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REGISTERED NUMBER: 08220428 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

RHINO BUILDING AND DIY SUPPLIES LTD

RHINO BUILDING AND DIY SUPPLIES LTD (REGISTERED NUMBER: 08220428)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RHINO BUILDING AND DIY SUPPLIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr T Conway
Cranley Holdings Ltd





REGISTERED OFFICE: The Old Woodyard
Reedham Road
Acle
Norwich
Norfolk
NR13 3DF





REGISTERED NUMBER: 08220428 (England and Wales)





ACCOUNTANTS: Berry & Warren Ltd
Chartered Accountants
54 Thorpe Road
Norwich
Norfolk
NR1 1RY

RHINO BUILDING AND DIY SUPPLIES LTD (REGISTERED NUMBER: 08220428)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 84,679 78,904
Investments 5 1,300 1,300
85,979 80,204

CURRENT ASSETS
Stocks 340,395 334,205
Debtors 6 313,046 262,954
Cash at bank and in hand 124,882 218,106
778,323 815,265
CREDITORS
Amounts falling due within one year 7 442,640 482,735
NET CURRENT ASSETS 335,683 332,530
TOTAL ASSETS LESS CURRENT
LIABILITIES

421,662

412,734

PROVISIONS FOR LIABILITIES 15,476 17,865
NET ASSETS 406,186 394,869

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 406,086 394,769
SHAREHOLDERS' FUNDS 406,186 394,869

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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.

RHINO BUILDING AND DIY SUPPLIES LTD (REGISTERED NUMBER: 08220428)

BALANCE SHEET - continued
30 SEPTEMBER 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:





Mr T Conway - Director


RHINO BUILDING AND DIY SUPPLIES LTD (REGISTERED NUMBER: 08220428)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Rhino Building and DIY Supplies Ltd 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. 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.

The directors have considered the company's position at the time of signing the financial statements. After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The following criteria must also be met before revenue is recognised:

Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has accepted delivery of the goods.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Short leasehold - 7 year straight line
Plant and machinery - 25% reducing balance
Motor vehicles - 5 year straight line and 25% reducing balance
Office equipment - 3 year straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and retained earnings.

Fixed asset investments
Other investments are shown at cost.

RHINO BUILDING AND DIY SUPPLIES LTD (REGISTERED NUMBER: 08220428)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

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

Cost is calculated using the first in, first out method.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

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

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.

RHINO BUILDING AND DIY SUPPLIES LTD (REGISTERED NUMBER: 08220428)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Short Plant and Motor Office
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 39,479 87,900 204,855 13,250 345,484
Additions - 15,743 18,228 - 33,971
At 30 September 2024 39,479 103,643 223,083 13,250 379,455
DEPRECIATION
At 1 October 2023 28,200 62,240 165,468 10,672 266,580
Charge for year 5,640 9,039 10,939 2,578 28,196
At 30 September 2024 33,840 71,279 176,407 13,250 294,776
NET BOOK VALUE
At 30 September 2024 5,639 32,364 46,676 - 84,679
At 30 September 2023 11,279 25,660 39,387 2,578 78,904

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023 46,500
Transfer to ownership (46,500 )
At 30 September 2024 -
DEPRECIATION
At 1 October 2023 37,200
Transfer to ownership (37,200 )
At 30 September 2024 -
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 9,300

RHINO BUILDING AND DIY SUPPLIES LTD (REGISTERED NUMBER: 08220428)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2023
and 30 September 2024 1,300
NET BOOK VALUE
At 30 September 2024 1,300
At 30 September 2023 1,300

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 305,446 255,806
Other debtors 7,600 7,148
313,046 262,954

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) - 2,713
Trade creditors 333,558 357,599
Taxation and social security 64,039 68,748
Other creditors 45,043 53,675
442,640 482,735

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year - 2,713

Non-cancellable operating leases
2024 2023
£    £   
Within one year 40,500 40,500
Between one and five years 81,000 121,500
121,500 162,000

RHINO BUILDING AND DIY SUPPLIES LTD (REGISTERED NUMBER: 08220428)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts - 2,713

Hire purchase liabilities are secured on the assets financed.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr T Conway.

The ultimate parent company is Cranley Holdings Ltd and its registered office is Cranley Cottage, Denham Street, Eye, Suffolk, IP21 5EX.