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REGISTERED NUMBER: SC425528 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Progress Business Solutions Ltd

Progress Business Solutions Ltd (Registered number: SC425528)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Progress Business Solutions Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTOR: S Langmead





REGISTERED OFFICE: 16 West Mill Bank
Edinburgh
Midlothian
EH13 0QT





REGISTERED NUMBER: SC425528 (Scotland)





ACCOUNTANTS: One Accounting Ltd
Chartered Management Accountants
Drumsheugh Toll
2 Belford Road
Edinburgh
Midlothian
EH4 3BL

Progress Business Solutions Ltd (Registered number: SC425528)

Statement of Financial Position
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 232 990

CURRENT ASSETS
Debtors 5 6,800 4,950
Cash at bank 406,756 418,307
413,556 423,257
CREDITORS
Amounts falling due within one year 6 5,050 10,636
NET CURRENT ASSETS 408,506 412,621
TOTAL ASSETS LESS CURRENT
LIABILITIES

408,738

413,611

PROVISIONS FOR LIABILITIES 58 188
NET ASSETS 408,680 413,423

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 408,679 413,422
SHAREHOLDERS' FUNDS 408,680 413,423

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

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

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 28 March 2024 and were signed by:





S Langmead - Director


Progress Business Solutions Ltd (Registered number: SC425528)

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

1. STATUTORY INFORMATION

Progress Business Solutions Ltd is a private company, limited by shares , registered in Scotland. 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 equipments - 33% on cost

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable are initially measured at present value of future cash flows and subsequently amortised at cost using the effective interest method.

Creditors payable within one year, typically trade payables, are measured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid.

Debtors payable within one year, typically trade debtors, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be received.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Progress Business Solutions Ltd (Registered number: SC425528)

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

4. TANGIBLE FIXED ASSETS
Computer
equipments
£   
COST
At 1 July 2022 5,418
Disposals (3,714 )
At 30 June 2023 1,704
DEPRECIATION
At 1 July 2022 4,428
Charge for year 546
Eliminated on disposal (3,502 )
At 30 June 2023 1,472
NET BOOK VALUE
At 30 June 2023 232
At 30 June 2022 990

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 4,800 2,700
Prepayments and accrued income 2,000 2,250
6,800 4,950

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Tax - 2,365
VAT 1,094 1,166
Other creditors 16 114
Directors' current accounts 79 495
Accrued expenses 3,861 6,496
5,050 10,636