Abbreviated Company Accounts - PROGRESSIVE MILK PRODUCERS LIMITED

PROGRESSIVE MILK PRODUCERS LIMITED - Company Information

02189133 PROGRESSIVE MILK PRODUCERS LIMITED 2014-12-31 false 2014-01-01 2014-12-31 true 02189133 2014-01-01 2014-12-31 02189133 2014-12-31 02189133 2013-12-31 02189133 uk-gaap-cd-bus:Director1 2014-01-01 2014-12-31 02189133 uk-gaap-cd-bus:Director2 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-31 iso4217:GBP shares

Registered Number 02189133

PROGRESSIVE MILK PRODUCERS LIMITED

Abbreviated Accounts

31 December 2014

PROGRESSIVE MILK PRODUCERS LIMITED Registered Number 02189133

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	847,118	846,743
Investments	3	1	1
		847,119	846,744
Current assets
Stocks		15,000	15,952
Debtors		3,968	3,493
Investments		19,995	-
Cash at bank and in hand		136,890	146,761
		175,853	166,206
Creditors: amounts falling due within one year	4	(535,135)	(517,087)
Net current assets (liabilities)		(359,282)	(350,881)
Total assets less current liabilities		487,837	495,863
Total net assets (liabilities)		487,837	495,863
Capital and reserves
Called up share capital	5	200,000	200,000
Revaluation reserve		359,284	359,284
Profit and loss account		(71,447)	(63,421)
Shareholders' funds		487,837	495,863

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 6 April 2015

And signed on their behalf by:
J H W Davis, Director

PROGRESSIVE MILK PRODUCERS LIMITED Registered Number 02189133

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold Land not depreciated
Plant and machinery 15% on cost
Fixtures, fittings & equipment 15% on cost
Motor vehicles 25% on cost

Valuation information and policy
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

2Tangible fixed assets

	£
Cost
At 1 January 2014	859,857
Additions	2,803
Disposals	(14,526)
Revaluations	-
Transfers	-
At 31 December 2014	848,134
Depreciation
At 1 January 2014	13,114
Charge for the year	1,964
On disposals	(14,062)
At 31 December 2014	1,016
Net book values
At 31 December 2014	847,118
At 31 December 2013	846,743

3Fixed assets Investments
Fixed asset investments are stated at cost less provision for diminution in value.
Current asset investments are stated at the lower of cost and net realisable value.

4Creditors

	2014 £	2013 £
Secured Debts	0	408,768

5Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
200,000 Ordinary shares of £1 each	200,000	200,000