| REGISTERED NUMBER: |
| Freerider Luggie UK Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2025 |
| REGISTERED NUMBER: |
| Freerider Luggie UK Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2025 |
| Freerider Luggie UK Limited (Registered number: 07559593) |
| Contents of the Financial Statements |
| for the year ended 31 December 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 7 |
| Freerider Luggie UK Limited |
| Company Information |
| for the year ended 31 December 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Aireside House |
| Aireside Business Centre |
| Royd Ings Avenue |
| Keighley |
| West Yorkshire |
| BD21 4BZ |
| Freerider Luggie UK Limited (Registered number: 07559593) |
| Balance Sheet |
| 31 December 2025 |
| 31.12.25 | 31.12.24 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Freerider Luggie UK Limited (Registered number: 07559593) |
| Notes to the Financial Statements |
| for the year ended 31 December 2025 |
| 1. | STATUTORY INFORMATION |
| Freerider Luggie UK Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Revenue recognition |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| It is recognised on completion and delivery of an individual contract. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| All tangible fixed assets are at cost less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
| Assets held under finance lease are depreciated in the same manner as owned assets. |
| Renewals, repairs and maintenance are charged to profit and loss during the period in which they are incurred. |
| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using a mixture of methods. The depreciation bases are as detailed above. |
| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
| Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are credited or charged to the income statement. |
| Impairment of fixed assets |
| At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indications exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
| If the recoverable amount of an asset is estimated to be less that its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately. |
| Where an impairment loss subsequently reserves, the carrying amount of the asset is increased to the revised estimate of its recoverable amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in the prior years. A reversal of an impairment loss is recognised as income immediately. |
| Freerider Luggie UK Limited (Registered number: 07559593) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Going concern |
| These financial statements have been prepared on a going concern basis. |
| The directors have considered the company's financial position, including its accumulated losses and reliance on financial support from its main creditor, Freerider Corporation. |
| The directors have reviewed the company’s cash flow requirements and are satisfied that, with the continued support of Freerider Corporation, the company will be able to meet its liabilities as they fall due. |
| Freerider Corporation has indicated its ongoing financial support for the foreseeable future. Mr A Wang is a director of both the company and Freerider Corporation, providing the directors with confidence in the availability of this support. |
| Accordingly, the directors have a reasonable expectation that the company will continue in operational existence for at least 12 months from the date of approval of these financial statements and have therefore prepared the financial statements on a going concern basis. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Freerider Luggie UK Limited (Registered number: 07559593) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2025 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 January 2025 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2025 |
| DEPRECIATION |
| At 1 January 2025 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.25 | 31.12.24 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.25 | 31.12.24 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 31.12.25 | 31.12.24 |
| £ | £ |
| Within one year |
| Between one and five years |
| Freerider Luggie UK Limited (Registered number: 07559593) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2025 |
| 8. | PENSION COMMITMENTS |
| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The total contributions to the company's scheme was £5,625 (2024 - £5,300). Contributions outstanding were £nil (2024 - £917) at the balance sheet date. |
| 9. | RELATED PARTY DISCLOSURES |
| Related party relationships |
| The company is under common control with Freerider Corporation, which is considered to be a related party by virtue of common directorship and ownership. |
| Transactions with related parties |
| During the year, the company purchased the majority of its inventory from Freerider Corporation in the normal course of business. |
| Purchases from Freerider Corporation during the year were approximately £1,113,055 (2024: £1,963,702). |
| Interest of £166,286 (2024: £118,288) was charged by Freerider Corporation in respect of outstanding balances and is included within supplier interest in the profit and loss account. |
| Balances with related parties |
| Included in trade creditors at the year-end is an amount of £1,847.382 (2024: £1,228,636) due to Freerider Corporation. |
| Directors' transactions |
| During the year, interest of £5,000 (2024: £5,014) was paid to directors in respect of loans advanced to the company. |
| Amounts outstanding to the directors at the year-end was £100,683 (2024: £100,683). |
| Financial support |
| The company is financially dependent on Freerider Corporation. The directors have received confirmation that Freerider Corporation will continue to provide financial support to the company for the foreseeable future. This support includes the continued provision of goods on credit terms and, where necessary, financial assistance. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Freerider Luggie UK Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Freerider Luggie UK Limited for the year ended 31 December 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Freerider Luggie UK Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Freerider Luggie UK Limited and state those matters that we have agreed to state to the Board of Directors of Freerider Luggie UK Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Freerider Luggie UK Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Freerider Luggie UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Freerider Luggie UK Limited. You consider that Freerider Luggie UK Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Freerider Luggie UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Aireside House |
| Aireside Business Centre |
| Royd Ings Avenue |
| Keighley |
| West Yorkshire |
| BD21 4BZ |