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REGISTERED NUMBER: 06138776 (England and Wales)















LEGALS DIRECT LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023






LEGALS DIRECT LIMITED (REGISTERED NUMBER: 06138776)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LEGALS DIRECT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: G J Harvey
P M Harvey





REGISTERED OFFICE: Ty Antur
Navigation Park
Abercynon
CF45 4SN





REGISTERED NUMBER: 06138776 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

LEGALS DIRECT LIMITED (REGISTERED NUMBER: 06138776)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,083 3,783

CURRENT ASSETS
Debtors 5 295,169 269,602
Cash at bank 154,547 274,248
449,716 543,850
CREDITORS
Amounts falling due within one year 6 237,804 256,189
NET CURRENT ASSETS 211,912 287,661
TOTAL ASSETS LESS CURRENT
LIABILITIES

213,995

291,444

CREDITORS
Amounts falling due after more than one
year

7

(110,400

)

(199,382

)

PROVISIONS FOR LIABILITIES (396 ) (719 )
NET ASSETS 103,199 91,343

LEGALS DIRECT LIMITED (REGISTERED NUMBER: 06138776)

BALANCE SHEET - continued
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 103,099 91,243
SHAREHOLDERS' FUNDS 103,199 91,343

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd November 2023 and were signed on its behalf by:





G J Harvey - Director


LEGALS DIRECT LIMITED (REGISTERED NUMBER: 06138776)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

Legals Direct Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

LEGALS DIRECT LIMITED (REGISTERED NUMBER: 06138776)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1st April 2022
and 31st March 2023 1,550 6,113 7,663
DEPRECIATION
At 1st April 2022 688 3,192 3,880
Charge for year 172 1,528 1,700
At 31st March 2023 860 4,720 5,580
NET BOOK VALUE
At 31st March 2023 690 1,393 2,083
At 31st March 2022 862 2,921 3,783

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 17,446 27,476
Other debtors 273,350 241,448
Directors' current accounts 3,682 -
Prepayments 691 678
295,169 269,602

LEGALS DIRECT LIMITED (REGISTERED NUMBER: 06138776)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 88,982 117,773
Trade creditors 9,912 8,326
Corporation Tax 95,263 93,988
VAT 38,495 31,427
Directors' current accounts - 1,038
Accruals and deferred income 5,152 3,637
237,804 256,189

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Other loans - 1-2 years 110,400 199,382

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
99 Ordinary £1 99 99
1 Ordinary A £1 1 1
100 100

9. RELATED PARTY DISCLOSURES

At 31 March 2023, the company was owed £3,682 from the directors G J & P M Harvey (2022 - the company owed the directors £1,038).

At the year end the company was owed the following:
- £Nil by Legals Direct Holdings Limited (2022 - £Nil)
- £268,350 by Harvey Baker Limited (2022 - £241,448)
- £5,000 by Property Marvel Limited (2022 - £Nil)