Rafiki Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03744449 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Rafiki Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs Shriti Niraj Shah

Mr Niraj Dhirajlal Shah

Mr Sarju Dhirajlal Shah

SECRETARY:

Mr Niraj Dhirajlal Shah

REGISTERED OFFICE:

845 Honeypot Lane

Stanmore

MIDDLESEX

HA7 1AR

REGISTERED NUMBER:

03744449 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

1,700

Tangible assets

5

824,359

841,380

Investment property

6

244,000

244,000

1,068,359

1,087,080

CURRENT ASSETS

Debtors

7

304,554

150,428

Cash at bank and in hand

1,439,473

1,439,468

1,744,027

1,589,896

CREDITORS

Amounts falling due within one year

8

1,463,714

1,451,670

NET CURRENT ASSETS

280,313

138,226

TOTAL ASSETS LESS CURRENT LIABILITIES

1,348,672

1,225,306

CREDITORS

Amounts falling due after more than one year

9

(612,750

)

(659,737

)

PROVISIONS FOR LIABILITIES

(8,467

)

(7,904

)

NET ASSETS

727,455

557,665

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

10

35,777

35,777

Retained earnings

691,578

521,788

SHAREHOLDERS' FUNDS

727,455

557,665

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 5 October 2020 and were signed on its behalf by:

Mr Niraj Dhirajlal Shah - Director

1.	STATUTORY INFORMATION

Rafiki 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 10% on 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.

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

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2019 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

17,000

AMORTISATION

At 1 April 2019

15,300

Charge for year

1,700

At 31 March 2020

17,000

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

1,700

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2019

776,864

209,474

986,338

Additions

-

4,148

4,148

Disposals

-

(8,246

)

(8,246

)

At 31 March 2020

776,864

205,376

982,240

DEPRECIATION

At 1 April 2019

-

144,958

144,958

Charge for year

-

12,923

12,923

At 31 March 2020

-

157,881

157,881

NET BOOK VALUE

At 31 March 2020

776,864

47,495

824,359

At 31 March 2019

776,864

64,516

841,380

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

and 31 March 2020

244,000

NET BOOK VALUE

At 31 March 2020

244,000

At 31 March 2019

244,000

Fair value at 31 March 2020 is represented by:

£

Valuation in 2016

34,721

Valuation in 2017

10,000

Cost

199,279

244,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

105,688

148,214

Amounts owed by associates

197,500

-

Other debtors

1,366

2,214

304,554

150,428

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

2,075

6,301

Amounts owed to associates

-

3,000

Taxation and social security

107,633

76,832

Other creditors

1,354,006

1,365,537

1,463,714

1,451,670

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans

609,662

645,100

Hire purchase contracts

3,088

14,637

612,750

659,737

31.3.20

31.3.19

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank Loan

609,662

645,100

10.

RESERVES

Fair

value

reserve

£

At 1 April 2019

and 31 March 2020

35,777

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 March 2020, Rafiki Ltd owed £203.54 to its director. This amount is reflected accordingly in the director's loan

accounts in credit balances, which is shown under Creditors due within one year. Please be advised that the director has

agreed to provide this loan on an interest free basis and the loan is payable on demand.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr Niraj Dhirajlal Shah.

The ultimate controlling party is Mr Niraj Dhirajlal Shah.