Ridestore Limited

Notes to the Financial Statements
for the Year Ended 31 March 2026

1	General information

Ridestore Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2	Accounting policies

Going concern
The directors have considered the company’s financial position, liquidity and future performance together with financial projections for the company over the foreseeable future and have also reviewed the ongoing committed financial support from the company's parent undertaking and are confident that this will be available for the foreseeable future. After making enquiries, the directors are satisfied that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial statements.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Summary of disclosure exemptions

The company meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its separate financial statements. The company is consolidated in the financial statements of its parent company, Ridestore Holding AB, which may be obtained from 4021 Box, Trollhattan, 461 04, Sweden. Exemptions have been taken in these separate company financial statements in relation to financial instruments, presentation of a cash flow statement, transactions with group entities and remuneration of key management personnel.

Ridestore Limited

Notes to the Financial Statements
for the Year Ended 31 March 2026 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following estimates have had the most significant effect on amounts recognised in the financial statements:

(i) Provisions
Provisions have been made for warranties. These provisions are estimates and the actual costs and timing of future cash flows are dependent on future events. Any difference between expectations and the actual future liability will be accounted for in the period when such determination is made. Details of provisions are set out in note 9.

Revenue recognition

Direct sales comprise the online sale of sports clothing and related products during the period, net of value added tax, returns and discounts. Revenue from the sale of sports clothing and related products is recognised when the significant risks and rewards of ownership of the products have passed to the customer and the amount of revenue can be measured reliably.

Rendering of services includes the value of consideration receivable for the provision of marketing support services to its parent undertaking, net of value added tax. Revenue from the provision of services is recognised when the services have been provided. Revenue is recognised when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the company.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into sterling at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Taxation

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the year end.

Ridestore Limited

Notes to the Financial Statements
for the Year Ended 31 March 2026 (continued)

2	Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date where transactions or events that result in an obligation to pay more tax in the
future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Group cash pool arrangements

The Company participates in a group cash pooling arrangement operated by Ridestore AB.

Under the terms of the arrangement, the Company’s surplus cash is automatically transferred to the pool and may be offset against overdraft positions of other group companies. Amounts receivable from the pool are presented as intercompany receivables, and amounts payable to the pool are presented as intercompany borrowings. These are measured initially at fair value (normally the transaction amount) and subsequently at amortised cost using the effective interest method.

Interest income or expense is recognised in profit or loss on an accruals basis, in accordance with the terms of the pooling agreement.

Receivables

Trade and other receivables that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Payables

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade and other payables are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade and other payables that are payable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be paid. Those that are payable after more than one year or that constitute a financing transaction are recorded initially at transaction price and subsequently at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Ridestore Limited

Notes to the Financial Statements
for the Year Ended 31 March 2026 (continued)

2	Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

The company operates a defined contribution pension scheme. The assets of the schemes are held separately from those of the company. Contributions are recognised in the income statement in the period in which they become payable.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2025 - 17).

4

Taxation

Tax charged/(credited) in the income statement

	2026 £	2025 £
Current taxation
UK corporation tax	85,586	73,050

The standard rate of UK corporation tax applied to the reported profit before tax for the year is 25% (2025 - 25%).

The difference between the total tax charge shown above and the amount calculated by applying the standard rate of UK corporation tax to the profit before tax is as follows:

	2026 £	2025 £
Profit before tax	341,839	272,584
Corporation tax at standard rate	68,146	68,146
Effect of expense not deductible in determining taxable profit	17,440	4,904
Total tax charge	85,586	73,050

Ridestore Limited

Notes to the Financial Statements
for the Year Ended 31 March 2026 (continued)

5	Receivables

	2026 £	2025 £
Trade receivables	16,086	848
Amounts owed by group undertakings	205,930	-
Amounts owed by group undertakings (cash pool)	1,428,789	1,307,569
Other receivables	15,579	12,020
Prepayments	1,983	1,996
	1,668,367	1,322,433

The amounts owed by group undertakings (cash pool) relates to bank balances that are legally held in the name of the parent undertaking. These amounts are available for immediate use in relation to the operations of the company. Other amounts owed by group undertakings are unsecured, payable on demand and are non-interest bearing.

6

Payables

	2026 £	2025 £
Due within one year
Trade payables	1,285	2,574
Corporation tax	38,522	73,050
Social security and other taxes	841,212	690,969
Amount owed to group undertaking	-	116,246
Outstanding defined contribution pension costs	2,583	2,426
Other payables	2,669	15,779
Accrued expenses	97,785	73,889
	984,056	974,933

The amount owed to group undertaking is unsecured, payable on demand and is non-interest bearing.

Ridestore Limited

Notes to the Financial Statements
for the Year Ended 31 March 2026 (continued)

7	Provisions for liabilities

	Provision for returns £
At 1 April 2025	87,839
Additional provisions	80,558
At 31 March 2026	168,397

Provision for returns represents the directors' best estimate of the value of goods returned after the year end.

8	Share capital and reserves

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary share of £1	1	1	1	1

The company has one class of share capital which carries no right to fixed income.

Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.

9	Pension scheme

Defined contribution pension scheme

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 pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £10,694 (2025 - £10,151). Contributions totalling £2,583 (2025 - £2,426) were payable to the scheme at the end of the year and are included in payables.

Ridestore Limited

Notes to the Financial Statements
for the Year Ended 31 March 2026 (continued)

10	Related party transactions

The company is a wholly owned subsidiary member of its group and has therefore taken advantage of the provisions of paragraph 1AC.35 of FRS 102 - Small Entities not to disclose transactions with entities that are wholly owned members of the group. There were no other related party transactions to disclose.

11	Parent and ultimate parent undertaking

The company's immediate parent undertaking is Ridestore Holding AB, a company incorporated in Sweden. The ultimate parent is Illume Holding AB, incorporated in Sweden. The most senior parent entity producing publicly available financial statements is Illume Holding AB. These financial statements are available upon request from Frihamnen 16 A, Göteborg, 417 70, Sweden.

 The company's ultimate controlling parties are D Hellberg and J Hellberg by virtue of their majority shareholding.

12	Events after the financial period

There have been no significant events between the year end and the date of approval of these accounts which would require a change to, or disclosure in, the financial statements.

13	Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 10 September 2026 was Leanne Humphreys, who signed for and on behalf of Shaw Gibbs (Audit) Limited.