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Registered Number: 12544431
England and Wales

 

 

 

THE PROGRESS TEAM LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Directors P D Cleverly
J Cleverly
Registered Number 12544431
Registered Office 30 Bridge Street
Newport
Gwent
NP20 4BG
Accountants Matthew Craig Associates Limited
Chartered Accountants
The Haig,
Pentlepoir
Pembrokeshire
SA69 9BN
1
  2024   2023
    £ £   £ £
Current assets 283,099      126,281   
Prepayments and accrued income     25,000   
Creditors: amount falling due within one year (32,963)     (30)  
Net current assets   250,136      151,251 
Total assets less current liabilities   250,136      151,251 
Net assets   250,136      151,251 
 

         
Capital and reserves   250,136      151,251 
 
NOTES TO THE ACCOUNTS

General Information
The Progress Team Limited is a private company, limited by shares, registered in England and Wales, registration number 12544431, registration address 30 Bridge Street, Newport, Gwent, NP20 4BG


1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).

3.

Other debtors

Included in other debtors is a loan to Clever Business Centre Limited of £115,000 (2023 : £115,000). The loan is interest free and repayable on demand.

For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 11 October 2024 and were signed on its behalf by:


--------------------------------
P D Cleverly
Director
2