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Financial Statements |
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for the Year Ended 31 October 2018 |
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for |
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PROGRESSIVE LETS LIMITED |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 October 2018 |
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for |
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PROGRESSIVE LETS LIMITED |
PROGRESSIVE LETS LIMITED (REGISTERED NUMBER: 07398986) |
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Contents of the Financial Statements |
for the Year Ended 31 October 2018 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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PROGRESSIVE LETS LIMITED |
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Company Information |
for the Year Ended 31 October 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
42 Lytton Road |
Barnet |
Hertfordshire |
EN5 5BY |
PROGRESSIVE LETS LIMITED (REGISTERED NUMBER: 07398986) |
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Abridged Balance Sheet |
31 October 2018 |
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31.10.18 | 31.10.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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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. |
PROGRESSIVE LETS LIMITED (REGISTERED NUMBER: 07398986) |
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Abridged Balance Sheet - continued |
31 October 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
signed on its behalf by: |
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PROGRESSIVE LETS LIMITED (REGISTERED NUMBER: 07398986) |
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Notes to the Financial Statements |
for the Year Ended 31 October 2018 |
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1. | STATUTORY INFORMATION |
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Progressive Lets Limited is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are |
measured at cost less any accumulated amortisation and any accumulated impairment |
losses. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over |
the period of the lease. |
PROGRESSIVE LETS LIMITED (REGISTERED NUMBER: 07398986) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 November 2017 |
and 31 October 2018 |
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AMORTISATION |
At 1 November 2017 |
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Amortisation for year |
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At 31 October 2018 |
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NET BOOK VALUE |
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At 31 October 2018 |
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At 31 October 2017 |
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5. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 November 2017 |
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Additions |
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At 31 October 2018 |
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DEPRECIATION |
At 1 November 2017 |
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Charge for year |
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At 31 October 2018 |
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NET BOOK VALUE |
At 31 October 2018 |
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At 31 October 2017 |
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PROGRESSIVE LETS LIMITED (REGISTERED NUMBER: 07398986) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2018 |
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6. | CALLED UP SHARE CAPITAL |
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**ERROR - CONFLICTS FOUND BETWEEN POSTINGS AND SHARE REGISTER - PLEASE REVIEW |
EXCEPTION REPORT (EXR). |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.18 | 31.10.17 |
value: | £ | £ |
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Ordinary A | 0.001 | p | 65 | 65 |
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Ordinary B | 0.001 | p | 35 | 35 |
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Ordinary C | 0.001 | p | - | - |
100 | 100 |
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7. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £172,127 (2017 - £170,063) were paid to the directors . |
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During the year a loan account existed between the company and Progressive Property |
Limited, a company in which the directors Mr M A Homer and Mr R F Moore have an |
interest. At the balance sheet date the company was due £626 (2017: £28,927) from |
Progressive Property Limited. The balance is interest free and repayable on demand. |
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During the year a loan account existed between the company and Progressive Property |
Ventures LLP, a partnership in which the directors Mr M A Homer and Mr R F Moore are |
designated members At the balance sheet date the company owed £8,367 (2017: £49,174) |
to Progressive Property Ventures LLP. The balance is interest free and repayable on |
demand. |
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During the year a loan account existed between the company and two directors Mr M A |
Homer and Mr R F Moore. At the balance sheet date the company owed £Nil (2017: £1,000) |
to each director. The balances are interest free and repayable on demand. |