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REGISTERED NUMBER: 09090054 (England and Wales)















Facit Data Systems Ltd

Unaudited Financial Statements for the Year Ended 30 June 2024






Facit Data Systems Ltd (Registered number: 09090054)






Contents of the Financial Statements
for the Year Ended 30 June 2024




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 2024







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 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 384,008 414,905
Tangible assets 5 3,197 10,488
387,205 425,393

CURRENT ASSETS
Debtors 6 112,939 295,396
Cash at bank 346,236 140,655
459,175 436,051
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

330,421

387,389
NET CURRENT ASSETS 128,754 48,662
TOTAL ASSETS LESS CURRENT
LIABILITIES

515,959

474,055

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

8

300,891

267,184
NET ASSETS 215,068 206,871

CAPITAL AND RESERVES
Called up share capital 9 1,175 835
Share premium 1,937,409 1,587,746
Retained earnings (1,723,516 ) (1,381,710 )
215,068 206,871

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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 2024


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 27 March 2025 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 2024

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 2024

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 7 (2023 - 10 ) .

Facit Data Systems Ltd (Registered number: 09090054)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023 1,528,567
Additions 149,525
At 30 June 2024 1,678,092
AMORTISATION
At 1 July 2023 1,113,662
Charge for year 180,422
At 30 June 2024 1,294,084
NET BOOK VALUE
At 30 June 2024 384,008
At 30 June 2023 414,905

5. TANGIBLE FIXED ASSETS
Fixtures
and Office
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 8,378 48,438 56,816
Additions - 957 957
At 30 June 2024 8,378 49,395 57,773
DEPRECIATION
At 1 July 2023 8,378 37,950 46,328
Charge for year - 8,248 8,248
At 30 June 2024 8,378 46,198 54,576
NET BOOK VALUE
At 30 June 2024 - 3,197 3,197
At 30 June 2023 - 10,488 10,488

Facit Data Systems Ltd (Registered number: 09090054)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 53,796 199,901
Other debtors 59,143 95,495
112,939 295,396

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 52,383 59,423
Taxation and social security 28,431 25,752
Other creditors 249,607 302,214
330,421 387,389

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 300,891 267,184

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value:
£ £
416,290 Ordinary £0.0001 42 42
456,167 Ordinary A £0.0001 46 34
118,491 Ordinary C £0.0001 12 12
23,118 Ordinary D £0.0001 2 -
7,473,135,900 Preference £0.0000001 747 747
3,255,000,000 Preference A £0.0000001 326 -
1,175 835

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.

The company issued 114,753 Ordinary A shares, 23,118 Ordinary D shares and 3,255,000,000 Preference A shares on 31 August 2023 for a total consideration of £350,002.

Facit Data Systems Ltd (Registered number: 09090054)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments in respect of operating leases which are not included in the balance sheet amount to £21,191 (2023 - £48,108).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company made advances and credits to a director totalling £1,065 (2023 - £4,863) and was repaid £1,218 (2023 - £5,698). At the balance sheet date the company owed the director £223 (2023 - £70).

This loan is unsecured, interest free and repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Midlands Engine Investments Limited, a company registered in England & Wales with the registered office address of Steel City House, West Street, Sheffield, S1 2GQ.