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REGISTERED NUMBER: 13145235 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Progression Electrical Ltd

Progression Electrical Ltd (Registered number: 13145235)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Progression Electrical Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTOR: G W Sheppard





REGISTERED OFFICE: 18 Higher Alham
Bracknell
England
RG12 0GR





REGISTERED NUMBER: 13145235 (England and Wales)





ACCOUNTANTS: Gilroy & Brookes Accountants Limited
Suite 15
The Enterprise Centre
Coxbridge Business Park
Farnham
Surrey
GU10 5EH

Progression Electrical Ltd (Registered number: 13145235)

Balance Sheet
31 January 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,528 780

CURRENT ASSETS
Stocks 5 2,800 2,800
Debtors 6 48,777 42,986
Cash at bank and in hand 22,895 12,276
74,472 58,062
CREDITORS
Amounts falling due within one year 7 (46,321 ) (43,192 )
NET CURRENT ASSETS 28,151 14,870
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,679

15,650

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 29,677 15,648
SHAREHOLDERS' FUNDS 29,679 15,650

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

Progression Electrical Ltd (Registered number: 13145235)

Balance Sheet - continued
31 January 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 director and authorised for issue on 17 October 2023 and were signed by:





G W Sheppard - Director


Progression Electrical Ltd (Registered number: 13145235)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Progression Electrical 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.
Computer equipment - 25% on reducing balance

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 not recognised in respect of all timing differences that have originated but not reversed at the balance sheet date which are immaterial.

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 3 (2022 - 3 ) .

Progression Electrical Ltd (Registered number: 13145235)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 February 2022 1,040
Additions 1,257
At 31 January 2023 2,297
DEPRECIATION
At 1 February 2022 260
Charge for year 509
At 31 January 2023 769
NET BOOK VALUE
At 31 January 2023 1,528
At 31 January 2022 780

5. STOCKS
2023 2022
£    £   
Closing Stock 2,800 2,800

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 15,845 23,441
PAYE/NI Receivable 2,645 -
CIS Receivable 28,458 9,994
VAT 1,829 9,551
48,777 42,986

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 18,826 23,999
Tax 7,577 7,132
PAYE/NI liability - 241
CIS Liability 262 1,284
Credit card 9,012 -
Directors' current accounts 10,644 8,906
Accrued expenses - 1,630
46,321 43,192

Progression Electrical Ltd (Registered number: 13145235)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

9. ULTIMATE CONTROLLING PARTY

The controlling party is G W Sheppard.