Company registration number 02916402 (England and Wales)
T.B.I. FINANCIAL SERVICES LTD.
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
PAGES FOR FILING WITH REGISTRAR
T.B.I. FINANCIAL SERVICES LTD.
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 11
T.B.I. FINANCIAL SERVICES LTD.
BALANCE SHEET
AS AT
30 APRIL 2026
30 April 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
4
16,285
7,002
Investments
5
455,072
102,944
471,357
109,946
Current assets
Debt Portfolios
7
10,175,126
9,178,016
Debtors falling due within one year
8
157,548
168,509
Cash at bank and in hand
4,905,582
4,302,916
15,238,256
13,649,441
Creditors: amounts falling due within one year
9
(1,244,565)
(795,288)
Net current assets
13,993,691
12,854,153
Total assets less current liabilities
14,465,048
12,964,099
Deferred tax liability
(11,444)
-
0
Net assets
14,453,604
12,964,099
Capital and reserves
Called up share capital
11
30
30
Capital redemption reserve
30
30
Profit and loss reserves
14,453,544
12,964,039
Total equity
14,453,604
12,964,099

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 14 August 2026 and are signed on its behalf by:
Mr K Edgar
Mr D Jones
Director
Director
Company registration number 02916402 (England and Wales)
T.B.I. FINANCIAL SERVICES LTD.
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2026
- 2 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 May 2024
30
30
13,098,984
13,099,044
Year ended 30 April 2025:
Loss and total comprehensive expense
-
-
(134,945)
(134,945)
Balance at 30 April 2025
30
30
12,964,039
12,964,099
Year ended 30 April 2026:
Profit and total comprehensive income
-
-
1,489,505
1,489,505
Balance at 30 April 2026
30
30
14,453,544
14,453,604
T.B.I. FINANCIAL SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
- 3 -
1
Accounting policies
Company information

T.B.I. Financial Services Ltd. is a private company limited by shares incorporated in England and Wales. The registered office is First Floor, The Robert Cort Building, Elgar Road South, Reading, United Kingdom, RG2 0DL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain fixed asset investments at fair value. The principal accounting policies adopted are set out below.

The financial statements present information about the company as an individual undertaking and not about its group. The company has not prepared group accounts as the relevant group qualifies as small.

The company has taken advantage of the exemptions provided by FRS 102 Section 33, not to disclose transactions and outstanding balances with its wholly owned subsidiary Go Debt Limited.

1.2
Turnover

Turnover represents collections from debt portfolios recognised on a cash basis and arises entirely in the United Kingdom.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings and equipment
3 - 5 years straight line
Motor vehicles
3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Investments in subsidiaries

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

T.B.I. FINANCIAL SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
1
Accounting policies
(Continued)
- 4 -

Other Investments

Other investments are investments in shares not in another group entity. They are stated at fair value, with changes in fair value recognised in profit or loss. Profit or losses arising from disposals of fixed asset investments are treated as part of the profit before tax.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

T.B.I. FINANCIAL SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
1
Accounting policies
(Continued)
- 5 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

T.B.I. FINANCIAL SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
1
Accounting policies
(Continued)
- 6 -
1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

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 and 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 and 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
Amortisation of debt portfolios

The debt portfolios represent old debts purchased from financial institutions, which these institutions have found difficult to collect. The portfolios are amortised over six to eight years on a straight line basis. This method has been applied consistently for a number of years. The directors monitor the recoverability of the relevant debts and the amortisation method is considered appropriate and prudent.

Bad debts

The directors monitor the recoverability of the debt portfolios and other debtors. P rovisions are put in place as and when this is considered necessary, depending on the underlying circumstances.

Valuation of fixed asset investments other than shares in group undertakings

Fixed asset investments other than shares in group undertakings are valued based on their fair value at the year end date which is the latest available quoted price on that day.

T.B.I. FINANCIAL SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
- 7 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Administration
11
10
Debt Collection
18
18
Total
29
28
4
Tangible fixed assets
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 May 2025
281,099
65,648
346,747
Additions
14,617
-
0
14,617
Disposals
(7,739)
-
0
(7,739)
At 30 April 2026
287,977
65,648
353,625
Depreciation and impairment
At 1 May 2025
274,097
65,648
339,745
Depreciation charged in the year
5,334
-
0
5,334
Eliminated in respect of disposals
(7,739)
-
0
(7,739)
At 30 April 2026
271,692
65,648
337,340
Carrying amount
At 30 April 2026
16,285
-
0
16,285
At 30 April 2025
7,002
-
0
7,002
5
Fixed asset investments
2026
2025
£
£
Investments in subsidiaries
2
2
Other investments
455,070
102,942
455,072
102,944
T.B.I. FINANCIAL SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
5
Fixed asset investments
(Continued)
- 8 -
Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 May 2025
2
102,942
102,944
Additions
-
300,000
300,000
Valuation changes
-
52,128
52,128
At 30 April 2026
2
455,070
455,072
Carrying amount
At 30 April 2026
2
455,070
455,072
At 30 April 2025
2
102,942
102,944
6
Subsidiaries

Details of the company's subsidiaries at 30 April 2026 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Indirect
Go Debt Limited
1st Floor The Robert Cort Building, Elgar Road South, Reading, Berkshire, RG2 0DL
Dormant
Ordinary
100.00
-
T.B.I. FINANCIAL SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
- 9 -
7
Debt Portfolios
Debt Portfolios
£
Cost
At beginning of year
17,709,589
Additions
3,968,724
Disposals
(282,167)
Buybacks
(138,141)
At end of year
21,258,005
Amortisation
At beginning of year
8,531,573
Amortisation for the year
2,833,473
Eliminated in respect of disposals
(282,167)
At end of year
11,082,879
Net book value
At 30 April 2026
10,175,126
At 30 April 2025
9,178,016
8
Debtors
2026
2025
Amounts falling due within one year:
£
£
Other debtors
157,548
162,491
Deferred tax asset
-
0
6,018
157,548
168,509
9
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
59,443
31,873
Amounts owed to subsidiary undertaking
156,070
156,070
Corporation tax
485,330
72,173
Other taxation and social security
39,936
45,407
Other creditors
503,786
489,765
1,244,565
795,288
T.B.I. FINANCIAL SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
- 10 -
10
Retirement benefit schemes
2026
2025
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
25,421
24,832

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

11
Called up share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
30
30
30
30

The shares have attached to them full voting, dividend and capital distribution (including on winding up) rights; they do not confer any rights of redemption.

12
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2026
2025
£
£
Total commitments
284,436
366,220
13
Other financial commitments

The company has entered into two agreements with financial institutions to purchases debt portfolios on a monthly basis for the foreseeable future. The directors are of the opinion that disclosing the details of these agreements may be prejudicial for the company's interests. In addition to that, the monthly amounts to be purchase d change and therefore disclosing the amounts of the relevant commitments would not be sufficiently accurate.

14
Related party transactions

The company has taken advantage of the exemptions provided by FRS 102 Section 33, not to disclose transactions and outstanding balances with its wholly owned subsidiary, Go Debt Limited.

15
Parent company

Mr David Jones is considered to be the ultimate controlling party b y virtue of his majority shareholding.

T.B.I. FINANCIAL SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
- 11 -
16
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report was unqualified.

Senior Statutory Auditor:
Nikolaos Ioannidis
Statutory Auditor:
Shaw Gibbs (Audit) Limited
Date of audit report:
17 August 2026
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