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Registered number: 14834365 THE INSPIRATION GOLF LTD FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
THE INSPIRATION GOLF LTD REGISTERED NUMBER: 14834365 BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 24,925 |  | -
|  |  | 24,925 |  | -
Current assets |  |  |  |  |
Stocks |  | 4,000 |  | - |
Debtors: amounts falling due within one year | 6 | 167,959 |  | - |
Cash at bank and in hand | 7 | 16,151 |  | 1 |
|  | 188,110 |  | 1 |
Creditors: amounts falling due within one year | 8 | (222,034) |  | - |
Net current (liabilities)/assets |  |  | (33,924) |  | 1
Total assets less current liabilities |  |  | (8,999) |  | 1
Creditors: amounts falling due after more than one year |  |  | (2,586) |  | -
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (7,992) |  | - |
|  |  | (7,992) |  | -
Net (liabilities)/assets |  |  | (19,577) |  | 1
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1 |  | 1
Profit and loss account |  |  | (19,578) |  | -
|  |  | (19,577) |  | 1
The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 January 2026.
A S Menai Davis
Director
The notes on pages 4 to 11 form part of these financial statements. Page 1
THE INSPIRATION GOLF LTD STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 January 2024 | 1 | - | 1
Comprehensive income for the year |  |  |
Profit for the year | - | 93,422 | 93,422
Contributions by and distributions to owners |  |  |
Dividends: Equity capital | - | (113,000) | (113,000)
At 31 December 2024 | 1 | (19,578) | (19,577)
| The notes on pages 4 to 11 form part of these financial statements.
Page 2
THE INSPIRATION GOLF LTD STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2023
| Called up share capital | Total equity
| £ | £
At 1 January 2023 | 1 | 1
At 31 December 2023 | 1 | 1
| The notes on pages 4 to 11 form part of these financial statements.
Page 3
THE INSPIRATION GOLF LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
The company is a private company, limited by shares, registered in England and Wales, registration number 14834365. The address of the registered office is Suite 2A1, Northside House, Mount Pleasant, London, EN4 9EB. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The Company's functional and presentational currency is GBP. These financial statements have been rounded to the nearest £1. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Going Concern
The directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. The directors consider it appropriate for the company to continue to adopt the going concern basis in preparing its financial statements. Page 4
THE INSPIRATION GOLF LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.4 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.5 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. Page 5
THE INSPIRATION GOLF LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.6 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.7 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.8 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical 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. Page 6
THE INSPIRATION GOLF LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.8 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 25%
|  |  |  | Fixtures and fittings | - | 25%
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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.9 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.10 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.11 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.12 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.13 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss. Page 7
THE INSPIRATION GOLF LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.14 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2024 | 2023
|  |  | No. | No.
|  | Non Directors | 9 | -
|  | Directors | 4 | 4
|  |  | 13 | 4
4. | Tangible fixed assets
|  | Plant and machinery | Fixtures and fittings | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| Additions | 18,053 | 15,179 | 33,232
| At 31 December 2024 | 18,053 | 15,179 | 33,232
| Depreciation |  |  |
| Charge for the year on owned assets | 4,513 | 3,794 | 8,307
| At 31 December 2024 | 4,513 | 3,794 | 8,307
| Net book value |  |  |
| At 31 December 2024 | 13,540 | 11,385 | 24,925
5. | Stocks
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Finished goods and goods for resale | 4,000 | -
|  | 4,000 | -
Page 8
THE INSPIRATION GOLF LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 167,948 | -
| Other debtors | 11 | -
|  | 167,959 | -
7. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 16,151 | 1
|  | 16,151 | 1
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 41,063 | -
| Amounts owed to group undertakings | 58,801 | -
| Corporation tax | 972 | -
| Other taxation and social security | 78,586 | -
| Obligations under finance lease and hire purchase contracts | 25,988 | -
| Accruals and deferred income | 16,624 | -
|  | 222,034 | -
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Net obligations under finance leases and hire purchase contracts | 2,586 | -
|  | 2,586 | -
Page 9
THE INSPIRATION GOLF LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
10. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Within one year | 21,657 | -
| Between 1-5 years | 10,828 | -
|  | 32,485 | -
11. | Deferred taxation
|  | 2024
|  | £
| Charged to profit or loss | (7,992)
| At end of year | (7,992)
| The deferred taxation balance is made up as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Accelerated capital allowances | (7,992) | -
|  | (7,992) | -
12. | Pension commitments
The company makes contributions to certain employees personal pensions. The contributions are charged to the profit and loss account as they are incurred. Page 10
THE INSPIRATION GOLF LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
13. | Related party transactions
| The company has paid management charges to related parties of £385,000 during the year. During the year the company charged management charges of £85,000 to related parties. During the year the company paid dividends of £113,000, (2023: £Nil). During the year under review the company had the following balances with related companies:
|  | 2024 | 2023
|  | £ | £
| Bridgedown Group Ltd | 6,183 | -
| Bridgedown Ltd | (58,801) | -
| The Shire London Ltd | 7,058 | -
| The Inspiration Golf Club Ltd | 20,604 | -
| Pan Europe Agencies Ltd | 4,000 | -
| Powerbuild Ltd | 130,105 | -
|  | 109,149 | -
14. | Controlling party
The directors regard Bridgedown Group Limited, a company registered in England and Wales, as being the ultimate parent company. The directors regards A S Menai Davis as being the ultimate controlling party.
15. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified. The audit report was signed on 27 January 2026 by Darryl Ashing FCA (Senior Statutory Auditor) on behalf of Ashings Limited.
Page 11