Inspire Capital Propco Limited

	Page
Accountants' Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—8

Report to the directors on the preparation of the unaudited statutory accounts of Inspire Capital Propco Limited for the year ended 31 December 2025

To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Inspire Capital Propco Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made to the directors of Inspire Capital Propco Limited , as a body, in accordance with the terms of our engagement letter dated 21 July 2026. Our work has been undertaken solely to prepare for your approval the accounts of Inspire Capital Propco Limited and state those matters that we have agreed to state to the directors of Inspire Capital Propco Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Inspire Capital Propco Limited and its directors as a body for our work or for this report.

It is your duty to ensure that Inspire Capital Propco Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Inspire Capital Propco Limited . You consider that Inspire Capital Propco Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Inspire Capital Propco Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

24th September 2026

Ascendis Accountants, Business & Tax Advisors Ltd

Chartered Certified Accountants, Taxation and Business Advisors

First Floor, East Wing, Sandfield House

Kings Close, Water Lane

Wilmslow

Cheshire

SK9 5AR

Page 1

Page 2

Inspire Capital Propco Limited

Balance Sheet

As At 31 December 2025

Balance Sheet

Registered number: 13321394

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		69,993		302,891
Investment Properties	5		9,341,590		8,244,631
Investments	6		29,044		-

			9,440,627		8,547,522
CURRENT ASSETS
Debtors	7	186,013		134,178
Cash at bank and in hand		87,160		196,311

		273,173		330,489
Creditors: Amounts Falling Due Within One Year	8	(834,216 )		(212,386 )

NET CURRENT ASSETS (LIABILITIES)			(561,043 )		118,103

TOTAL ASSETS LESS CURRENT LIABILITIES			8,879,584		8,665,625

Creditors: Amounts Falling Due After More Than One Year	9		(7,377,095 )		(7,646,561 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	11		(92,610 )		(129,558 )

NET ASSETS			1,409,879		889,506

CAPITAL AND RESERVES
Called up share capital	13		100		100
Fair value reserve	14		225,337		161,505
Profit and Loss Account			1,184,442		727,901

SHAREHOLDERS' FUNDS			1,409,879		889,506

Page 2

Page 3

Inspire Capital Propco Limited

Balance Sheet (continued)

As At 31 December 2025

For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Rizwan Khan

Director

24th September 2026

The notes on pages 4 to 8 form part of these financial statements.

Page 3

Page 4

Inspire Capital Propco Limited

Notes to the Financial Statements

For The Year Ended 31 December 2025

Notes to the Financial Statements

1. General Information

Inspire Capital Propco Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13321394 . The registered office is Hobart House, 3 Oakwater Avenue, Cheadle Royal Business Park, Cheadle, SK8 3SR.

Company trading address: Hobart House, 3 Oakwater Avenue, Cheadle Royal Business Park, Cheadle, SK8 3SR

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rental property.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% Reducing Balance
Fixtures & Fittings	25% Reducing Balance
Computer Equipment	33.33% Straight Line

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account and are shown via the fair value reserve.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

Page 4

Page 5

Inspire Capital Propco Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Investments

Other investments comprise the Company's holding of physical gold, held for investment purposes. The investment is initially recognised at cost, being the fair value of consideration given at the date of acquisition.

As gold does not meet the definition of a basic financial instrument under FRS 102, the investment is subsequently measured at fair value at each reporting date, with fair value determined by reference to the quoted market/spot price for gold of equivalent purity and weight at the balance sheet date. Changes in fair value are recognised in profit or loss for the year.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost or Valuation
As at 1 January 2025	375,866	19,683	2,894	398,443
Additions	25,891	44,870	3,044	73,805
Disposals	(375,866 )	-	-	(375,866 )

As at 31 December 2025	25,891	64,553	5,938	96,382

Depreciation
As at 1 January 2025	83,655	9,812	2,085	95,552
Provided during the period	4,965	8,275	1,252	14,492
Disposals	(83,655 )	-	-	(83,655 )

As at 31 December 2025	4,965	18,087	3,337	26,389

Net Book Value
As at 31 December 2025	20,926	46,466	2,601	69,993

As at 1 January 2025	292,211	9,871	809	302,891

5. Investment Property

	2025
	£
Fair Value
As at 1 January 2025	8,244,631
Additions	1,347,766
Disposals	(335,916 )
Revaluations	85,109

As at 31 December 2025	9,341,590

Page 5

Page 6

Inspire Capital Propco Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

6. Investments

	Other
	£
Cost or Valuation
As at 1 January 2025	-
Additions	29,097
Revaluations	(53 )

As at 31 December 2025	29,044

Provision
As at 1 January 2025	-

As at 31 December 2025	-

Net Book Value
As at 31 December 2025	29,044

As at 1 January 2025	-

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	11,777	-
Other debtors	44,236	4,178

	56,013	4,178
Due after more than one year
Other debtors	130,000	130,000

	186,013	134,178

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	20,296	4,006
Bank loans and overdrafts	9,545	56,180
Other loans	436,099	-
Other creditors	121,911	86,780
Taxation and social security	246,365	65,420

	834,216	212,386

Page 6

Page 7

Inspire Capital Propco Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	144,241	503,993
Other loans	2,390,000	412,099
Amounts owed to participating interests	1,342,819	1,450,154
Other creditors	3,500,035	5,280,315

	7,377,095	7,646,561

10. Secured Creditors

The bank loan is secured on the investment property.

	2025		2024
	£		£
Bank loans and overdrafts	2,543,786		941,872

11. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	92,610	129,558

12. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 January 2025	129,558	129,558
Deferred taxation	(36,948 )	(36,948 )

Balance at 31 December 2025	92,610	92,610

13. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
100 Ordinary Shares of £ 1 each	100	100

14. Reserves

	Fair value reserve	Profit and Loss Account
	£	£
As at 1 January 2025	161,505	727,901
Profit for the year and total comprehensive income	-	520,372

Movements in fair value reserve	63,832	-
Transfer to/from Fair value reserve	-	(63,831)

As at 31 December 2025	225,337	1,184,442

Page 7

Page 8

Inspire Capital Propco Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

15. Related Party Transactions

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 or parent companies within the group.

Inspire Capital Limited

Related by virtue of its common directors/shareholders

Intercompany loan balance brought forward £1,450,154, further loans in year £727,665, repayments made £835,000, balance carried forward £1,342,819.

Page 8