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Exact Financial Systems Limited
Registered Number:03006728
For the year ended 31 December 2021
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2021
Exact Financial Systems Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
03006728
As at 31 December 2021
Exact Financial Systems Limited
Statement of Financial Position
£
£
2020
2021
Notes
Fixed assets
Property, plant and equipment
54,905
67,140
2
Financial assets
380,412
382,841
3
437,746
447,552
Current assets
Trade and other receivables
216,185
253,991
4
1,228,756
Cash and cash equivalents
1,235,808
1,489,799
1,444,941
Trade and other payables: amounts falling due within one
year
(173,553)
(155,347)
5
1,271,388
1,334,452
Net current assets
Total assets less current liabilities
1,772,198
1,718,940
8,821
7,189
Provisions for liabilities
1,781,019
Net assets
1,726,129
Capital and reserves
Called up share capital
3
3
Retained earnings
1,781,013
1,726,123
Other reserves
3
3
1,781,019
1,726,129
Shareholders' funds
For the year ended 31 December 2021 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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 proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Gary Butcher Director
These financial statements were approved and authorised for issue by the Board on 07 September 2022 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 December 2021
Exact Financial Systems Limited
Notes to the Financial Statements
Statutory Information
Exact Financial Systems Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 03006728.
Principal place of business:
Clyde House
78 Maison Dieu road
Dover
Kent
CT16 1RE
Registered address:
Suites 5 & 7, 3rd Floor
Roxby House, 20-22 Station Road
Sidcup
Kent
DA15 7EJ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Research and development
Research and development expenditure is charged to the profit and loss account in the period in which it is incurred.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
25% Reducing balance
Equipment
25% Reducing balance
Motor vehicles
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.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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5
For the year ended 31 December 2021
Exact Financial Systems Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Equipment
Motor vehicles
£
£
£
Cost or
valuation
At 01 January 2021
287,278
230,278
57,000
6,066
6,066
-
Additions
At 31 December 2021
57,000
236,344
293,344
Provision for depreciation and impairment
At 01 January 2021
220,138
187,184
32,954
Charge for year
18,301
12,289
6,012
At 31 December 2021
238,439
199,473
38,966
At 31 December 2021
Net book value
18,034
36,871
54,905
At 31 December 2020
24,046
43,094
67,140
3. Investments held as fixed assets
Other investments
Loans to group
and
participating
interests
Total
At 01 January 2021
382,841
60,435
322,406
Cost
£
£
£
At 31 December 2021
322,406
60,435
382,841
At 31 December 2021
Net book value
322,406
60,435
382,841
At 01 January 2021
382,841
322,406
60,435
4. Trade and other receivables
2020
2021
£
£
Trade debtors
170,530
116,313
Other debtors
83,461
99,872
216,185
253,991
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6
For the year ended 31 December 2021
Exact Financial Systems Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2020
2021
£
£
Amounts owed to group undertaking and undertaking in which the
company has a participating interest
-
8,893
Taxation and social security
123,098
139,366
Other creditors
32,249
25,294
155,347
173,553
6. Average number of persons employed
During the year the average number of employees was 17 (2020 : 17)
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