Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01falseConveyancing5345true 09956080 2023-01-01 2023-12-31 09956080 2022-01-01 2022-12-31 09956080 2023-12-31 09956080 2022-12-31 09956080 2022-01-01 09956080 c:Director2 2023-01-01 2023-12-31 09956080 d:OfficeEquipment 2023-01-01 2023-12-31 09956080 d:OfficeEquipment 2023-12-31 09956080 d:OfficeEquipment 2022-12-31 09956080 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09956080 d:ComputerSoftware 2023-12-31 09956080 d:ComputerSoftware 2022-12-31 09956080 d:CurrentFinancialInstruments 2023-12-31 09956080 d:CurrentFinancialInstruments 2022-12-31 09956080 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09956080 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09956080 d:ShareCapital 2023-01-01 2023-12-31 09956080 d:ShareCapital 2023-12-31 09956080 d:ShareCapital 2022-01-01 2022-12-31 09956080 d:ShareCapital 2022-12-31 09956080 d:ShareCapital 2022-01-01 09956080 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 09956080 d:RetainedEarningsAccumulatedLosses 2023-12-31 09956080 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 09956080 d:RetainedEarningsAccumulatedLosses 2022-12-31 09956080 d:RetainedEarningsAccumulatedLosses 2022-01-01 09956080 c:OrdinaryShareClass1 2023-01-01 2023-12-31 09956080 c:OrdinaryShareClass1 2023-12-31 09956080 c:OrdinaryShareClass1 2022-12-31 09956080 c:FRS102 2023-01-01 2023-12-31 09956080 c:Audited 2023-01-01 2023-12-31 09956080 c:FullAccounts 2023-01-01 2023-12-31 09956080 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09956080 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:WithinOneYear 2023-12-31 09956080 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:WithinOneYear 2022-12-31 09956080 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09956080 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 09956080 2 2023-01-01 2023-12-31 09956080 d:ComputerSoftware d:OwnedIntangibleAssets 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09956080










SORT LEGAL LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
SORT LEGAL LIMITED
REGISTERED NUMBER: 09956080

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
15,711
23,467

Tangible assets
 5 
21,049
31,745

  
36,760
55,212

Current assets
  

Debtors: amounts falling due within one year
 6 
427,459
345,788

Cash at bank and in hand
 7 
3,272
16,302

  
430,731
362,090

Creditors: amounts falling due within one year
 8 
(2,927,263)
(3,563,050)

Net current liabilities
  
 
 
(2,496,532)
 
 
(3,200,960)

Total assets less current liabilities
  
(2,459,772)
(3,145,748)

Net liabilities
  
(2,459,772)
(3,145,748)


Capital and reserves
  

Called up share capital 
 9 
400
400

Profit and loss account
 10 
(2,460,172)
(3,146,148)

  
(2,459,772)
(3,145,748)


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 10 September 2024.




K Ahmed
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 1

 
SORT LEGAL LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
400
(2,597,784)
(2,597,384)


Comprehensive income for the year

Loss for the year
-
(548,364)
(548,364)
Total comprehensive income for the year
-
(548,364)
(548,364)



At 1 January 2023
400
(3,146,148)
(3,145,748)


Comprehensive income for the year

Profit for the year
-
685,976
685,976
Total comprehensive income for the year
-
685,976
685,976


At 31 December 2023
400
(2,460,172)
(2,459,772)


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
SORT LEGAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The Company is a private Company limited by shares and registered in England. The Company's registration number is 09956080. The Company's registered office is Burdsall House, Derby Conference Centre, Derby, Derbyshire, DE24 8UX. The Company's principal activity is legal conveyancing services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company's functional and presentational currency is GBP.
The Company has prepared it's financial statements to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

After reviewing the Company's budgets, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Sort Limited and Sort Group Limited have provided a letter of support confirming that they will provide adequate resources to the Company until such time as the Company can meet all it's liabilities as they fall due and therefore the directors consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
SORT LEGAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Software is amortised on a 33% straight line basis.

 
2.8

Tangible fixed assets

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:

Office equipment
-
33.3% Straight line

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.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Page 4

 
SORT LEGAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Creditors

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.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.


3.


Employees

The average monthly number of employees, including directors, during the year was 53 (2022 - 45).

Page 5

 
SORT LEGAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Computer software

£



Cost


At 1 January 2023
27,950


Additions
1,600



At 31 December 2023

29,550



Amortisation


At 1 January 2023
4,483


Charge for the year on owned assets
9,356



At 31 December 2023

13,839



Net book value



At 31 December 2023
15,711



At 31 December 2022
23,467



Page 6

 
SORT LEGAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Office equipment

£



Cost


At 1 January 2023
69,248


Additions
12,354



At 31 December 2023

81,602



Depreciation


At 1 January 2023
37,503


Charge for the year on owned assets
23,050



At 31 December 2023

60,553



Net book value



At 31 December 2023
21,049



At 31 December 2022
31,745


6.


Debtors

2023
2022
£
£

Trade debtors
11,451
22,517

Prepayments and accrued income
104,227
90,952

Amounts recoverable on contracts
311,781
232,319

427,459
345,788


Trade debtors are stated after bad debt provisions of £765 (2022: £1,181).


7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
3,272
16,302


Page 7

 
SORT LEGAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
38,320
45,153

Amounts owed to group undertakings
2,576,773
3,294,843

Other taxation and social security
82,401
48,090

Other creditors
7,501
5,577

Accruals and deferred income
222,268
169,387

2,927,263
3,563,050


Amounts owed to group undertakings are unsecured, interest free and repayable on demand. During the year, £1,000,000 of amounts owed to group undertakings were waived.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



400 (2022 - 400) Ordinary A shares of £1.00 each
400
400



10.


Reserves

Profit and loss account

Represents cumulative retained profits and losses.


11.


Pension commitments

The Company operates a defined contributions 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 £28,738 (2021 - £27,018). Contributions totalling £5,577 (2021 - £4,913) were payable to the fund at the balance sheet date and are included in creditors.


12.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022

£
£


Not later than 1 year
4,481
4,407

Page 8

 
SORT LEGAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Controlling party

The immediate parent Company is Sort Group Limited by virtue of it's 100% holding of the share capital of Sort Legal Limited. The ultimate controlling party is Kevin Tunnicliffe by virtue of his majority shareholding in Sort Group Limited.


14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 12 September 2024 by James Delve (Senior statutory auditor) on behalf of PKF Smith Cooper Audit Limited.


Page 9