Progressive Training Ltd. - Abbreviated accounts 16.1

REGISTERED NUMBER: 02285557 (England and Wales)

PROGRESSIVE TRAINING LTD.

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

A L Alltimes

Mrs A Alltimes

SECRETARY:

Mrs A Alltimes

REGISTERED OFFICE:

3, The Old Brewhouse

Brewhouse Hill

Wheathampstead

Hertfordshire

AL4 8AN

REGISTERED NUMBER:

02285557 (England and Wales)

ACCOUNTANTS:

Miller & Co

Chartered Accountants

2 Victoria Road

Harpenden

Hertfordshire

AL5 4EA

FIXED ASSETS

Tangible assets

2

80,031

81,191

CURRENT ASSETS

Debtors

28,240

20,410

Cash at bank and in hand

856

2,131

29,096

22,541

CREDITORS

Amounts falling due within one year

65,526

32,733

NET CURRENT LIABILITIES

(36,430

)

(10,192

)

TOTAL ASSETS LESS CURRENT LIABILITIES

43,601

70,999

CAPITAL AND RESERVES

Called up share capital

3

600

800

Capital redemption reserve

400

200

Profit and loss account

42,601

69,999

SHAREHOLDERS' FUNDS

43,601

70,999

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 12 September 2016 and were signed on its behalf by:

Mrs A Alltimes - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company net of Value Added Tax

and trade discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on cost and 15% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

121,040

Additions

1,435

Disposals

(2,919

)

At 31 December 2015

119,556

DEPRECIATION

At 1 January 2015

39,849

Charge for year

2,595

Eliminated on disposal

(2,919

)

At 31 December 2015

39,525

NET BOOK VALUE

At 31 December 2015

80,031

At 31 December 2014

81,191

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

1,000

Ordinary

£1

600

800

On 21 April 2015 the Company purchased 200 £1 Ordinary shares for £27,500 as part of a purchase of own

shares scheme. The shares were purchased at market value.

4.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr. A Alltimes and Mrs A Alltimes by virtue of their ownership of 100% of the issued

ordinary share capital in the company.