ACCOUNTS - Final Accounts preparation

Company Registration Number 13906590

	SADEL ASSET MANAGEMENT LIMITED

	FINANCIAL STATEMENTS

	31 DECEMBER 2025

SADEL ASSET MANAGEMENT LIMITED

REGISTERED NUMBER: 13906590

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible fixed assets			10,628		14,875
Fixed Asset Investments	5		100		200
			10,728		15,075
Current assets
Debtors: amounts falling due within one year	6	395,937		1,431,041
Cash at bank and in hand	7	438,227		56,902
		834,164		1,487,943
Creditors: amounts falling due within one year	8	(617,950)		(1,078,254)
Net current assets			216,214		409,689
Total assets less current liabilities			226,942		424,764

Net assets			226,942		424,764

Capital and reserves
Called up share capital	100	100
Profit and loss account	226,842	424,664
	226,942	424,764

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 September 2026

The notes on pages 3 to 7 form part of these financial statements.

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SADEL ASSET MANAGEMENT LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2024	100	258,037	258,137
Comprehensive income for the year
Profit for the year	-	166,627	166,627

At 1 January 2025	100	424,664	424,764
Comprehensive income for the year
Loss for the year	-	(197,822)	(197,822)
At 31 December 2025	100	226,842	226,942

The notes on pages 3 to 7 form part of these financial statements.

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SADEL ASSET MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

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.

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SADEL ASSET MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

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:

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.

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SADEL ASSET MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

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.

Employees

The average monthly number of employees, including directors, during the year was 13 (2024 - 11).

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SADEL ASSET MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 January 2025	35,970
	Additions	4,334
	At 31 December 2025	40,304
	Depreciation
	At 1 January 2025	21,095
	Charge for the year on owned assets	8,581
	At 31 December 2025	29,676
	Net book value
	At 31 December 2025	10,628
	At 31 December 2024	14,875

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2025	200
	Disposals	(100)
	At 31 December 2025	100

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

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SADEL ASSET MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Debtors

					2025	2024
					£	£


Amounts owed by Companies under common control	342,178	1,317,939
Other debtors	30,733	28,993
Prepayments and accrued income	23,026	84,109
	395,937	1,431,041

7.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	438,227	56,902
	438,227	56,902

8.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	386,213	7,984
Amounts owed to Companies under common control	26,450	906,043
Other taxation and social security	193,277	152,256
Other creditors	100	-
Accruals and deferred income	11,910	11,971
	617,950	1,078,254

9.	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.

10.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.

The audit report was signed on 17 September 2026 by Steven Williams (Senior statutory auditor) on behalf of Armstrong Watson Audit Limited.

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