Company No: 10069495 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Current assets
Debtors	3	472,378		716,440
Cash at bank and in hand		2,464		566
		474,842		717,006
Creditors: amounts falling due within one year	4	( 108,232)		( 346,323)
Net current assets		366,610		370,683
Total assets less current liabilities		366,610		370,683
Net assets		366,610		370,683
Capital and reserves
Called-up share capital	5	100		100
Other reserves	7	65,000		65,000
Profit and loss account		301,510		305,583
Total shareholders' funds		366,610		370,683

For the financial year ending 31 October 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Progress Land (Sandford) Limited (registered number: 10069495) were approved and authorised for issue by the Board of Directors on 21 July 2026. They were signed on its behalf by:

Mr G R Fincham Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Progress Land (Sandford) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is First Floor, Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom. The principal place of business is 1 Fairmantle Street, Truro, Cornwall, TR1 2LP.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have continued to adopt the going concern basis of accounting. The directors, and other related companies, have confirmed their willingness to support the company for the foreseeable future (being not less than 12 months from approval of the financial statements). Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of land and provision of services in the ordinary course of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Debtors

	2025		2024
	£		£
Other debtors	472,378		716,440

4. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	2,428		1,141
Accruals	2,700		243,321
Taxation and social security	103,104		101,861
	108,232		346,323

5. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and not yet paid
100 Ordinary shares of £ 1.00 each	100		100

6. Related party transactions

Other related party transactions

During the current and previous year a loan account existed between Progress Land (Sandford) Limited and another company in which the directors are directors and shareholders.

The loan is interest free and repayable when the company is in a suitable financial position.

At the year end £472,278 (2024 - £716,340) was owed to Progress Land (Sandford) Limited and is shown in other debtors.

7. Other reserves

Other reserves consist of a capital contribution of £65,000.