SOUTHFIELDS SOLICITORS LTD

Company Registration Number:
07500028 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2025

Period of accounts

Start date: 01 April 2024

End date: 31 March 2025

SOUTHFIELDS SOLICITORS LTD

Contents of the Financial Statements

for the Period Ended 31 March 2025

Balance sheet
Notes

SOUTHFIELDS SOLICITORS LTD

Balance sheet

As at 31 March 2025


Notes
2025
2024


£
£
Called up share capital not paid: 4 4
Current assets
Debtors:   248,000 380,288
Total current assets: 248,000 380,288
Creditors: amounts falling due within one year:   0 0
Net current assets (liabilities): 248,000 380,288
Total assets less current liabilities: 248,004 380,292
Creditors: amounts falling due after more than one year:   (610,471) (693,922)
Total net assets (liabilities): (362,467) (313,630)
Capital and reserves
Called up share capital: 4 4
Profit and loss account: (362,471) (313,634)
Shareholders funds: (362,467) (313,630)

The notes form part of these financial statements

SOUTHFIELDS SOLICITORS LTD

Balance sheet statements

For the year ending 31 March 2025 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

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

This report was approved by the board of directors on 13 December 2025
and signed on behalf of the board by:

Name: Hamid Iqbal
Status: Director

The notes form part of these financial statements

SOUTHFIELDS SOLICITORS LTD

Notes to the Financial Statements

for the Period Ended 31 March 2025

1. Accounting policies

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

Turnover policy

The Company Closed on 12/08/2020 during covide after 23 years. With the approval of SRA the Compnay is obliged to remain active until it can recover all debts owed by it's previous clients who owed the forms costs incurred prior to its closure. The recovery acitions are complex and lengthy in that the costs owed by previous clients need to be assessed by Senior Courts Cost Office High Court befiore any enforcement action is commenced . The company does not take any new cases since 12/08/2020 as such there is no TURNOVER since from new cases . Any costs recovered in each year would be treated as Turnover in the said year when calculating the Tax Payable.

Tangible fixed assets and depreciation policy

The Company's Tangible assets were disposed off in th eyears 2020 - 2022. A Few assets inclduing computers/printers and few desks remain for use by the skeleton staff. Assest depreciation of these minor items are carried forward to a time when sufficient debts are recovered to set off against depreciation in the accounts.

Intangible fixed assets and amortisation policy

N/A

Valuation and information policy

N/A

Other accounting policies

Deferred Tax is appropriate in this case, as the Debt recovery amount is not known at the time . Recovery is being delayed for several reasons: Many Clients died leaving enforcement proceedings against their Estates : there are ( i) issues in respect of come Wills causing delay in obtianing Probates due to challenges by the Beneficiaries in the High Courts which caues delays in High Court listing actions (ii) Recovery in the Insolvency High Courts is expensive , time consuming as Beneficiaries keep objecting to Bankruptcy/ Insolvency Order being made.(iii) Meanwhile the Company is required to obtain further loans to pay Court , Solicitors , Experts and Counsel Fees thereby increasing the original debts (including intereat at 8 %) on the original total debt each year.

SOUTHFIELDS SOLICITORS LTD

Notes to the Financial Statements

for the Period Ended 31 March 2025

2. Employees

2025 2024
Average number of employees during the period 1 1