Progen Stainless Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—3

Registered number: 05705911

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		112		140

			112		140
CURRENT ASSETS
Debtors	5	919		301
Cash at bank and in hand		725		1,572

		1,644		1,873
Creditors: Amounts Falling Due Within One Year	6	(171,602 )		(154,877 )

NET CURRENT ASSETS (LIABILITIES)			(169,958 )		(153,004 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(169,846 )		(152,864 )

NET LIABILITIES			(169,846 )		(152,864 )

CAPITAL AND RESERVES
Called up share capital			1		1
Profit and Loss Account			(169,847 )		(152,865 )

SHAREHOLDERS' FUNDS			(169,846)		(152,864)

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr A Mansfield

Director

5th November 2025

The notes on pages 2 to 3 form part of these financial statements.

1. General Information

Progen Stainless Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05705911 . The registered office is Studio 2 Waterside Court Third Avenue, Centrum One Hundred, Burton-On-Trent, Staffs, DE14 2WQ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% on reducing balance
Computer Equipment	33% on cost

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: 1)

4. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 March 2024	1,280	1,458	2,738

As at 28 February 2025	1,280	1,458	2,738

Depreciation
As at 1 March 2024	1,140	1,458	2,598
Provided during the period	28	-	28

As at 28 February 2025	1,168	1,458	2,626

Net Book Value
As at 28 February 2025	112	-	112

As at 1 March 2024	140	-	140

5. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	919	301

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	56	44
Other creditors	171,546	154,833

	171,602	154,877

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Progen Stainless Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

7. Related Party Transactions

The company owes the director £171,076 (2024: £154,384). The director is not expecting the loan to be repaid in the forseeable future.

8. Ultimate Controlling Party

The company's ultimate controlling party is A Mansfield by virtue of his ownership of the issued share capital in the company.

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