Surf AccountsProduction v1.0.0 v1.0.0 2022-06-01 The company was dormant during the period Unaudited Accounts The principal activity of the company is that of a holding company. 26 October 2023 0 0 06034224 2023-05-31 06034224 2022-05-31 06034224 2021-05-31 06034224 2022-06-01 2023-05-31 06034224 2021-06-01 2022-05-31 06034224 uk-bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 06034224 uk-curr:PoundSterling 2022-06-01 2023-05-31 06034224 uk-bus:AbridgedAccounts 2022-06-01 2023-05-31 06034224 uk-bus:EntityNoLongerTradingButTradedInPast 2022-06-01 2023-05-31 06034224 uk-core:ShareCapital 2023-05-31 06034224 uk-core:ShareCapital 2022-05-31 06034224 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 06034224 uk-core:RetainedEarningsAccumulatedLosses 2022-05-31 06034224 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-05-31 06034224 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-05-31 06034224 uk-core:RestatedAmount uk-core:RetainedEarningsAccumulatedLosses 2022-05-31 06034224 uk-bus:FRS102 2022-06-01 2023-05-31 06034224 uk-core:CostValuation 2023-05-31 06034224 uk-core:Subsidiary1 2022-06-01 2023-05-31 06034224 uk-core:ParentEntities 2022-06-01 2023-05-31 06034224 2022-06-01 2023-05-31 06034224 uk-bus:CompanySecretaryDirector1 2022-06-01 2023-05-31 06034224 uk-bus:Director2 2022-06-01 2023-05-31 06034224 uk-bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
Progress Holdings Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 May 2023



Progress Holdings Limited
DIRECTORS' REPORT
for the financial year ended 31 May 2023

 
The directors present their report and the unaudited financial statements for the financial year ended 31 May 2023.
 
Principal Activity
The principal activity of the company is that of a holding company.
 
The Company is dormant and has not traded during the financial year.
     
Directors
The directors who served during the financial year are as follows:
     
Leo McCarthy
Thomas Owens
   
There were no changes in shareholdings between 31 May 2023 and the date of signing the financial statements.
     
Political Contributions
The company did not make any disclosable political donations in the current financial year.
     
Indemnity Insurance
In accordance with our articles of association and to the extent permitted by the laws of England and Wales, directors are granted an indemnity from the Company in respect of liabilities incurred as a result of their office. In addition, we maintained a directors' and officers' liability insurance policy throughout the year. Neither our indemnity nor the insurance provides cover in the event that a director is proven to have acted dishonestly or fraudulently.
     
Statement of directors' Responsibilities and Declaration on Unaudited Financial Statements
     
The directors made the following statement in respect of the unaudited financial statements:
     
"General responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
     
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
Directors' declaration on unaudited financial statements
In relation to the financial statements comprising the Abridged Income Statement, the Abridged Statement of Financial Position, the Statement of Changes in Equity and the related notes:
     
The directors approve these financial statements and confirm that they are responsible for them, including selecting the appropriate accounting policies, applying them consistently and making, on a reasonable and prudent basis, the judgements underlying them. They have been prepared on the going concern basis on the grounds that the company will continue in business.
     
The directors confirm that they have made available to Hugh McCarthy & Associates, (Chartered Accountants), all the company's accounting records and provided all the information, books and documents necessary for the compilation of the financial statements.
     
The directors confirm that to the best of their knowledge and belief, the accounting records reflect all the transactions of the company for the financial year ended 31 May 2023."
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
___________________________ ___________________________
Leo McCarthy Thomas Owens
Director Director
     
26 October 2023 26 October 2023



Progress Holdings Limited
ABRIDGED INCOME STATEMENT
for the financial year ended 31 May 2023
2023 2022
Notes £ £

Profit for the financial year - -
───────── ─────────
Total comprehensive income - -
    ═════════   ═════════
The company did not trade during the financial year and received no income and incurred no expenditure. During the financial year the company made neither a profit nor a loss.



Progress Holdings Limited
Company Registration Number: 06034224
ABRIDGED STATEMENT OF FINANCIAL POSITION
as at 31 May 2023

2023 2022
Notes £ £
 
Non-Current Assets
Financial assets 3 100 100
───────── ─────────
 
Payables: amounts falling due within one year (98) (98)
───────── ─────────
Net Current Liabilities (98) (98)
───────── ─────────
Total Assets less Current Liabilities 2 2
═════════ ═════════
 
Equity
Called up share capital 100 100
Retained earnings (98) (98)
───────── ─────────
Equity attributable to owners of the company 2 2
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 26 October 2023 and signed on its behalf by
           
           
________________________________     ________________________________
Leo McCarthy     Thomas Owens
Director     Director
           



Progress Holdings Limited
STATEMENT OF CHANGES IN EQUITY
as at 31 May 2023

Called up Retained Total
share earnings
capital
£ £ £
 
At 1 June 2021 100 (98) 2
───────── ───────── ─────────
At 31 May 2022 100 (98) 2
  ───────── ───────── ─────────
At 31 May 2023 100 (98) 2
  ═════════ ═════════ ═════════



Progress Holdings Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 May 2023

   
1. General Information
 
Progress Holdings Limited is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 06034224. The registered office of the company is 12C Joyce Way, New Nangor Road, Park West, Dublin. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 May 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Financial assets
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the profit and loss account in the financial year in which it is receivable.
 
Trade and other payables
Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Related parties
For the purposes of these financial statements a party is considered to be related to the company if:
 
- the party has the ability, directly or indirectly, through one or more intermediaries to control the company or exercise significant influence over the company in making financial and operating policy decisions or has joint control over the company;
- the company and the party are subject to common control;
- the party is an associate of the company or forms part of a joint venture with the company;
- the party is a member of key management personnel of the company or the company's parent, or a close family member of such as an individual, or is an entity under the control, joint control or significant influence of such individuals;
- the party is a close family member of a party referred to above or is an entity under the control or significant influence of such individuals; or
- the party is a post-employment benefit plan which is for the benefit of employees of the company or of any entity that is a related party of the company.
 
Close family members of an individual are those family members who may be expected to influence, or be influenced by, that individual in their dealings with the company.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Financial fixed assets
  Group and Total
  participating  
  interests/  
  joint ventures  
Investments £ £
Cost
 
At 31 May 2023 100 100
  ───────── ─────────
Carrying amount
At 31 May 2023 100 100
  ═════════ ═════════
At 31 May 2022 100 100
  ═════════ ═════════
             
3.1. Holdings in related undertakings
The company holds 20% or more of the share capital of the following company:
 
  Country Nature   Details Proportion
  of of   of held by
Name incorporation and address of Registered Office business   investment company
 
Subsidiary undertaking
Progress Software Systems Limited United Kingdom Software Sales   Ordinary 99%
 
 
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
 
  Year ended Capital and     Profit for
    reserves     the year
    £     £
 
Progress Software Systems Limited 31 May 2021 166,255     5,113
    ═════════     ═════════
 
In the opinion of the directors, the value to the company of the unlisted investments is not less than the book amount shown above.
       
4. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 May 2023.
   
5. Parent company
 
The company regards Tippura Trading Company Limited as its ultimate parent company.
The Address of Tippura Trading Company Limited is 12C Joyce Way, Park West Business Park, Dublin 12.
Tippura Trading Company Limited is regarded as both the controlling party and the ultimate controlling party.
 
   
6. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial year-end.