REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 29 February 2024 |
for |
RHINO AFRICA SAFARIS LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 29 February 2024 |
for |
RHINO AFRICA SAFARIS LIMITED |
RHINO AFRICA SAFARIS LIMITED (REGISTERED NUMBER: 07922073) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
RHINO AFRICA SAFARIS LIMITED |
Company Information |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and Statutory Auditors |
Bath House |
6-8 Bath Street |
Bristol |
BS1 6HL |
RHINO AFRICA SAFARIS LIMITED (REGISTERED NUMBER: 07922073) |
Balance Sheet |
29 FEBRUARY 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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 director and authorised for issue on |
RHINO AFRICA SAFARIS LIMITED (REGISTERED NUMBER: 07922073) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
1. | COMPANY INFORMATION |
Rhino Africa Safaris Limited is a |
The principal activity of the company in the year under review was that of the provision of management consultancy services in respect of its parent entity. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006. |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below. |
Going concern |
The financial statements have been prepared on a going concern basis. The director has reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate any adverse conditions, and the current resources available, the director has concluded that the company can continue to adopt the going concern basis in preparing the annual report and accounts. |
Turnover |
Turnover represents the total invoice value, excluding value added tax, of sales made during the year ended 29 February 2024 and derives from the provision of services falling within the company's ordinary activities. |
RHINO AFRICA SAFARIS LIMITED (REGISTERED NUMBER: 07922073) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
2. | ACCOUNTING POLICIES - continued |
Cash and cash equivalents |
Cash and cash equivalents 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. |
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 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. |
Financial assets |
Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
Financial liabilities |
Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire. |
Taxation |
Taxation for the year comprises the current tax charge. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
RHINO AFRICA SAFARIS LIMITED (REGISTERED NUMBER: 07922073) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Social security & other taxes | - | 140 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Tax |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
Included in other creditors are pension contributions not paid to the pension administrator at the year end of £294 (2023 - £257). |
6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
7. | RELATED PARTY DISCLOSURES |
The company is a 100% subsidiary undertaking of Rhino Africa Safaris (Pty) South Africa, a company registered in South Africa. |
All of the company's turnover of £128,390 in respect of management service charges (2023 - £120,949) was attributable to its parent entity, Rhino Africa Safaris (Pty) South Africa. At the year end date Rhino Africa Safaris Limited was owed the sum of £158,516 by Rhino Africa Safaris (Pty) South Africa (2023 - £142,834). |
8. | ULTIMATE CONTROLLING PARTY |
The company is controlled by Rhino Africa Safaris (Pty) South Africa, which itself does not have a single controlling party. |