Jimmy, a bookie cum horse buying agent, meets a beautiful dance hall girl. After leading him on, and out of his money, she rejects him. Jimmy hatches a scheme to wreak revenge on her. He pretends to be a talent agent and that she is his new discovery. he promises to make her a stage star. He engages an out of work Gilbert & Sullivan troupe on a performance of Gilbert & Sullivan's The Mikado in order to convince the girl that he is for real. All goes well and his scheme works. The only problem is that the girl now loves him, as does the entire, previously down on their luck troupe of players.