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REGISTERED NUMBER: 09090054 (England and Wales)















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: Mr W Hassan
Mr A J Tilly
Mr D W Tilly
Mr A P Crean





REGISTERED OFFICE: 8 Rankin House
Murdoch Court
Knowlhill
Milton Keynes
Buckinghamshire
MK5 8GB





REGISTERED NUMBER: 09090054 (England and Wales)





ACCOUNTANTS: Swindells LLP
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 4 414,905 352,289
Tangible assets 5 10,488 15,018
425,393 367,307

CURRENT ASSETS
Debtors 6 295,396 121,189
Cash at bank 140,655 392,831
436,051 514,020
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

387,389

304,289
NET CURRENT ASSETS 48,662 209,731
TOTAL ASSETS LESS CURRENT
LIABILITIES

474,055

577,038

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

8

267,184

-
NET ASSETS 206,871 577,038

CAPITAL AND RESERVES
Called up share capital 9 835 835
Share premium 1,587,746 1,587,746
Retained earnings (1,381,710 ) (1,011,543 )
206,871 577,038

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

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


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by:





Mr W Hassan - Director


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 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.

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.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Office equipment - 33% on cost

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 10 (2022 - 7 ) .

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 1,291,944
Additions 236,623
At 30 June 2023 1,528,567
AMORTISATION
At 1 July 2022 939,655
Charge for year 174,007
At 30 June 2023 1,113,662
NET BOOK VALUE
At 30 June 2023 414,905
At 30 June 2022 352,289

5. TANGIBLE FIXED ASSETS
Fixtures
and Office
fittings equipment Totals
£    £    £   
COST
At 1 July 2022 8,378 40,748 49,126
Additions - 7,690 7,690
At 30 June 2023 8,378 48,438 56,816
DEPRECIATION
At 1 July 2022 8,378 25,730 34,108
Charge for year - 12,220 12,220
At 30 June 2023 8,378 37,950 46,328
NET BOOK VALUE
At 30 June 2023 - 10,488 10,488
At 30 June 2022 - 15,018 15,018

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 199,901 37,079
Other debtors 95,495 84,110
295,396 121,189

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 59,423 18,587
Taxation and social security 25,752 246
Other creditors 302,214 285,456
387,389 304,289

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 267,184 -

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.