Registered number
03766490
Raftis Consultants Limited
Filleted Accounts
31 March 2024
Raftis Consultants Limited
Registered number: 03766490
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,004,621 1,803,128
Investments 4 199,671 201,610
2,204,292 2,004,738
Current assets
Debtors 5 20,038 22,148
Cash at bank and in hand 60,881 135,688
80,919 157,836
Creditors: amounts falling due within one year 6 (1,757,274) (1,711,875)
Net current liabilities (1,676,355) (1,554,039)
Net assets 527,937 450,699
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 5,084 5,084
Profit and loss account 522,753 445,515
Shareholder's funds 527,937 450,699
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R W Emanuel
Director
Approved by the board on 19 September 2024
##
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 1,783,147 51,726 1,834,873
Additions 186,882 20,345 207,227
Disposals - (5,711) (5,711)
At 31 March 2024 1,970,029 66,360 2,036,389
Depreciation
At 1 April 2023 - 31,745 31,745
Charge for the year - 3,746 3,746
On disposals - (3,723) (3,723)
At 31 March 2024 - 31,768 31,768
Net book value
At 31 March 2024 1,970,029 34,592 2,004,621
At 31 March 2023 1,783,147 19,981 1,803,128
4 Investments
Other
investments
£
Cost
At 1 April 2023 201,610
Additions 16,061
Disposals (18,000)
At 31 March 2024 199,671
5 Debtors 2024 2023
£ £
Trade debtors 15,986 11,620
Other debtors 4,052 10,528
20,038 22,148
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 5,294 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest 120,000 -
Corporation tax 20,686 33,603
Other taxes and social security costs 7,229 7,955
Other creditors 1,604,065 1,670,317
1,757,274 1,711,875
7 Revaluation reserve 2024 2023
£ £
At 1 April 2023 5,084 5,084
At 31 March 2024 5,084 5,084
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr R W Emanuel
Directors Loan Account (1,641,842) 76,875 (7,472) (1,572,439)
(1,641,842) 76,875 (7,472) (1,572,439)
9 Related party transactions
As at 31st March 2024, the director, Mr R W Emanuel, was owed £1,572,439 (2023: £1,641,842) by the Company. This loan is unsecured and interest free.
During the year the Company charged rental fees of £14,079 (2023: £10,400) to Emanuel Jones LLP, a business whereby Mr R W Emanuel is a member.
During the year the Company charged management service charge fees of £721 (2023: £568) to Castle House Partnership, a business whereby Mr R W Emanuel is a partner.
10 Controlling party
The company is controlled by its director and sole shareholder, Mr R W Emanuel.
11 Other information
Raftis Consultants Limited is a private company limited by shares and incorporated in England. Its registered office is:
6 Ty Nant Court
Morganstown
Cardiff
CF15 8LW
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