REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
RaphBros Limited |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
RaphBros Limited (Registered number: 03385895) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
RaphBros Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Fixtures and fittings | - |
Computer equipment | - |
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 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST OR VALUATION |
At 1 January 2023 |
Additions | 775,286 |
Disposals | (890,210 | ) |
Revaluations | (144,429 | ) |
At 31 December 2023 |
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 |
Impairments | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
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 |
Revaluation of fixed asset investments | (144,429 | ) |
At 31 December 2023 |
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 Party | Interest charged | Outstanding creditor balance |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Derek Raphael (Holdings) Limited | 356,572 | 215,094 | 5,545,505 | 5,898,701 |
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. |