|
Registered number: 07276948
BISHOPSFIELD CAPITAL PARTNERS LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2026
|
|
BISHOPSFIELD CAPITAL PARTNERS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2026
This strategic report is a summary of the Directors’ views on how the Company has performed during the year ended 31 March 2026.
The Company’s strategy remained the same as in the previous financial year; to i) maintain the Financial Advisory business that it undertakes for existing clients and ii) expand the number of clients and transactions it undertakes in relation to the Credit Risk Services business.
During the year, the Company maintained its long-term strategic partnership with a financial institution to whom it largely provides transactional financial advice. The pipeline of transactional activity in this strategic partnership remained strong with the Company helping its partner secure a number of attractive mandates across the digital infrastructure, real estate and financial institutions sectors.
The Company extended and expanded its Financial Advisory mandate for a client with whom it has successfully closed several debt raising transactions over the last few years. During the course of the year the Company assisted the client with launching a new debt raising for a portfolio of assets in Europe and assisted the client with the closing of it’s first securitisation in Europe. Work on a new financing in Asia continued but closing was delayed. The Company continued to advise the client on a variety of strategic initiatives in relation to its future financing needs, management of its rapidly expanding balance sheet and management of its lender relationships.
A couple of new advisory mandates were signed for new clients. These mandates are in the early stage of development.
Activity for the existing clients of the Credit Risk Services business largely remained stable. The general trend of an improvement in the underlying credit quality of the assets that have previously required enhanced activities continued. There were however a small number of assets which generated ancillary revenues generated from enhanced activities. Consequently, the Credit Risk Services fees from existing clients increased due to these mandates all benefitting from an annual uplift in line with inflation. Aggregate revenue generated by Credit Risk Services increased slightly as a result of the Company increasing its activities for a major global fund manager. The Company has actively pitched its Credit Risk Services product to a select group of large global fund management companies with a specific focus on assisting with the management of large debt portfolios they acquire, especially in the infrastructure and real estate sectors. The Company is hopeful that this will result in additional Credit Risk Services mandates. The Company sees this as a long-term investment in developing this business as the pace can be relatively slow given the nature and frequency of the underlying transactions.
|
|
BISHOPSFIELD CAPITAL PARTNERS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Principal risks and uncertainties
|
As with any firm, the Company is exposed to the risk of a downturn in the volume of business that it can generate. The Credit Risk Services business is protected from this risk as the business model is based upon entering into long term contracts for the provision of services. However, this business is not immune to contracts reaching maturity or being cancelled and one significant mandate reached its maturity during the next financial year. The Financial Advisory business line is much more susceptible to fluctuating revenues given the lifecycle of a transaction is short and the bulk of revenues generated are success fee based. A meaningful proportion of the Company’s revenues are denominated in EUROs and as a consequence revenues are susceptible to movements in the £:EURO exchange rate. Operationally, the Company's performance is reliant upon the knowledge and expertise of its staff. The partners have all been active in the financial markets for over twenty years. The Company actively focuses on staff development and retention and incentivises its staff with a combination of profit sharing and bonuses depending on role and responsibilities.
The Company has no debt and consequently is not exposed to risks associated with potential interest rate rises. The Company is exposed to risks associated with inflation, particularly in relation to employee costs, but this risk is partly mitigated by revenues generated by the Credit Risk Services business where contracts have annual CPI adjustments.
One of the Company’s large financial advisory mandates is due for renewal at the end of 2026.
Financial key performance indicators
|
The Company measures its financial performance against budget with a focus on long-term profit. For the financial year, the Company had budgeted the profit before tax to increase quite substantially due to a combination of increased revenues for the Financial Advisory and Credit Risk Services businesses. Revenues did increase modestly by 3% and the Company did manage to achieve its budget for the financial year. Costs were 4% higher than the previous year driven mainly by higher staff costs and inflationary pressure on other business expenses. Against this backdrop, the Directors considered the financial performance of the Company during the year to be positive and with the hope that it will be possible to grow the proportion of revenue from the Credit Risk Services business going forward.
This report was approved by the board and signed on its behalf.
|
|
BISHOPSFIELD CAPITAL PARTNERS LIMITED
REGISTERED NUMBER: 07276948
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2026
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debtors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital redemption reserve
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BISHOPSFIELD CAPITAL PARTNERS LIMITED
REGISTERED NUMBER: 07276948
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2026
The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
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 on 23 July 2026.
The notes on pages 6 to 11 form part of these financial statements.
|
|
BISHOPSFIELD CAPITAL PARTNERS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2026
Cash flows from operating activities
|
|
|
Profit for the financial year
|
|
|
|
|
|
|
Depreciation of tangible assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash generated from operating activities
|
|
|
|
|
|
|
Cash flows from investing activities
|
|
|
Purchase of tangible fixed assets
|
|
|
|
|
|
|
Net cash from investing activities
|
|
|
Cash flows from financing activities
|
|
|
Purchase of ordinary shares
|
|
|
|
|
|
|
Net cash used in financing activities
|
|
|
Net increase in cash and cash equivalents
|
|
|
Cash and cash equivalents at beginning of year
|
|
|
Cash and cash equivalents at the end of year
|
|
|
|
|
|
|
Cash and cash equivalents at the end of year comprise:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The notes on pages 6 to 11 form part of these financial statements.
|
|
|
BISHOPSFIELD CAPITAL PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Bishopsfield Capital Partners Limited is a private company, limited by shares, incorporated in England and Wales (registered number: 07276948). The registered office address of the company is 101 New Cavendish Street, London, W1W 6XH.
The nature of the Company's operations and its principal activities are set out in the strategic report.
The financial statements are presented in Sterling, which is the functional currency of the Company.
2.Accounting policies
|
|
|
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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
|
|
|
Foreign currency translation
|
Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
|
|
BISHOPSFIELD CAPITAL PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
|
|
BISHOPSFIELD CAPITAL PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
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:
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.
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.
|
|
|
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.
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.
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.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
|
|
BISHOPSFIELD CAPITAL PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
The average monthly number of employees, including the directors, during the year was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Charge for the year on owned assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BISHOPSFIELD CAPITAL PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prepayments and accrued income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other taxation and social security
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BISHOPSFIELD CAPITAL PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
Allotted, called up and fully paid
|
|
|
|
|
|
|
|
|
|
|
|
29,700 (2025 - 29,700) Ordinary 'A1' shares of £1.00 each
|
|
|
|
|
|
14,936 (2025 - 22,839) Ordinary 'A2' shares of £1.00 each
|
|
|
|
|
|
23,335 (2025 - 23,335) Ordinary 'B' shares of £1.00 each
|
|
|
|
|
|
11,786 (2025 - 11,786) Ordinary 'C' shares of £1.00 each
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
During the year the company bought back and cancelled 7,903 (2024: 6,861) Ordinary 'A2' shares of £1 each.
|
There is no ultimate controlling party.
The auditors' report on the financial statements for the year ended 31 March 2026 was unqualified.
The audit report was signed on 23 July 2026 by Jamie Taylor (Senior Statutory Auditor) on behalf of Harris & Trotter LLP.
|