Progressive Electrical Limited 05/04/2025 iXBRL

Company registration number: 07716522

Progressive Electrical Limited

Trading as Progressive Electrical Limited

Unaudited filleted financial statements

05 April 2025

Progressive Electrical Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Progressive Electrical Limited

Directors and other information


	Directors	Mr Russel Jones
		Mr Oliver Pack


	Company number	07716522


	Registered office	Unit 5 Old Amersham Farm
		High Street, Old Amersham
		Buckinghamshire
		England
		HP7 0HR


	Accountants	Careane Wallace
		Bromley Old Town Hall
		30 Tweedy Road
		Bromley Road
		Bromley
		BR1 3FE

Progressive Electrical Limited

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Progressive Electrical Limited

Year ended 5 April 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Progressive Electrical Limited for the year ended 5 April 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of Progressive Electrical Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Progressive Electrical Limited and state those matters that we have agreed to state to the board of directors of Progressive Electrical Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Progressive Electrical Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Progressive Electrical Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Progressive Electrical Limited. You consider that Progressive Electrical Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Progressive Electrical Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Careane Wallace

ACA

Bromley Old Town Hall

30 Tweedy Road

Bromley Road

Bromley

BR1 3FE

8 December 2025

Progressive Electrical Limited

Statement of financial position

5 April 2025

		2025		2024
	Note	£	£	£	£

Current assets
Stocks		1,020		1,000
Debtors	5	18,263		4,459
Cash at bank and in hand		9,331		20,412
		_______		_______
		28,614		25,871
Creditors: amounts falling due
within one year	6	( 17,825)		( 23,910)
		_______		_______
Net current assets			10,789		1,961
			_______		_______
Total assets less current liabilities			10,789		1,961

			_______		_______
Net assets			10,789		1,961
			_______		_______

Capital and reserves
Called up share capital			2		2
Profit and loss account			10,787		1,959
			_______		_______
Shareholders funds			10,789		1,961
			_______		_______

For the year ending 05 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 08 December 2025 , and are signed on behalf of the board by:

Mr Russel Jones

Director

Company registration number: 07716522

Progressive Electrical Limited

Notes to the financial statements

Year ended 5 April 2025

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is Unit 5 Old Amersham Farm, High Street, Old Amersham, Buckinghamshire, England, HP7 0HR.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Debtors

	2025	2024
	£	£
Trade debtors	10,267	620
Other debtors	7,996	3,839
	_______	_______
	18,263	4,459
	_______	_______

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Corporation tax	15,748	21,628
Other creditors	2,077	2,282
	_______	_______
	17,825	23,910
	_______	_______