SHOGUN FINANCE LIMITED

1. SHOGUN FINANCE LIMITED 1985-12-23 → present
2. VENEZ TRADING LIMITED 1985-11-22 → 1985-12-23

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least 12 months from the date of approval of the accounts and noting the expectation is that loans and advances to customers will broadly have been paid down by 2026 and the Company will be considered for liquidation at this point. As set out in note 2, the Company has uncertainty in relation to the outcomes of the FCA review into historical motor finance commission arrangements and sales, and where the Supreme Court granted the relevant lenders permission to appeal the Wrench, Johnson and Hopcraft ("WJH") judgement and the substantive hearing that is scheduled to be heard on 1 April to 3 April 2025. There is uncertainty over whether or not the Company is obligated to settle potential costs for claims and BHL, the main trading entity, have not clarified their position on the possibility of recharging potential costs for claims to the Company. The Directors have considered the support available to cover any liability that should arise in the Company in the event of adverse outcomes from the FCA review or the Supreme Court hearing, and having consulted on this, conclude that it is appropriate to continue to adopt the going concern basis of accounting in preparing the annual financial statements. Further details regarding the adoption of the going concern basis can be found in note 1.1 to the financial statements.”

Significant events

• “In July 2020 Mitsubishi Motors informed The Colt Car Company Limited (importer of Mitsubishi vehicles) of their intention to exit the new car market in the UK in 2021. Consequently, the Company ceased to on-board new retail finance agreements and provide dealer finance facilities.”
• “The expectation is that loans and advances to customers will broadly have been paid down by 2026 and the Company will be considered for liquidation at this point.”
• “uncertainty in relation to the outcomes of the FCA review into historical motor finance commission arrangements and sales, and where the Supreme Court granted the relevant lenders permission to appeal the Wrench, Johnson and Hopcraft ("WJH") judgement and the substantive hearing that is scheduled to be heard on 1 April to 3 April 2025.”
• “BHL has recognised a provision as at 31 December 2024 for the potential impact of the CoA judgement, subsequent SC appeal and the FCA review on the Group's Transport customers, which includes the customers of this Company. There is continued uncertainty over the final outcome of the FCA's review... and the Company recognises that there is a contingent liability for this exposure at 31 December 2024.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

2

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -60.8%

  £3,050,000 → £1,195,000

• Cash

  —

  Not reported

• Net assets

  +6.5%

  £8,853,000 → £9,425,000

• Employees

  -50%

  2 → 1

• Operating profit

  -69.2%

  £2,476,000 → £763,000

• Profit before tax

  -69.2%

  £2,476,000 → £763,000

• Wages

  -25.4%

  £114,000 → £85,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers