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REGISTERED NUMBER: 06925230 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th June 2023

for

NEW AGE HYDROPONICS LTD

NEW AGE HYDROPONICS LTD (REGISTERED NUMBER: 06925230)






Contents of the Financial Statements
for the Year Ended 30th June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEW AGE HYDROPONICS LTD

Company Information
for the Year Ended 30th June 2023







DIRECTORS: Mr D J Greenall
Ms D M Almond





SECRETARY: Ms D Almond





REGISTERED OFFICE: 41 St Thomas's Road
Chorley
Lancashire
PR71JE





REGISTERED NUMBER: 06925230 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

NEW AGE HYDROPONICS LTD (REGISTERED NUMBER: 06925230)

Balance Sheet
30th June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 289 385

CURRENT ASSETS
Stocks 226,000 263,000
Debtors 5 - 1,690
Cash at bank and in hand 36,839 31,030
262,839 295,720
CREDITORS
Amounts falling due within one year 6 28,036 29,753
NET CURRENT ASSETS 234,803 265,967
TOTAL ASSETS LESS CURRENT
LIABILITIES

235,092

266,352

CREDITORS
Amounts falling due after more than one
year

7

65,000

65,000
NET ASSETS 170,092 201,352

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 169,992 201,252
SHAREHOLDERS' FUNDS 170,092 201,352

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 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.

NEW AGE HYDROPONICS LTD (REGISTERED NUMBER: 06925230)

Balance Sheet - continued
30th June 2023


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 25th September 2023 and were signed on its behalf by:





Ms D M Almond - Director


NEW AGE HYDROPONICS LTD (REGISTERED NUMBER: 06925230)

Notes to the Financial Statements
for the Year Ended 30th June 2023

1. STATUTORY INFORMATION

New Age 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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents amounts received for goods supplied, stated net of discounts and of Value Added Tax.

Revenue is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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.


NEW AGE HYDROPONICS LTD (REGISTERED NUMBER: 06925230)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023

2. ACCOUNTING POLICIES - continued
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.

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 profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments’ of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

The following assets and liabilities are classified as basic financial instruments - trade debtors, trade creditors, directors loans and other loans. These basic instruments are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1st July 2022
and 30th June 2023 9,292
DEPRECIATION
At 1st July 2022 8,907
Charge for year 96
At 30th June 2023 9,003
NET BOOK VALUE
At 30th June 2023 289
At 30th June 2022 385

NEW AGE HYDROPONICS LTD (REGISTERED NUMBER: 06925230)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Other debtors - 1,690

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 5,771 7,833
Social security and other taxes 7,606 9,207
Other creditors 128 75
Directors' current accounts 12,430 10,385
Accrued expenses 2,101 2,253
28,036 29,753

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Directors' current accounts 65,000 65,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
100 Ordinary £1 100 100

9. RELATED PARTY DISCLOSURES

As at 30th June 2023, the company owed £77,430 (2022: £75,385) to its directors. No interest has been charged to the company in respect of this loan and while there is no formal repayment date, £65,000 (2022: £65,000) has been classified as repayable in more than 1 year.

10. ULTIMATE CONTROLLING PARTY

Throughout the current period, Ms D Almond has controlled the company by virtue of holding 100% of the issued ordinary share capital.