|
STOWMARKET FUELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Stowmarket Fuels Limited is a private Company limited by shares incorporated in England and Wales, registration number 06329512. The registered office is 7 The Close, Norwich, NR1 4DJ.
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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are presented in Sterling (£).
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is provided on the following basis:
The directors have not applied depreciation to freehold property as, in their opinion, the estimated residual value would not be materially different to cost.
|
|
The average monthly number of employees, including directors, during the year was 3 (2023 - 3).
|
|