Rhino Rugby Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02243122 (England and Wales)

RHINO RUGBY LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

Page

Company Information

1

Chartered Certified Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTORS:

R B Clark

N J Bray

A J Locke

A J Colquitt

SECRETARY:

Gordons Nominee Secretaries Limited

REGISTERED OFFICE:

22 Great James Street

London

WC1N 3ES

REGISTERED NUMBER:

02243122 (England and Wales)

ACCOUNTANTS:

Poole Resources

Chartered Certified Accountants

95 High Street

Street

Somerset

BA16 0EZ

BANKERS:

HSBC Bank plc

1 Middle Street

Yeovil

Somerset

BA20 1LR

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages three to six) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Rhino Rugby Limited for the year ended 31 March 2016 which comprise

the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records

and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Rhino Rugby Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rhino Rugby Limited and state those matters that we have agreed to state to the Board of Directors of Rhino Rugby Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Rhino Rugby Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Rhino Rugby Limited. You consider that Rhino Rugby Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Rhino Rugby Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Poole Resources

Chartered Certified Accountants

95 High Street

Street

Somerset

BA16 0EZ

Date: 16 December 2016

FIXED ASSETS

Tangible assets

2

8,349

7,296

CURRENT ASSETS

Stocks

163,502

207,713

Debtors

3

125,982

105,677

Cash at bank and in hand

8,524

20,237

298,008

333,627

CREDITORS

Amounts falling due within one year

194,406

193,610

NET CURRENT ASSETS

103,602

140,017

TOTAL ASSETS LESS CURRENT
LIABILITIES

111,951

147,313

CREDITORS

Amounts falling due after more than one
year

378,185

390,399

NET LIABILITIES

(266,234

)

(243,086

)

CAPITAL AND RESERVES

Called up share capital

4

46,475

Share premium

142,525

Profit and loss account

(455,234

)

(432,086

)

SHAREHOLDERS' FUNDS

(266,234

)

(243,086

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 15 December 2016 and were signed on
its behalf by:

A J Locke - Director

R B Clark - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company

qualifies as a small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of

service contracts where turnover is recognised when the company obtains the right to consideration.

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 costs

-

33% on cost

Plant and equipment

-

20% on reducing balance

Office and computer equipment

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

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 the profit and loss account in the period to which they

relate.

Going concern

Although the financial statements show an excess of liabilities over assets, they have been prepared

on the going concern basis which assumes that the company will continue in operation for the

foreseeable future as the parent company has confirmed that it will continue to support the company

as is necessary to ensure that its liabilities are met as and when they fall due.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

27,140

Additions

2,829

At 31 March 2016

29,969

DEPRECIATION

At 1 April 2015

19,844

Charge for year

1,776

At 31 March 2016

21,620

NET BOOK VALUE

At 31 March 2016

8,349

At 31 March 2015

7,296

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 0 (31.3.15 - £ 2,757 )

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

464,750

Ordinary

10p

46,475

5.	ULTIMATE PARENT COMPANY

Rhino-Powa Holdings Limited is regarded by the directors as being the company's ultimate parent

company.

The parent company was incorporated in England and Wales under registration number 09311795 and

its registered office address is 22 Great James Street, London, WC1N 3ES.

Rhino-Powa Holdings Limited acquired the entire share capital of Rhino Sport & Leisure Limited on

30 March 2015.