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REGISTERED NUMBER: 04912218 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Raphael Holdings Limited

Raphael Holdings Limited (Registered number: 04912218)

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Raphael Holdings Limited

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | R C Hayhoe

| M G O'Brien

| J R Hayhoe

| SECRETARY: | R C Hayhoe

| REGISTERED OFFICE: | Raphael House

| 123 Roebuck Road

| Chessington

| Surrey

| KT9 1EU

| REGISTERED NUMBER: | 04912218 (England and Wales)

| ACCOUNTANTS: | CWF & Partners Ltd

| Chartered Accountants

| Freedman House

| Christopher Wren Yard

| 117 High Street

| Croydon

| Surrey

| CR0 1QG

Raphael Holdings Limited (Registered number: 04912218)

Balance Sheet

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 5 | 693,802 |  | 704,586 |  |

Investments | 6 | 6,215 |  | 6,315 |  |

Investment property | 7 | 500,250 |  | 500,250 |  |

1,200,267 |  | 1,211,151 |  |

CURRENT ASSETS

Debtors | 8 | 12,952 |  | 14,513 |  |

Cash at bank | 25,258 |  | - |  |

38,210 |  | 14,513 |  |

CREDITORS

Amounts falling due within one year | 9 | 417,021 |  | 540,142 |  |

NET CURRENT LIABILITIES | (378,811 | ) | (525,629 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 821,456 |  | 685,522 |  |

PROVISIONS FOR LIABILITIES | 25,384 |  | 25,384 |  |

NET ASSETS | 796,072 |  | 660,138 |  |

CAPITAL AND RESERVES

Called up share capital | 10 | 200 |  | 200 |  |

Fair value reserve | (25,384 | ) | (25,384 | ) |

Retained earnings | 821,256 |  | 685,322 |  |

SHAREHOLDERS' FUNDS | 796,072 |  | 660,138 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

Raphael Holdings Limited (Registered number: 04912218)

Balance Sheet - continued

31 March 2025

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by:

R C Hayhoe - Director

M G O'Brien - Director

Raphael Holdings Limited (Registered number: 04912218)

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Raphael Holdings 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 presentation currency of the financial statements is the Pound Sterling (£).

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention as modified by the recognition of certain financial assets and liabilities measured at fair value.

| Preparation of consolidated financial statements

| The financial statements contain information about Raphael Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| 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.

| Freehold property | - | 4% on cost

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Taxation

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

Raphael Holdings Limited (Registered number: 04912218)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

3. | ACCOUNTING POLICIES - continued

| 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.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme.The assets of the scheme are held separately from those of the company in independently administered funds. The amount charged to the profit and loss account represents the contributions payable to the scheme in respect of the accounting period.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 5 (2024 - 5 ) .

5. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024 | 898,706 |  | - |  | 898,706 |  |

| Additions | - |  | 16,200 |  | 16,200 |  |

| Disposals | - |  | (16,200 | ) | (16,200 | ) |

| At 31 March 2025 | 898,706 |  | - |  | 898,706 |  |

| DEPRECIATION

| At 1 April 2024 | 194,120 |  | - |  | 194,120 |  |

| Charge for year | 10,784 |  | - |  | 10,784 |  |

| At 31 March 2025 | 204,904 |  | - |  | 204,904 |  |

| NET BOOK VALUE

| At 31 March 2025 | 693,802 |  | - |  | 693,802 |  |

| At 31 March 2024 | 704,586 |  | - |  | 704,586 |  |

| Included in cost of land and buildings is freehold land of £ 359,482 (2024 - £ 359,482 ) which is not depreciated.

Raphael Holdings Limited (Registered number: 04912218)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

6. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 April 2024 | 6,315 |  |

| Impairments | (100 | ) |

| At 31 March 2025 | 6,215 |  |

| NET BOOK VALUE

| At 31 March 2025 | 6,215 |  |

| At 31 March 2024 | 6,315 |  |

7. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 April 2024

| and 31 March 2025 | 500,250 |  |

| NET BOOK VALUE

| At 31 March 2025 | 500,250 |  |

| At 31 March 2024 | 500,250 |  |

| The investment property are valued by the director on an open market existing use basis.

| The historical cost of the investment property amounts to £365,000.

8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade debtors | 2,471 |  | 6,107 |  |

| Other debtors | 10,481 |  | 8,406 |  |

12,952 |  | 14,513 |  |

9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank loans and overdrafts | - |  | 129,719 |  |

| Trade creditors | 357 |  | - |  |

| Amounts owed to group undertakings | 397,880 |  | 396,478 |  |

| Taxation and social security | 14,784 |  | 10,145 |  |

| Other creditors | 4,000 |  | 3,800 |  |

417,021 |  | 540,142 |  |

Raphael Holdings Limited (Registered number: 04912218)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

10. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.3.25 |  | 31.3.24

| value: | £ | £ |

| 97 | Ordinary A | £1 | 97 |  | 97 |  |

| 98 | Ordinary B | £1 | 98 |  | 98 |  |

| 2 | Ordinary C | £1 | 2 |  | 2 |  |

| 1 | Ordinary D | £1 | 1 |  | 1 |  |

| 2 | Ordinary E | £1 | 2 |  | 2 |  |

200 |  | 200 |  |

11. | RELATED PARTY DISCLOSURES

| The ultimate controlling party is R C Hayhoe.