Company No: 04451378 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.03.2025		31.03.2024
		£		£
Current assets
Debtors	3	110,403		101,297
Investments	4	1		1
Cash at bank and in hand		2		2
		110,406		101,300
Net current assets		110,406		101,300
Total assets less current liabilities		110,406		101,300
Net assets		110,406		101,300
Capital and reserves
Called-up share capital	5	2		2
Profit and loss account		110,404		101,298
Total shareholders' funds		110,406		101,300

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Progressive Independent Advisers Limited (registered number: 04451378) were approved and authorised for issue by the Director on 17 September 2025. They were signed on its behalf by:

R F Chamberlayne Director

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 period, unless otherwise stated.

General information and basis of accounting

Progressive Independent Advisers 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 Unit 9 The Granary, Steadings Business Centre Church Road, Maisemore, GL2 8EY, United Kingdom.

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 £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The prior year financial statements were presented for a period of less than 12 months to align the period end with a connected entity. Therefore comparative information presented in the financial statements is not entirely comparable.

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 Statement of Financial Position date.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	Year ended 31.03.2025		Period from 01.05.2023 to 31.03.2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Debtors

	31.03.2025		31.03.2024
	£		£
Amounts owed by connected companies	109,269		100,163
Other debtors	1,134		1,134
	110,403		101,297

4. Current asset investments

	31.03.2025		31.03.2024
	£		£
Other investments – at cost less impairment	1		1

5. Called-up share capital

	31.03.2025		31.03.2024
	£		£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each	2		2