REGISTERED NUMBER: 10755625 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Progressive Acceleration Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M F G Nicholls

R C A Leclercq

REGISTERED OFFICE:

Floor 1 26 - 29 St. Cross Street

London

England

EC1N 8UH

REGISTERED NUMBER:

10755625 (England and Wales)

AUDITORS:

KJA Kilner Johnson Ltd (Statutory Auditors)

Network House

Stubs Beck Lane

Cleckheaton

BD19 4TT

FIXED ASSETS

Tangible assets

4

-

41,924

CURRENT ASSETS

Debtors

5

256,858

38,955

Cash at bank

20

273,162

256,878

312,117

CREDITORS

Amounts falling due within one year

6

71,073

105,549

NET CURRENT ASSETS

185,805

206,568

TOTAL ASSETS LESS CURRENT LIABILITIES

185,805

248,492

CREDITORS

Amounts falling due after more than one year

7

-

(30,894

)

PROVISIONS FOR LIABILITIES

(6,797

)

(10,481

)

NET ASSETS

179,008

207,117

CAPITAL AND RESERVES

Called up share capital

59

59

Capital redemption reserve

(89,482

)

(89,482

)

Retained earnings

268,431

296,540

179,008

207,117

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 September 2025 and were signed on its behalf by:

R C A Leclercq - Director

1.	STATUTORY INFORMATION

Progressive Acceleration 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.

The financial statements have been prepared on a break-up basis, refer to Note 12.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 - 3 ).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

73,935

Disposals

(14,445

)

Reclassification/transfer

(59,490

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

32,011

Charge for year

10,480

Eliminated on disposal

(10,189

)

Reclassification/transfer

(32,302

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

41,924

Fixed assets have been reclassified as current assets in line with the break up basis.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

38,955

Amounts owed by group undertakings

229,275

-

Motor Vehicle Asset

27,583

-

256,858

38,955

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

41

-

Hire purchase contracts

32,166

8,217

Trade creditors

-

720

Amounts owed to group undertakings

-

15,000

Taxation and social security

32,866

65,483

Other creditors

6,000

16,129

71,073

105,549

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

-

30,894

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

The Report of the Auditors was unqualified.

Samantha Hutton FCCA (Senior Statutory Auditor)

for and on behalf of KJA Kilner Johnson Ltd (Statutory Auditors)

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company and group is CEP V Investment 36 S.à r.l., a private limited liability company incorporated in Luxembourg with a registered office at 2, Ave Charles de Gaulle, 1653 Luxembourg, Grand Duchy of Luxembourg.

10.	GOING CONCERN

The directors intend to liquidate the company within twelve months of signing the financial statements and do not consider it to be a going concern. Accordingly the financial statements have been prepared on a break-up basis.