REGISTERED NUMBER: 05921584 (England and Wales)

Bahnstormer Motorrad Ltd

Group Strategic Report, Report of the Director and

Audited Consolidated Financial Statements for the Year Ended 31st December 2025

Page

Company Information

1

Group Strategic Report

2

Report of the Director

4

Report of the Independent Auditors

5

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

Notes to the Consolidated Financial Statements

18

DIRECTOR:

A Walker

SECRETARY:

A Walker

REGISTERED OFFICE:

Bahnstormer Motorrad Ltd

Gosport Road

Lower Farringdon

Alton

Hampshire

GU34 3DJ

REGISTERED NUMBER:

05921584 (England and Wales)

AUDITORS:

Sheen Stickland

Chartered Accountants

Statutory Auditors

2 Oriel Court

Omega Park

Alton

Hampshire

GU34 2YT

The director presents his strategic report of the company and the group for the year ended 31st December 2025.

REVIEW OF BUSINESS

The principal activity of the group during the year was the sale and maintenance of motor bikes in the United Kingdom.

Additionally, since 2023 the Group has been selling e-bikes and pedal bikes through its Veloline subsidiary. The directors expected short-term difficulty in 2024 following an essential business restructure, involving a branch closure.

Stronger performance has been observed across all group businesses in 2025, despite the commitment to an onerous lease at the closed branch, which is expected to be surrendered imminently. The directors anticipate trading and margins to remain consistent in 2026 with exciting new sales prospects on the horizon.

PRINCIPAL RISKS AND UNCERTAINTIES

The management of the business and the execution of the group's strategy are subject to a number of risks. These include major changes in the general economic climate and the supply of new bikes from BMW, with whom the company deals.

KEY PERFORMANCE INDICATOR (KPI)

Gross profit

£1,323,609 profit (31st December 2024: £887,428 profit)

Operating profit

£387,039 profit (31st December 2024 £(172,894) loss)

Profit after tax

£260,550 profit (31st December 2024: £(190,461) loss)

FINANCIAL RISK MANAGEMENT

The group's activities expose it a number of financial risks including credit risk, cash flow risk and liquidity risk.The use of financial derivatives is governed by the group's policies approved by the board of directors, which provide principles on the use of financial derivatives to manage these risks. The group does not use derivative financial instruments for speculative purposes.

CREDIT RISK

The group's principal financial assets are bank balances, cash, trade and other receivables.

The group's credit risk is primarily attributable to its trade receivables. The amount presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of cash flows.

The credit risk on liquid funds is limited because the counterparties are banks with high credit ratings assigned by the international credit rating agencies.

CASHFLOW RISK

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cashflow.

LIQUIDITY RISK

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operation and future developments, the company uses a mixture of long term and short term debt finance.

ON BEHALF OF THE BOARD:

A Walker - Director

1st October 2026

The director presents his report with the financial statements of the company and the group for the year ended 31st December 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of the Sale, maintenance and repair of motorcycles and related parts and accessories.

DIVIDENDS

Total Interim dividends of £178,700 were paid to Ordinary A shareholders and £14,600 were paid to Ordinary B shareholders.

Total dividend paid during the year were £193,300

DIRECTOR

A Walker held office during the whole of the period from 1st January 2025 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Sheen Stickland, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A Walker - Director

1st October 2026

Opinion

We have audited the financial statements of Bahnstormer Motorrad Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st December 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31st December 2025 and of the group's profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.

The laws and regulations applicable to the company were identified through discussions with the director and other management also from Our commercial knowledge and experience of the company. Of these laws and regulations, we focused on those that we considered may have a direct material effect on the financial statements or the operations of the company, including but not limited to The Companies Act 2006, taxation legislation, data protection, anti-bribery, anti-money-laundering, employment, environmental and health and safety legislation.

The extent of compliance with these laws and regulations identified above was assessed through making enquiries of management and inspecting legal expenditure and correspondence. The identified laws and regulations were communicated within the audit team, the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and understanding the design of the company's remuneration policies.

- making enquiries of management as to where they considered there was susceptibility to fraud, them knowledge of actual, suspected and alleged fraud;

To address the risk of fraud through management bias and override of controls, we:

- tested journal entries to identify unusual transactions;

- performed analytical procedures to identify any unusual or unexpected relationships;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;

- and investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims;

- and reviewing correspondence relevant regulators and the company's legal advisors.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

David Sanders FCA (Senior Statutory Auditor)

for and on behalf of Sheen Stickland

Chartered Accountants

Statutory Auditors

2 Oriel Court

Omega Park

Alton

Hampshire

GU34 2YT

1st October 2026

TURNOVER

3

19,735,738

23,231,723

Cost of sales

18,412,129

22,344,295

GROSS PROFIT

1,323,609

887,428

Administrative expenses

992,838

1,122,947

330,771

(235,519

)

Other operating income

56,268

62,625

OPERATING PROFIT/(LOSS)

5

387,039

(172,894

)

Interest receivable and similar income

12,597

4,042

399,636

(168,852

)

Interest payable and similar expenses

6

99,142

29,411

PROFIT/(LOSS) BEFORE TAXATION

300,494

(198,263

)

Tax on profit/(loss)

7

39,944

(7,802

)

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

260,550

(190,461

)

Profit/(loss) attributable to:

Owners of the parent

234,994

(212,990

)

Non-controlling interests

25,556

22,529

260,550

(190,461

)

PROFIT/(LOSS) FOR THE YEAR

260,550

(190,461

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

260,550

(190,461

)

Total comprehensive income attributable to:

Owners of the parent

234,994

(212,991

)

Non-controlling interests

25,556

22,530

260,550

(190,461

)

FIXED ASSETS

Tangible assets

10

256,258

346,915

Investments

11

-

-

256,258

346,915

CURRENT ASSETS

Stocks

12

2,975,146

2,738,082

Debtors

13

511,513

565,289

Cash at bank and in hand

207,711

5,233

3,694,370

3,308,604

CREDITORS

Amounts falling due within one year

14

3,555,271

3,234,036

NET CURRENT ASSETS

139,099

74,568

TOTAL ASSETS LESS CURRENT LIABILITIES

395,357

421,483

CREDITORS

Amounts falling due after more than one year

15

(58,971

)

(165,392

)

PROVISIONS FOR LIABILITIES

19

(51,101

)

(37,955

)

NET ASSETS

285,285

218,136

CAPITAL AND RESERVES

Called up share capital

20

100,000

100,000

Retained earnings

21

117,651

76,057

SHAREHOLDERS' FUNDS

217,651

176,057

NON-CONTROLLING INTERESTS

22

67,634

42,079

TOTAL EQUITY

285,285

218,136

The financial statements were approved by the director and authorised for issue on 1st October 2026 and were signed by:

A Walker - Director

FIXED ASSETS

Tangible assets

10

128,271

175,751

Investments

11

81

81

128,352

175,832

CURRENT ASSETS

Stocks

12

2,568,667

2,322,189

Debtors

13

1,021,134

929,591

Cash at bank and in hand

184,993

3,674

3,774,794

3,255,454

CREDITORS

Amounts falling due within one year

14

3,389,159

3,065,284

NET CURRENT ASSETS

385,635

190,170

TOTAL ASSETS LESS CURRENT LIABILITIES

513,987

366,002

CREDITORS

Amounts falling due after more than one year

15

-

(60,813

)

PROVISIONS FOR LIABILITIES

19

(30,767

)

(18,389

)

NET ASSETS

483,220

286,800

CAPITAL AND RESERVES

Called up share capital

20

100,000

100,000

Retained earnings

21

383,220

186,800

SHAREHOLDERS' FUNDS

483,220

286,800

Company's profit/(loss) for the financial year

389,820

(130,834

)

The financial statements were approved by the director and authorised for issue on 1st October 2026 and were signed by:

A Walker - Director

Called up

share

Retained

Non-controlling

Total

capital

earnings

Total

interests

equity

£

£

£

£

£

Balance at 1st January 2024

100,000

631,223

731,223

9,773

740,996

Changes in equity

Movement in share capital - 10

-

(4,176

)

(4,176

)

9,776

5,600

Dividends

-

(338,000

)

(338,000

)

-

(338,000

)

Total comprehensive income

-

(212,990

)

(212,990

)

22,530

(190,460

)

Balance at 31st December 2024

100,000

76,057

176,057

42,079

218,136

Changes in equity

Dividends

-

(193,400

)

(193,400

)

-

(193,400

)

Total comprehensive income

-

234,994

234,994

25,556

260,550

Balance at 31st December 2025

100,000

117,651

217,651

67,635

285,286

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st January 2024

100,000

655,634

755,634

Changes in equity

Dividends

-

(338,000

)

(338,000

)

Total comprehensive income

-

(130,834

)

(130,834

)

Balance at 31st December 2024

100,000

186,800

286,800

Changes in equity

Dividends

-

(193,400

)

(193,400

)

Total comprehensive income

-

389,820

389,820

Balance at 31st December 2025

100,000

383,220

483,220

Cash flows from operating activities

Cash generated from operations

1

481,814

328,045

Interest paid

(99,142

)

(29,411

)

Tax paid

(10,551

)

(47,861

)

Net cash from operating activities

372,121

250,773

Cash flows from investing activities

Purchase of tangible fixed assets

(75,287

)

(28,850

)

Sale of tangible fixed assets

1,000

-

Interest received

6,597

16

Dividends received

6,000

-

Sale of shares in subsidiary

-

5,600

Net cash from investing activities

(61,690

)

(23,234

)

Cash flows from financing activities

New loans in year

275,092

-

Loan repayments in year

(85,762

)

(94,831

)

Capital introduced in the year

17,928

-

Capital repayments in year

(8,391

)

(10,932

)

Amount introduced by directors

173,586

-

Amount withdrawn by directors

(186,972

)

(211,237

)

Equity dividends paid

(193,400

)

(108,000

)

Net cash from financing activities

(7,919

)

(425,000

)

Increase/(decrease) in cash and cash equivalents

302,512

(197,461

)

Cash and cash equivalents at beginning of year

2

(94,801

)

102,660

Cash and cash equivalents at end of year

2

207,711

(94,801

)

1.	RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit/(loss) before taxation

300,494

(198,263

)

Depreciation charges

153,404

176,422

Movement in provisions

13,145

-

Finance costs

99,142

29,411

Finance income

(12,597

)

(4,042

)

553,588

3,528

(Increase)/decrease in stocks

(237,064

)

2,714,042

Decrease in trade and other debtors

67,162

116,489

Increase/(decrease) in trade and other creditors

98,128

(2,506,014

)

Cash generated from operations

481,814

328,045

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st December 2025

31.12.25

1.1.25

£

£

Cash and cash equivalents

207,711

5,233

Bank overdrafts

-

(100,034

)

207,711

(94,801

)

Year ended 31st December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

5,233

102,660

Bank overdrafts

(100,034

)

-

(94,801

)

102,660

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank and in hand

5,233

202,478

207,711

Bank overdrafts

(100,034

)

100,034

-

(94,801

)

302,512

207,711

Debt

Finance leases

(10,150

)

(10,375

)

(20,525

)

Debts falling due within 1 year

(93,591

)

(291,759

)

(385,350

)

Debts falling due after 1 year

(161,400

)

102,429

(58,971

)

(265,141

)

(199,705

)

(464,846

)

Total

(359,942

)

102,807

(257,135

)

1.	STATUTORY INFORMATION

Bahnstormer Motorrad 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 General Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the group. Monetary amounts in these financial statements are rounded to the nearest £.

Basis of consolidation

The group financial statements consolidate the financial statements of Bahnstormer Motorrad Limited and its subsidiary undertakings Motoline Limited and Veloline Limited as at 31 December each year. No income statement is presented for the Parent company as permitted by section 408 of the Companies Act 2006.

Subsidiaries are consolidated from the date of their acquisition, being the date on which the Group obtains control and continue to be consolidated until the date that such control ceases. Control is the power to govern the financial and operating policies of the investee so as to obtain benefits from its activities.

The subsidiaries have been included in the group financial statements using the purchase method of accounting. Accordingly, the group income statement and statement of cash flows include the results and cash flows of these companies for the year. The purchase consideration was allocated to the assets and liabilities on the basis of fair value at the date of acquisition.

Where the Group controls more than 50% but less than 100% of the issued share capital in a subsidiary, the

subsidiary is consolidated within the financial statements and the proportion of its net assets attributable to the non-controlling interest are recognised within the associated reserve account in equity.

In the parent company financial statements investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.