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REGISTERED NUMBER: 00400459 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PROGRESSIVE PURIFICATION SYSTEMS LIMITED

PROGRESSIVE PURIFICATION SYSTEMS LIMITED (REGISTERED NUMBER: 00400459)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


PROGRESSIVE PURIFICATION SYSTEMS LIMITED (REGISTERED NUMBER: 00400459)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 4 6,308 2,127
Investment property 5 1,462,439 1,462,439
1,468,747 1,464,566

CURRENT ASSETS
Debtors 6 4,827 16,775
Cash at bank and in hand 67,813 99,758
72,640 116,533
CREDITORS
Amounts falling due within one year 7 247,381 99,376
NET CURRENT (LIABILITIES)/ASSETS (174,741 ) 17,157
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,294,006

1,481,723

CREDITORS
Amounts falling due after more than one year 8 - (204,950 )

PROVISIONS FOR LIABILITIES 10 (199,213 ) (197,636 )
NET ASSETS 1,094,793 1,079,137

CAPITAL AND RESERVES
Called up share capital 200 200
Fair value reserve 11 592,907 592,907
Retained earnings 501,686 486,030
SHAREHOLDERS' FUNDS 1,094,793 1,079,137

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 PURIFICATION SYSTEMS LIMITED (REGISTERED NUMBER: 00400459)

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 director and authorised for issue on 23 April 2025 and were signed by:





Ms J Wilde - Director


PROGRESSIVE PURIFICATION SYSTEMS LIMITED (REGISTERED NUMBER: 00400459)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Progressive Purification Systems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00400459

Registered office: 74 Kenilworth Drive
Croxley Green
Rickmansworth
Hertfordshire
WD3 3NW

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgements and estimates involved in the preparation of the financial statements.

Revenue
Revenue represents the value of rents receivable in respect to the investment property of the company. Revenue is recognised evenly over the period of the rental agreement.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 15% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the
purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from
changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

PROGRESSIVE PURIFICATION SYSTEMS LIMITED (REGISTERED NUMBER: 00400459)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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 material 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.

Foreign currencies
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of thetransaction. At the end of each reporting period foreign currency monetary items are translated at the closingrate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

PROGRESSIVE PURIFICATION SYSTEMS LIMITED (REGISTERED NUMBER: 00400459)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 62,405 - 62,405
Additions - 4,500 4,500
At 31 March 2024 62,405 4,500 66,905
DEPRECIATION
At 1 April 2023 60,278 - 60,278
Charge for year 319 - 319
At 31 March 2024 60,597 - 60,597
NET BOOK VALUE
At 31 March 2024 1,808 4,500 6,308
At 31 March 2023 2,127 - 2,127

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,512,229
DEPRECIATION
At 1 April 2023
and 31 March 2024 49,790
NET BOOK VALUE
At 31 March 2024 1,462,439
At 31 March 2023 1,462,439

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2008 790,543
Cost 721,686
1,512,229

If Investment properties had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 721,686 721,686

The director considers the market value of the properties as at year-end to be as stated in the financial statements.

PROGRESSIVE PURIFICATION SYSTEMS LIMITED (REGISTERED NUMBER: 00400459)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 16,006
Other debtors 4,827 769
4,827 16,775

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,719 -
Taxation and social security 5,671 45,323
Other creditors 237,991 54,053
247,381 99,376

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 204,950

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 204,950

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 204,950

Bank loan is secured by way of fixed and floating charge on the property and other assets of the company.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Other timing differences 199,213 197,636

Deferred
tax
£   
Balance at 1 April 2023 197,636
Accelerated capital allowances 1,577
Balance at 31 March 2024 199,213

PROGRESSIVE PURIFICATION SYSTEMS LIMITED (REGISTERED NUMBER: 00400459)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 592,907

12. RELATED PARTY DISCLOSURES

Included in other creditors less than one year is an amount of £44,456 (2023: £Nil) due to the director of the company. Also, included is an amount of £169,529 (2023: £50,748 due from) due to connected person. The amount was interest-free and repayable on demand.