REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Buster Jimmy Glendower Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Buster Jimmy Glendower Ltd |
Buster Jimmy Glendower Ltd (Registered number: 13631119) |
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 Glendower Ltd |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
6 Lichfield Street |
Burton on Trent |
Staffordshire |
DE14 3RD |
Buster Jimmy Glendower Ltd (Registered number: 13631119) |
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 director acknowledges his 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 director and authorised for issue on |
Buster Jimmy Glendower Ltd (Registered number: 13631119) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Buster Jimmy Glendower Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Fixed asset investments |
Other investments held as fixed assets 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. |
Creditors |
Short term creditors are measured at the transaction price. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
Buster Jimmy Glendower Ltd (Registered number: 13631119) |
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 | 5,530,795 |
Additions | 1,260,798 |
Revaluations | 1,527,798 |
Exchange differences | (542,603 | ) |
At 31 December 2023 | 7,776,788 |
NET BOOK VALUE |
At 31 December 2023 | 7,776,788 |
At 31 December 2022 | 5,530,795 |
Cost or valuation at 31 December 2023 is represented by: |
Totals |
£ |
Valuation in 2023 | 4,292,012 |
Cost | 3,484,776 |
7,776,788 |
The investments were revalued at 31 December 2023. |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
6. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2023 |
Transfer between reserves | 1,303,205 |
At 31 December 2023 |
7. | CAPITAL COMMITMENTS |
The company is committed to further investment in the investment portfolio to the value of $13,206,060 or the equivalent sterling value of £10,373,967 using the exchange rate ruling at the year end. |
8. | RELATED PARTY DISCLOSURES |
The balances owed to associated companies at 31 December 2023 was £3,555,646 (2022: £3,230,653). |
The balances owed to group companies at 31 December 2023 was £935,151. At 31 December 2022 the amount owed by group companies was £100. |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is Buster Jimmy Limited. |
The ultimate controlling party is |