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REGISTERED NUMBER: 11862244 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Buster Jimmy Finance Limited

Buster Jimmy Finance Limited (Registered number: 11862244)






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 Finance Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M G Wright
Mrs C R Wright





SECRETARY: M G Wright





REGISTERED OFFICE: 47A Queen Street
Derby
DE1 3DE





REGISTERED NUMBER: 11862244 (England and Wales)





ACCOUNTANTS: Bourne and Co.
Chartered Accountants
6 Lichfield Street
Burton on Trent
Staffordshire
DE14 3RD

Buster Jimmy Finance Limited (Registered number: 11862244)

Abridged Balance Sheet
31 December 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 185,580,657 178,139,592

CREDITORS
Amounts falling due within one year 30,370,493 21,775,575
NET CURRENT ASSETS 155,210,164 156,364,017
TOTAL ASSETS LESS CURRENT
LIABILITIES

155,210,164

156,364,017

CREDITORS
Amounts falling due after more than one
year

5

159,330,259

159,330,259
NET LIABILITIES (4,120,095 ) (2,966,242 )

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings (4,120,195 ) (2,966,342 )
SHAREHOLDERS' FUNDS (4,120,095 ) (2,966,242 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 17 September 2024 and were signed on its behalf by:





M G Wright - Director


Buster Jimmy Finance Limited (Registered number: 11862244)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Buster Jimmy Finance Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

The financial statements have been drawn up on the going concern basis and we refer to note 9 to the financial statements explaining the position.

Revenue recognition
Revenue for the company comprises the fair value of the consideration received or receivable.
The interest receivable is recognised on a time proportion basis using the effective rate of interest method. The interest receivable is on loan notes issued and also loans given to other parties at a commercial rate.

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.

Investments in financial assets
Loans and receivables are non derivative financial assets with fixed or determinable payments that are not quoted in an active market. They arise when the company provides notes to a debtor with no intention of trading the receivable. They are included within noncurrent assets as they are related to Loan notes redeemable by 2040.

Borrowings
Redeemable Preference Shares which are mandatorily redeemable on a specific date are classified as liabilities. The dividends on these preference shares are taken to the income statement as a finance expense.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Buster Jimmy Finance Limited (Registered number: 11862244)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other debtors 92,831,831 92,831,831

The other debtors falling due after more than 5 years are loan notes with Buster Jimmy Investments Limited which are unsecured Redeemable Loan Notes 2040. Interest is receivable at the rate of 2.5% per annum.

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2023 2022
£    £   
Repayable otherwise than by instalments
Preference shares 159,330,259 159,330,259

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary Shares £1 100 100

Ordinary shares are classified as equity. Mandatorily redeemable preference shares are classified as liabilities.

7. RELATED PARTY DISCLOSURES

The balance owed by group undertakings at 31 December 2023 was £43,876,464 (2022: £53,449,363).

The balance owed by associated companies under common control at 31 December 2023 was £36,358,837 (2022: £22,990,902).



Interest is charged on the group debt at the rate of 3% per annum. No interest has been charged on the associated company debts but subsequent to the year end agreement has been reached to charge a market rate on such debts.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Buster Jimmy Finance Holdings Limited.

9. GOING CONCERN

The company has incurred a loss in the year of £1,153,853 and has accumulated a deficit of £4,120,195.

Subsequent to the year end the directors have reached agreements with associated companies to charge a market rate of interest. In addition the directors have continued to seek other suitable lending opportunities. Consequently there has been an increase in the turnover and the directors are confident the company will remain a going concern.