1 May 2024 v2025.83.1 limited_company_frs_102_section_1a_v1_1_3 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP090241192024-05-012025-04-30090241192025-04-30090241192024-04-3009024119core:WithinOneYear2025-04-3009024119core:WithinOneYear2024-04-3009024119core:AfterOneYear2024-04-3009024119core:ShareCapital2025-04-3009024119core:ShareCapital2024-04-3009024119core:RetainedEarningsAccumulatedLosses2025-04-3009024119core:RetainedEarningsAccumulatedLosses2024-04-3009024119bus:Director12024-05-012025-04-3009024119bus:RegisteredOffice2024-05-012025-04-3009024119core:LandBuildings2024-05-012025-04-3009024119core:FurnitureFittingsToolsEquipment2024-05-012025-04-3009024119core:MotorVehicles2024-05-012025-04-30090241192023-05-012024-04-3009024119core:LandBuildings2024-05-0109024119core:PlantMachinery2024-05-01090241192024-05-0109024119core:PlantMachinery2024-05-012025-04-3009024119core:LandBuildings2025-04-3009024119core:PlantMachinery2025-04-3009024119core:PlantMachinery2024-04-300902411912024-05-012025-04-3009024119countries:EnglandWales2024-05-012025-04-3009024119bus:AuditExemptWithAccountantsReport2024-05-012025-04-3009024119bus:PrivateLimitedCompanyLtd2024-05-012025-04-3009024119bus:SmallEntities2024-05-012025-04-3009024119bus:FullAccounts2024-05-012025-04-30
Company registration number:
09024119
Progress Leisure Ltd
Unaudited Filleted Financial Statements for the year ended
30 April 2025
Progress Leisure Ltd
Statement of Financial Position
30 April 2025
20252024
Note££
Fixed assets    
Tangible assets 5
38,596
 
51,052
 
Current assets    
Stocks
12,000
 
12,500
 
Debtors 6
16,395
 
16,350
 
Cash at bank and in hand
1,962
 
9,730
 
30,357
 
38,580
 
Creditors: amounts falling due within one year 7
(95,387
 )
(100,505
 )
Net current liabilities
(65,030
 )
(61,925
 )
Total assets less current liabilities (26,434 ) (10,873 )
Creditors: amounts falling due after more than one year 8 -  
(5,431
 )
Net liabilities
(26,434
 )
(16,304
 )
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
(26,534
 )
(16,404
 )
Shareholders deficit
(26,434
 )
(16,304
 )
For the year ending
30 April 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 year in question in accordance with section 476;
  • The director acknowledges 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.
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
22 July 2025
, and are signed on behalf of the board by:
Mr David Goodwin
Director
Company registration number:
09024119
Progress Leisure Ltd
Notes to the Financial Statements
Year ended
30 April 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
98 Lancaster Road
,
Newcastle Under Lyme
,
Staffordshire
,
ST5 1DS
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to 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.

Going concern

In the view of the directors the company will continue in operational existence and will be able to meet its liabilities as they fall due and thus the financial statements have been prepared on the going concern basis.

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Straight line over the life of the lease
Fixtures, fittings and equipment
20% straight line
Motor vehicles
25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

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 entity 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.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.

4 Average number of employees

The average number of persons employed by the company during the year was
13
(2024:
19.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 May 2024
28,446
 
143,404
 
171,850
 
Additions -  
7,286
 
7,286
 
At
30 April 2025
28,446
 
150,690
 
179,136
 
Depreciation      
At
1 May 2024
28,446
 
92,352
 
120,798
 
Charge -  
19,742
 
19,742
 
At
30 April 2025
28,446
 
112,094
 
140,540
 
Carrying amount      
At
30 April 2025
 -  
38,596
 
38,596
 
At 30 April 2024 -  
51,052
 
51,052
 

6 Debtors

20252024
££
Trade debtors
170
 
1,199
 
Amounts owed by group undertakings and undertakings in which the company has a participating interest
4,828
 
6,252
 
Other debtors
11,397
 
8,899
 
16,395
 
16,350
 

7 Creditors: amounts falling due within one year

20252024
££
Trade creditors
2,327
 
11,992
 
Taxation and social security
6,726
 
11,572
 
Other creditors
86,334
 
76,941
 
95,387
 
100,505
 
The brewery loan and bank overdraft are secured.

8 Creditors: amounts falling due after more than one year

20252024
££
Other creditors -  
5,431
 

9 Off-balance sheet arrangements

As reflected within these Financial Statements the company has reported a trading loss for the year in the sum of £9,131 (2024 £766) and has a deficiency in net assets of £25,435 (2024: £16,304).
Assuming the continuing financial support of the company's director, it is the Directors view that the company will continue in operational existence in the foreseeable future and will be able to meet its liabilities as they fall due.

11 Controlling party

The company is under the control of Mr David Goodwin by virtue of his majority shareholding therein.