REGISTERED NUMBER: |
Facit Data Systems Ltd |
Unaudited Financial Statements for the Year Ended 30 June 2023 |
REGISTERED NUMBER: |
Facit Data Systems Ltd |
Unaudited Financial Statements for the Year Ended 30 June 2023 |
Facit Data Systems Ltd (Registered number: 09090054) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Facit Data Systems Ltd |
Company Information |
for the Year Ended 30 June 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Atlantic House |
8 Bell Lane |
Bellbrook Industrial Estate |
Uckfield |
East Sussex |
TN22 1QL |
Facit Data Systems Ltd (Registered number: 09090054) |
Balance Sheet |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium |
Retained earnings | ( |
) | ( |
) |
The directors acknowledge their 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. |
Facit Data Systems Ltd (Registered number: 09090054) |
Balance Sheet - continued |
30 June 2023 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Facit Data Systems Ltd (Registered number: 09090054) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
Facit Data Systems Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents revenue, net of value added tax, from commercial transactions under which the company supplies customers the goods and services that it is in business to provide. Revenue is recognised when the company obtains, through performance under contract, the right to consideration for those goods and services. |
Income received in advance from customers is deferred to the future period in which those services are supplied under contract. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Fixtures and fittings | - |
Office equipment | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date. |
Facit Data Systems Ltd (Registered number: 09090054) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Research and development |
Development expenditure incurred on an individual project is written off to the profit and loss account in the year in which it is incurred unless its future recoverability can reasonably be assured, in which case it is carried forward as an intangible asset. Any expenditure carried forward is amortised on a straight line basis over five years, in line with expected future sales from the related project. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Pension costs and other post-retirement benefits |
The company contributes to employees' pension schemes. Contributions payable are charged to the income statement in the period to which they relate. |
Going concern |
The directors have assessed whether the going concern basis of preparation continues to be appropriate, based on whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. |
At the time of approving the financial statements the directors believe that all appropriate measures have been or will be taken to ensure that the company will be able to continue its operations for at least the next twelve months and thus conclude that the going concern basis remains appropriate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Facit Data Systems Ltd (Registered number: 09090054) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 July 2022 |
Additions |
At 30 June 2023 |
AMORTISATION |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Office |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2022 |
Additions |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Facit Data Systems Ltd (Registered number: 09090054) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: |
£ | £ |
416,290 | Ordinary | £0.0001 | 42 | 42 |
341,414 | Ordinary A | £0.0001 | 34 | 34 |
118,491 | Ordinary C | £0.0001 | 12 | 12 |
7,473,135,900 | Preference | £0.0000001 | 747 | 747 |
835 | 835 |
Equity shares have various rights and restrictions as specified in the company Articles of Association. This extends to income, proceeds of sale, return of capital, voting and when further shares are issued. |
10. | OTHER FINANCIAL COMMITMENTS |
Total financial commitments in respect of operating leases which are not included in the balance sheet amount to £48,108 (2022 - £58,188). |
Facit Data Systems Ltd (Registered number: 09090054) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year the company made advances and credits to a director totalling £4,863 (2022 - £951) and received repayments totalling £5,698 (2022 - £100). At the balance sheet date the company owed the director £70 (2022 - the director owed the company £765). |
This loan is unsecured, interest free and repayable on demand. |