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REGISTERED NUMBER: 00417897 (England and Wales)


















RAFSEAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






RAFSEAL LIMITED (REGISTERED NUMBER: 00417897)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RAFSEAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: R A Hopes
M J Hopes





REGISTERED OFFICE: Millers Avenue
Brynmenyn Industrial Estate
Brynmenyn
BRIDGEND
Bridgend
CF32 9TD





REGISTERED NUMBER: 00417897 (England and Wales)





ACCOUNTANTS: MHA (trading name of MHA Advisory Ltd)
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

RAFSEAL LIMITED (REGISTERED NUMBER: 00417897)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
as restated
Notes £    £   
FIXED ASSETS
Tangible assets 4 383,398 387,109
Investments 5 583,788 492,194
967,186 879,303

CURRENT ASSETS
Stocks 23,667 20,557
Debtors 6 68,811 65,697
Cash at bank and in hand 268,737 262,870
361,215 349,124
CREDITORS
Amounts falling due within one year 7 (33,778 ) (20,516 )
NET CURRENT ASSETS 327,437 328,608
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,294,623

1,207,911

PROVISIONS FOR LIABILITIES (78,031 ) (55,975 )
NET ASSETS 1,216,592 1,151,936

CAPITAL AND RESERVES
Called up share capital 8 42,000 42,000
Non-distributable reserve 321,962 262,187
Retained earnings 852,630 847,749
SHAREHOLDERS' FUNDS 1,216,592 1,151,936

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

RAFSEAL LIMITED (REGISTERED NUMBER: 00417897)

BALANCE SHEET - continued
31 OCTOBER 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 July 2025 and were signed on its behalf by:





M J Hopes - Director


RAFSEAL LIMITED (REGISTERED NUMBER: 00417897)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

Rafseal 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.

The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 as modified by the revaluation of certain assets.

There have been no material departures from Financial Reporting Standard 102 1A.

Turnover
Turnover represents amounts invoiced during the year in respect of sales of gasket and sealing products, exclusive of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on reducing balance
Plant and machinery - 10% on reducing balance

Freehold property within tangible fixed assets are stated at fair value. Gains are recognised in the profit and loss account.

Stocks
Stocks are valued at the lower of cost and the estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

Current tax
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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.

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. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

RAFSEAL LIMITED (REGISTERED NUMBER: 00417897)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued

Investments
Investments are included at fair value. Gains are recognised in the profit and loss statement. Deferred tax is provided on these gains at the rate expected to apply when the asset is sold.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Non-derivative financial instruments
Basic financial instruments are recognised at amortised cost.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Land and Plant and
Property machinery Totals
£    £    £   
COST OR VALUATION
At 1 November 2023
and 31 October 2024 350,000 185,517 535,517
DEPRECIATION
At 1 November 2023 - 148,408 148,408
Charge for year - 3,711 3,711
At 31 October 2024 - 152,119 152,119
NET BOOK VALUE
At 31 October 2024 350,000 33,398 383,398
At 31 October 2023 350,000 37,109 387,109

Cost or valuation at 31 October 2024 is represented by:

Land and Plant and
Property machinery Totals
£    £    £   
Valuation in 2024 350,000 - 350,000
Cost - 185,517 185,517
350,000 185,517 535,517

If the freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
as restated
£    £   
Cost 254,713 254,713
Aggregate depreciation 146,632 146,632

Value of land in freehold land and buildings 350,000 350,000

The freehold property was valued at fair value in October 2024 by the directors who do not have formal valuation qualifications. In valuing the property the directors have considered sales prices of comparable properties in the same area.

RAFSEAL LIMITED (REGISTERED NUMBER: 00417897)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
as restated
£    £   
Investment bonds 492,194 462,332
Revaluation 82,673 22,660
Additions 8,921 7,202
583,788 492,194

Cost or valuation at 31 October 2024 is represented by:

Investment
bonds
£
Valuation in 2024 583,788

Valuation as per investment valuation report.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 64,857 51,084
Prepayments and Accrued Income 3,954 4,892
Social security and other
taxes - 9,721
68,811 65,697

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade creditors 14,711 10,673
Corporation tax 14,974 7,244
Social security and other taxes 1,486 -
VAT 482 849
Accrued expenses 2,125 1,750
33,778 20,516

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£    £   
42,000 Ordinary Shares £1 42,000 42,000