GREEN FROG POWER (LIVESEY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
Green Frog Power (Livesey) Limited is a private company limited by shares and is incorporated in England and Wales. Its registered number is 14881176. The registered office is Gables Lodge, 62 Kenilworth Road, Leamington Spa, CV32 6JX.
2.Accounting policies
|
|
Basis of preparation of financial statements
|
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 financial statements comprise the unaudited financial statements of the Company and are stated in pound sterling, the Company's functional and presentational currency.
The following principal accounting policies which have been applied consistently throughout the period are set out below.
Work in progress relates to costs incurred for projects currently in initial stages of development. Cost is measured at transaction price. Costs are expensed to the Income Statement as soon as a project is no longer viable.
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.
|
|
Cash and cash equivalents
|
Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
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.
The Company has no employees and there were £Nil staff costs during the year.
The Directors did not receive any renumeration from the Company but were renumerated by their respective employing entity.
|