In this paper we characterize non-collapsed limits of Ricci flows. We show that such limits are smooth away from a set of codimension $geq 4$ in the parabolic sense and that the tangent flows at every point are given by gradient shrinking solitons, possibly with a singular set of codimension $geq 4$. We furthermore obtain a stratification result of the singular set with optimal dimensional bounds, which depend on the symmetries of the tangent flows. Our methods also imply the corresponding quantitative stratification result and the expected $L^p$-curvature bounds. As an application of our theory, we obtain a description of the singularity formation of a Ricci flow at its first singular time and a thick-thin decomposition characterizing the long-time behavior of immortal flows. These results generalize Perelmans results in dimension 3 to higher dimensions. We also obtain a Backwards Pseudolocality Theorem and discuss several other applications.