REGISTERED NUMBER: NI634829 (Northern Ireland)

NI OPEN GOLF LIMITED

Financial Statements for the Year Ended 31 October 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Gary Henry

Tiarnán O'Neill

Israel Robb

REGISTERED OFFICE:

Mills Selig

21 Arthur Street

Belfast

BT1 4GA

REGISTERED NUMBER:

NI634829 (Northern Ireland)

INDEPENDENT AUDITORS:

Cooper Parry Audit (Ireland) Limited

Statutory Auditor

Unit 7 Dyehouse

Linen Green

Dungannon

Co. Tyrone

BT71 7HB

BANKERS:

AIB

78 Wellington Street

Ballymena

Antrim

BT43 6AF

SOLICITORS:

McGarrigle Legal Limited

7th Floor West Tower

8 Lanyon Place

Belfast

BT1 3LP

CURRENT ASSETS

Receivables: amounts falling due within one year

6

315,668

148,937

Cash at bank

87,575

6,620

403,243

155,557

PAYABLES

Amounts falling due within one year

7

(461,716

)

(223,118

)

NET CURRENT LIABILITIES

(58,473

)

(67,561

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(58,473

)

(67,561

)

RESERVES

Income and expenditure account

(58,473

)

(67,561

)

(58,473

)

(67,561

)

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 30 July 2026 and were signed on its behalf by:

Tiarnán O'Neill - Director

1.	STATUTORY INFORMATION

NI Open Golf Limited is a private company, limited by guarantee , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The principal activity of the company is the provision of event management services.

2.	STATEMENT OF COMPLIANCE

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

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented unless otherwise stated.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared on a going concern basis, under the historical cost convention, unless otherwise specified within these accounting policies. Historical cost is generally based on the fair value of consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the group financial statements.

The financial statements are stated in sterling which is the functional currency of the company.

Going concern

The company has recorded a profit for the financial year of £9,088 (2024: loss of £54,015). Profits generated have reduced the closing net deficit position recorded on the balance sheet, with the financial statements reporting a closing net deficit at 31 October 2025 of £58,473 (2024: £67,561). Management have prepared a cash flow forecast to ensure that the company can meet its operating and debt service commitments for a period of 12 months from the date of signing the financial statements. The directors have obtained confirmation that the company has underlying support from Eirmon Holdings Limited, the company's ultimate parent, for a period of at least 12 months from the date of signing these financial statements. Accordingly, the directors have prepared the financial statements on a going concern basis.

Revenue

Revenue recognised in the Income Statement represents amounts invoiced during the year, exclusive of Value Added Tax. Revenue is recognised when, and to the extent that, the company obtains the right to consideration in exchange for its performance. With respect to sponsorship income and public sector income, revenue is recognised at the point when the service is provided.

Property, plant and equipment

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

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange

rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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.

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.

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.

Cash flow statement

The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 1 ).

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

fittings

£

COST

At 1 November 2024

and 31 October 2025

11,679

DEPRECIATION

At 1 November 2024

and 31 October 2025

11,679

NET BOOK VALUE

At 31 October 2025

-

At 31 October 2024

-

6.

RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/25

31/10/24

£

£

Trade debtors

74,612

42,317

Amounts owed by group undertakings

166,436

99,736

Other debtors

74,620

6,884

315,668

148,937

Amounts owed by group and related undertakings, due within one year, are interest free, unsecured and repayable on demand.

7.

PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/25

31/10/24

£

£

Trade payables

202,065

65,616

Amounts owed to group undertakings

237,020

146,979

Taxation and social security

-

9,523

Other payables

22,631

1,000

461,716

223,118

Amounts owed by group and related undertakings, due within one year, are interest free, unsecured and repayable on demand.

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

The Auditors' Report was unqualified.

Mr. Ryan Falls (F.C.A) (Senior Statutory Auditor)

for and on behalf of Cooper Parry Audit (Ireland) Limited

9.	RELATED PARTY DISCLOSURES

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.

10.	ULTIMATE CONTROLLING PARTY

The company’s immediate parent undertaking is Galgorm Castle Holdings Limited, a company incorporated in Northern Ireland.

The company’s ultimate parent undertaking is Eirmon Holdings Limited, a company incorporated in the Isle of Man.

The smallest and largest group for which consolidated accounts are prepared including the results of this company is Eirmon Holdings Limited.

The Hill family is deemed to be the ultimate controlling party of the company.