Registered number
09488131
ProGlide Group Limited
Unaudited Filleted Accounts
31 December 2024
ProGlide Group Limited
Registered number: 09488131
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 405,437 378,909
Current assets
Stocks - 60,629
Debtors 4 7,378 13,201
Cash at bank and in hand 39,748 12,521
47,126 86,351
Creditors: amounts falling due within one year 5 (181,094) (218,742)
Net current liabilities (133,968) (132,391)
Total assets less current liabilities 271,469 246,518
Creditors: amounts falling due after more than one year 6 (157,316) (204,769)
Net assets 114,153 41,749
Capital and reserves
Called up share capital 2 2
Profit and loss account 114,151 41,747
Shareholders' funds 114,153 41,749
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Pritchard
Director
Approved by the board on 24 September 2025
ProGlide Group Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery over 3 years
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 319,445 19,385 73,968 412,798
Additions - 2,100 60,762 62,862
At 31 December 2024 319,445 21,485 134,730 475,660
Depreciation
At 1 January 2024 2,224 10,862 20,803 33,889
Charge for the year 7,184 5,732 23,418 36,334
At 31 December 2024 9,408 16,594 44,221 70,223
Net book value
At 31 December 2024 310,037 4,891 90,509 405,437
At 31 December 2023 317,221 8,523 53,165 378,909
4 Debtors 2024 2023
£ £
Other debtors 7,378 13,201
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans 37,000 37,000
Obligations under hire purchase contracts 15,950 8,864
Trade creditors 21,600 70,211
Taxation and social security costs 24,600 -
Other creditors 81,944 102,667
181,094 218,742
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 73,198 159,062
Obligations under hire purchase contracts 84,118 45,707
157,316 204,769
The loan contains fixed and floating charges over all property or undertakings of the company. Hire purchase agreements are secured against the item to which they relate.
7 Controlling party
The company is not under the control of any one shareholder.
8 Other information
ProGlide Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Kingfisher Business Park
Arthur Street, Lakeside
Redditch
Worcestershire
B98 8LG
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