Topgrow Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Topgrow Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01549815 . The registered office is Kilernan, 2 Selling Court, Selling, Faversham, Kent, ME13 9RJ.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2. Statement of Compliance

The financial statements have been prepared in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

3. Accounting Policies

3.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

3.2. Going Concern Disclosure

The financial statements are prepared on a going concern basis and there are no material uncertainties that cast significant doubt on the Company’s ability to continue as a going concern.

3.3. Significant judgements and estimations

No judgements have been made in the process of applying the accounting policies that have had a significant effect on the amounts recognised in the financial statements.

No key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been made.

3.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

3.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	10% on cost
Motor Vehicles	25% on cost
Computer Equipment	25% on cost

3.6. Investment Properties

All investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. Changes in fair value are recognised in profit or loss.

3.7. Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

3.8. Cash and Cash Equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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Topgrow Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

3.9. Interest Receivable

Interest income is recognosed in profit or loss using the effective interest method.

3.10. Foreign Currencies

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

3.11. Taxation

The tax expense for the period comprises current tax and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

3.12. Provisions and Contingencies

Provisions

Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.

3.13. 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 administrative expenses.

4. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 3)

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost or Valuation
As at 1 June 2024	7,894	18,550	3,156	29,600
Additions	-	-	250	250

As at 31 May 2025	7,894	18,550	3,406	29,850

...CONTINUED

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Topgrow Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

Depreciation
As at 1 June 2024	7,353	18,549	2,536	28,438
Provided during the period	190	-	316	506

As at 31 May 2025	7,543	18,549	2,852	28,944

Net Book Value
As at 31 May 2025	351	1	554	906

As at 1 June 2024	541	1	620	1,162

6. Investment Property

	2025
	£
Fair Value
As at 1 June 2024	2,640,000
Disposals	(225,000 )
Revaluations	-
Fair value adjustments	500,000

As at 31 May 2025	2,915,000

There has been no valuation of investment property by an independent valuer.

If investment property had not been revalued it would have been included at the historical cost of £1,495,911 at the year end.

If properties were sold at the stated market value, corporation tax of £387,530 would be payable.

7. Investments

	Listed
	£
Cost
As at 1 June 2024	234,335
Additions	1,857
Fair value adjustments	16,132

As at 31 May 2025	252,324

Provision
As at 1 June 2024	-

As at 31 May 2025	-

Net Book Value
As at 31 May 2025	252,324

As at 1 June 2024	234,335

If listed investments had not been revalued they would have been included at the historical cost of £69,828 (2024: £67,970).

Listed investments were valued on an open market basis on 31 May 2025 by stockbrokers.

If investments were sold of the stated market value, corporation tax of £4,010 would be payable.

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Topgrow Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

8. Debtors

	2025	2024
	£	£
Due within one year
Prepayments and accrued income	3,748	2,149
Other debtors	267	266

	4,015	2,415

9. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Other loans	300,000	300,000
Corporation tax	38,496	9,212
Other taxes and social security	1,920	1,610
Rent deposits held	6,775	7,720
Tesco Credit Card	2,505	2,627
Accruals and deferred income	3,724	3,588
Directors' loan accounts	351,337	410,585

	704,757	735,342

10. Loans

An analysis of the maturity of loans is given below:

	2025	2024
	£	£
Amounts falling due within one year or on demand:
Other loans	300,000	300,000

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	10,000	10,000

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		906		1,162
Investment Properties	6		2,915,000		2,640,000
Investments	7		252,324		234,335

			3,168,230		2,875,497
CURRENT ASSETS
Debtors	8	4,015		2,415
Cash at bank and in hand		177,360		71,422

		181,375		73,837
Creditors: Amounts Falling Due Within One Year	9	(704,757 )		(735,342 )

NET CURRENT ASSETS (LIABILITIES)			(523,382 )		(661,505 )

TOTAL ASSETS LESS CURRENT LIABILITIES			2,644,848		2,213,992

PROVISIONS FOR LIABILITIES
Deferred Taxation			(391,767 )		(290,821 )

NET ASSETS			2,253,081		1,923,171

CAPITAL AND RESERVES
Called up share capital	11		10,000		10,000
Revaluation reserve			1,210,045		907,010
Profit and Loss Account			1,033,036		1,006,161

SHAREHOLDERS' FUNDS			2,253,081		1,923,171