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REGISTERED NUMBER: 11664117 (England and Wales)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 January 2022

for

High Grade Hydroponics Ltd

High Grade Hydroponics Ltd (Registered number: 11664117)






Contents of the Financial Statements
for the Year Ended 31 January 2022




Page

Company Information 1

Report of the Director 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


High Grade Hydroponics Ltd

Company Information
for the Year Ended 31 January 2022







DIRECTOR: S Lofthouse-Hill





SECRETARY: S Lofthouse-Hill





REGISTERED OFFICE: Unit F10-F11
Morton Park Way
Darlington
DL1 4PQ





REGISTERED NUMBER: 11664117 (England and Wales)





ACCOUNTANTS: S & Z Consultants Ltd
8 Hallgarth Court
Newsham
Richmond
DL11 7RN

High Grade Hydroponics Ltd (Registered number: 11664117)

Report of the Director
for the Year Ended 31 January 2022

The director presents his report with the financial statements of the company for the year ended 31 January 2022.

DIRECTOR
S Lofthouse-Hill held office during the whole of the period from 1 February 2021 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S Lofthouse-Hill - Director


2 September 2022

High Grade Hydroponics Ltd (Registered number: 11664117)

Abridged Balance Sheet
31 January 2022

31.1.22 31.1.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,344 27,276

CURRENT ASSETS
Stocks 207,035 166,677
Debtors 5 4,000 4,969
Cash at bank and in hand 13,081 7,314
224,116 178,960
CREDITORS
Amounts falling due within one year 76,543 101,859
NET CURRENT ASSETS 147,573 77,101
TOTAL ASSETS LESS CURRENT
LIABILITIES

175,917

104,377

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 175,817 104,277
SHAREHOLDERS' FUNDS 175,917 104,377

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 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.

High Grade Hydroponics Ltd (Registered number: 11664117)

Abridged Balance Sheet - continued
31 January 2022


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 September 2022 and were signed by:





S Lofthouse-Hill - Director


High Grade Hydroponics Ltd (Registered number: 11664117)

Notes to the Financial Statements
for the Year Ended 31 January 2022

1. STATUTORY INFORMATION

High Grade Hydroponics 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - 3 ).

High Grade Hydroponics Ltd (Registered number: 11664117)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2022

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2021 36,802
Additions 10,681
At 31 January 2022 47,483
DEPRECIATION
At 1 February 2021 9,526
Charge for year 9,613
At 31 January 2022 19,139
NET BOOK VALUE
At 31 January 2022 28,344
At 31 January 2021 27,276

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.22 31.1.21
£    £   
Other debtors 4,000 4,000

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.22 31.1.21
£    £   
Within one year 20,931 11,633
Between one and five years 54,071 53,316
75,002 64,949

The Leases on the two units are due for renewal on 01/09/2025.

7. RELATED PARTY DISCLOSURES

Other creditors includes a loan from a Director.

S Lofthouse-Hill £

Balance outstanding at 01/02/2021 34,813

Repaid during year 26,960

Balance outstanding at 31/01/2022 7,853


The above loan was interest free and there was no fixed date for repayment.

High Grade Hydroponics Ltd (Registered number: 11664117)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2022

8. ULTIMATE CONTROLLING PARTY

The controlling party is S Lofthouse-Hill.