Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-31false2023-06-01false30No description of principal activity35falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08368760 2023-06-01 2024-05-31 08368760 2022-02-01 2023-05-31 08368760 2024-05-31 08368760 2023-05-31 08368760 c:Director1 2023-06-01 2024-05-31 08368760 d:PlantMachinery 2023-06-01 2024-05-31 08368760 d:PlantMachinery 2024-05-31 08368760 d:PlantMachinery 2023-05-31 08368760 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08368760 d:MotorVehicles 2023-06-01 2024-05-31 08368760 d:MotorVehicles 2024-05-31 08368760 d:MotorVehicles 2023-05-31 08368760 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08368760 d:FurnitureFittings 2023-06-01 2024-05-31 08368760 d:FurnitureFittings 2024-05-31 08368760 d:FurnitureFittings 2023-05-31 08368760 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08368760 d:OfficeEquipment 2023-06-01 2024-05-31 08368760 d:OfficeEquipment 2024-05-31 08368760 d:OfficeEquipment 2023-05-31 08368760 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08368760 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08368760 d:ComputerSoftware 2024-05-31 08368760 d:ComputerSoftware 2023-05-31 08368760 d:CurrentFinancialInstruments 2024-05-31 08368760 d:CurrentFinancialInstruments 2023-05-31 08368760 d:Non-currentFinancialInstruments 2024-05-31 08368760 d:Non-currentFinancialInstruments 2023-05-31 08368760 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 08368760 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 08368760 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 08368760 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 08368760 d:ShareCapital 2024-05-31 08368760 d:ShareCapital 2023-05-31 08368760 d:RetainedEarningsAccumulatedLosses 2024-05-31 08368760 d:RetainedEarningsAccumulatedLosses 2023-05-31 08368760 c:OrdinaryShareClass1 2023-06-01 2024-05-31 08368760 c:OrdinaryShareClass1 2024-05-31 08368760 c:OrdinaryShareClass1 2023-05-31 08368760 c:FRS102 2023-06-01 2024-05-31 08368760 c:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 08368760 c:FullAccounts 2023-06-01 2024-05-31 08368760 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08368760 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-06-01 2024-05-31 08368760 2 2023-06-01 2024-05-31 08368760 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-05-31 08368760 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-05-31 08368760 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-05-31 08368760 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-05-31 08368760 d:LeasedAssetsHeldAsLessee 2024-05-31 08368760 d:LeasedAssetsHeldAsLessee 2023-05-31 08368760 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 08368760










Rhino Aluminium Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 May 2024

 
Rhino Aluminium Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Rhino Aluminium Limited for the year ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rhino Aluminium Limited for the year ended 31 May 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Rhino Aluminium Limited, as a body, in accordance with the terms of our engagement letter dated 12 April 2022Our work has been undertaken solely to prepare for your approval the financial statements of Rhino Aluminium Limited and state those matters that we have agreed to state to the Board of directors of Rhino Aluminium Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rhino Aluminium Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Rhino Aluminium Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rhino Aluminium Limited. You consider that Rhino Aluminium Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Rhino Aluminium Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Canterbury
24 February 2025
Page 1

 
Rhino Aluminium Limited
Registered number: 08368760

Balance sheet
As at 31 May 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
11,657
-

Tangible assets
 5 
227,640
243,386

  
239,297
243,386

Current assets
  

Stocks
  
568,489
418,327

Debtors: amounts falling due within one year
 6 
666,826
754,247

Cash at bank and in hand
  
365,927
279,255

  
1,601,242
1,451,829

Creditors: amounts falling due within one year
 7 
(774,659)
(631,604)

Net current assets
  
 
 
826,583
 
 
820,225

Total assets less current liabilities
  
1,065,880
1,063,611

Creditors: amounts falling due after more than one year
 8 
(35,086)
(50,849)

  

Net assets
  
1,030,794
1,012,762


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
1,030,694
1,012,662

  
1,030,794
1,012,762


Page 2

 
Rhino Aluminium Limited
Registered number: 08368760

Balance sheet (continued)
As at 31 May 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 February 2025.




P J King
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
Rhino Aluminium Limited
 

 
Notes to the financial statements
For the year ended 31 May 2024

1.


General information

Rhino Aluminium Limited (“the company”) is a private company limited by shares and is incorporated in England and Wales with the registration number 08368760.  The address of the registered office is B5 Millennium Way, Thanet Reach Business Park, Broadstairs, Kent, United Kingdom, CT10 2QQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as 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

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
Rhino Aluminium Limited
 

 
Notes to the financial statements
For the year ended 31 May 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Motor vehicles
-
25%
Fixtures and fittings
-
15%
Office equipment
-
15%

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 profit or loss.

Page 5

 
Rhino Aluminium Limited
 

 
Notes to the financial statements
For the year ended 31 May 2024

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

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.

 
2.12

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.

 
2.13

Creditors

Short-term 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.

 
2.14

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

The average monthly number of employees, including directors, during the year was 35 (2023 - 30).

Page 6

 
Rhino Aluminium Limited
 

 
Notes to the financial statements
For the year ended 31 May 2024

4.


Intangible assets




Computer software

£



Cost


Additions
11,657



At 31 May 2024

11,657






Net book value



At 31 May 2024
11,657



At 31 May 2023
-




5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 June 2023
357,713
29,369
39,805
44,477
471,364


Additions
10,790
10,500
-
1,894
23,184



At 31 May 2024

368,503
39,869
39,805
46,371
494,548



Depreciation


At 1 June 2023
167,316
26,367
19,916
14,379
227,978


Charge for the year on owned assets
30,178
970
2,983
4,799
38,930



At 31 May 2024

197,494
27,337
22,899
19,178
266,908



Net book value



At 31 May 2024
171,009
12,532
16,906
27,193
227,640



At 31 May 2023
190,397
3,002
19,889
30,098
243,386

Page 7

 
Rhino Aluminium Limited
 

 
Notes to the financial statements
For the year ended 31 May 2024

           5.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
59,864
70,428

Motor vehicles
10,281
-

70,145
70,428


6.


Debtors

2024
2023
£
£


Trade debtors
552,108
566,813

Other debtors
63,398
10,094

Prepayments and accrued income
51,320
177,340

666,826
754,247



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
18,896

Trade creditors
390,008
445,940

Taxation and social security
158,722
100,734

Obligations under finance lease and hire purchase contracts
15,757
11,144

Other creditors
4,652
51,390

Accruals and deferred income
195,520
3,500

774,659
631,604



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
9,974
19,999

Net obligations under finance leases and hire purchase contracts
25,112
30,850

35,086
50,849


Page 8

 
Rhino Aluminium Limited
 

 
Notes to the financial statements
For the year ended 31 May 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



10.


Related party transactions

All related party transactions during the current and prior periods, including key management personnel compensation, were made under normal market conditions


11.


Controlling party

The company is controlled by Mr P King, a director of the company, by virtue of his majority shareholding.

Page 9