PROGRESS POWER LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-05-03 (in 1y)
Last made up 2026-04-19
Watchouts
None on the register
Cash
—
Latest balance sheet
Net assets
-£2M
+40.8% vs 2023
Employees
0
Average over period
Profit before tax
£2M
+209% vs 2023
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | — | -£412,000 | |
| Operating profit | — | -£896,000 | |
| Profit before tax | £625,000 | £1,931,000 | |
| Net profit | £1,829,000 | £1,346,000 | |
| Cash | — | — | |
| Total assets less current liabilities | £2,439,000 | £6,315,000 | |
| Net assets | -£3,387,000 | -£2,004,000 | |
| Equity | -£3,387,000 | -£2,004,000 | |
| Average employees | 0 | 0 | |
| Wages | — | — |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | — | 217.5% | |
| Net margin | — | -326.7% | |
| Return on capital employed | — | -14.2% | |
| Current ratio | 0.10x | 0.01x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least 12 months after the date of signing. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.”
Significant events
- “In March 2021, the Company acquired a 15-year Capacity Market contract starting late 2024 to enable the financing, construction and operation of a 299MW OCGT power generation plant. The asset remains under construction as at 31 December 2024 and is expected to be operational in the first half of 2026. This is later than originally planned, primarily due to delays in grid connection by the relevant authorities.”
- “The fixed assets have increased in the year due to the further construction of the site. Property plant and equipment increased by £37,655k to £152,622k (2023: £114,967k).”
- “During the year the Company did not pay or receive any dividends and the Directors do not recommend the payment of a final dividend for the current year (2023: £nil).”
- “There have been no significant post balance sheet events to report.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 17 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| DUNN, Rebecca | Secretary | 2026-03-19 | — | — |
| DAWES, Lee Michael | Director | 2024-08-01 | Jun 1971 | British |
| GARDINER, Dwight Daniel Willard | Director | 2025-09-30 | Jun 1964 | British,American |
| LEMMINK, Frank Hendrikus | Director | 2025-09-30 | Apr 1968 | Dutch |
| PEACOCK, Daniel Andrew | Director | 2026-03-19 | Mar 1979 | British |
| SHEFFIELD, Paul Nathan | Director | 2021-10-27 | Feb 1975 | British |
Show 17 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| GLADDEN, Brett | Secretary | 2019-02-01 | 2025-12-05 |
| LIM, Chee Ying | Secretary | 2014-03-03 | 2015-03-05 |
| LIM, Chee Ying | Secretary | 2014-03-03 | 2016-12-05 |
| MCCALLUM, David | Secretary | 2016-12-05 | 2019-01-31 |
| PINSENT MASONS SECRETARIAL LIMITED | Corporate Secretary | 2013-02-27 | 2014-03-03 |
| BAJOLLE, Denis | Director | 2014-02-25 | 2016-05-03 |
| BEATON, David Robert | Director | 2014-02-25 | 2015-01-08 |
| CAMPBELL, Norman James | Director | 2015-04-30 | 2016-12-05 |
| GRANT, George Malcolm | Director | 2013-02-27 | 2016-12-05 |
| KELLY, Martin Baxter | Director | 2016-08-23 | 2016-12-05 |
| KOSS, Andrew Robert | Director | 2016-12-05 | 2020-04-07 |
| SKELTON, Andrew Keith | Director | 2019-06-20 | 2025-09-30 |
| SMALL, Penelope Louise | Director | 2021-10-27 | 2024-08-01 |
| STACEY, Andrew Paul | Director | 2013-02-27 | 2015-04-30 |
| THIELE, Christopher Allen | Director | 2015-01-08 | 2016-12-05 |
| WATLER, Kevin George | Director | 2016-05-03 | 2016-08-23 |
| WOLF, Jens Price | Director | 2016-12-05 | 2019-06-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Drax Smart Generation Holdco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2017-05-16 | Active |
| Drax Developments Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-12-05 | Ceased 2017-05-16 |
Filing timeline
Last 20 of 93 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-03-23 | AP03 | officers | Appoint person secretary company with name date | |
| 2026-03-23 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-14 | AP01 | officers | Appoint person director company with name date | |
| 2025-12-18 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-10-10 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-09 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-10 | AA | accounts | Accounts with accounts type full | |
| 2025-04-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-08-27 | AA | accounts | Accounts with accounts type full | |
| 2024-08-15 | AP01 | officers | Appoint person director company with name date | |
| 2024-08-01 | TM01 | officers | Termination director company with name termination date | |
| 2024-05-01 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-09-04 | AA | accounts | Accounts with accounts type audit exemption subsiduary | |
| 2023-09-04 | PARENT_ACC | accounts | Legacy | |
| 2023-09-04 | AGREEMENT2 | other | Legacy | |
| 2023-09-04 | GUARANTEE2 | other | Legacy | |
| 2023-04-26 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-07-13 | AA | accounts | Accounts with accounts type audit exemption subsiduary | |
| 2022-07-13 | PARENT_ACC | accounts | Legacy |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 8
- Capital events
- 0
- Officers appointed
- 4
- Officers resigned
- 2
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
—
Not reported
-
Cash
—
Not reported
-
Net assets
+40.8%
-£3,387,000 -£2,004,000
-
Employees
—
Not reported
-
Profit before tax
+209%
£625,000 £1,931,000
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers