Exact Financial Systems Limited
|
Registered Number
:
03006728
|
For the year ended 31 December 2020
England and Wales
Unaudited Financial Statements
For the year ended 31 December 2020
Exact Financial Systems Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
Exact Financial Systems Limited
Statement of Financial Position
2019
2020
Property
,
plant and equipment
|
67,140
80,496
2
380,412
380,412
3
447,552
460,908
Trade and other receivables
|
250,169
216,185
4
1,053,493
Cash and cash equivalents
|
1,228,756
1,444,941
1,303,662
Trade and other payables
:
amounts falling due within one
|
year
|
(200,246)
(173,553)
5
1,103,416
1,271,388
Net current assets
Total assets less current liabilities
|
1,718,940
1,564,324
7,189
5,108
Provisions for liabilities
|
1,726,129
Net assets
1,569,432
3
3
1,726,123
1,569,426
3
3
1,726,129
1,569,432
Shareholders' funds
For the year ended 31 December 2020 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 2020 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.
|
These financial statements were approved and authorised for issue by the Board on 20 September 2021 and were signed by:
|
The notes form part of these financial statements
|
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For the year ended 31 December 2020
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
Suites 5 & 7, 3rd Floor
Roxby House, 20-22 Station Road
Sidcup
Kent
DA15 7EJ
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A 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:
|
Equipment
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.
2 of 4
For the year ended 31 December 2020
Exact Financial Systems Limited
Notes to the Financial Statements Continued
2
.
Property
,
plant and equipment
|
Equipment
Motor vehicles
278,253
221,253
57,000
9,025
9,025
-
57,000
230,278
287,278
Provision for depreciation and impairment
|
197,757
172,819
24,938
Charge for year
22,381
14,365
8,016
220,138
187,184
32,954
24,046
43,094
67,140
32,062
48,434
80,496
3
.
Investments held as fixed assets
|
Loans to group
|
and
|
participating
|
interests
|
380,412
58,006
322,406
322,406
58,006
380,412
322,406
58,006
380,412
380,412
322,406
58,006
4
.
Trade and other receivables
|
2019
2020
116,313
192,443
99,872
57,726
250,169
216,185
3 of 4
For the year ended 31 December 2020
Exact Financial Systems Limited
Notes to the Financial Statements Continued
5
.
Trade and other payables
:
amounts falling due within one year
|
2019
2020
Amounts owed to group undertaking and undertaking in which the
|
company has a participating interest
|
8,893
26,288
Taxation and social security
|
139,366
133,577
25,294
40,381
173,553
200,246
6
.
Average number of persons employed
|
During the year the average number of employees was 17 (2019 : 17)
4 of 4