Registered number
14073199
H & K PROGRESSION LTD
Management Report and Accounts
30 April 2024
H & K PROGRESSION LTD
Registered number: 14073199
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 378,847 203,347
Current assets
Debtors 4 162,286 14,801
Cash at bank and in hand 28,582 2,789
190,868 17,590
Creditors: amounts falling due within one year 5 (334,030) (322,830)
Net current liabilities (143,162) (305,240)
Total assets less current liabilities 235,685 (101,893)
Creditors: amounts falling due after more than one year 6 (117,881) (31,859)
Net assets/(liabilities) 117,804 (133,752)
Capital and reserves
Called up share capital 100 100
Profit and loss account 117,704 (133,852)
Shareholder's funds 117,804 (133,752)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Liam Adam Hudson
Director
Approved by the board on 20 March 2025
H & K PROGRESSION LTD
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings 0%
Fixtures, fittings, tools and equipment 20% reducing balance
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2023 114,297 89,050 203,347
Additions 175,500 - 175,500
At 30 April 2024 289,797 89,050 378,847
Depreciation
At 30 April 2024 - - -
Net book value
At 30 April 2024 289,797 89,050 378,847
At 30 April 2023 114,297 89,050 203,347
4 Debtors 2024 2023
£ £
Trade debtors 147,485 -
Other debtors 14,801 14,801
162,286 14,801
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,284 -
Trade creditors 295,047 264,290
Taxation and social security costs 32,552 10,174
Other creditors 1,147 48,366
334,030 322,830
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 117,881 31,859
7 Other information
H & K PROGRESSION LTD is a private company limited by shares and incorporated in England. Its registered office is:
106 High Street
Rochester
Kent
UK
ME1 1JT
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