Company registration number 03335897 (England and Wales)
RAGI PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
RAGI PROPERTIES LIMITED
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
RAGI PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
174
232
Investment properties
5
13,544,240
13,001,914
13,544,414
13,002,146
Current assets
Debtors
6
21,765
26,175
Investments
7
107,738
205,029
Cash at bank and in hand
1,048,431
831,826
1,177,934
1,063,030
Creditors: amounts falling due within one year
8
(151,599)
(121,997)
Net current assets
1,026,335
941,033
Total assets less current liabilities
14,570,749
13,943,179
Creditors: amounts falling due after more than one year
9
(2,589,873)
(2,600,909)
Provisions for liabilities
(1,334,135)
(1,236,635)
Net assets
10,646,741
10,105,635
Capital and reserves
Called up share capital
10
3,000
3,000
Non-distributable reserves
5,930,369
5,637,827
Profit and loss reserves
4,713,372
4,464,808
Total equity
10,646,741
10,105,635

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 14 November 2025 and are signed on its behalf by:
Mr S Ragi
Director
Company Registration No. 03335897
RAGI PROPERTIES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Share capital
Non-distributable reserves
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2023
3,000
5,627,861
4,265,058
9,895,919
Year ended 31 March 2024:
Profit and total comprehensive income for the year
-
-
257,216
257,216
Dividends
-
-
(47,500)
(47,500)
Transfers
-
9,966
(9,966)
-
Balance at 31 March 2024
3,000
5,637,827
4,464,808
10,105,635
Year ended 31 March 2025:
Profit and total comprehensive income for the year
-
-
596,106
596,106
Dividends
-
-
(55,000)
(55,000)
Transfers
-
292,542
(292,542)
-
Balance at 31 March 2025
3,000
5,930,369
4,713,372
10,646,741
RAGI PROPERTIES LIMITED
STATEMENT OF CHANGES IN EQUITY (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

Ragi Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Prebend House, 72 London Road, Leicester, LE2 0QR.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

2.2
Turnover

Turnover represents amounts receivable by the company in respect of rental income from the letting of investment property.

2.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
15% per annum on reducing balance basis.
Motor vehicles
25% per annum on reducing balance basis.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. The surplus or deficit on revaluation is recognised in the income statement.

RAGI PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2
Accounting policies
(Continued)
- 4 -
2.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

2.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BASIC FINANCIAL ASSETS AND LIABILITIES

Basic financial assets and liabilities, which include debtors and creditors with no stated interest rate and receivables or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

2.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

DEFERRED TAX
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted. Deferred tax is not provided on the revaluation surplus unless there is a binding commitment to sell a property at the year end.
2.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

RAGI PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
3
4
Tangible fixed assets
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2024 and 31 March 2025
364,807
13,000
377,807
Depreciation and impairment
At 1 April 2024
364,807
12,768
377,575
Depreciation charged in the year
-
0
58
58
At 31 March 2025
364,807
12,826
377,633
Carrying amount
At 31 March 2025
-
0
174
174
At 31 March 2024
-
0
232
232
5
Investment property
2025
£
Fair value
At 1 April 2024
13,001,914
Additions
152,269
Revaluations
390,057
At 31 March 2025
13,544,240

The investment properties are stated at the directors' own valuation, using open market value basis.

RAGI PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
5
Investment property
(Continued)
- 6 -
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2025
2024
£
£
Cost
6,279,779
6,127,510
Accumulated depreciation
-
-
Carrying amount
6,279,779
6,127,510
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
8,400
14,725
Other debtors
13,365
11,450
21,765
26,175
7
Current asset investments
2025
2024
£
£
Other investments
107,738
205,029
8
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loan
10,462
10,204
Trade creditors
19,200
-
0
Corporation tax
101,202
76,911
Other taxation and social security
-
0
480
Other creditors
20,735
34,402
151,599
121,997

The bank loan is secured by government guarantee.

RAGI PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
9
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
2,589,873
2,600,909

The bank loans are secured on the respective freehold investment properties, by directors' personal guarantees and government guarantee.

10
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
3,000
3,000
3,000
3,000
11
Financial commitments, guarantees and contingent liabilities

There is an ongoing dispute with the council in relation to property licencing and a possibility of approximately £35,000 to £38,000 in fines may be incurred however this is not yet confirmed and as a reliable estimate cannot be made no provision for this has been made in these financial statements.

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