Rhino Lifting Limited - Accounts to registrar (filleted) - small 17.3

Rhino Lifting Limited - Accounts to registrar (filleted) - small 17.3


IRIS Accounts Production v17.3.1.106 08310973 director 1.8.16 31.7.17 31.7.17 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure083109732016-07-31083109732017-07-31083109732016-08-012017-07-31083109732015-07-31083109732015-08-012016-07-31083109732016-07-3108310973ns15:EnglandWales2016-08-012017-07-3108310973ns14:PoundSterling2016-08-012017-07-3108310973ns10:Director12016-08-012017-07-3108310973ns10:PrivateLimitedCompanyLtd2016-08-012017-07-3108310973ns10:SmallEntities2016-08-012017-07-3108310973ns10:AuditExempt-NoAccountantsReport2016-08-012017-07-3108310973ns10:SmallCompaniesRegimeForDirectorsReport2016-08-012017-07-3108310973ns10:SmallCompaniesRegimeForAccounts2016-08-012017-07-3108310973ns10:FullAccounts2016-08-012017-07-3108310973ns10:RegisteredOffice2016-08-012017-07-3108310973ns5:CurrentFinancialInstruments2017-07-3108310973ns5:CurrentFinancialInstruments2016-07-3108310973ns5:ShareCapital2017-07-3108310973ns5:ShareCapital2016-07-3108310973ns5:RetainedEarningsAccumulatedLosses2017-07-3108310973ns5:RetainedEarningsAccumulatedLosses2016-07-3108310973ns5:ComputerEquipment2016-08-012017-07-3108310973ns5:ComputerEquipment2017-07-3108310973ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-07-3108310973ns5:CurrentFinancialInstrumentsns5:WithinOneYear2016-07-31


REGISTERED NUMBER: 08310973 (England and Wales)















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: S J Hutin





REGISTERED OFFICE: Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
CF23 8RS





REGISTERED NUMBER: 08310973 (England and Wales)





ACCOUNTANTS: Watts Gregory LLP
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 5,508 -

CURRENT ASSETS
Debtors 4 108,080 1
Cash at bank 76,586 158,335
184,666 158,336
CREDITORS
Amounts falling due within one year 5 (181,778 ) (150,971 )
NET CURRENT ASSETS 2,888 7,365
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,396

7,365

PROVISIONS FOR LIABILITIES (131 ) -
NET ASSETS 8,265 7,365

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 8,264 7,364
SHAREHOLDERS' FUNDS 8,265 7,365

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 29 January 2018 and were signed by:





S J Hutin - Director


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 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.

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 have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Website development - 25% on reducing balance

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 5,875
At 31 July 2017 5,875
DEPRECIATION
Charge for year 367
At 31 July 2017 367
NET BOOK VALUE
At 31 July 2017 5,508

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 108,079 -
Amounts owed by group undertakings 1 1
108,080 1

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade creditors 2,781 -
Amounts owed to group undertakings 168,183 150,028
Corporation tax 4,979 443
VAT 5,335 -
Accruals and deferred income 500 500
181,778 150,971

6. RELATED PARTY DISCLOSURES

During the year a dividend of £20,000 (2017 £13,596) was paid to the director.