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REGISTERED NUMBER: 10849738 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

RHINO RANK LTD

RHINO RANK LTD (REGISTERED NUMBER: 10849738)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 8


RHINO RANK LTD (REGISTERED NUMBER: 10849738)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

31.7.24 31.7.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 1,262,281 2,018,152
Tangible assets 5 303,085 390,206
1,565,366 2,408,358

CURRENT ASSETS
Debtors 6 160,365 128,247
Cash at bank 259,442 253,044
419,807 381,291
CREDITORS
Amounts falling due within one year 7 (1,316,672 ) (1,653,762 )
NET CURRENT LIABILITIES (896,865 ) (1,272,471 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

668,501

1,135,887

PROVISIONS FOR LIABILITIES - (69,053 )
NET ASSETS 668,501 1,066,834

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 668,201 1,066,534
668,501 1,066,834

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 RANK LTD (REGISTERED NUMBER: 10849738)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 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 7 January 2025 and were signed on its behalf by:





S McMullan - Director


RHINO RANK LTD (REGISTERED NUMBER: 10849738)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Rhino Rank Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10849738

Registered office: The Matlings
59 Lythwood Road
Bayston Hill
Shrewsbury
Shropshire
SY3 0NA

The principal activity of the company is that of a white label digital marketing company.

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 financial statements are prepared in sterling, which is the functional currency of the entity.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as described below.

As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

Similarly, amortisation of the intangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods. The directors have reviewed the expected useful life and have estimated that the remaining life is five years and the change in estimate has been applied prospectively from 1 August 2021.

RHINO RANK LTD (REGISTERED NUMBER: 10849738)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% reducing balance

RHINO RANK LTD (REGISTERED NUMBER: 10849738)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 statement of financial position date.


RHINO RANK LTD (REGISTERED NUMBER: 10849738)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 August 2023
and 31 July 2024 3,949,331
AMORTISATION
At 1 August 2023 1,931,179
Amortisation for year 755,871
At 31 July 2024 2,687,050
NET BOOK VALUE
At 31 July 2024 1,262,281
At 31 July 2023 2,018,152

RHINO RANK LTD (REGISTERED NUMBER: 10849738)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2023 73,103 412,814 212,995 698,912
Additions 4,632 157,849 31,276 193,757
Disposals - (213,338 ) - (213,338 )
At 31 July 2024 77,735 357,325 244,271 679,331
DEPRECIATION
At 1 August 2023 48,406 127,555 132,745 308,706
Charge for year 7,332 91,315 27,882 126,529
Eliminated on disposal - (58,989 ) - (58,989 )
At 31 July 2024 55,738 159,881 160,627 376,246
NET BOOK VALUE
At 31 July 2024 21,997 197,444 83,644 303,085
At 31 July 2023 24,697 285,259 80,250 390,206

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 7,963 -
Other debtors 118,100 118,486
Directors' current accounts 23,679 5,906
Prepayments and accrued income 10,623 3,855
160,365 128,247

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 4,275 20,637
Amounts owed to group undertakings 1,135,404 1,503,238
Tax 105,882 78,329
Social security and other taxes 17,555 9,649
VAT 39,375 34,724
Other creditors 11,341 7,185
Directors' current accounts 7 -
Accruals and deferred income 2,833 -
1,316,672 1,653,762

RHINO RANK LTD (REGISTERED NUMBER: 10849738)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
S McMullan
Balance outstanding at start of year 3,290 -
Amounts advanced - 8,000
Amounts repaid (3,297 ) (4,710 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (7 ) 3,290

M Carey
Balance outstanding at start of year 2,616 (674 )
Amounts advanced 50,000 122,995
Amounts repaid (28,937 ) (119,705 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 23,679 2,616

By virtue of the overdrawn loan accounts, a liability to taxation exists under section 455 of CTA 2010 in the sum of £7,991 which will be repaid or discharged when the loans are repaid. The loans were repaid within 9 months of the year end and as such, no taxation has been provided for.

9. EVENTS AFTER THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the Board.

10. ULTIMATE CONTROLLING PARTY

The ultimate parent company is SMMC Holdings Limited, a company incorporated in England and Wales.