FGS Energy Limited
Notes to the financial statements
For the year ended 30 April 2024
FGS Energy Limited is a private limited company limited by shares incorporated in England and Wales with registration number 11244367. The address of the registered office is Stanford Bridge Farm, Pluckley, Ashford, Kent, TN27 0RU.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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The average monthly number of employees, including the directors, during the year was as follows:
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During the year the company purchased plant for £310,025 with intention to sell in the near future.
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Amounts owed by group undertakings
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Prepayments and accrued income
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