Manolete Partners plc
Manolete Partners PLC is the UK's leading insolvency claims financing company. It purchases, manages and monetises insolvency claims (purchased cases) and also funds claims on behalf of insolvent estates (funded cases), typically against former directors or third parties for breach of duty, fraud, professional negligence or Quincecare-duty claims, generating returns for the Company while increasing recoveries for creditors. It is AIM-listed, UK-domiciled, and finances its case portfolio through equity and an HSBC revolving credit facility.
FY2026 in sixty seconds
year to 31 Mar 2026 · approved 24 Jun 2026 · 60 pages · Companies House
Manolete Partners PLC buys and funds legal claims that arise when UK companies go bust, often claims against former directors. In the year to 31 March 2026 its revenue fell to £27.9m from £29.8m. Profit before tax was £1.6m, the same as the year before.
The company kept a larger share of each pound of revenue. This was helped by settling a claim over price-fixing by truck makers and by finishing more high-value cases. Lower interest on its bank loan also helped. Against this, it set aside £1.8m to cover money owed by two large debtors that have not yet paid. It also spent £966k, mainly on replacing its chief executive and finance director.
Cash at the year end was £1.2m, up from £692k, but bank borrowings rose to £12.7m. No new money was raised from shareholders and no dividend was declared. Management said new cases in the first two months of the new year were well ahead of last year, and it expects revenue and profit to rise. The auditor gave a clean opinion but noted that the company had limited room to spare on one of its bank's lending conditions.
Number and value of new case referrals from Insolvency Practitioners and law firms
Referrals up 15% to 1,027 (FY25: 896); value of signed cases up 23% to £32m (FY25: £26m)
page 7Cartel settlement (DAF) and higher-value/higher-margin case completions in H2
Gross margin improved to 37% (FY25: 32%)
page 4A key development during the year has been the launch of our medium-term targets, including growing realised revenues by 50% and improving profit before tax margins to 12%.
page 6No dividend recommended for FY26 (FY25: nil). The Board's priority is to retain cash reserves for investment in current and future cases and to reduce net debt; shareholder returns (dividends, buybacks or a combination) are expected to become a recurring element of the capital allocation framework over the medium term as leverage declines.
page 1411 years on one page · FY2016–FY2026
| Line | FY2016locked | FY2017locked | FY2018locked | FY2019locked | FY2020locked | FY2021locked | FY2022locked | FY2023locked | FY202403/24 | FY202503/25 | FY202603/26 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||
| Operating profit | |||||||||||
| Profit for the year | |||||||||||
| Basic EPS | |||||||||||
| Dividend per share | — | — | |||||||||
| Free cash flow | |||||||||||
| Net debt (negative = net cash) | |||||||||||
| Shares in issue | |||||||||||
| Operating margin | |||||||||||
| Return on capital employed |
GBP millions, negatives in brackets. Per-share lines in pence. Share counts in millions. Margins and returns as percentages, calculated from the filed figures. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated.
30 figures restated in a later report
Every figure is read again from the following year’s report: 246 confirmed, 18 differ, 30 restated.
| Line | Year | As first filed | In the later report |
|---|---|---|---|
| FY2025 | £10.4mFY2025 report | £10.6mFY2026 report | |
| FY2025 | £893kFY2025 report | £1.1mFY2026 report | |
| FY2025 | £3.0mFY2025 report | £3.2mFY2026 report | |
| FY2025 | £1.3mFY2025 report | £1.6mFY2026 report | |
| FY2025 | £30.5mFY2025 report | £29.8mFY2026 report | |
| FY2025 | £74.0mFY2025 report | £73.3mFY2026 report | |
| FY2025 | £41.4mFY2025 report | £41.1mFY2026 report | |
| FY2025 | £32.5mFY2025 report | £32.2mFY2026 report | |
| FY2025 | £531kFY2025 report | £322kFY2026 report |
21 more figures were restated in FY2016 to FY2023, which a free account opens.