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Company Registration Number 13906590























SADEL ASSET MANAGEMENT LIMITED





FINANCIAL STATEMENTS





 31 DECEMBER 2024























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SADEL ASSET MANAGEMENT LIMITED
REGISTERED NUMBER: 13906590

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
14,875
15,353

Investments
 5 
200
-

  
15,075
15,353

Current assets
  

Debtors: amounts falling due within one year
 6 
1,431,041
646,196

Cash at bank and in hand
 7 
56,902
56,906

  
1,487,943
703,102

Creditors: amounts falling due within one year
 8 
(1,078,254)
(460,318)

Net current assets
  
 
 
409,689
 
 
242,784

Total assets less current liabilities
  
424,764
258,137

  

Net assets
  
424,764
258,137


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
424,664
258,037

  
424,764
258,137


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
A C Lawrence
Director

Date: 16 July 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 1

 
SADEL ASSET MANAGEMENT LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2023
100
61,925
62,025


Comprehensive income for the year

Profit for the year
-
196,112
196,112
Total comprehensive income for the year
-
196,112
196,112



At 1 January 2024
100
258,037
258,137


Comprehensive income for the year

Profit for the year
-
166,627
166,627
Total comprehensive income for the year
-
166,627
166,627


At 31 December 2024
100
424,664
424,764


The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SADEL ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The company is a private company limited by shares incorporated and domiciled in the United Kingdom. Its registered office is Magnavale House, Park Road, Holmewood Industrial Park, Chesterfield, Derbyshire, S42 5UY.

These financial statements have been presented in Pound Sterling ('£') as this is the currency of the primary economic environment in which the company operates and have been rounded to the nearest pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The directors have prepared cashflow forecasts and the forecast outlook underpins the directors' expectations that the business will continue to operate as a going concern for the foreseeable future. Continued financial support is available from its parent company in the event that additional funding is required for the company to meet its obligations as they fall due. The directors therefore believe that there are no material uncertainties that may cast significant doubt on the company’s ability to continue as a going concern.

 
2.3

Revenue

Revenue is the amount derived from ordinary activities and consists of the transactions between UK group companies under common control. This is measured at the fair value of the consideration received or receivable.

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Page 3

 
SADEL ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
33%
straight line
Office equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
SADEL ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 11).

Page 5

 
SADEL ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
5,284
24,305
29,589


Additions
-
12,562
12,562


Disposals
(5,284)
(897)
(6,181)



At 31 December 2024

-
35,970
35,970



Depreciation


At 1 January 2024
2,642
11,594
14,236


Charge for the year on owned assets
-
10,308
10,308


Disposals
(2,642)
(807)
(3,449)



At 31 December 2024

-
21,095
21,095



Net book value



At 31 December 2024
-
14,875
14,875



At 31 December 2023
2,642
12,711
15,353


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
200



At 31 December 2024
200




Page 6

 
SADEL ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Debtors

2024
2023
£
£


Amounts owed by Companies under common control
1,317,939
224,200

Other debtors
28,993
32,182

Prepayments and accrued income
84,109
389,814

1,431,041
646,196



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
56,902
56,906

56,902
56,906



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
7,984
9,471

Amounts owed to Companies under common control
906,043
352,811

Amounts owed to other participating interests
-
86,687

Other taxation and social security
152,256
-

Accruals and deferred income
11,971
11,349

1,078,254
460,318



9.


Post balance sheet events

Following the year end, the company sold its investment in SAML1 Ltd at par value to another company under common control.


10.


Controlling party

The immediate parent undertaking is Sadel Management S.à r.l., a company registered in Luxembourg.
The ultimate parent company is Sadel Group S.à r.l., a company registered in Luxembourg.
The ultimate controlling party by virtue of his 100% shareholding in Sadel Group S.à r.l. is S A Lawrence.

Page 7

 
SADEL ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 18 July 2025 by Steven Williams (Senior statutory auditor) on behalf of Armstrong Watson Audit Limited.


Page 8