REGISTERED NUMBER: 05571280 (England and Wales)

SHARK HELMETS UK LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

2 Ride Holding SAS

Mr S T Empson

SECRETARY:

Mr S T Empson

REGISTERED OFFICE:

Hillview Business Centre

2 Leybourne Avenue

Bournemouth

Dorset

BH10 6HF

REGISTERED NUMBER:

05571280 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mr Alan Simons

AUDITORS:

Xeinadin Audit Limited

Chartered Accountants & Statutory Auditors

Hillview Business Centre

2 Leybourne Avenue

Bournemouth

BH10 6HF

CURRENT ASSETS

Stocks

160,000

975,317

Debtors

5

1,204,985

313,646

Cash at bank

6,428

555,207

1,371,413

1,844,170

CREDITORS

Amounts falling due within one year

6

545,603

1,112,593

NET CURRENT ASSETS

825,810

731,577

TOTAL ASSETS LESS CURRENT LIABILITIES

825,810

731,577

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

815,810

721,577

SHAREHOLDERS' FUNDS

825,810

731,577

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2026 and were signed on its behalf by:

Mr S T Empson - Director

2 Ride Holding SAS - Director

1.	STATUTORY INFORMATION

Shark Helmets UK Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost

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.

Cessation of trade

The company ceased trading on 30 September 2025.

Going concern

The financial statements for the year ended 30 September 2025 have not been prepared on a going concern basis, as management has determined that the company will cease trading within the next 12 months.

Stock impairment

The majority of inventory was sold prior to the reporting date. Remaining inventory has been measured at the lower of cost and net realisable value, resulting in a carrying amount of £160,000.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2024

2,340

Disposals

(1,648

)

At 30 September 2025

692

DEPRECIATION

At 1 October 2024

2,340

Eliminated on disposal

(1,648

)

At 30 September 2025

692

NET BOOK VALUE

At 30 September 2025

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,165,895

305,692

Other debtors

39,090

7,954

1,204,985

313,646

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

508,340

1,082,447

Taxation and social security

27,149

5,140

Other creditors

10,114

25,006

545,603

1,112,593

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

We draw attention to Note 2 of the financial statements which explains that the directors intend to cease trading and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 2. Our opinion is not modified in respect of this matter.

Mr Alan Simons (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

8.	RELATED PARTY DISCLOSURES

Shark SA owns 7,000 ordinary shares in Shark Helmets UK Limited.

The remaining 3,000 issued ordinary shares are owned by Nevis Marketing Limited.

During the year Shark UK Limited sold £3,650,490 (2024 - £2,465,238) of goods to Nevis Marketing Limited on normal commercial terms.

During the year Nevis Marketing Limited recharged £106,952 (2024 - £153,376) at cost for expenses to Shark UK Limited.

Included in trade debtors as at 30 September 2025 is £1,165,895 (2024 - £305,692) owed by Nevis Marketing Limited.

During the year Shark UK Limited purchased £2,465,890 (2024 - £2,087,240) of goods from Shark SA on normal commercial terms.

Included in trade creditors as at 30 September 2025 is £493,378 (2024 - £945,855) owed to Shark SA.

Included in other debtors as at 30 September 2025 is £39,090 (2024 - Creditor of £123,757) owed from 2Ride Holding.

Included in trade creditors as at 30 September 2025 is £7,414 (2024 - £6,985) owed to Nevis Marketing Limited.

During the year Shark SA charged £8,875 (2024 - £8,956) in management fees to Shark UK.

During the year 2Ride Holding charged £63,202 (2024 - £64,474) in management fees to Shark UK.

9.	ULTIMATE CONTROLLING PARTY

70% of the shares in Shark Helmets UK Limited are owned by Shark SA.

100% of the shares of Shark SA are owned by 2 Ride Holding.