Company registration number 03206731 (England and Wales)
RHINO AUTOMOTIVE LTD
FORMALLY KNOWN AS RHINO DESIGN (MANCHESTER) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
RHINO AUTOMOTIVE LTD
FORMALLY KNOWN AS RHINO DESIGN (MANCHESTER) LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
RHINO AUTOMOTIVE LTD
FORMALLY KNOWN AS RHINO DESIGN (MANCHESTER) LTD
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
125
Tangible assets
4
254,389
362,853
254,389
362,978
Current assets
Stocks
30,578
17,046
Debtors
5
2,032,637
1,704,157
Cash at bank and in hand
720,761
383,535
2,783,976
2,104,738
Creditors: amounts falling due within one year
6
(1,306,685)
(970,478)
Net current assets
1,477,291
1,134,260
Total assets less current liabilities
1,731,680
1,497,238
Creditors: amounts falling due after more than one year
7
(124,754)
(214,486)
Provisions for liabilities
(12,702)
(22,636)
Net assets
1,594,224
1,260,116
Capital and reserves
Called up share capital
16,500
16,500
Other reserves
500
500
Profit and loss reserves
1,577,224
1,243,116
Total equity
1,594,224
1,260,116
RHINO AUTOMOTIVE LTD
FORMALLY KNOWN AS RHINO DESIGN (MANCHESTER) LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2025
31 December 2025
- 2 -

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

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 12 May 2026 and are signed on its behalf by:
Mr D Stevenson
Director
Company registration number 03206731 (England and Wales)
RHINO AUTOMOTIVE LTD
FORMALLY KNOWN AS RHINO DESIGN (MANCHESTER) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

Rhino Automotive Ltd. 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.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover comprises the fair value of the consideration received or receivable for the 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.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

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
Amortised evenly over their estimated useful life of nil years
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

RHINO AUTOMOTIVE LTD
FORMALLY KNOWN AS RHINO DESIGN (MANCHESTER) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -

Depreciation 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:

Motor vehicles
20% on cost
Computer Equipment
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

RHINO AUTOMOTIVE LTD
FORMALLY KNOWN AS RHINO DESIGN (MANCHESTER) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
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.

RHINO AUTOMOTIVE LTD
FORMALLY KNOWN AS RHINO DESIGN (MANCHESTER) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 6 -
1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases
As lessee

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 lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
46
49
3
Intangible fixed assets
Development Cost
£
Cost
At 1 January 2025 and 31 December 2025
83,837
Amortisation and impairment
At 1 January 2025
83,712
Amortisation charged for the year
125
At 31 December 2025
83,837
Carrying amount
At 31 December 2025
-
0
At 31 December 2024
125
RHINO AUTOMOTIVE LTD
FORMALLY KNOWN AS RHINO DESIGN (MANCHESTER) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
4
Tangible fixed assets
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2025
178,567
64,723
406,353
649,643
Additions
16,014
25,528
110,535
152,077
Disposals
(1,682)
-
0
(159,105)
(160,787)
Transfers
(18,518)
18,518
-
0
-
0
At 31 December 2025
174,381
108,769
357,783
640,933
Depreciation and impairment
At 1 January 2025
113,863
41,874
131,055
286,792
Depreciation charged in the year
24,782
34,090
89,235
148,107
Eliminated in respect of disposals
(730)
-
0
(47,623)
(48,353)
Transfers
3,749
(3,749)
-
0
-
0
At 31 December 2025
141,664
72,215
172,666
386,544
Carrying amount
At 31 December 2025
32,717
36,554
185,117
254,389
At 31 December 2024
64,704
22,850
275,298
362,851

At the balance sheet date assets with a carrying value of £14,769 were re-classified from fixtures and fittings to computer equipment as shown above.

Included within the net book value of tangible fixed assets above is £144,839 (2024: £201,248) in respect of assets held under hire purchase contracts. Depreciation for the year on these assets was £56,409 (2024: £56,409).

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
751,741
435,635
Other debtors
28,674
23,907
Prepayments and accrued income
114,155
78,873
894,570
538,415
2025
2024
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
1,138,067
1,165,742
Total debtors
2,032,637
1,704,157
RHINO AUTOMOTIVE LTD
FORMALLY KNOWN AS RHINO DESIGN (MANCHESTER) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
-
0
41,667
Trade creditors
233,068
201,533
Taxation and social security
444,030
540,267
Other creditors
629,587
187,011
1,306,685
970,478
7
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
124,754
214,486
8
Related party transactions

At the balance sheet date the amount due from related parties was £1,138,067 (2024: £1,165,742). This amount is interest free and repayable in 1 year and 1 day on a rolling basis.

9
Controlling party

The company is controlled by RGML Limited, by virtue of the company's articles.

10
Prior period adjustment

During the year, the directors identified that the balance on the Capital Redemption Reserve included a debit balance of £30,000, which does not meet the definition of a non-distributable reserve under the requirements of the Companies Act 2006 and FRS 102 Section 1A.

Accordingly, a prior period adjustment has been made to reclassify the negative balance of £30,000 from the Capital Redemption Reserve to Retained Earnings. The adjustment has been reflected in the comparative figures.

This adjustment has had no impact on the company’s profit or loss for the current or prior year.

Changes to the balance sheet
Adjustment
£
Net assets
-
Capital and reserves
Other reserves
30,000
Profit and loss reserves
(30,000)
Total equity
-
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