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FEG LTD

Registered Number
05208565
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2023

FEG LTD
Company Information
for the year from 1 September 2022 to 31 August 2023

Director

WILLIAMS, Christopher John

Registered Address

5 Bede House
Tower Road
Washington
NE37 2SH

Registered Number

05208565 (England and Wales)
FEG LTD
Balance Sheet as at
31 August 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets611,63813,300
Tangible assets7100,21076,212
111,84889,512
Current assets
Debtors9360,233172,515
360,233172,515
Creditors amounts falling due within one year10(338,671)(115,830)
Net current assets (liabilities)21,56256,685
Total assets less current liabilities133,410146,197
Creditors amounts falling due after one year11(108,904)(145,786)
Net assets24,506411
Capital and reserves
Called up share capital11
Profit and loss account24,505410
Shareholders' funds24,506411
The financial statements were approved and authorised for issue by the Director on 7 February 2024, and are signed on its behalf by:
WILLIAMS, Christopher John
Director
Registered Company No. 05208565
FEG LTD
Notes to the Financial Statements
for the year ended 31 August 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Principal activities
The company's principal activity during the year continued to be design and build, project management and consultancy services for industrial developers and contractors.
3.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
4.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery5
Fixtures and fittings5
Vehicles5
Office Equipment5
Intangible assets policy
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20232022
Average number of employees during the year87
6.Intangible assets
Website costs are being written off in equal annual instalments over its estimated economic life of 10 years.

Other

Total

££
Cost or valuation
At 01 September 2216,62516,625
At 31 August 2316,62516,625
Amortisation and impairment
At 01 September 223,3253,325
Charge for year1,6621,662
At 31 August 234,9874,987
Net book value
At 31 August 2311,63811,638
At 31 August 2213,30013,300
7.Property, plant and equipment

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 September 2239,91446,74381,446168,103
Additions-33,2249,93043,154
At 31 August 2339,91479,96791,376211,257
Depreciation and impairment
At 01 September 22-40,28451,60791,891
Charge for year-7,22411,93219,156
At 31 August 23-47,50863,539111,047
Net book value
At 31 August 2339,91432,45927,837100,210
At 31 August 2239,9146,45929,83976,212
8.Further information regarding the company's financial position
The business landscape is still volatile, and challenges remain across the board. However, whilst the effect of BREXIT and the supply chain pressures remain, the outlook for us and our clients is generally improved from the previous year. We reported in the last accounts that our marketing programme was generating good enquires and our orders at that point were encouraging, this has proved to be the case with us showing a significant uplift in turnover. We have shown substantial growth in both our Environmental Technologies and Capital Projects divisions, not just in the UK but we have had a number of overseas projects too and we expect this to continue. We believe we are in a good position to continue this growth and build on the performance of this financial year in line with our Strategic Business Plan.
9.Debtors

2023

2022

££
Trade debtors / trade receivables133,20266,434
Amounts owed by group undertakings9,3566,006
Other debtors96,03010,887
Prepayments and accrued income121,64589,188
Total360,233172,515
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables268,71625,051
Bank borrowings and overdrafts22,21022,375
Amounts owed to related parties19,67220,860
Taxation and social security25,59618,513
Other creditors1,85628,411
Accrued liabilities and deferred income621620
Total338,671115,830
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
11.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts102,759132,936
Other creditors6,14512,850
Total108,904145,786
12.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts6,14512,850
13.Provisions for liabilities
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.