Progressive Limited - Accounts to registrar (filleted) - small 18.2
Progressive Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
PROGRESSIVE LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
PROGRESSIVE LIMITED (REGISTERED NUMBER: 01989942) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2019 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PROGRESSIVE LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 March 2019 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
& Statutory Auditors |
Hilden Park House |
79 Tonbridge Road |
Hildenborough |
Tonbridge |
Kent |
TN11 9BH |
PROGRESSIVE LIMITED (REGISTERED NUMBER: 01989942) |
ABRIDGED BALANCE SHEET |
31 March 2019 |
31/3/19 | 31/3/18 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on by: |
PROGRESSIVE LIMITED (REGISTERED NUMBER: 01989942) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2019 |
1. | STATUTORY INFORMATION |
Progressive Limited is a |
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 the provisions of Section 1A "Small Entities" |
of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of |
Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost |
convention modified by the inclusion of certain fair values as required by FRS 102. |
Turnover - services, measured by costs incurred |
Turnover is measured at the value of the consideration received or receivable, net of discounts and value added |
taxes, from the rendering of plastering services. Turnover from the rendering of plastering services is recognised |
according to the stage of completion of the contract. The stage of completion of a plastering contract if measured |
by comparing the costs incurred for work performed to date to the total estimated costs of completing the |
contract. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract |
cannot be estimated reliably. |
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. |
Taxation |
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. |
Leased assets |
Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet and depreciated |
over their expected useful lives. The interest element of leasing payments made under them are charged to the |
profit and loss account over the period of the lease. All other leases are regarded as operating leases and the |
payments made under them are charged to the profit and loss account on a straight line basis over the lease term. |
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 the income statement in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
PROGRESSIVE LIMITED (REGISTERED NUMBER: 01989942) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2019 |
4. | SECURED DEBTS |
The bank holds a debenture in its standard form dated 17 March 2006 incorporating a fixed and floating charge |
over the assets of the Progressive Group. There is no liability in these company accounts to which this charge |
relates. |
5. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
Dated 19th December 2019. |
6. | CONTINGENT LIABILITIES |
The Company may be held jointly liable with other group companies for any amounts due under an Omnibus |
Guarantee and Set-Off Agreement dated 17 March 2006. There is no liability in these company accounts to |
which this Set-Off Agreement applies. |
7. | RELATED PARTY DISCLOSURES |
The Progressive Group Limited is the parent by virtue of its 100% ownership of Progressive Limited. The group |
draw up consolidated accounts for the year ended 31 March 2019, which can be obtained from the registered |
office: |
Hilden Park House |
79 Tonbridge Road |
Hildenborough |
Kent |
TN11 9BH |