REGISTERED NUMBER: 06972338 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2025

for

Progress Engineering Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr D G Dickson

REGISTERED OFFICE:

Unit G

36 Normandy Way

Bodmin

PL31 1EX

REGISTERED NUMBER:

06972338 (England and Wales)

ACCOUNTANTS:

Dalton Pardoe Limited

Chartered Accountants

794 High Street

Kingswinford

West Midlands

DY6 8BQ

FIXED ASSETS

Tangible assets

4

166,167

217,659

CURRENT ASSETS

Stocks

283,531

172,156

Debtors

5

1,125,843

652,924

Cash in hand

375,489

644,645

1,784,863

1,469,725

CREDITORS

Amounts falling due within one year

6

453,050

257,258

NET CURRENT ASSETS

1,331,813

1,212,467

TOTAL ASSETS LESS CURRENT LIABILITIES

1,497,980

1,430,126

CREDITORS

Amounts falling due after more than one year

7

(1,387

)

(2,027

)

PROVISIONS FOR LIABILITIES

(37,905

)

(44,803

)

NET ASSETS

1,458,688

1,383,296

CAPITAL AND RESERVES

Called up share capital

8

60

60

Share premium

9

102,525

102,525

Capital redemption reserve

9

5

5

Retained earnings

9

1,356,098

1,280,706

SHAREHOLDERS' FUNDS

1,458,688

1,383,296

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 22 July 2026 and were signed by:

Mr D G Dickson - Director

1.	STATUTORY INFORMATION

Progress Engineering 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.

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

-

20% on cost

Motor vehicles

-

33% on cost

Computer equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2024 - 32 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 August 2024

913,378

54,395

26,851

994,624

Additions

46,436

-

2,404

48,840

At 31 July 2025

959,814

54,395

29,255

1,043,464

DEPRECIATION

At 1 August 2024

732,701

23,940

20,324

776,965

Charge for year

78,150

18,132

4,050

100,332

At 31 July 2025

810,851

42,072

24,374

877,297

NET BOOK VALUE

At 31 July 2025

148,963

12,323

4,881

166,167

At 31 July 2024

180,677

30,455

6,527

217,659

5.

DEBTORS

31.7.25

31.7.24

£

£

Amounts falling due within one year:

Trade debtors

691,797

641,229

Amounts owed by group undertakings

374,000

-

Other debtors

53,345

5,738

Prepayments and accrued income

5,243

5,957

1,124,385

652,924

Amounts falling due after more than one year:

Other debtors

1,458

-

Aggregate amounts

1,125,843

652,924

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Trade creditors

205,666

106,376

Tax

38,970

9,331

Social security and other taxes

25,083

117,822

VAT

113,276

-

Other creditors

51,992

4,232

Accruals and deferred income

17,423

18,857

Government grants

640

640

453,050

257,258

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.25

31.7.24

£

£

Other creditors

1,387

2,027

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.25

31.7.24

value:

£

£

15

Ordinary A

£1.00

15

15

35

Ordinary B

£1.00

35

35

10

Ordinary C

£1.00

10

10

60

60

9.

RESERVES

Capital

Retained

Share

redemption

earnings

premium

reserve

Totals

£

£

£

£

At 1 August 2024

1,280,706

102,525

5

1,383,236

Profit for the year

89,802

89,802

Dividends

(14,410

)

(14,410

)

At 31 July 2025

1,356,098

102,525

5

1,458,628

10.	RELATED PARTY DISCLOSURES

The company is wholly owned by Dickson Mechanical Fasteners Limited a company registered in England and Wales.

In the year under review Progress Engineerings Limited paid dividends to Dickson Group Holdings Limited totalling £8,410.

As at the balance sheet date Progress Engineering Limited was owed £374,000 by Dickson Mechanical Fasteners Limited.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dickson Mechanical Fasteners Ltd.