Rhino Enterprises Limited

Contents

Statement of financial position	1
Notes to the Unaudited Financial Statements	2 to 6

Rhino Enterprises Limited

(Registration number: 02549545)
Statement of financial position as at 31 July 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	48,264	62,584
Current assets
Debtors	5	6,076,484	6,409,737
Cash at bank and in hand		70,115	28,862
		6,146,599	6,438,599
Creditors: Amounts falling due within one year	6	(9,120,818)	(8,608,747)
Net current liabilities		(2,974,219)	(2,170,148)
Total assets less current liabilities		(2,925,955)	(2,107,564)
Creditors: Amounts falling due after more than one year	6	(25,545)	(37,435)
Net liabilities		(2,951,500)	(2,144,999)
Capital and reserves
Called up share capital		800	800
Share premium reserve		100,200	100,200
Retained earnings		(3,052,500)	(2,245,999)
Shareholders' deficit		(2,951,500)	(2,144,999)

For the financial year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 26 November 2025 and signed on its behalf by:
 

......................................... Mr R N J Schofield Director

Rhino Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Regent Buildings
Regent Street
Leeds
LS2 7QA

These financial statements were authorised for issue by the Board on 26 November 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Rhino Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Asset class	Depreciation method and rate
Land and buildings	4% straight line
Furniture, fittings and equipment	33% reducing balance
Motor vehicles	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2024 - 12).

Rhino Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 August 2024	47,447	466,286	96,778	610,511
At 31 July 2025	47,447	466,286	96,778	610,511
Depreciation
At 1 August 2024	33,555	461,797	52,575	547,927
Charge for the year	1,896	1,372	11,052	14,320
At 31 July 2025	35,451	463,169	63,627	562,247
Carrying amount
At 31 July 2025	11,996	3,117	33,151	48,264
At 31 July 2024	13,892	4,489	44,203	62,584

Included within the net book value of land and buildings above is £11,996 (2024 - £13,892) in respect of long leasehold land and buildings.
 

5

Debtors

Current	Note	2025 £	2024 £
Trade debtors		72,739	61,637
Amounts owed by group undertakings	8	5,521,310	6,003,366
Prepayments		224,282	336,581
Other debtors		258,153	8,153
		6,076,484	6,409,737

Rhino Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	7	15,173	18,456
Trade creditors		103,624	102,091
Amounts owed to group undertakings	8	8,095,978	7,728,827
Taxation and social security		21,471	18,870
Accruals and deferred income		51,966	55,399
Other creditors		832,606	685,104
		9,120,818	8,608,747

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	7	25,545	37,435

7	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	834	10,833
Hire purchase contracts	24,711	26,602
	25,545	37,435

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	10,000	10,000
Hire purchase contracts	5,173	8,456
	15,173	18,456

Rhino Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

8	Related party transactions

Summary of transactions with parent

At the year end the company owed its parent company, Rhino Enterprises Holdings Limited £645,514 (2024 £646,729). No interest has been charged on this balance.
 

Summary of transactions with all entities with joint control or significant interest

At the year end the company was owed £5,521,310 (2024 £6,003,366) from associated companies under common control. No interest has been charged on this balance.

At the year end the company owed £7,450,464 (2024 £7,082,098) to Rhino Enterprises Properties Limited, a subsidiary wholly owned by parent company Rhino Enterprises Holding Limited.

9	Parent and ultimate parent undertaking

The company's ultimate parent is Rhino Enterprises Holdings Limited, incorporated in England and Wales.