Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Edward James Henebury 28/11/2006 Katie Jane Henebury 28/11/2006 30 January 2025 The Principal activity of the company in the period under review was that of a children's gym. 06011508 2024-04-30 06011508 bus:Director1 2024-04-30 06011508 bus:Director2 2024-04-30 06011508 2023-04-30 06011508 core:CurrentFinancialInstruments 2024-04-30 06011508 core:CurrentFinancialInstruments 2023-04-30 06011508 core:Non-currentFinancialInstruments 2024-04-30 06011508 core:Non-currentFinancialInstruments 2023-04-30 06011508 core:ShareCapital 2024-04-30 06011508 core:ShareCapital 2023-04-30 06011508 core:RetainedEarningsAccumulatedLosses 2024-04-30 06011508 core:RetainedEarningsAccumulatedLosses 2023-04-30 06011508 core:Goodwill 2023-04-30 06011508 core:OtherResidualIntangibleAssets 2023-04-30 06011508 core:Goodwill 2024-04-30 06011508 core:OtherResidualIntangibleAssets 2024-04-30 06011508 core:OtherPropertyPlantEquipment 2023-04-30 06011508 core:OtherPropertyPlantEquipment 2024-04-30 06011508 bus:OrdinaryShareClass1 2024-04-30 06011508 2023-05-01 2024-04-30 06011508 bus:FilletedAccounts 2023-05-01 2024-04-30 06011508 bus:SmallEntities 2023-05-01 2024-04-30 06011508 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 06011508 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06011508 bus:Director1 2023-05-01 2024-04-30 06011508 bus:Director2 2023-05-01 2024-04-30 06011508 core:Goodwill core:TopRangeValue 2023-05-01 2024-04-30 06011508 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-05-01 2024-04-30 06011508 core:Goodwill 2023-05-01 2024-04-30 06011508 core:OtherResidualIntangibleAssets 2023-05-01 2024-04-30 06011508 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 06011508 2023-01-01 2023-04-30 06011508 core:Goodwill 1 2023-05-01 2024-04-30 06011508 core:OtherResidualIntangibleAssets 1 2023-05-01 2024-04-30 06011508 1 2023-05-01 2024-04-30 06011508 core:OtherPropertyPlantEquipment 1 2023-05-01 2024-04-30 06011508 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 06011508 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 06011508 bus:OrdinaryShareClass1 2023-01-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06011508 (England and Wales)

PROGRESSIVE STEPS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

PROGRESSIVE STEPS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

PROGRESSIVE STEPS LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
PROGRESSIVE STEPS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTORS Edward James Henebury
Katie Jane Henebury
SECRETARY Katie Jane Henebury
REGISTERED OFFICE 1 Cardale Park
Beckwith Head Road
Harrogate
HG3 1RY
United Kingdom
COMPANY NUMBER 06011508 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
PROGRESSIVE STEPS LIMITED

BALANCE SHEET

As at 30 April 2024
PROGRESSIVE STEPS LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 30.04.2024 30.04.2023
£ £
Fixed assets
Intangible assets 3 3,774 7,548
Tangible assets 4 115,798 137,878
119,572 145,426
Current assets
Debtors
- due within one year 5 223,119 133,925
- due after more than one year 5 0 7,280
Cash at bank and in hand 6 31,743 18,748
254,862 159,953
Creditors: amounts falling due within one year 7 ( 248,963) ( 136,844)
Net current assets 5,899 23,109
Total assets less current liabilities 125,471 168,535
Creditors: amounts falling due after more than one year 8 ( 130,855) ( 241,108)
Net liabilities ( 5,384) ( 72,573)
Capital and reserves
Called-up share capital 9 50 50
Profit and loss account ( 5,434 ) ( 72,623 )
Total shareholders' deficit ( 5,384) ( 72,573)

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Progressive Steps Limited (registered number: 06011508) were approved and authorised for issue by the Board of Directors on 30 January 2025. They were signed on its behalf by:

Katie Jane Henebury
Director
PROGRESSIVE STEPS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
PROGRESSIVE STEPS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Progressive Steps Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Cardale Park, Beckwith Head Road, Harrogate, HG3 1RY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 23 years straight line
Other intangible assets 1 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 23 years.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

2. Employees

Year ended
30.04.2024
Period from
01.01.2023 to
30.04.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 38 41

3. Intangible assets

Goodwill Other intangible assets Total
£ £ £
Cost
At 01 May 2023 66,300 98,334 164,634
At 30 April 2024 66,300 98,334 164,634
Accumulated amortisation
At 01 May 2023 58,752 98,334 157,086
Charge for the financial year 3,774 0 3,774
0 0 0
At 30 April 2024 62,526 98,334 160,860
Net book value
At 30 April 2024 3,774 0 3,774
At 30 April 2023 7,548 0 7,548

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 May 2023 402,327 402,327
Additions 6,935 6,935
0 0
At 30 April 2024 409,262 409,262
Accumulated depreciation
At 01 May 2023 264,449 264,449
Charge for the financial year 29,015 29,015
rounding 0 0
At 30 April 2024 293,464 293,464
Net book value
At 30 April 2024 115,798 115,798
At 30 April 2023 137,878 137,878

5. Debtors

30.04.2024 30.04.2023
£ £
Debtors: amounts falling due within one year
Other debtors 223,119 133,925
Debtors: amounts falling due after more than one year
Other debtors 0 7,280

6. Cash and cash equivalents

30.04.2024 30.04.2023
£ £
Cash at bank and in hand 31,743 18,748

7. Creditors: amounts falling due within one year

30.04.2024 30.04.2023
£ £
Bank loans 54,526 0
Trade creditors 43,526 33,999
Taxation and social security 49,081 51,912
Obligations under finance leases and hire purchase contracts 1,830 0
Other creditors 100,000 50,933
248,963 136,844

8. Creditors: amounts falling due after more than one year

30.04.2024 30.04.2023
£ £
Bank loans 122,877 229,877
Obligations under finance leases and hire purchase contracts 7,978 11,231
130,855 241,108

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

30.04.2024 30.04.2023
£ £
Allotted, called-up and fully-paid
50 Ordinary shares of £ 1.00 each 50 50