IRIS Accounts Production v24.3.2.46 00626950 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh006269502023-03-31006269502024-03-31006269502023-04-012024-03-31006269502022-03-31006269502022-04-012023-03-31006269502023-03-3100626950ns15:EnglandWales2023-04-012024-03-3100626950ns14:PoundSterling2023-04-012024-03-3100626950ns10:Director12023-04-012024-03-3100626950ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3100626950ns10:SmallEntities2023-04-012024-03-3100626950ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3100626950ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3100626950ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3100626950ns10:FullAccounts2023-04-012024-03-3100626950ns10:Director22023-04-012024-03-3100626950ns10:RegisteredOffice2023-04-012024-03-3100626950ns5:CurrentFinancialInstruments2024-03-3100626950ns5:CurrentFinancialInstruments2023-03-3100626950ns5:Non-currentFinancialInstruments2024-03-3100626950ns5:Non-currentFinancialInstruments2023-03-3100626950ns5:ShareCapital2024-03-3100626950ns5:ShareCapital2023-03-3100626950ns5:RevaluationReserve2024-03-3100626950ns5:RevaluationReserve2023-03-3100626950ns5:RetainedEarningsAccumulatedLosses2024-03-3100626950ns5:RetainedEarningsAccumulatedLosses2023-03-3100626950ns5:ComputerEquipment2023-04-012024-03-3100626950ns5:LandBuildings2023-03-3100626950ns5:ComputerEquipment2023-03-3100626950ns5:LandBuildings2023-04-012024-03-3100626950ns5:LandBuildings2024-03-3100626950ns5:ComputerEquipment2024-03-3100626950ns5:LandBuildings2023-03-3100626950ns5:ComputerEquipment2023-03-3100626950ns5:CostValuation2023-03-3100626950ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3100626950ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3100626950ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-03-3100626950ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-03-3100626950ns5:RevaluationReserve2023-03-31
REGISTERED NUMBER: 00626950 (England and Wales)









Financial Statements

for the Year Ended 31 March 2024

for

Progressive Supplies (Paper) Limited

Progressive Supplies (Paper) Limited (Registered number: 00626950)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Progressive Supplies (Paper) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: ADH Management Services Ltd
Mrs H Hayes





REGISTERED OFFICE: Paddock House
London Road
Windlesham
GU20 6PJ





REGISTERED NUMBER: 00626950 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
Suite 301
Stanmore Business and Innovation Centre
Howard Road
Stanmore
Middlesex
HA7 1FW

Progressive Supplies (Paper) Limited (Registered number: 00626950)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 1,105,145 407,021
Investments 5 - 24,587
1,105,145 431,608

CURRENT ASSETS
Inventories 29,814 64,562
Debtors 6 76,998 65,343
Cash at bank and in hand - 13,050
106,812 142,955
CREDITORS
Amounts falling due within one year 7 (203,952 ) (162,464 )
NET CURRENT LIABILITIES (97,140 ) (19,509 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,008,005

412,099

CREDITORS
Amounts falling due after more than one
year

8

(145,642

)

(234,803

)
NET ASSETS 862,363 177,296

CAPITAL AND RESERVES
Called up share capital 2,100 2,100
Revaluation reserve 9 - 291,862
Retained earnings 860,263 (116,666 )
SHAREHOLDERS' FUNDS 862,363 177,296

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Supplies (Paper) Limited (Registered number: 00626950)

Statement of Financial Position - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed by:





Mrs H Hayes - Director


Progressive Supplies (Paper) Limited (Registered number: 00626950)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Progressive Supplies (Paper) Limited 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 as modified by the revaluation of certain assets.

Turnover
Revenue 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.
Computer equipment - 25% Straight line

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 - 5 ) .

Progressive Supplies (Paper) Limited (Registered number: 00626950)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. PROPERTY, PLANT AND EQUIPMENT
Freehold Computer
property equipment Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 400,000 12,523 412,523
Additions - 6,860 6,860
Revaluations 700,000 - 700,000
At 31 March 2024 1,100,000 19,383 1,119,383
DEPRECIATION
At 1 April 2023 - 5,502 5,502
Charge for year - 8,736 8,736
At 31 March 2024 - 14,238 14,238
NET BOOK VALUE
At 31 March 2024 1,100,000 5,145 1,105,145
At 31 March 2023 400,000 7,021 407,021

Cost or valuation at 31 March 2024 is represented by:

Freehold Computer
property equipment Totals
£    £    £   
Valuation in 2019 291,862 - 291,862
Valuation in 2024 700,000 - 700,000
Cost 108,138 19,383 127,521
1,100,000 19,383 1,119,383

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 24,587
PROVISIONS

Eliminated on disposal 24,587
At 31 March 2024 24,587
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 24,587

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 53,956 65,343
Prepayments and accrued income 23,042 -
76,998 65,343

Progressive Supplies (Paper) Limited (Registered number: 00626950)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,747 14,428
Trade creditors 55,532 67,539
Tax - 23,583
Social security and other taxes 6,692 6,893
VAT 17,377 12,320
Other creditors 110,233 -
Directors' current accounts - 37,701
Accruals and deferred income 7,371 -
203,952 162,464

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 136,713 225,874
Other loans > 1 year 8,929 8,929
145,642 234,803

9. RESERVES
Revaluation
reserve
£   
At 1 April 2023 291,862
Trf fm revaluation reserve (291,862 )

At 31 March 2024 -