BLUE MOTOR FINANCE LIMITED

1. BLUE MOTOR FINANCE LIMITED 2014-07-17 → present
2. PARK MOTOR FINANCE LIMITED 2003-02-14 → 2014-07-17
3. PARK ASSET FINANCE LIMITED 1992-10-06 → 2003-02-14
4. PACKEXCESS LIMITED 1992-08-07 → 1992-10-06

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

FRS 102

Reporting scope

Consolidated group

Auditor

PKF Littlejohn LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Group structure

1. BLUE MOTOR FINANCE LIMITED · parent
   1. Azure Finance No.2 Plc 0% · UK · Public Securitisation
   2. Blue Motor Finance DD Limited 0% · UK · Securitisation vehicle
   3. Blue Motor Finance DD 2 Limited 0% · UK · Securitisation vehicle
   4. Blue Motor Finance DD 3 Limited 0% · UK · Securitisation vehicle
   5. BMF SME Finance Limited 0% · UK · Securitisation Vehicle

Significant events

• “The sudden arrival of the Covid pandemic in early 2020, began several years of upheaval and shocks in the economy with deep repercussions in the industry.”
• “Blue recognised the need to change and adapt, in order to become a more robust business and allow sustained future growth and profits. During 2024, Blue carried out a full review of the Group operating model, spearheaded by our new CEO, Ali Chaudhry, who we were delighted to welcome to the business in August.”
• “To facilitate the required changes within the Group, some difficult decisions needed to be taken in 2024. These included rationalisation of the dealer and broker networks to exit low returning introducers, a strict cost reduction programme - including renegotiation of major supplier contracts, a companywide restructuring - including reorganisation of internal functions, and a detailed review of funding processes and relationships - ensuring long-term sustainable funding sources for future originations.”
• “A decision had already been made at the start of the year to pause lending within the Groups SME finance loan division. Subsequently, the Groups broker division that earned commission from motor finance loans lent by third parties that did not fit the Groups credit criteria, as well as the Blue Direct to consumer lending division, were also closed.”
• “Separate to the internal changes Blue are making, there have been significant external market pressures in the industry, as a consequence of various legal cases being adjudicated during late 2024. Several of which will be going through appeals in early 2025.”
• “In January 2024, the decision was taken to pause the Group's SME Lending product line, which originated finance loans to car dealerships and from the end of February 2024, no further finance loan receivables were issued.”
• “In December 2024 the Company issued £15,338,317 of share capital in order to repay the outstanding principal and interest balance of the Subordinated loan. The loan facility was then terminated.”
• “Azure Finance No.2 Plc ceased trading in December 2023 and is currently in the process of being liquidated which is anticipated will be completed during 2025.”
• “BMF SME Finance Limited ceased trading in May 2024. It is currently in the process of being liquidated which is anticipated will be completed during 2025.”

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

Filings

8

last 12 months

Capital events

1

last 24 months

Officers appointed

3

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

  -18.5%

  £48,722,000 → £39,728,000

• Cash

  -27.5%

  £39,665,000 → £28,745,000

• Net assets

  -20.4%

  £39,190,000 → £31,186,000

• Employees

  +6.1%

  230 → 244

• Operating profit

  -149.9%

  £17,331,000 → -£8,655,000

• Profit before tax

  -191%

  -£10,642,000 → -£30,969,000

• Wages

  +9.8%

  £12,479,000 → £13,698,000

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