Progressive Financial Planning Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03761061 (England and Wales)

Financial Statements for the Year Ended 31 March 2018

for

Progressive Financial Planning Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTORS:

Mr I K Runcie

Mr D R Brown

SECRETARY:

Mr I K Runcie

REGISTERED OFFICE:

1 Victoria Street

Dunstable

Bedfordshire

LU6 3AZ

REGISTERED NUMBER:

03761061 (England and Wales)

FIXED ASSETS

Tangible assets

4

2,775

4,870

CURRENT ASSETS

Work in progress

14,888

18,610

Debtors

5

18,588

20,886

Cash at bank

104,900

55,257

138,376

94,753

CREDITORS

Amounts falling due within one year

6

(64,184

)

(52,463

)

NET CURRENT ASSETS

74,192

42,290

TOTAL ASSETS LESS CURRENT LIABILITIES

76,967

47,160

CAPITAL AND RESERVES

Called up share capital

20,600

20,500

Retained earnings

56,367

26,660

SHAREHOLDERS' FUNDS

76,967

47,160

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 9 May 2018 and were signed on its behalf by:

Mr I K Runcie - Director

1.	STATUTORY INFORMATION

Progressive Financial Planning 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.

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

The turnover shown in the profit and loss account represents amounts invoiced during the year.

Tangible fixed assets

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

Fixtures, Fittings & Equipment

-

25% on cost

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on a normal level of

activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the

valuation of work in progress.

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.

Pensions

The company makes contributions on behalf of the directors to a personal pension scheme and the pension

charge represents the amounts paid by the company to the fund in respect of the period.

Fixed assets

All fixed assets are initially recorded at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

Fittings

& Equipmen

£

COST

At 1 April 2017

38,282

Additions

510

At 31 March 2018

38,792

DEPRECIATION

At 1 April 2017

33,412

Charge for year

2,605

At 31 March 2018

36,017

NET BOOK VALUE

At 31 March 2018

2,775

At 31 March 2017

4,870

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

13,686

15,540

Other debtors

4,902

5,346

18,588

20,886

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

2,353

1,283

Trade creditors

2,387

952

Taxation and social security

54,483

46,487

Other creditors

4,961

3,741

64,184

52,463