Accounts filed on 31-03-2014

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			Company registration number:02885150
			PROGROWTH LIMITED
			ABBREVIATED FINANCIAL STATEMENTS
			FOR THE YEAR ENDED 31 March 2014

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PROGROWTH LIMITED
BALANCE SHEET
AS AT 31 March 2014
			2014				2013
		Notes	£		£		£		£
FIXED ASSETS
Investments					608,804				0
Tangible assets		2			0				608,804
					608,804				608,804
CURRENT ASSETS
Cash at bank and in hand			10,717				5,131
			10,717				5,131
CREDITORS
Amounts falling due within one year			(16,384)				(17,551)
NET CURRENT ASSETS					(5,667)				(12,420)
TOTAL ASSETS LESS
CURRENT LIABILITIES					603,137				596,384
Creditors falling due after one year					(442,135)				(457,435)
NET ASSETS					161,002				138,949
CAPITAL AND RESERVES
Called-up equity share capital		3			100				100
Profit and loss account					160,902				138,849
SHAREHOLDERS FUNDS					161,002				138,949
For the year ending 31 March 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 the accounts.
These financial statements have been prepared in accordance with the special provisions relating to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Approved by the board of directors on 2 October 2014 and signed on its behalf.
..........................................................................
R M White
2 October 2014
The annexed notes form part of these financial statements.

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PROGROWTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

1.

Accounting policies

Basis of preparing the financial statements

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

Turnover

Turnover represents charges to external customers exclusive of Value Added Tax and trade discounts.

Deferred taxation

Deferred tax assets and liabilities have arisen from timing differences between the recognition of gains and losses in the financial statements and their recognition in a tax computation. Full provision is made for all liabilities, and provision is made for assets to the extent that they are considered more likely than not to be recoverable in the foreseeable future. Provision is made using tax rates that are expected to apply in the periods in which the timing differences are expected to reverse based upon rates enacted at the balance sheet date.

Investment properties

Investment properties are included in the balance sheet at their open market value, and are not depreciated. Although this accounting policy is in accordance with SSAP 19 'Accounting for Investment Properties', it is a departure from the general requirements of the Companies Act 2006 for all fixed assets with a finite life to be depreciated. In the opinion of the directors compliance with the accounting standard is necessary for the financial statements to give a true and fair view because the properties are held for investment rather than consumption, and therefore systematic annual depreciation would not be appropriate. Surpluses and temporary deficits arising on valuations are taken to revaluation reserve, whilst permanent diminutions in value are taken to the profit and loss account.

2.	Tangible fixed assets
				Total
	Cost
	At start of period			631,572
	Reclassifications			(631,572)
	At end of period			0
	Depreciation
	At start of period			22,768
	Eliminated on transfers			(22,768)
	At end of period			0
	Net Book Value
	At start of period			608,804
	At end of period			0

3.	Share capital				Allotted, issued and fully paid
					2014	2013
					£	£
	Ordinary shares of £1 each				100	100
	Total issued share capital				100	100
4.	Ultimate controlling party
	The company is under the ultimate control of John and Ros White Accumulation & Maintenance Trust, the majority shareholder of the company.