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Registered number: 02485064
Rif Raff Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Director D Stanley-Chard
Company Number 02485064
Registered Office 2nd Floor Butler House
177-178 Tottenham Court Road
London
W1T 7AF
Accountants Jones & Partners Limited
2nd Floor, Butler House
177-178 Tottenham Court Road
London
W1T 7AF
Page 1
Page 2
Balance Sheet
Registered number: 02485064
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 500,000 250,000
Investments 5 20,305 169
520,305 250,169
CURRENT ASSETS
Debtors 6 250 -
Cash at bank and in hand 15,205 12,170
15,455 12,170
Creditors: Amounts Falling Due Within One Year 7 (11,347 ) (19,848 )
NET CURRENT ASSETS (LIABILITIES) 4,108 (7,678 )
TOTAL ASSETS LESS CURRENT LIABILITIES 524,413 242,491
PROVISIONS FOR LIABILITIES
Deferred Taxation (125,000 ) (62,500 )
NET ASSETS 399,413 179,991
CAPITAL AND RESERVES
Called up share capital 9 2 2
Revaluation reserve 10 375,000 187,500
Profit and Loss Account 24,411 (7,511 )
SHAREHOLDERS' FUNDS 399,413 179,991
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 21 March 2025 and were signed on its behalf by:
D Stanley-Chard
Director
21 March 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Rif Raff Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02485064 . The registered office is 2nd Floor Butler House, 177-178 Tottenham Court Road, London, W1T 7AF.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
2.3. 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 licence fees. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
The company has proprietary right to a higher education programme. This asset is unique to the education sector and the director considers that it should be included in these accounts at fair value and therefore has not been amortised.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Intangible Assets
Other
£
Cost or Valuation
As at 1 April 2023 250,000
Revaluations 250,000
As at 31 March 2024 500,000
Net Book Value
As at 31 March 2024 500,000
As at 1 April 2023 250,000
5. Investments
Unlisted
£
Cost
As at 1 April 2023 169
Revaluations 20,136
As at 31 March 2024 20,305
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 20,305
As at 1 April 2023 169
Investments in subsidiaries are recognised at fair value.
6. Debtors
2024 2023
£ £
Due within one year
Other debtors - subsidiaries 250 -
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Accrued expenses 1,080 853
Director's loan account 10,267 18,995
11,347 19,848
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8. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 April 2023 62,500 62,500
Additions 62,500 62,500
Balance at 31 March 2024 125,000 125,000
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Reserves
Revaluation Reserve
£
As at 1 April 2023 187,500
Transfer to profit and loss 187,500
As at 31 March 2024 375,000
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