Rhino Lifting Limited - Accounts to registrar (filleted) - small 17.3
Rhino Lifting Limited - Accounts to registrar (filleted) - small 17.3
REGISTERED NUMBER: |
RHINO LIFTING LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2017 |
RHINO LIFTING LIMITED (REGISTERED NUMBER: 08310973) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
RHINO LIFTING LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2017 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Elfed House |
Oak Tree Court |
Cardiff Gate Business Park |
CARDIFF |
County of Cardiff |
CF23 8RS |
RHINO LIFTING LIMITED (REGISTERED NUMBER: 08310973) |
BALANCE SHEET |
31 JULY 2017 |
2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
The financial statements were approved for issue by the director on |
RHINO LIFTING LIMITED (REGISTERED NUMBER: 08310973) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2017 |
1. | STATUTORY INFORMATION |
Rhino Lifting Limited is a |
registered number and registered office address can be found on the Company Information page. |
The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to |
the nearest pound. |
The significant accounting policies applied in the presentation of these financial statements are set out below. |
These policies have been consistently applied to all years presented unless otherwise stated. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements for the year ended 31 July 2017 are the first financial statements that comply with |
Financial Reporting Standard 102 1A. The date of transition is 1 August 2015. |
There have been no material departures from Financial Reporting Standard 102 1A. |
The transition to Financial Reporting Standard 102 1A has resulted in no changes to existing accounting policies |
which can be seen in the following notes. |
Turnover |
Turnover represents amounts invoiced during the year in respect of supplying, hiring, testing and manufacturing |
of steel wire, rope slings and general lifting equipment, exclusive of Value Added Tax. |
Tangible fixed assets |
Website development | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, |
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. |
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. |
RHINO LIFTING LIMITED (REGISTERED NUMBER: 08310973) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2017 |
2. | ACCOUNTING POLICIES - continued |
Non-derivative financial instruments |
Non-derivative financial instruments comprise of trade and other debtors, cash and cash equivalents, trade and |
other creditors and interest free loans. |
Unless otherwise stated, the carrying value of the company's financial assets and liabilities are a reasonable |
approximation of their fair values. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Cash and cash equivalents |
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand. |
3. | TANGIBLE FIXED ASSETS |
Website |
development |
£ |
COST |
Additions |
At 31 July 2017 |
DEPRECIATION |
Charge for year |
At 31 July 2017 |
NET BOOK VALUE |
At 31 July 2017 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
VAT | 5,335 | - |
Accruals and deferred income |
6. | RELATED PARTY DISCLOSURES |
During the year a dividend of £20,000 (2017 £13,596) was paid to the director. |