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Company No: 10069495 (England and Wales)

PROGRESS LAND (SANDFORD) LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

PROGRESS LAND (SANDFORD) LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

PROGRESS LAND (SANDFORD) LIMITED

BALANCE SHEET

As at 31 October 2024
PROGRESS LAND (SANDFORD) LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Current assets
Stocks 3 0 95,000
Debtors 4 716,440 100
Cash at bank and in hand 566 0
717,006 95,100
Creditors: amounts falling due within one year 5 ( 346,323) ( 34,500)
Net current assets 370,683 60,600
Total assets less current liabilities 370,683 60,600
Net assets 370,683 60,600
Capital and reserves
Called-up share capital 6 100 100
Other reserves 8 65,000 65,000
Profit and loss account 305,583 ( 4,500 )
Total shareholders' funds 370,683 60,600

For the financial 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.

Directors' responsibilities:

The financial statements of Progress Land (Sandford) Limited (registered number: 10069495) were approved and authorised for issue by the Board of Directors on 23 July 2025. They were signed on its behalf by:

Mr G R Fincham
Director
PROGRESS LAND (SANDFORD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
PROGRESS LAND (SANDFORD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Progress Land (Sandford) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor, Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom. The principal place of business is 1 Fairmantle Street, Truro, Cornwall, TR1 2LP.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of land and provision of services in the ordinary course of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Stocks

2024 2023
£ £
Work in progress 0 95,000

4. Debtors

2024 2023
£ £
Other debtors 716,440 100

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 1,141 0
Accruals 243,321 850
Taxation and social security 101,861 0
Other creditors 0 33,650
346,323 34,500

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and not yet paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

Other related party transactions

During the current and previous year a loan account existed between Progress Land (Sandford) Limited and another company in which the directors are directors and shareholders.

The loan is interest free and repayable when the company is in a suitable financial position.

At the year end £Nil (2023 - £33,650) was owed by Progress Land (Sandford) Limited and is shown in other creditors.

At the year end £716,340 (2023 - £Nil) was owed to Progress Land (Sandford) Limited and is shown in other debtors.

8. Other reserves

Other reserves consist of a capital contribution of £65,000.