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Registered number: 11136768
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UNAUDITED FINANCIAL STATEMENTS
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FOR THE YEAR ENDED
31 JANUARY 2026
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SANDFIELD CAPITAL LIMITED
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SANDFIELD CAPITAL LIMITED
REGISTERED NUMBER:11136768
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STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2026
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current assets/(liabilities)
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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 on 27 October 2026.
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SANDFIELD CAPITAL LIMITED
REGISTERED NUMBER:11136768
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2026
The notes on pages 3 to 15 form part of these financial statements.
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SANDFIELD CAPITAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
The company is a private company limited by share capital, incorporated in England. The address of the registered office is 8 Princes Parade, Liverpool, England, L3 1DL.
2.Accounting policies
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Basis of preparation of financial statements
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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 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 material accounting policies have been applied:
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SANDFIELD CAPITAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2.Accounting policies (continued)
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Changes in accounting policies and disclosures
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The Company has chosen to early adopt the FRS 102 Periodic Review 2024 amendments during the year. The date of initial application is 1 February 2025. The application of the amendments has resulted in changes to accounting policies for revenue and leases.
The Periodic Review 2024 amendments introduced significant changes to Section 23 Revenue from Contracts with Customers and Section 20 Leases. The revised Section 23 introduced new accounting requirements for revenue recognition based on the five-step model for revenue recognition from IFRS 15 Revenue from Contracts with Customers. The revised Section 20 Leases introduced new lease accounting requirements based on the on-balance sheet model from IFRS 16 Leases with appropriate simplifications.
(a) Section 23 - Revenue from Contracts with Customers
The Company applied the revised Section 23 retrospectively with the comparative information restated as if the revised Section 23 had always been applied.
The following tables summarise the impact of the Periodic Review 2024 amendments on the Company's financial statements as a result of applying the revised Section 23 retrospectively.
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Statement of financial position (extract)
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31 January 2025
As originally presented
£
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1 February 2025
Adjusted balance
£
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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SANDFIELD CAPITAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2.Accounting policies (continued)
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Changes in accounting policies and disclosures
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Statement of financial position (extract) (continued)
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31 January 2025
As originally presented
£
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31 January 2025
As restated
£
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1 February 2025
Adjusted balance
£
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31 January 2024
As originally presented
£
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Practical expedients used
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SANDFIELD CAPITAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2.Accounting policies (continued)
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Changes in accounting policies and disclosures
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The Company applied the following practical expedients when applying the FRS 102 amendments to revenue from contracts with customers:
∙The Company neither restated completed contracts at 1 February 2025 nor completed contracts that began and ended in that year.
∙The Company used the transaction price at the date the contract was completed for completed contracts that have variable consideration.
∙When identifying satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price to performance obligations, the Company has considered only the aggregate effect of all contract modifications made before 1 February 2025.
∙The Company has applied the practical expedient available on transition and has not disclosed the amount of the transaction price allocated to remaining performance obligations for comparative periods presented.
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Exemption from preparing consolidated financial statements
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The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
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SANDFIELD CAPITAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2.Accounting policies (continued)
Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
The Company recognises revenue from the following major sources:
Interest income
Drawdown income
The nature, timing of performance obligations and significant payment terms of the Company's major sources of revenue are as follows:
Interest income
Interest income arising from loans advanced to third parties is recognised in the profit and loss account using the effective interest method over the period of the loan.
Interest income is recognised independently of the outcome of the underlying legal proceedings funded by the loans, as the contractual obligation to repay the loan is not contingent upon the outcome of those proceedings.
Drawdown income
Drawdown fees charged to clients on the advance of funding are an integral part of the return on the funding arrangement.They are therefore not recognised in full when the funds are advanced. Instead, they are deferred and recognised in the profit and loss account on a straight-line basis over the anticipated life of the related funding agreement.The unrecognised balance is held within deferred income on the balance sheet.
Drawdown fees are non-refundable and are charged in respect of a minimum term under the terms of the funding agreement. The anticipated life of each agreement is estimated at drawdown by reference to the expected duration of the underlying case. Fees are recognised over this period irrespective of whether the agreement is settled earlier than anticipated, as the fee is contractually payable for the full term and is not refundable on early settlement.
Where the anticipated life is revised, the remaining deferred balance is recognised on a straight-line basis over the revised remaining period.
The Company as a lessee
At the commencement date of a lease, the Company recognises a right-of-use asset and a lease liability. The lease liability is initially measured at the present value of lease payments payable over the lease term, discounted using the interest rate implicit in the lease where this can be readily determined, or otherwise using the Company's obtainable borrowing rate.
Right-of-use assets are initially measured at cost and are subsequently depreciated over the shorter of the lease term and the useful economic life of the underlying asset. Interest on lease liabilities is recognised in profit or loss over the lease term.
After initial recognition, the right-of-use asset is depreciated on a straight-line basis over the shorter of the asset’s useful life or the lease term.
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.
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SANDFIELD CAPITAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2.Accounting policies (continued)
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
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.
The company has tax losses available for offset against future taxable profits. No deferred tax asset has been recognised in respect of these losses as it is not considered probable that sufficient future taxable profits will be available against which the losses can be utilised.
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.
Investments in subsidiaries are measured at cost less accumulated impairment.
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SANDFIELD CAPITAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2.Accounting policies (continued)
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.
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Cash and cash equivalents
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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.
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.
The company provides loan funding to customers and earns income through interest and drawdown fees.
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All turnover arose within the United Kingdom.
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The company provides loan funding to customers under individual loan agreements. Funding is advanced in accordance with the terms of each agreement, with the company earning interest and drawdown fees in connection with the provision of that funding.
Amounts are recognised by reference to the contractual terms of each loan agreement.
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The average monthly number of employees, including directors, during the year was 4 (2025 - 4).
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SANDFIELD CAPITAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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Charge for the year on owned assets
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Investments in subsidiary companies
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SANDFIELD CAPITAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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The following were subsidiary undertakings of the Company:
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Sandfield Capital Limited, 8 Princes Parade, Liverpool, England, L3 1DL.
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Sandfield Capital Limited, 8 Princes Parade, Liverpool, England, L3 1DL.
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Sandfield Capital Limited, 8 Princes Parade, Liverpool, England, L3 1DL.
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Sandfield Capital Limited, 8 Princes Parade, Liverpool, England, L3 1DL.
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The aggregate of the share capital and reserves as at 31 January 2026 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
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Aggregate of share capital and reserves
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Prepayments and accrued income
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SANDFIELD CAPITAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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SANDFIELD CAPITAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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SANDFIELD CAPITAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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During the year, the company entered into lease arrangements for motor vehicles. Right-of-use assets and corresponding lease liabilities have been recognised in respect of these arrangements.
Right-of-use assets are presented separately within the notes to the financial statements and are depreciated over the shorter of the lease term and their estimated useful economic lives.
Lease liabilities are initially measured at the present value of the lease payments, discounted using the interest rate implicit in the lease where this can be readily determined, or otherwise using the company's obtainable borrowing rate. Interest on lease liabilities is recognised within interest payable and similar expenses.
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Depreciation and impairment
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Lease liabilities are due as follows:
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Discount rates used in lease measurement
The lease liabilities relating to motor vehicles have been discounted using the company's obtainable borrowing rate of 7.5%.
Lease liabilities
At 31 January 2026, the company had lease liabilities of £43,759, of which £14,432 is due within one year and £29,327 is due after more than one year
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The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,971 (2025 - £4,575). Contributions totalling £681 (2025 - £Nil) were payable to the fund at the reporting date and are included in creditors.
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SANDFIELD CAPITAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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Related party transactions
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During the year, the company entered into transactions with two of its subsidiary undertakings, in which it holds 83% and 95% of the ordinary share capital respectively. The transactions principally comprised loans and transfers of funds to the Company.
The following transactions and balances arose during the year:
The Company has an 83% holding in SFC2 Ltd, during the year the company received funds of £1,334,848 and paid amounts of £1,838,314. The amount owed by the company at 31 January 2026 is £13,546,796 (2025: £13,043,330).
The Company has a 95% holding in SFC3 Ltd, during the year the company received funds of £4,303,632 and paid amounts of £4,693,849. The amount owed by the Company at 31 January 2026 is £5,195,051 (2025: £5,585,268).
The amounts due to the subsidiary undertakings at the reporting date are unsecured, interest free and repayable on demand.
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