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REGISTERED NUMBER: 11399271 (England and Wales)




















Financial Statements

for the Year Ended 30 June 2023

for

RAFFLI PROPERTIES LTD

RAFFLI PROPERTIES LTD (REGISTERED NUMBER: 11399271)






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


RAFFLI PROPERTIES LTD

Company Information
for the Year Ended 30 June 2023







DIRECTOR: M Raffli





REGISTERED OFFICE: 143 Station Road
Hampton
Middlesex
TW12 2AL





REGISTERED NUMBER: 11399271 (England and Wales)





ACCOUNTANTS: Alvis & Company (Accountants) Limited
143 Station Road
Hampton
Middlesex
TW12 2AL

RAFFLI PROPERTIES LTD (REGISTERED NUMBER: 11399271)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 3,516
Tangible assets 5 1,919 3,668
Investment property 6 696,069 696,069
697,988 703,253

CURRENT ASSETS
Debtors 7 14,210 2,926
Cash at bank 874 449
15,084 3,375
CREDITORS
Amounts falling due within one year 8 (445,477 ) (728,784 )
NET CURRENT LIABILITIES (430,393 ) (725,409 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

267,595

(22,156

)

CREDITORS
Amounts falling due after more than one
year

9

(486,001

)

(167,503

)
NET LIABILITIES (218,406 ) (189,659 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 (218,506 ) (189,759 )
SHAREHOLDERS' FUNDS (218,406 ) (189,659 )

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 director acknowledges his 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.

RAFFLI PROPERTIES LTD (REGISTERED NUMBER: 11399271)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 January 2024 and were signed by:





M Raffli - Director


RAFFLI PROPERTIES LTD (REGISTERED NUMBER: 11399271)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Raffli Properties 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Business knowhow 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 - Straight line over 3 years
Computer equipment - Straight line over 3 years

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

RAFFLI PROPERTIES LTD (REGISTERED NUMBER: 11399271)

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
and 30 June 2023 17,579
AMORTISATION
At 1 July 2022 14,063
Charge for year 3,516
At 30 June 2023 17,579
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 3,516

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2022 5,987 1,840 7,827
Additions - 391 391
At 30 June 2023 5,987 2,231 8,218
DEPRECIATION
At 1 July 2022 2,586 1,573 4,159
Charge for year 1,876 264 2,140
At 30 June 2023 4,462 1,837 6,299
NET BOOK VALUE
At 30 June 2023 1,525 394 1,919
At 30 June 2022 3,401 267 3,668

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 696,069
NET BOOK VALUE
At 30 June 2023 696,069
At 30 June 2022 696,069

RAFFLI PROPERTIES LTD (REGISTERED NUMBER: 11399271)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. INVESTMENT PROPERTY - continued

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2022 (23,591 )
Valuation in 2020 (13,364 )
Cost 733,024
696,069

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 365 365
Other debtors 13,845 2,561
14,210 2,926

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 989 926
Trade creditors 1,069 2,403
Other creditors 443,419 725,455
445,477 728,784

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 486,001 167,503

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 481,320 163,122

RAFFLI PROPERTIES LTD (REGISTERED NUMBER: 11399271)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Together Commercial Finance 363,235 45,164
Hampshire Trust Bank 123,755 123,265
486,990 168,429

The mortgage provided by Together Commercial Finance Limited is secured against the freehold interest in the properties known as Gallogate and Ann Street by way of a fixed and floating charge and a negative pledge.
The mortgage provided by Hampshire Trust Bank is secured against the freehold interest in the property known as 23 Cedar Road by way of a fixed and floating charge and a negative pledge.
The mortgage provided by Together Commercial Finance Limited is secured against the freehold interest in the properties known as 94 Edge Lane Raod, 25 Chatsworth Road and 84 Parkfield Grove by way of a fixed and floating charge and a negative pledge.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Retained
earnings
£   

At 1 July 2022 (189,759 )
Deficit for the year (28,747 )
At 30 June 2023 (218,506 )

Reserves include £15,889 which is not distributable. This relates to the unrealised revaluation of an investment property and the deferred tax effects

13. GOING CONCERN

The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.