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REGISTERED NUMBER: 11694251 (England and Wales)













Financial Statements

for the Year Ended 31 December 2024

for

Progress 2019 Limited

Progress 2019 Limited (Registered number: 11694251)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Progress 2019 Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: M P Porteous
I Benopoulos
V Katsos
T Matsantonis



REGISTERED OFFICE: C/O Beanies The Flavour Co Ltd
Faverdale North
DARLINGTON
Co Durham
DL3 0PH



REGISTERED NUMBER: 11694251 (England and Wales)



SENIOR STATUTORY AUDITOR: Kevin Shotton BA BFP FCA



AUDITORS: Clive Owen LLP
Chartered Accountants
& Statutory Auditors
140 Coniscliffe Road
Darlington
County Durham
DL3 7RT

Progress 2019 Limited (Registered number: 11694251)

Balance Sheet
31 December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investments 4 1,059,667 1,059,667

CURRENT ASSETS
Debtors 5 35,001 1
Cash at bank 3,269 38,389
38,270 38,390
CREDITORS
Amounts falling due within one year 6 (4,000 ) (4,000 )
NET CURRENT ASSETS 34,270 34,390
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,093,937

1,094,057

CAPITAL AND RESERVES
Called up share capital 7 7,084 7,084
Share premium 1,120,206 1,120,206
Retained earnings (33,353 ) (33,233 )
SHAREHOLDERS' FUNDS 1,093,937 1,094,057

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2025 and were signed on its behalf by:





M P Porteous - Director


Progress 2019 Limited (Registered number: 11694251)

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

1. STATUTORY INFORMATION

Progress 2019 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.

There were no material departures from that standard.

The period of these financial statements is 12 months, the comparative period is 9 months due to a change in the company's financial reporting year-end.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

Preparation of consolidated financial statements
The financial statements contain information about Progress 2019 Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Cafetex Société Anonyme, AG. Louka Street. AG Athanasios. P.C., 19002. Paiania. Attica. GREECE.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group nor transactions with directors conducted at a market rate.

Investments
Investments are based at cost, which includes the fair value of share options granted to employees of the trading subsidiary and are reviewed annually for impairment.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.


Progress 2019 Limited (Registered number: 11694251)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2024
and 31 December 2024 1,059,667
NET BOOK VALUE
At 31 December 2024 1,059,667
At 31 December 2023 1,059,667

The above investment relates to 100% of the issued share capital in Beanies The Flavour Co. Ltd.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 35,000 -
Other debtors 1 1
35,001 1

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 4,000 4,000

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
708,361 Ordinary £0.01 7,084 7,084

Progress 2019 Limited (Registered number: 11694251)

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

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kevin Shotton BA BFP FCA (Senior Statutory Auditor)
for and on behalf of Clive Owen LLP

9. PARENT COMPANY

The ultimate controlling party is Cafetex Societe Anonyme, a company registered in Greece whose registered office address is Agiou Louka Str.19002, Paiania, Greece.