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Company No: 10668710 (England and Wales)

INSPIRATION MARINE HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

INSPIRATION MARINE HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

INSPIRATION MARINE HOLDINGS LIMITED

BALANCE SHEET

As at 31 August 2024
INSPIRATION MARINE HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 998,639 998,639
998,639 998,639
Current assets
Debtors 4 25,000 25,000
Cash at bank and in hand 593,572 475,617
618,572 500,617
Creditors: amounts falling due within one year 5 ( 85,428) ( 83,937)
Net current assets 533,144 416,680
Total assets less current liabilities 1,531,783 1,415,319
Net assets 1,531,783 1,415,319
Capital and reserves
Called-up share capital 147 147
Share premium account 239,412 239,412
Capital redemption reserve 66 66
Profit and loss account 1,292,158 1,175,694
Total shareholders' funds 1,531,783 1,415,319

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Inspiration Marine Holdings Limited (registered number: 10668710) were approved and authorised for issue by the Board of Directors on 06 March 2025. They were signed on its behalf by:

J M J Stone
Director
INSPIRATION MARINE HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
INSPIRATION MARINE HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Inspiration Marine Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Chandlery Building Hamble Point Marina, School Lane, Hamble, Southampton, SO31 4NB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The Directors have considered the relevant business and economic data available at the time of the preparation of these accounts and have a reasonable expectation that the company will continue to have adequate resources to continue operating for the foreseeable future. Accordingly, the accounts have been prepared on the going concern basis.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 September 2023 998,639
At 31 August 2024 998,639
Carrying value at 31 August 2024 998,639
Carrying value at 31 August 2023 998,639

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.08.2024
Ownership
31.08.2023
Inspiration Marine Group Limited Chandlery Building Hamble Point Marina, Hamble, Southampton, Hampshire, England, SO31 4NB Yacht sales Ordinary 100.00% 100.00%
Michael Schmidt & Partner Limited Chandlery Building Hamble Point Marina, Hamble, Southampton, Hampshire, England, SO31 4NB Yacht and motor boat brokerage services to third parties Ordinary 100.00% 100.00%
Inspiration Marine Limited Chandlery Building Hamble Point Marina, Hamble, Southampton, Hampshire, England, SO31 4NB Dormant company Ordinary 100.00% 100.00%
Inspiration Yachting SAS 32 Rue Tronchet, 75008, Paris Yacht sales Ordinary 100.00% 100.00%

4. Debtors

2024 2023
£ £
Amounts owed by related parties 25,000 25,000

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Group undertakings 83,888 83,889
Taxation and social security 1,540 48
85,428 83,937

6. Events after the Balance Sheet date

Since the balance sheet date, the company has started the winding up process for Inspiration Yachting SAS.