REGISTERED NUMBER: 05649414 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

COMPASS BUSINESS FINANCE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J D Nelson

M D Nelson

D M Bunker

SECRETARY:

M D Nelson

REGISTERED OFFICE:

Compass House

Medway Wharf Road

Tonbridge

Kent

TN9 1GH

REGISTERED NUMBER:

05649414 (England and Wales)

ACCOUNTANTS:

Fortus Limited

Business Advisors & Accountants

Equinox House

Clifton Park, Shipton Road

York

Yorkshire

YO30 5PA

FIXED ASSETS

Tangible assets

4

26,475

35,285

CURRENT ASSETS

Debtors

5

70,544,555

57,667,601

Cash at bank and in hand

1,612,993

911,901

72,157,548

58,579,502

CREDITORS

Amounts falling due within one year

6

27,774,535

22,543,106

NET CURRENT ASSETS

44,383,013

36,036,396

TOTAL ASSETS LESS CURRENT LIABILITIES

44,409,488

36,071,681

CREDITORS

Amounts falling due after more than one year

7

(36,492,002

)

(29,124,226

)

PROVISIONS FOR LIABILITIES

-

(697

)

NET ASSETS

7,917,486

6,946,758

CAPITAL AND RESERVES

Called up share capital

9,999

9,999

Retained earnings

7,907,487

6,936,759

SHAREHOLDERS' FUNDS

7,917,486

6,946,758

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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 23 September 2025 and were signed on its behalf by:

J D Nelson - Director

1.	STATUTORY INFORMATION

Compass Business 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.

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.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates ad associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates are underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Accrual for clawbacks: The company receives commission when clients are introduced to the ultimate funder. However, where the client withdraws from the deal within a set period, the funder can claw back some of the commission already paid. This is an area of estimation whereby the directors use their knowledge and experience to estimate the amount of commission that will be clawed back as at the year end.

Turnover

Turnover represents amounts receivable for commissions and operating lease rentals net of VAT and trade discounts. In addition, turnover includes finance funding interest which is accounted for on an accrual basis.

Finance lease and instalment credit agreements: Income from assets leased to customers and from instalment credit agreements is determined by spreading interest and charged over the period of repayment in proportion to the net cash investment. Amounts due from customers under finance lease and instalment credit agreements are included in debtors.

Other income: Fees and commission income are recognised on an accruals basis and are stated net of VAT where applicable.

Tangible fixed assets

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

Operating lease assets - Straight line over period of lease

Fixtures, fittings and equipment - 50% Straight line

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

132,230

Additions

19,341

At 31 December 2024

151,571

DEPRECIATION

At 1 January 2024

96,945

Charge for year

28,151

At 31 December 2024

125,096

NET BOOK VALUE

At 31 December 2024

26,475

At 31 December 2023

35,285

5.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

51,756

679,347

Amounts owed by group undertakings

390

390

Amounts receivable in respect of finance leases

20,962,031

16,441,244

Other debtors

1,523,537

967,669

22,537,714

18,088,650

Amounts falling due after more than one year:

Amounts receivable in respect of finance leases

48,006,841

39,578,951

Aggregate amounts

70,544,555

57,667,601

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,180,618

91,997

Taxation and social security

273,775

605,838

Other creditors

26,320,142

21,845,271

27,774,535

22,543,106

Other creditors includes block discount financing agreements of £22,806,019 (2023 - £17,126,946), which are secured by fixed charges over the underlying finance agreements.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

36,492,002

29,124,226

Other creditors includes block discount financing agreements of £36,434,049 (2023 - £28,905,476), which are secured by fixed charges over the underlying finance agreements.

8.	RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary of CBF Holdings Limited, a company registered in England and Wales, which is the immediate and ultimate parent undertaking, CBF Holdings Limited is not required to prepare group accounts.