Pro-Gresh Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07109801 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2016

for

Pro-Gresh Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

K Gresham

Mrs D Gresham

REGISTERED OFFICE:

25 Broadway

St Thomas

Exeter

Devon

EX2 9LU

REGISTERED NUMBER:

07109801 (England and Wales)

ACCOUNTANTS:

Kirk Hills Chartered Accountants

5 Barnfield Crescent

Exeter

Devon

EX1 1QT

FIXED ASSETS

Tangible assets

4

6,134

3,433

CURRENT ASSETS

Stocks

7,824

16,761

Debtors

5

14,580

51,877

Cash at bank

71,062

50,614

93,466

119,252

CREDITORS

Amounts falling due within one year

6

70,442

100,187

NET CURRENT ASSETS

23,024

19,065

TOTAL ASSETS LESS CURRENT LIABILITIES

29,158

22,498

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

29,058

22,398

SHAREHOLDERS' FUNDS

29,158

22,498

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 25 September 2017 and were signed on its behalf by:

K Gresham - Director

1.	STATUTORY INFORMATION

Pro-Gresh 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover represents net invoiced sales of electrical, data and fibre optic installations, excluding value added tax.

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 etc

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Financial instruments

(i) Financial assets

Basic financial assets, including trade and other debtors are initially recognised at the transaction price and

therefore stated at amortisation cost using the effective interest method, less impairment losses for bad and

doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated

at cost less impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are

settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another

party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has

been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third

party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans and other loans are initially recognised

at transaction price, unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of

business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If

not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and

subsequently measured at amortisation cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is

discharged, cancelled or expires.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2016

16,025

Additions

4,526

At 31 December 2016

20,551

DEPRECIATION

At 1 January 2016

12,592

Charge for year

1,825

At 31 December 2016

14,417

NET BOOK VALUE

At 31 December 2016

6,134

At 31 December 2015

3,433

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

9,736

48,194

Other debtors

4,844

3,683

14,580

51,877

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

261

705

Taxation and social security

15,771

22,073

Other creditors

54,410

77,409

70,442

100,187

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £31,000 (2015 - £49,000) were paid to the directors .

8.	ULTIMATE CONTROLLING PARTY

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Pro-Gresh Limited for the year ended 31 December 2016 which comprise the Income Statement,

Balance Sheet and the related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Pro-Gresh Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pro-Gresh Limited and state those matters that we have agreed to state to the Board of Directors of Pro-Gresh Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pro-Gresh Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Pro-Gresh Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pro-Gresh Limited. You consider that Pro-Gresh Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pro-Gresh Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kirk Hills Chartered Accountants

5 Barnfield Crescent

Exeter

Devon

EX1 1QT

Date: .............................................