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REGISTERED NUMBER: 10006901 (England and Wales)















Facet Technical & Resource Solutions
Limited

Unaudited Financial Statements for the Year Ended 31 December 2021






Facet Technical & Resource Solutions
Limited (Registered number: 10006901)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Facet Technical & Resource Solutions
Limited

Company Information
for the Year Ended 31 December 2021







DIRECTOR: R A G Stanley





REGISTERED OFFICE: 27 Gladwyn Close
Gillingham
Kent
ME8 9TQ





REGISTERED NUMBER: 10006901 (England and Wales)





ACCOUNTANTS: Aggarwal & Co Limited
Chartered Accountants
5 London Road
Rainham
Gillingham
Kent
ME8 7RG

Facet Technical & Resource Solutions
Limited (Registered number: 10006901)

Statement of Financial Position
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,447 11,791

CURRENT ASSETS
Debtors 5 95,032 61,486
Cash at bank and in hand 27,656 65,347
122,688 126,833
CREDITORS
Amounts falling due within one year 6 62,080 65,002
NET CURRENT ASSETS 60,608 61,831
TOTAL ASSETS LESS CURRENT LIABILITIES 75,055 73,622

CREDITORS
Amounts falling due after more than one
year

7

(34,167

)

(44,167

)

PROVISIONS FOR LIABILITIES (1,989 ) (2,240 )
NET ASSETS 38,899 27,215

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 38,799 27,115
SHAREHOLDERS' FUNDS 38,899 27,215

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Facet Technical & Resource Solutions
Limited (Registered number: 10006901)

Statement of Financial Position - continued
31 December 2021


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 May 2022 and were signed by:





R A G Stanley - Director


Facet Technical & Resource Solutions
Limited (Registered number: 10006901)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Facet Technical & Resource Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Income recognition
Income represents the fair value of consideration received or receivable derived from the provision of goods and services to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

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

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable which are measured at fair value, with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Facet Technical & Resource Solutions
Limited (Registered number: 10006901)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

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.

Going concern
The financial statements have been prepared on a going concern basis. While the impact of the COVID-19 virus has been assessed by the directors so far as reasonably possible, due to its unprecedented impact on the wider economy, it is difficult to evaluate with any certainty the potential outcomes on the company's trade, its customers and suppliers. However, taking into consideration the UK Government's response and financial support and the company's planning, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

Government grants
Government grants in relation to COVID-19 are recognised on the accruals basis and credited to the Income Statement and any related expenditure is charged to the Income Statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2021 15,820
Additions 6,892
At 31 December 2021 22,712
DEPRECIATION
At 1 January 2021 4,029
Charge for year 4,236
At 31 December 2021 8,265
NET BOOK VALUE
At 31 December 2021 14,447
At 31 December 2020 11,791

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 53,338 61,486
Other debtors 41,694 -
95,032 61,486

Facet Technical & Resource Solutions
Limited (Registered number: 10006901)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 10,000 5,833
Trade creditors 9,774 10,524
Taxation and social security 6,248 14,032
Other creditors 36,058 34,613
62,080 65,002

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans 34,167 44,167

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 4,167