SEDGWICK LEGAL SERVICES LIMITED

Company Registration Number:
14316321 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 24 August 2022

End date: 31 December 2023

SEDGWICK LEGAL SERVICES LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Balance sheet
Additional notes
Balance sheet notes

SEDGWICK LEGAL SERVICES LIMITED

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Principal activities of the company

The principal activities of the Company in the year are pre-litigation and litigation services in the insurance industry, arising from claims in motor, property and casualty insurance policies.

Political and charitable donations

The Company made no charitable donations during the period 24 August 2022 to 31 December 2023.

Company policy on disabled employees

Applications for employment by disabled persons are always fully considered, bearing in mind the respective attitudes and abilities of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment with the Company continues and the appropriate training is arranged. It is the policy of the Company that the training, career development and promotion of a disabled person should, as far as possible, be identical to that of a person who does not suffer from a disability.



Directors

The directors shown below have held office during the whole of the period from
24 August 2022 to 31 December 2023

Hinton, John
Gibson, Neil
Squires, Paul


The director shown below has held office during the period of
24 August 2022 to 28 February 2023

RISHI, Sahil Nath


The director shown below has held office during the period of
24 August 2022 to 31 August 2022

PINNEY, Christopher David


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
12 August 2024

And signed on behalf of the board by:
Name: Hinton, John
Status: Director

SEDGWICK LEGAL SERVICES LIMITED

Balance sheet

As at 31 December 2023

Notes 16 months to 31 December 2023


£
Current assets
Debtors: 3 247,093
Total current assets: 247,093
Creditors: amounts falling due within one year: 4 ( 410,447 )
Net current assets (liabilities): (163,354)
Total assets less current liabilities: (163,354)
Total net assets (liabilities): (163,354)
Capital and reserves
Called up share capital: 1
Profit and loss account: (163,355 )
Total Shareholders' funds: ( 163,354 )

The notes form part of these financial statements

SEDGWICK LEGAL SERVICES LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 12 August 2024
and signed on behalf of the board by:

Name: Hinton, John
Status: Director

The notes form part of these financial statements

SEDGWICK LEGAL SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover, which relates to the Company's principal activity is earned wholly within the United Kingdom. The Company recognises turnover by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered. Turnover is measured at the fair value of the consideration received or receivable, net of value added tax. Where the consideration is variable, the amount recognised is highly probable not to suffer a significant reversal in the future. This turnover is recognised in the accounting period when the services are rendered at an amount that reflects the consideration to which the Company expects to be entitled in exchange for fulfilling its performance obligations to customers. Unbilled turnover is included as accrued income within debtors to the extent they are considered recoverable. Where billings exceed turnover recognised, the excess is classified as deferred income within creditors.

    Other accounting policies

    Interest income Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and at the effective interest rate applicable. Taxation Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, based on tax rates and laws that are enacted or substantively enacted by the balance sheet date. Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense. Deferred income tax assets and liabilities are measured on an undiscounted basis at the tax rates that are expected to apply when the related asset is realised or liability is settled, based on tax rates and laws enacted or substantively enacted at the balance sheet date. The carrying amount of deferred income tax assets is reviewed at each balance sheet date. Deferred income tax assets and liabilities are offset, only if a legally enforcement right exists to set off current tax assets against current tax liabilities, the deferred income taxes relate to the same taxation authority and that authority permits the Company to make a single net payment. Financial Instruments Financial assets The Company’s financial assets include cash and cash equivalents and inter-company receivables. All financial assets are recognised in the Company’s statement of financial position when the Company becomes a party to the contractual provision of the instrument. i) Trade Receivables Trade receivables are recognised and carried at original invoice amount less provision for impairment. A provision for impairment of trade receivables is established when there is objective evidence that the entity will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is determined as the difference between the asset’s carrying amount and the present value of estimated future cash flows, and is recognised in the Income Statements in other operating expenses. ii) Cash and cash equivalents Cash and cash equivalents comprise cash in hand and deposits held at call with banks. iii) Inter-company receivables Inter-company receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. These are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method. Financial liabilities and Equity Instruments 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. All financial liabilities are recognised initially at their fair value and subsequently measured at amortised cost using the effective interest method. i)Trade payables Trade payables are non-interest bearing and are stated at amortised cost. ii) Inter-company payables Inter-company payables are non-derivative financial liabilities with fixed or determinable payments that are not quoted in an active market. These are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

SEDGWICK LEGAL SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    16 months to 31 December 2023
    Average number of employees during the period 14

    The Company had 14 employees during the year. There were £459k staff costs for the period ended 31 December 2023. The directors are remunerated by another group company in respect of their services to the group as a whole, and it is not possible to apportion this remuneration to the companies in the group.

SEDGWICK LEGAL SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Debtors

16 months to 31 December 2023
£
Trade debtors 76,154
Prepayments and accrued income 153,388
Other debtors 17,551
Total 247,093

SEDGWICK LEGAL SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Creditors: amounts falling due within one year note

16 months to 31 December 2023
£
Trade creditors 31,277
Taxation and social security 12,692
Other creditors 366,478
Total 410,447