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Registered number: 09956080 SORT LEGAL LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
SORT LEGAL LIMITED REGISTERED NUMBER: 09956080 BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 7,822 |  | 15,711
Tangible assets | 5 |  | 33,585 |  | 21,049
|  |  | 41,407 |  | 36,760
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 602,591 |  | 427,459 |
Cash at bank and in hand | 7 | 6,003 |  | 3,272 |
|  | 608,594 |  | 430,731 |
Creditors: amounts falling due within one year | 8 | (2,321,258) |  | (2,927,263) |
Net current liabilities |  |  | (1,712,664) |  | (2,496,532)
Total assets less current liabilities |  |  | (1,671,257) |  | (2,459,772)
Net liabilities |  |  | (1,671,257) |  | (2,459,772)
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 400 |  | 400
Profit and loss account | 10 |  | (1,671,657) |  | (2,460,172)
|  |  | (1,671,257) |  | (2,459,772)
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 14 September 2025.
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 2024
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
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 1 January 2024 | 400 | (2,460,172) | (2,459,772)
Comprehensive income for the year |  |  |
Profit for the year | - | 788,515 | 788,515
Total comprehensive income for the year | - | 788,515 | 788,515
At 31 December 2024 | 400 | (1,671,657) | (1,671,257)
| 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 2024
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 2024 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 2024 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 60 (2023 - 53).
Page 5
SORT LEGAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Intangible assets
|  | Computer software
|  | £
| Cost |
| At 1 January 2024 | 29,550
| Additions | 2,030
| At 31 December 2024 | 31,580
| Amortisation |
| At 1 January 2024 | 13,839
| Charge for the year on owned assets | 9,919
| At 31 December 2024 | 23,758
| Net book value |
| At 31 December 2024 | 7,822
| At 31 December 2023 | 15,711
Page 6
SORT LEGAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Tangible fixed assets
|  | Office equipment
|  | £
| Cost |
| At 1 January 2024 | 81,602
| Additions | 30,820
| At 31 December 2024 | 112,422
| Depreciation |
| At 1 January 2024 | 60,553
| Charge for the year on owned assets | 18,284
| At 31 December 2024 | 78,837
| Net book value |
| At 31 December 2024 | 33,585
| At 31 December 2023 | 21,049
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 8,863 | 11,451
| Other debtors | 10,065 | -
| Prepayments and accrued income | 133,665 | 104,227
| Amounts recoverable on contracts | 449,998 | 311,781
|  | 602,591 | 427,459
| Trade debtors are stated after bad debt provisions of £329 (2023: £765).
7. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 6,003 | 3,272
Page 7
SORT LEGAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 40,564 | 38,320
| Amounts owed to group undertakings | 1,826,489 | 2,576,773
| Other taxation and social security | 171,078 | 82,401
| Other creditors | 9,100 | 7,501
| Accruals and deferred income | 274,027 | 222,268
|  | 2,321,258 | 2,927,263
| Amounts owed to group undertakings are unsecured, interest free and repayable on demand. During the year, £1,000,000 (2023: £1,000,000) of amounts owed to group undertakings were waived.
9. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 400 (2023 - 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 £47,103 (2023 - £39,386). Contributions totalling £9,100 (2023 - £7,501) were payable to the fund at the balance sheet date and are included in creditors.
12. | Commitments under operating leases
| At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Not later than 1 year | 4,634 | 4,481
Page 8
SORT LEGAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
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 2024 was unqualified. The audit report was signed on 16 September 2025 by James Delve (Senior statutory auditor) on behalf of PKF Smith Cooper Audit Limited.
Page 9