Registered number
13494588
RHINO CIVILS LIMITED
Filleted Accounts
31 July 2024
RHINO CIVILS LIMITED
Registered number: 13494588
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 258,538 356,777
Current assets
Stocks 294,375 -
Debtors 4 156,092 73,399
Cash at bank and in hand 45,246 119,545
495,713 192,944
Creditors: amounts falling due within one year 5 (191,733) (436,906)
Net current assets/(liabilities) 303,980 (243,962)
Total assets less current liabilities 562,518 112,815
Creditors: amounts falling due after more than one year 6 (336,040) -
Provisions for liabilities (57,576) (24,792)
Net assets 168,902 88,023
Capital and reserves
Called up share capital 2 2
Profit and loss account 168,900 88,021
Shareholders' funds 168,902 88,023
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J. Crofts
Director
Approved by the board on 17 April 2025
RHINO CIVILS LIMITED
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
At the time of approving the financial statements, the directors have assessed the working capital needs of the company and concluded it has adequate resources to continue in operational existence for the foreseeable future and will be able to meet all liabilities as they fall due. The directors have agreed to continue to support the company by providing loans as required. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Plant and machinery
£
Cost
At 1 August 2023 396,952
Additions 216,000
Disposals (333,756)
At 31 July 2024 279,196
Depreciation
At 1 August 2023 40,175
Charge for the year 13,859
On disposals (33,376)
At 31 July 2024 20,658
Net book value
At 31 July 2024 258,538
At 31 July 2023 356,777
4 Debtors 2024 2023
£ £
Trade debtors 138,942 72,823
Other debtors 17,150 576
156,092 73,399
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 35,207 112,093
Obligations under finance lease and hire purchase contracts 32,175 252,192
Trade creditors 116,942 77,104
Directors loan account 4,801 16,910
Taxation and social security costs (19,517) (22,308)
Value Added Tax (7,718) 60
Other creditors 29,843 855
191,733 436,906
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 163,871 -
Obligations under finance lease and hire purchase contracts 172,169 -
336,040 -
7 Loans 2024 2023
£ £
Creditors include:
Hire purchase agreements 204,344 -
Monies owed under hire purchase agreements are secured upon the assets covered by the agreement.
8 Other information
RHINO CIVILS LIMITED is a private company limited by shares and incorporated in England.
Unit 1 Hallam Fields Road
Ilkeston
DE7 4AZ
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