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REGISTERED NUMBER: 12006673 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

PROGRESSIVE EDGE SOLUTIONS LTD

PROGRESSIVE EDGE SOLUTIONS LTD (REGISTERED NUMBER: 12006673)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROGRESSIVE EDGE SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mr I D Buss





REGISTERED OFFICE: 1 Harbour House
Harbour Way
Shoreham-By-Sea
West Sussex
BN43 5HZ





REGISTERED NUMBER: 12006673 (England and Wales)





ACCOUNTANTS: Peter Jarman LLP
trading as
Peter Jarman & Company
1 Harbour House
Harbour Way
Shoreham by Sea
West Sussex
BN43 5HZ

PROGRESSIVE EDGE SOLUTIONS LTD (REGISTERED NUMBER: 12006673)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 14,648 18,269

CURRENT ASSETS
Debtors 5 2,716 15,840
Cash at bank 19,697 4,461
22,413 20,301
CREDITORS
Amounts falling due within one year 6 (22,671 ) (17,732 )
NET CURRENT (LIABILITIES)/ASSETS (258 ) 2,569
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,390

20,838

PROVISIONS FOR LIABILITIES 7 (2,783 ) (3,471 )
NET ASSETS 11,607 17,367

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 11,605 17,365
SHAREHOLDERS' FUNDS 11,607 17,367

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

PROGRESSIVE EDGE SOLUTIONS LTD (REGISTERED NUMBER: 12006673)

BALANCE SHEET - continued
31 MAY 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 August 2024 and were signed by:





Mr I D Buss - Director


PROGRESSIVE EDGE SOLUTIONS LTD (REGISTERED NUMBER: 12006673)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Progressive Edge Solutions 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.
Plant and machinery etc - 25% on reducing balance

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

PROGRESSIVE EDGE SOLUTIONS LTD (REGISTERED NUMBER: 12006673)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 28,255
Additions 1,250
At 31 May 2024 29,505
DEPRECIATION
At 1 June 2023 9,986
Charge for year 4,871
At 31 May 2024 14,857
NET BOOK VALUE
At 31 May 2024 14,648
At 31 May 2023 18,269

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 14,520
Other debtors 2,716 1,320
2,716 15,840

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 130 -
Taxation and social security - 7,400
Other creditors 22,541 10,332
22,671 17,732

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 2,783 3,471

Deferred
tax
£   
Balance at 1 June 2023 3,471
Capital allowances in advance (688 )
of depreciation
Balance at 31 May 2024 2,783