PROGRESSIVE DEVELOPERS LONDON LIMITED

Company Registration Number:
12160569 (England and Wales)

Unaudited abridged accounts for the year ended 28 February 2024

Period of accounts

Start date: 01 March 2023

End date: 28 February 2024

PROGRESSIVE DEVELOPERS LONDON LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2024

Balance sheet
Notes

PROGRESSIVE DEVELOPERS LONDON LIMITED

Balance sheet

As at 28 February 2024


Notes

2024

2023


£

£
Current assets
Debtors:   30,000
Cash at bank and in hand: 44,400 89,400
Total current assets: 74,400 89,400
Creditors: amounts falling due within one year:   (80,000) (80,000)
Net current assets (liabilities): (5,600) 9,400
Total assets less current liabilities: (5,600) 9,400
Creditors: amounts falling due after more than one year:   (48,215) (62,827)
Total net assets (liabilities): (53,815) (53,427)
Capital and reserves
Called up share capital: 5,000 5,000
Profit and loss account: (58,815) (58,427)
Shareholders funds: (53,815) (53,427)

The notes form part of these financial statements

PROGRESSIVE DEVELOPERS LONDON LIMITED

Balance sheet statements

For the year ending 28 February 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 27 November 2024
and signed on behalf of the board by:

Name: D A McLaughlin
Status: Director

The notes form part of these financial statements

PROGRESSIVE DEVELOPERS LONDON LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Other accounting policies

Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. Debtors Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Creditors Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Taxation A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

PROGRESSIVE DEVELOPERS LONDON LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2024

2. Employees

2024 2023
Average number of employees during the period 2 2