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REGISTERED NUMBER: 03385895 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

RaphBros Limited

RaphBros Limited (Registered number: 03385895)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


RaphBros Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr P Raphael





SECRETARY: Mr P Raphael





REGISTERED OFFICE: Lower Littleworth House
Lower Littleworth
Amberley
Stroud
Gloucestershire
GL5 5AW





REGISTERED NUMBER: 03385895 (England and Wales)





ACCOUNTANTS: Ward Goodman
Chartered Accountants
4 Cedar Park
Cobham Road
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7SF

RaphBros Limited (Registered number: 03385895)

Abridged Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 111 147
Investments 5 8,150,938 8,410,291
Investment property 6 745,000 880,000
8,896,049 9,290,438

CURRENT ASSETS
Debtors 36,748 57,803
Cash at bank 152,731 387,280
189,479 445,083
CREDITORS
Amounts falling due within one year 5,571,672 5,921,449
NET CURRENT LIABILITIES (5,382,193 ) (5,476,366 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,513,856

3,814,072

CAPITAL AND RESERVES
Called up share capital 70 70
Revaluation reserve 7 1,462,907 1,607,336
Retained earnings 2,050,879 2,206,666
SHAREHOLDERS' FUNDS 3,513,856 3,814,072

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

RaphBros Limited (Registered number: 03385895)

Abridged Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 17 September 2024 and were signed by:





Mr P Raphael - Director


RaphBros Limited (Registered number: 03385895)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

RaphBros Limited 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.

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 reducing balance
Computer equipment - Straight line over 3 years

Investment property
Investment properties are revalued annually to open market value. Surpluses or deficits on individual properties are transferred to investment revaluation reserve, except that a deficit which is expected to be permanent and which is in excess of any previously recognised surplus over cost relating to the same property, or reversal of such a deficit, is charged (or credited) to the profit and loss account. Depreciation is not provided in respect of freehold investment properties, or in respect of leasehold investment properties where the unexpired term of the lease is more than 20 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.

RaphBros Limited (Registered number: 03385895)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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. Where the rate of exchange ruling at the date of the transaction is not known, the average rate of exchange for the year is used. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 6,558
DEPRECIATION
At 1 January 2023 6,411
Charge for year 36
At 31 December 2023 6,447
NET BOOK VALUE
At 31 December 2023 111
At 31 December 2022 147

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 January 2023 8,410,291
Additions 775,286
Disposals (890,210 )
Revaluations (144,429 )
At 31 December 2023 8,150,938
NET BOOK VALUE
At 31 December 2023 8,150,938
At 31 December 2022 8,410,291

RaphBros Limited (Registered number: 03385895)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 December 2023 is represented by:
Totals
£   
Valuation in 2014 273,570
Valuation in 2015 (102,885 )
Valuation in 2016 90,040
Valuation in 2017 (172,402 )
Valuation in 2018 204,253
Valuation in 2019 (224,386 )
Valuation in 2020 (129,951 )
Valuation in 2021 268,712
Valuation in 2022 1,586,226
Valuation in 2023 (144,429 )
Cost 6,502,190
8,150,938

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 6,502,190 6,617,116

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 880,000
Impairments (135,000 )
At 31 December 2023 745,000
NET BOOK VALUE
At 31 December 2023 745,000
At 31 December 2022 880,000

Investment properties are valued at their market value. The valuation was carried out by P Raphael, a director of the company.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2016 (52,065 )
Valuation in 2022 (346,550 )
Valuation in 0 (135,000 )
Cost 1,278,615
745,000

RaphBros Limited (Registered number: 03385895)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. INVESTMENT PROPERTY - continued

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,278,616 1,278,616

7. RESERVES
Revaluation
reserve
£   
At 1 January 2023 1,607,336
Revaluation of fixed asset investments (144,429 )

At 31 December 2023 1,462,907

8. CONTINGENT LIABILITIES

There is a potential liability for further calls on some of the company's investments in offshore Limited Liability Partnerships. The directors' best estimate is that at the year end a contingent liability of £2,160,000 (2022: £1,400,000) may exist.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Held within creditors is an amount of £12,987 (2022: £13,247) due to the Director for expenses due.

10. RELATED PARTY DISCLOSURES

During the year the company entered into the following related party transactions:

Related PartyInterest chargedOutstanding creditor balance
2023202220232022
££££

Derek Raphael (Holdings) Limited356,572215,0945,545,5055,898,701

The creditor balance at the start of the year has decreased during the year by a Sterling equivalent of £209,934. During the year the company received further advances totalling £459,900 which were a combination of both Sterling and US Dollars. During the year repayments of £969,942 were made, and were a combination of both Sterling and US Dollars. The £10,208 balance of the movement during the year relates to foreign exchange rate adjustments arising on the conversion of the US dollar element of the loan.

The director of RaphBros Limited P Raphael is a director of Derek Raphael (Holdings) Limited.

11. ULTIMATE CONTROLLING PARTY

The Ultimate Controlling Party is the director P Raphael by virtue of his majority ownership of the issued share capital of the company.