REGISTERED NUMBER: 10912722 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

RHINO SITE SYSTEMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P J Andrews

S Handler

S D Lawrence

Ms J Mcpherson

REGISTERED OFFICE:

Maritime Road

Llewellyns Quay

Port Talbot

SA13 1RF

REGISTERED NUMBER:

10912722 (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

FIXED ASSETS

Tangible assets

4

39,148

2,631

CURRENT ASSETS

Stocks

124,025

75,058

Debtors

5

249,160

122,218

Cash at bank

575

23,839

373,760

221,115

CREDITORS

Amounts falling due within one year

6

708,908

581,074

NET CURRENT LIABILITIES

(335,148

)

(359,959

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(296,000

)

(357,328

)

CREDITORS

Amounts falling due after more than one year

7

24,932

-

NET LIABILITIES

(320,932

)

(357,328

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(320,933

)

(357,329

)

(320,932

)

(357,328

)

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 20 November 2025 and were signed on its behalf by:

P J Andrews - Director

1.	STATUTORY INFORMATION

Rhino Site Systems 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 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.

The company has reported a trading profit of £36,396 (2024 - Loss £164,548) and net liabilities of £320,932 (2024 - £357,328).

Whilst the company has net liabilities as at 31 March 2025, current forecasts indicate a profit for 2025/2026.

The company remains reliant on the support of it's fellow subsidiary, Rhino Systems Limited, and parent company Rhino Engineering Group Limited, who have indicated their ongoing support, subject to normal commercial considerations.

On the basis of the above, the directors believe it is appropriate to adopt the going concern basis in preparation of the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable 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.

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.

Plant and equipment

-

33% on cost

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

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.

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.

Financial instruments

The company 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 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

8,678

Additions

48,334

At 31 March 2025

57,012

DEPRECIATION

At 1 April 2024

6,047

Charge for year

11,817

At 31 March 2025

17,864

NET BOOK VALUE

At 31 March 2025

39,148

At 31 March 2024

2,631

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

84,892

36,354

Other debtors

164,268

85,864

249,160

122,218

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

8,086

-

Trade creditors

71,501

47,614

Amounts owed to group undertakings

565,702

502,735

Taxation and social security

29,854

17,304

Other creditors

33,765

13,421

708,908

581,074

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

24,932

-

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Fairhurst (Senior Statutory Auditor)

for and on behalf of Fairhurst Audit Services Ltd

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is deemed to be the shareholders of Rhino Engineering Group Limited.

11.	ULTIMATE PARENT COMPANY

The ultimate parent company is Rhino Engineering Group Limited, a company registered in England and Wales, which prepares group financial statements. Copies can be obtained from 459-460 Carr Place, Walton Summit, Bamber Bridge, Lancashire, PR5 8AU.

12.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The pension cost for the year represents contributions payable by the company to the fund and amounted to £57,410 (2024 - £54,329). As at the year end there were £13,566 (2024 - £7,221) of contributions outstanding.