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REGISTERED NUMBER: 10961254 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 March 2024

for

Rhino Properties Bristol Ltd

Rhino Properties Bristol Ltd (Registered number: 10961254)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Rhino Properties Bristol Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs F N De La Lynde
Mr D K Harvey
Mr S D Harvey





REGISTERED OFFICE: 24 Wesley Place
Bristol
City of Bristol
BS8 2YD





REGISTERED NUMBER: 10961254 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

Rhino Properties Bristol Ltd (Registered number: 10961254)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 27,040 -
Investment property 5 46,617,921 46,984,828
46,644,961 46,984,828

CURRENT ASSETS
Debtors 6 8,358 629,057
Cash at bank 1,753,266 288,461
1,761,624 917,518
CREDITORS
Amounts falling due within one year 7 (614,610 ) (483,037 )
NET CURRENT ASSETS 1,147,014 434,481
TOTAL ASSETS LESS CURRENT LIABILITIES 47,791,975 47,419,309

CREDITORS
Amounts falling due after more than one year 8 (18,421,500 ) (18,421,500 )

PROVISIONS FOR LIABILITIES (1,337,398 ) (1,502,512 )
NET ASSETS 28,033,077 27,495,297

CAPITAL AND RESERVES
Called up share capital 10 12,027,000 12,027,000
Share premium 11 6,899,250 6,899,250
Fair value reserve 11 3,979,193 4,507,537
Retained earnings 11 5,127,634 4,061,510
SHAREHOLDERS' FUNDS 28,033,077 27,495,297

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Properties Bristol Ltd (Registered number: 10961254)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





Mr D K Harvey - Director


Rhino Properties Bristol Ltd (Registered number: 10961254)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Rhino Properties Bristol 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.

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 consists of rents receivable. Revenue is recognised evenly over the rental period.

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

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.

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 2 (2023 - NIL ) .

Rhino Properties Bristol Ltd (Registered number: 10961254)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
Additions 28,504 994 29,498
At 31 March 2024 28,504 994 29,498
DEPRECIATION
Charge for year 2,375 83 2,458
At 31 March 2024 2,375 83 2,458
NET BOOK VALUE
At 31 March 2024 26,129 911 27,040

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 46,984,828
Additions 337,551
Revaluations (704,458 )
At 31 March 2024 46,617,921
NET BOOK VALUE
At 31 March 2024 46,617,921
At 31 March 2023 46,984,828

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 6,010,049
Valuation in 2024 (704,458 )
Cost 41,312,330
46,617,921

If the properties had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 41,312,330 40,974,779

The investment properties were valued on an open market basis on 31 March 2024 by the directors .

Rhino Properties Bristol Ltd (Registered number: 10961254)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 1,672 623,115
Prepayments 6,686 5,942
8,358 629,057

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 4,133 1,247
Tax 364,994 239,393
Other creditors 236,553 212,820
Deferred income 6,746 -
Accrued expenses 2,184 29,577
614,610 483,037

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 9,871,500 9,871,500
Bank loans - 2-5 years 8,550,000 8,550,000
18,421,500 18,421,500

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 18,421,500 18,421,500

The bank loans are secured on the properties owned by the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
9,000,000 Ordinary A shares £1 9,000,000 9,000,000
3,000,000 Ordinary B shares £1 3,000,000 3,000,000
27,000 Ordinary C shares £1 27,000 27,000
12,027,000 12,027,000

Rhino Properties Bristol Ltd (Registered number: 10961254)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. RESERVES
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1 April 2023 4,061,510 6,899,250 4,507,537 15,468,297
Profit for the year 556,765 - - 556,765
Dividends (18,985 ) - - (18,985 )
Assets revalued in period 528,344 - (528,344 ) -
At 31 March 2024 5,127,634 6,899,250 3,979,193 16,006,077