Company Registration No. 12257807 (England and Wales)
Place Of Progress Ltd
Unaudited accounts
for the year ended 31 October 2024
Place Of Progress Ltd
Unaudited accounts
Contents
Place Of Progress Ltd
Company Information
for the year ended 31 October 2024
Company Number
12257807 (England and Wales)
Registered Office
International House
64 Nile Street
London,
N1 7SR
United Kingdom
Accountants
Cranleys Chartered Accountants
Winton House
Winton Square
Basingstoke
Hampshire
RG21 8EN
Place Of Progress Ltd
Statement of financial position
as at 31 October 2024
Tangible assets
15,545
12,657
Cash at bank and in hand
1,017
69,221
Creditors: amounts falling due within one year
(71,277)
(144,410)
Net current assets
380,884
367,405
Total assets less current liabilities
396,429
380,062
Creditors: amounts falling due after more than one year
(26,730)
(12,883)
Net assets
369,699
367,179
Called up share capital
1
1
Profit and loss account
369,698
367,178
Shareholders' funds
369,699
367,179
For the year ending 31 October 2024 the company was entitled to exemption from audit 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 February 2025 and were signed on its behalf by
Bianca Andrew
Director
Company Registration No. 12257807
Place Of Progress Ltd
Notes to the Accounts
for the year ended 31 October 2024
Place Of Progress Ltd is a private company, limited by shares, registered in England and Wales, registration number 12257807. The registered office is International House, 64 Nile Street, London,, N1 7SR, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 October 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 November 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% reducing balance
Motor vehicles
33% reducing balance
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 November 2023
2,154
35,944
38,098
At 31 October 2024
9,770
35,944
45,714
At 1 November 2023
1,196
24,245
25,441
Charge for the year
867
3,861
4,728
At 31 October 2024
2,063
28,106
30,169
At 31 October 2024
7,707
7,838
15,545
At 31 October 2023
958
11,699
12,657
Place Of Progress Ltd
Notes to the Accounts
for the year ended 31 October 2024
Amounts falling due within one year
Trade debtors
82,999
64,945
Accrued income and prepayments
4,512
334
Other debtors
363,633
377,315
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
7,114
-
Trade creditors
21,797
19,276
Taxes and social security
33,216
66,296
The creditors due within one year includes bank overdrafts of £7,144 as at the reporting date. The remaining amount relates to trade creditors, taxes, and other short-term liabilities falling due within one year.
7
Creditors: amounts falling due after more than one year
2024
2023
Creditors due after more than one year include a Funding Circle loan with an outstanding balance of £24,124.75 as at 31 October 2024, with a fixed annual interest rate of 17.30%.
The remaining balance relates to a Bounce Back Loan, which had an outstanding amount of £2,604.80 as at 31 October 2024.
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
9
Transactions with related parties
The related party is Bianca Andrew by virtue of shareholding and directorship.
The ultimate controlling party is Bianca Andrew by virtue of shareholding and directorship.
Place Of Progress Ltd
Notes to the Accounts
for the year ended 31 October 2024
11
Average number of employees
During the year the average number of employees was 20 (2023: 17).