Silverfin false 28/02/2023 01/03/2022 28/02/2023 Neil Lawrence Sexton 10/02/2016 13 October 2023 The principal activity of the Company during the financial year was that of cost lawyers. 09997481 2023-02-28 09997481 bus:Director1 2023-02-28 09997481 2022-02-28 09997481 core:CurrentFinancialInstruments 2023-02-28 09997481 core:CurrentFinancialInstruments 2022-02-28 09997481 core:ShareCapital 2023-02-28 09997481 core:ShareCapital 2022-02-28 09997481 core:RetainedEarningsAccumulatedLosses 2023-02-28 09997481 core:RetainedEarningsAccumulatedLosses 2022-02-28 09997481 core:OfficeEquipment 2022-02-28 09997481 core:ComputerEquipment 2022-02-28 09997481 core:OfficeEquipment 2023-02-28 09997481 core:ComputerEquipment 2023-02-28 09997481 2022-03-01 2023-02-28 09997481 bus:FullAccounts 2022-03-01 2023-02-28 09997481 bus:SmallEntities 2022-03-01 2023-02-28 09997481 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 09997481 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 09997481 bus:Director1 2022-03-01 2023-02-28 09997481 core:OfficeEquipment 2022-03-01 2023-02-28 09997481 core:ComputerEquipment core:TopRangeValue 2022-03-01 2023-02-28 09997481 2021-03-01 2022-02-28 09997481 core:ComputerEquipment 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Company No: 09997481 (England and Wales)

SEXTONS LEGAL COSTS LIMITED

Unaudited Financial Statements
For the financial year ended 28 February 2023
Pages for filing with the registrar

SEXTONS LEGAL COSTS LIMITED

Unaudited Financial Statements

For the financial year ended 28 February 2023

Contents

SEXTONS LEGAL COSTS LIMITED

BALANCE SHEET

As at 28 February 2023
SEXTONS LEGAL COSTS LIMITED

BALANCE SHEET (continued)

As at 28 February 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 3,162 3,984
3,162 3,984
Current assets
Debtors 4 66,051 89,284
Cash at bank and in hand 379 13,824
66,430 103,108
Creditors: amounts falling due within one year 5 ( 40,766) ( 69,416)
Net current assets 25,664 33,692
Total assets less current liabilities 28,826 37,676
Net assets 28,826 37,676
Capital and reserves
Called-up share capital 10 10
Profit and loss account 28,816 37,666
Total shareholder's funds 28,826 37,676

For the financial year ending 28 February 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Sextons Legal Costs Limited (registered number: 09997481) were approved and authorised for issue by the Director on 13 October 2023. They were signed on its behalf by:

Neil Lawrence Sexton
Director
SEXTONS LEGAL COSTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
SEXTONS LEGAL COSTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sextons Legal Costs Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, United Kingdom, BH15 2PW. The principal place of business is Unit A5, Arena Business Centre, 9 Nimrod Way, Ferndown, Dorset, BH21 7UH.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Office equipment 25 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 3 3

3. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 March 2022 3,529 5,607 9,136
Additions 0 579 579
At 28 February 2023 3,529 6,186 9,715
Accumulated depreciation
At 01 March 2022 1,442 3,710 5,152
Charge for the financial year 522 879 1,401
At 28 February 2023 1,964 4,589 6,553
Net book value
At 28 February 2023 1,565 1,597 3,162
At 28 February 2022 2,087 1,897 3,984

4. Debtors

2023 2022
£ £
Trade debtors 51,627 89,284
Other debtors 14,424 0
66,051 89,284

5. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 32,859 48,184
Other creditors 7,907 21,232
40,766 69,416