REGISTERED NUMBER: 09501929 (England and Wales)

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

RHINO ENGINEERING GROUP LIMITED

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

3

Consolidated Statement of Income and Retained Earnings

7

Consolidated Balance Sheet

8

Company Balance Sheet

9

Notes to the Consolidated Financial Statements

10

DIRECTORS:

S Ghosh

S J Hay

S D Lawrence

SECRETARY:

S Handler

REGISTERED OFFICE:

459-460 Carr Place

Walton Summit

Bamber Bridge

Lancashire

PR5 8AU

REGISTERED NUMBER:

09501929 (England and Wales)

AUDITORS:

Fairhurst Audit Services Ltd

Statutory Auditor

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

BANKERS:

Natwest Bank Plc

Chatham Customer Service Centre

Western Avenue

Waterside Court

Chatham Marine

Kent

ME4 4RT

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of the manufacture, installation and servicing of specialised security doors and gates.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

S Ghosh

S J Hay

S D Lawrence

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

S Handler - Secretary

20 November 2025

Opinion

We have audited the financial statements of Rhino Engineering Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2025 and of the group's profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Group Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- we identified the laws and regulations applicable to the company through discussions with directors and other

management, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on it's operations. Key laws and regulations that we identified included the UK Companies Act, tax legislation,

employment legislation and Health and Safety regulations.

- we enquired of the directors and reviewed correspondence with HMRC for evidence of non-compliance with laws and regulations. We also reviewed controls the directors have in place to ensure compliance.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of

actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of

potential bias.

- we reviewed financial statements disclosures and tested to supporting documentation to assess compliance with

relevant laws and regulations discussed above;

- we enquired of the directors about actual and potential litigation and claims.

Due to inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material

misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

John Fairhurst (Senior Statutory Auditor)

for and on behalf of Fairhurst Audit Services Ltd

Statutory Auditor

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

20 November 2025

TURNOVER

6,656,807

4,862,383

Cost of sales

3,829,235

2,792,117

GROSS PROFIT

2,827,572

2,070,266

Distribution costs

35,859

36,640

Administrative expenses

2,415,763

2,206,822

2,451,622

2,243,462

375,950

(173,196

)

Other operating income

11,101

19,393

OPERATING PROFIT/(LOSS)

4

387,051

(153,803

)

Interest receivable and similar income

-

67

387,051

(153,736

)

Interest payable and similar expenses

35,138

29,130

PROFIT/(LOSS) BEFORE TAXATION

351,913

(182,866

)

Tax on profit/(loss)

5

55,572

56,353

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

296,341

(239,219

)

Retained earnings at beginning of year

(265,507

)

(26,288

)

RETAINED EARNINGS FOR THE GROUP AT END OF YEAR

30,834

(265,507

)

Profit/(loss) attributable to:

Owners of the parent

296,341

(239,219

)

FIXED ASSETS

Intangible assets

7

585,834

708,204

Tangible assets

8

224,254

229,139

Investments

9

-

-

810,088

937,343

CURRENT ASSETS

Stocks

10

389,717

258,607

Debtors

11

2,420,999

1,547,063

Cash at bank and in hand

30,453

182,584

2,841,169

1,988,254

CREDITORS

Amounts falling due within one year

12

1,623,746

1,149,771

NET CURRENT ASSETS

1,217,423

838,483

TOTAL ASSETS LESS CURRENT LIABILITIES

2,027,511

1,775,826

CREDITORS

Amounts falling due after more than one year

13

(404,733

)

(504,961

)

PROVISIONS FOR LIABILITIES

(55,572

)

-

NET ASSETS

1,567,206

1,270,865

CAPITAL AND RESERVES

Called up share capital

21,373

21,373

Share premium

1,514,999

1,514,999

Retained earnings

30,834

(265,507

)

1,567,206

1,270,865

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

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2025 and were signed on its behalf by:

S D Lawrence - Director

FIXED ASSETS

Intangible assets

7

-

-

Tangible assets

8

17,553

14,646

Investments

9

800,102

800,102

817,655

814,748

CURRENT ASSETS

Debtors

11

234,847

162,335

Cash at bank

1,450

5,169

236,297

167,504

CREDITORS

Amounts falling due within one year

12

288,579

210,459

NET CURRENT LIABILITIES

(52,282

)

(42,955

)

TOTAL ASSETS LESS CURRENT LIABILITIES

765,373

771,793

CREDITORS

Amounts falling due after more than one year

13

23,313

23,313

NET ASSETS

742,060

748,480

CAPITAL AND RESERVES

Called up share capital

21,373

21,373

Share premium

1,514,999

1,514,999

Retained earnings

(794,312

)

(787,892

)

742,060

748,480

Company's loss for the financial year

(6,420

)

(31,221

)

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

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2025 and were signed on its behalf by:

S D Lawrence - Director

1.	STATUTORY INFORMATION

Rhino Engineering Group Limited 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 General 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.

Basis of consolidation

The group financial statements consolidate the financial statements of Rhino Engineering Group Limited and its subsidiary undertakings for the year to 31 March 2025 using the acquisition method. The results of subsidiary undertakings are included from the date of acquisition.

The parent company acts as a holding company for it's subsidiaries; Rhino Systems Limited, Rhino Site Systems Limited and Rhino Hysafe Limited.

Profits arising from intra-group transactions are eliminated in full. On acquisition of a subsidiary it's assets and liabilities at the date of acquisition are recorded at their fair value reflecting their condition at that date.

The consolidated financial statements include the results of the activities described in the Report of the Directors, al of which are continuing.

Rhino Hysafe Limited is exempt from the requirements of the Companies Act relating to the audit of their accounts by virtue of section 479a Companies Act 2006.

The company has taken advantage of the exemption given in section 408 of the Companies Act 2006 not to produce its own profit and loss account.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

Useful economic lives

The useful economic lives of tangible fixed assets are assessed on an annual basis on the latest available information. Management believe that the useful economic lives being used currently are still appropriate.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts due for the stage of completion of engineering contracts and services rendered, stated net of discounts and of Value Added Tax.

When the outcome of a transaction involving the completion of contracts or rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Goodwill

Goodwill represents the excess of the cost of acquisition of businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Development costs

Development costs are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development costs - 10% straight line

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation and impairment. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

20% straight line

Leasehold land and buildings

-

20% straight line

Plant and equipment

-

6.6% and 33% straight line

Computer equipment

-

33% straight line

Motor vehicles

-

33% straight line

Fixtures and fittings

-

33% straight line

Impairment of assets

At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Government grants

The company recognises capital grants based on the accruals model. This relates to revenue being recognised in income on a systematic basis over the expected useful life of the asset. If part of the grant relating to an asset is deferred it shall be recognised as deferred income and not deducted from the carrying amount of the asset.

Investments in subsidiaries

The consolidated financial statements incorporate the financial statements of the company and entities controlled by the group (it's subsidiaries) using accounting policies consistent with these in the parent. All intra group transactions, balances, income and expenses are eliminated in full on consolidation.

Investments in subsidiaries are accounted for at cost less impairment in the individual financial statements.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

The group only holds basic financial instruments, as defined under Section 11 of FRS 102.

Trade, other debtors and directors loans are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Short term financial liabilities, including trade and other creditors, overdrafts and related party loans, are

measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due, those payable after one year should be measured at amortised cost, using the effective interest rate method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The Interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits

Long term contracts

Where the outcome of a engineering contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable. Full provision is made for losses on all contracts in the year in which they are foreseen.

Where the outcome of a engineering contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period.The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions to the group's pension scheme are charged to the profit and loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2024 - 50 ) .

4.	OPERATING PROFIT/(LOSS)

The operating profit (2024 - operating loss) is stated after charging:

2025

2024

£

£

Depreciation - owned assets

85,038

67,926

Depreciation - assets on finance leases

13,165

27,342

Goodwill amortisation

13,325

13,325

Development costs amortisation

121,570

44,737

Auditors' remuneration

26,750

17,000

Auditors' remuneration for non audit work

4,750

5,250

5.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Deferred tax

55,572

56,353

Tax on profit/(loss)

55,572

56,353

6.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

7.	INTANGIBLE FIXED ASSETS

Group

Development

Goodwill

costs

Totals

£

£

£

COST

At 1 April 2024

133,250

805,261

938,511

Additions

-

12,525

12,525

At 31 March 2025

133,250

817,786

951,036

AMORTISATION

At 1 April 2024

113,891

116,416

230,307

Amortisation for year

13,325

121,570

134,895

At 31 March 2025

127,216

237,986

365,202

NET BOOK VALUE

At 31 March 2025

6,034

579,800

585,834

At 31 March 2024

19,359

688,845

708,204

8.	TANGIBLE FIXED ASSETS

Group

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

18,759

671,959

690,718

Additions

-

93,318

93,318

At 31 March 2025

18,759

765,277

784,036

DEPRECIATION

At 1 April 2024

8,551

453,028

461,579

Charge for year

5,438

92,765

98,203

At 31 March 2025

13,989

545,793

559,782

NET BOOK VALUE

At 31 March 2025

4,770

219,484

224,254

At 31 March 2024

10,208

218,931

229,139

The net book value of tangible fixed assets includes £45,022 (2024 - £85,951) in respect of assets held under finance lease obligations.

Company

Plant and

machinery

etc

£

COST

At 1 April 2024

23,011

Additions

9,678

At 31 March 2025

32,689

DEPRECIATION

At 1 April 2024

8,365

Charge for year

6,771

At 31 March 2025

15,136

NET BOOK VALUE

At 31 March 2025

17,553

At 31 March 2024

14,646

9.	FIXED ASSET INVESTMENTS

Company

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

800,102

NET BOOK VALUE

At 31 March 2025

800,102

At 31 March 2024

800,102

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

%

Direct/Indirect

Subsidiary

Principal activity

Holding

Holding

Rhino Systems Limited

Manufacture and installation of specialised security doors and gates

100%

Direct

Rhino Site Systems Limited

Servicing security doors

100%

Direct

Rhino Hysafe Limited

Design of explosion relief panels

100%

Direct

10.

STOCKS

Group

2025

2024

£

£

Raw materials

389,717

258,607

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

2025

2024

2025

2024

£

£

£

£

Trade debtors

760,019

524,192

-

-

Amounts owed by group undertakings

-

-

190,880

140,930

Amounts recoverable on contract

1,233,123

668,123

-

-

Other debtors

293,100

233,529

12,402

11,405

Prepayments and accrued income

134,757

121,219

31,565

10,000

2,420,999

1,547,063

234,847

162,335