REGISTERED NUMBER: 02159876 (England and Wales)

RAFT SYSTEMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R J Farmer

Mr M J Farmer

S J Farmer

Mr R J Farmer

SECRETARY:

C A Oldfield

REGISTERED OFFICE:

16 Victory Avenue

Waterlooville

Hampshire

PO8 9PH

REGISTERED NUMBER:

02159876 (England and Wales)

ACCOUNTANTS:

Morris Crocker

Chartered Accountants

Lake House

2 Port Way

Port Solent

Portsmouth

Hampshire

PO6 4TY

FIXED ASSETS

Tangible assets

4

118,194

128,244

CURRENT ASSETS

Stocks

5,586

23,194

Debtors

5

53,303

43,444

Cash at bank and in hand

138,885

5,358

197,774

71,996

CREDITORS

Amounts falling due within one year

6

104,834

69,979

NET CURRENT ASSETS

92,940

2,017

TOTAL ASSETS LESS CURRENT LIABILITIES

211,134

130,261

CREDITORS

Amounts falling due after more than one year

7

22,294

46,628

NET ASSETS

188,840

83,633

CAPITAL AND RESERVES

Called up share capital

200,000

200,000

Revaluation reserve

8

82,432

82,432

Retained earnings

(93,592

)

(198,799

)

SHAREHOLDERS' FUNDS

188,840

83,633

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 24 April 2026 and were signed on its behalf by:

Mr R J Farmer - Director

1.	STATUTORY INFORMATION

Raft Systems 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.

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.

Turnover

Turnover is derived from ordinary activities, stated net of Value Added Tax. The revenue is recognised at the point when the company satisfies a performance obligation to a customer as agreed.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Industry specific machinery consists of items that due to their rarity and considerable worth to the industry appreciate in value, as such they are revalued each year and subsequently depreciated on this revalued amount.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern

The company continues to be profit making and is now in a position where it has net assets rather than net liabilities as per previous years. The company is still reliant on its bank overdraft, which is reviewed annually. On this basis the director considers it appropriate to prepare accounts on the going concern basis. The financial statements do not include any adjustments that would result in the company suffering further trading losses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST OR VALUATION

At 1 October 2024

412,203

Additions

6,732

Disposals

(28,324

)

At 30 September 2025

390,611

DEPRECIATION

At 1 October 2024

283,959

Charge for year

15,088

Eliminated on disposal

(26,630

)

At 30 September 2025

272,417

NET BOOK VALUE

At 30 September 2025

118,194

At 30 September 2024

128,244

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and

machinery

etc

£

COST OR VALUATION

At 1 October 2024

and 30 September 2025

50,573

DEPRECIATION

At 1 October 2024

9,205

Charge for year

10,342

At 30 September 2025

19,547

NET BOOK VALUE

At 30 September 2025

31,026

At 30 September 2024

41,368

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

50,803

40,944

Other debtors

2,500

2,500

53,303

43,444

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

16,546

19,879

Trade creditors

10,661

3,427

Taxation and social security

52,763

31,314

Other creditors

24,864

15,359

104,834

69,979

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

22,294

38,840

Other creditors

-

7,788

22,294

46,628

8.

RESERVES

Revaluation

reserve

£

At 1 October 2024

and 30 September 2025

82,432