REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Buster Jimmy Private Equity Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Buster Jimmy Private Equity Limited |
Buster Jimmy Private Equity Limited (Registered number: 13925999) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Buster Jimmy Private Equity Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
6 Lichfield Street |
Burton on Trent |
Staffordshire |
DE14 3RD |
Buster Jimmy Private Equity Limited (Registered number: 13925999) |
Abridged Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 5 |
Revaluation reserve | 6 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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 |
Buster Jimmy Private Equity Limited (Registered number: 13925999) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Buster Jimmy Private Equity Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
The company's investments are held for a return in the medium term. The directors have arranged an ongoing finance line to support the company's objectives and are satisfied that cashflow will be available to meet the company's needs until returns are realised. The accounts have been prepared on the going concern basis which the directors consider to be appropriate. |
Turnover |
Turnover represents the investment income receivable by the company during the period. This is in the form of interest receivable and franked investment income. |
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 or deferred taxation assets and liabilities are not discounted. |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Fixed asset investments |
Listed investments and other investments where the fair value can be measured reliably are shown at fair value. The movements in fair value are recognised in the income statement as "Gain/loss on revaluation of investments". |
Fair value of private equity investments is taken as the valuation closest to the year end. |
Debtors |
Short term debtors are measured at transaction price less any impairment. Amounts due from related parties are measured initially at fair value and consideration given to any impairment necessary. |
Long term debtors are measured at the transaction value and any potential impairment in value recognised through the profit and loss account. |
Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value net of transaction costs and are measured subsequently as required by accounting standard FRS102. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
Buster Jimmy Private Equity Limited (Registered number: 13925999) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST OR VALUATION |
At 1 January 2023 | 60,043,838 |
Additions | 16,978,268 |
Disposals | (19,313,648 | ) |
Revaluations | 4,727,667 |
At 31 December 2023 | 62,436,125 |
NET BOOK VALUE |
At 31 December 2023 | 62,436,125 |
At 31 December 2022 | 60,043,838 |
Cost or valuation at 31 December 2023 is represented by: |
Totals |
£ |
Valuation in 2023 | 8,464,731 |
Cost | 53,971,394 |
62,436,125 |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
6. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2023 |
Transfer | 3,806,014 |
At 31 December 2023 |
7. | CAPITAL COMMITMENTS |
The company is committed to further investment in the investment portfolio to the value of £44,368,761 some of which has been converted from Euros to the equivalent sterling value using the exchange rate ruling at the year end. |
8. | RELATED PARTY DISCLOSURES |
The balance owing to the company by group undertakings at 31 December 2023 was £1 (2022: £1). |
The balance owing by associated companies under common control at 31 December 2023 was £Nil (2022: £3,951,360). |
The balance owing to group undertakings at 31 December 2023 was £43,876,464 (2022: £53,449,363). |
The balance owing to associated companies under common control at 31 December 2023 was £4,845,421 (2022: £Nil). |
Interest is being charged on the balance owing to the group undertakings at the rate of 3% per annum. |
Buster Jimmy Private Equity Limited (Registered number: 13925999) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is Buster Jimmy Finance Holdings Limited. |