04573056falsethat of the manufacture and production of specialist window and door mechanisms2021-01-012021-12-31http://www.companieshouse.gov.uk/2020-12-31http://www.companieshouse.gov.uk/pt:PlantMachinery2020-12-31http://www.companieshouse.gov.uk/pt:ShareCapital2020-12-31http://www.companieshouse.gov.uk/cd:Director12021-01-012021-12-31http://www.companieshouse.gov.uk/pt:PlantMachinery2021-12-31http://www.companieshouse.gov.uk/pt:ShareCapital2021-12-31http://www.companieshouse.gov.uk/pt:FurnitureFittings2020-12-31http://www.companieshouse.gov.uk/pt:FurnitureFittings2021-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12021-01-012021-12-31http://www.companieshouse.gov.uk/pt:MotorCars2020-12-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2021-01-012021-12-31http://www.companieshouse.gov.uk/pt:MotorCars2021-12-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2021-01-012021-12-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2021-12-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2020-12-31http://www.companieshouse.gov.uk/2021-01-012021-12-31http://www.companieshouse.gov.uk/2020-12-31http://www.companieshouse.gov.uk/cd:FRS1022021-01-012021-12-31http://www.companieshouse.gov.uk/2021-12-31http://www.companieshouse.gov.uk/cd:FullAccounts2021-01-012021-12-31http://www.companieshouse.gov.uk/pt:LandBuildings2020-12-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2021-01-012021-12-31http://www.companieshouse.gov.uk/pt:LandBuildings2021-12-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 04573056

Progroup Corporation Limited

ACCOUNTS
FOR THE YEAR ENDED 31/12/2021

Prepared By:
Poplar Accountancy Limited
The Poplars
32 Main Street
Haconby, Bourne
Lincolnshire
PE10 0UU

Progroup Corporation Limited

ACCOUNTS
FOR THE YEAR ENDED 31/12/2021
DIRECTORS
Simon Braid
REGISTERED OFFICE
Halifax Drive
Northfields Ind Est
Market Deeping
Lincolnshire
PE6 8AH
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 04573056
ACCOUNTANTS
Poplar Accountancy Limited
The Poplars
32 Main Street
Haconby, Bourne
Lincolnshire
PE10 0UU

Progroup Corporation Limited

ACCOUNTS
FOR THEYEARENDED31/12/2021
CONTENTS
Page
Directors' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Progroup Corporation Limited

BALANCE SHEET AT 31/12/2021
20212020
Notes££
FIXED ASSETS
Tangible assets2885,830886,106
CURRENT ASSETS
Debtors3863,228859,470
Cash at bank and in hand30,70135,104
893,929894,574
CREDITORS: Amounts falling due within one year41,118,8521,199,145
NET CURRENT LIABILITIES(224,923)(304,571)
TOTAL ASSETS LESS CURRENT LIABILITIES660,907581,535
CAPITAL AND RESERVES
Called up share capital6800800
Revaluation reserve1c,746,30046,300
Profit and loss account613,807534,435
SHAREHOLDERS' FUNDS660,907581,535
For the year ending 31/12/2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 07/06/2022 and signed on their behalf by
.............................
Simon Braid
Director

Progroup Corporation Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/12/2021
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machinerystraight line 25%
Motor Carsreducing balance 25%
1c. Revaluation Reserve
Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributible reserve known as the revaluation reserve (see also note 7).
Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the profit and loss account.
2. TANGIBLE FIXED ASSETS
Land AndPlant andFixtures
BuildingsMachineryand FittingsMotor CarsTotal
£££££
Cost
At 01/01/2021885,000424,2343,48726,6991,339,420
At 31/12/2021885,000424,2343,48726,6991,339,420
Depreciation
At 01/01/2021-424,2343,48725,593453,314
For the year---276276
At 31/12/2021-424,2343,48725,869453,590
Net Book Amounts
At 31/12/2021885,000--830885,830
At 31/12/2020885,000--1,106886,106
The buildings were professionally revalued in August 2015, at a value of £885,000. This is represented in the financial statements.
3. DEBTORS 20212020
££
Amounts falling due within one year
Trade debtors859,614855,856
Other debtors3,6143,614
863,228859,470

Progroup Corporation Limited

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20212020
££
UK corporation tax20,80736,642
VAT3,41132,090
PAYE control451451
Directors current account714,744752,744
Trade creditors2,221-
Other creditors206,123206,123
Other creditors - Progroup168,095168,095
Accruals3,0003,000
1,118,8521,199,145
5. EMPLOYEES
20212020
No.No.
Average number of employees--
6. SHARE CAPITAL 20212020
££
Allotted, issued and fully paid:
800 Ordinary shares of £1 each800800
800800
7. REVALUATION RESERVE 20212020
££
Revaluation reserve46,30046,300
46,30046,300
8. CONTROLLING PARTY
Simon Braid holds 100% of the issued shares and is the ultimate controller of the company.
9. RELATED PARTY TRANSACTIONS
Included in other creditors is an unsecured loan of £206,122 (2020 £206,122) from US Hardware Inc, a company owned by the director, based in the US. The loan is interest free and no repayment date has been set.
At the year end date the company was owed £911,573 from Progroup Trade Frames Limited, a company registered in England and 100% owned by the director. The balance is included within trade debtors.
During the year the company charged Progroup Trade Frames Limited, a company registered in England and 100% owned by the director, £115,000 for general management charges and use of machinery and assets.