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REGISTERED NUMBER: 09037721 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024

FOR

REFALI LIMITED

REFALI LIMITED (REGISTERED NUMBER: 09037721)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31ST MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REFALI LIMITED

COMPANY INFORMATION
for the Year Ended 31ST MAY 2024







DIRECTOR: Mr J S Shipman





SECRETARY: Ms M J Halliday





REGISTERED OFFICE: 327 Clifton Drive South
Lytham St Annes
Lancashire
FY8 1HN





REGISTERED NUMBER: 09037721 (England and Wales)





ACCOUNTANTS: Whitehead & Howarth
327 Clifton Drive South
Lytham St Annes
Lancashire
FY8 1HN

REFALI LIMITED (REGISTERED NUMBER: 09037721)

BALANCE SHEET
31ST MAY 2024

31/5/24 31/5/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,761 15,921

CURRENT ASSETS
Stocks 500 500
Debtors 5 15,948 24,673
Cash at bank 7,689 5,175
24,137 30,348
CREDITORS
Amounts falling due within one year 6 33,981 29,145
NET CURRENT (LIABILITIES)/ASSETS (9,844 ) 1,203
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,917

17,124

PROVISIONS FOR LIABILITIES 2,235 3,025
NET (LIABILITIES)/ASSETS (318 ) 14,099

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (1,318 ) 13,099
(318 ) 14,099

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 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.

REFALI LIMITED (REGISTERED NUMBER: 09037721)

BALANCE SHEET - continued
31ST MAY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27th February 2025 and were signed by:





Mr J S Shipman - Director


REFALI LIMITED (REGISTERED NUMBER: 09037721)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31ST MAY 2024

1. STATUTORY INFORMATION

Refali 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.

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.
Plant and machinery etc - 20% on cost and 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

REFALI LIMITED (REGISTERED NUMBER: 09037721)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31ST MAY 2024

2. ACCOUNTING POLICIES - continued

Going concern
During the year, the company declared a dividend of £1,143 based on reserves in the draft management accounts. However, at the balance sheet date, liabilities exceeded assets by £318, which rendered the dividend illegal as it is not supported by distributable profits in accordance with the Companies Act. Included in liabilities is a loan due to the director of £9,529.

The director is taking corrective actions to address the issue and restore compliance with legal requirements. The director is therefore of the opinion that, with his continued support, the company will have sufficient resources in the foreseeable future to meet its obligations as they fall due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st June 2023 26,472
Additions 1,790
Disposals (2,300 )
At 31st May 2024 25,962
DEPRECIATION
At 1st June 2023 10,551
Charge for year 4,171
Eliminated on disposal (521 )
At 31st May 2024 14,201
NET BOOK VALUE
At 31st May 2024 11,761
At 31st May 2023 15,921

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Trade debtors 10,055 13,981
Other debtors 5,893 10,692
15,948 24,673

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Trade creditors 20,474 15,074
Taxation and social security 228 4,684
Other creditors 13,279 9,387
33,981 29,145

REFALI LIMITED (REGISTERED NUMBER: 09037721)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31ST MAY 2024

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J S Shipman.