Buster Jimmy Finance Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 11862244 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Buster Jimmy Finance Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

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

CURRENT ASSETS

Debtors

4

194,164,425

185,580,657

CREDITORS

Amounts falling due within one year

38,743,540

30,370,493

NET CURRENT ASSETS

155,420,885

155,210,164

TOTAL ASSETS LESS CURRENT
LIABILITIES

155,420,885

155,210,164

CREDITORS

Amounts falling due after more than one
year

5

159,330,259

NET LIABILITIES

(3,909,374

)

(4,120,095

)

CAPITAL AND RESERVES

Called up share capital

6

100

Retained earnings

(3,909,474

)

(4,120,195

)

SHAREHOLDERS' FUNDS

(3,909,374

)

(4,120,095

)

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 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 29 September 2025 and were signed on its behalf by:

M G Wright - Director

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 (2023 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Other debtors

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

2024

2023

£

Repayable otherwise than by instalments

Preference shares

159,330,259

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

100

Ordinary Shares

£1

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 2024 was £40,915,856 (2023: £43,876,464).

The balance owed by associated companies under common control at 31 December 2024 was £46,140,348 (2023: £36,358,837).

Interest is being charged at a rate of 2.75% above SONIA on the group and associated company loans.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Buster Jimmy Finance Holdings Limited.

9.	GOING CONCERN

During this year the company charged a market rate of interest on loans made and as a result has made a profit after tax of £2,198,517. The company still has an accumulated deficit in reserves of £1,921,678 but it is anticipated that this will become a positive reserve balance by 31 December 2025 as a result of the ongoing loan agreements with borrowers.The directors are therefore confident the company will remain a going concern.