Registered number
09930826
Raffal limited
Unaudited Filleted Accounts
for the year ended
30 June 2024
Raffal limited
Report and accounts
Contents
Page
Accountants' report 1
Balance sheet 2
Notes to the accounts 3
Raffal limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Raffal limited for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Raffal limited for the year ended 30 June 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Raffal limited, as a body, in accordance with the terms of our engagement letter dated 30 August 2016. Our work has been undertaken solely to prepare for your approval the accounts of Raffal limited and state those matters that we have agreed to state to the Board of Directors of Raffal limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Raffal limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Raffal limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Raffal limited. You consider that Raffal limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Raffal limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
MAH, Chartered Accountants
2nd Floor
154 Bishopsgate
London
EC2M 4LN
20 May 2025
Raffal limited
Registered number: 09930826
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 317,974 465,405
Tangible assets 4 19,832 10,113
337,806 475,518
Current assets
Debtors 5 6,302 1,969
Cash at bank and in hand 847,506 227,708
853,808 229,677
Creditors: amounts falling due within one year 6 (804,277) (442,588)
Net current assets/(liabilities) 49,531 (212,911)
Net assets 387,337 262,607
Capital and reserves
Called up share capital 7 12,410 12,410
Share premium 8 182,936 182,936
Profit and loss account 9 191,991 67,261
Shareholder's funds 387,337 262,607
The company is exempt from the requirements relating to preparing audited accounts in accordance with section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit of its accounts for the period in question in accordance with section 476 of the Companies Act 2006.
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 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.
The financial statements were authorised for issue and approved by the board on 20 May 2025 and signed on its behalf.
Stelios Kounnou
Director
Approved by the board on 20 May 2025
The notes on pages 3 to 8 form part of these financial statements.
Raffal limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The financial statements have been prepared in compliance with United Kingdom Accounting Standards, including Section 1A of FRS 102, "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes platform fees and commission fees earned from the rendering of market research consultancy services.

Turnover from the online platform for hosting and participating in legally compliant raffles and competitions that provides a secure and transparent system, user-friendly interface, and support throughout the process.
Research and development
Research expenditure is written off to the income statement in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied that:

- an individual project is technically, commercially and financially viable
- a project gives rise to a separately identifiable asset and arises from contractual or other legal rights
- it is probable that future economic benefits that are attributable to the project will flow to the company
- the cost or value of the asset can be measured reliably

If the above criteria are met, the expenditure is deferred and amortised over the period during which the company is expected to benefit.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses.

Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
1 Summary of significant accounting policies(continued)
Financial assets
Basic financial assets, including trade and other receivables and cash or bank balances, excluding any financing transactions, are initially recognised at transaction price and are subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, excluding any financing transactions, are initially recognised at transaction price and are subsequently measured at amortised cost determined using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
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 material 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
1 Summary of significant accounting policies(continued)
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases.

The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments.

Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life.

Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Software development:
Cost
At 1 July 2023 737,156
Additions -
At 30 June 2024 737,156
Amortisation
At 1 July 2023 271,751
Provided during the year 147,431
At 30 June 2024 419,182
Net book value
At 30 June 2024 317,974
At 30 June 2023 465,405
The software development intangible fixed assets relate to internally generated technology which has been developed by the company. The cost is being amortised over the reliably estimated useful economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 26,701
Additions 18,855
At 30 June 2024 45,556
Depreciation
At 1 July 2023 16,588
Charge for the year 9,136
At 30 June 2024 25,724
Net book value
At 30 June 2024 19,832
At 30 June 2023 10,113
5 Debtors 2024 2023
£ £
Other debtors 6,302 1,249
Prepayments and accrued income - 720
6,302 1,969
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,533 83,058
Other creditors 46,352 44,504
Accruals 330,934 87,374
Deferred income 425,458 227,652
804,277 442,588
7 Share capital Nominal 2024 2023
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 12,410 12,410 12,410
At 30 June 2024 12,410 12,410
8 Share premium 2024 2023
£ £
At 1 July 182,936 182,936
At 30 June 182,936 182,936
9 Profit and loss account 2024 2023
£ £
At 1 July 67,261 228,636
Profit/(Loss) for the financial year 124,730 (161,375)
At 30 June 191,991 67,261
10 Controlling party
The director, Stelios Kounnou, controls the company by virtue of his majority shareholding.
11 Presentation currency
The financial statements are presented in Sterling.
12 Legal form of entity and country of incorporation
Raffall Limited is a private company limited by shares and incorporated in England. The address of the company's principal place of business and registered office is:
7 Bell Yard, London, United Kingdom, WC2A 2JR
13 Principal place of business
Raffal limited is a private company limited by shares and incorporated in England. Its registered office is:
7 Bell Yard, London, United Kingdom, WC2A 2JR
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