Abbreviated Company Accounts - BIOENERGON GREEN ENERGY LTD

1Accounting Policies

Basis of measurement and preparation of accounts
Accounting convention:
The financial statements have been prepared under the historical cost convention.

Tangible fixed assets:
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery 15%

Deferred tax:
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Foreign currencies:
Assets and liabilities in foreign currencies are translated into Euro at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into Euro at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Compliance with accounting standards:
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Going concern:
The financial statements are prepared on the basis of the going concern, which assumes that the company will be in operational existence for the foreseeable future. This depends upon continued support of the shareholders. The financial statements do not include any adjustments that would result if such support is withdrawn.

CONTROL:
The ultimate controlling party is Mr E. Schmitz by virtue of his 100% shareholding in the company.

Allotted, issued and fully paid
Number: 1,000
Class:
Ordinary Shares
Nominal Value: £ 1.00
31.3.14
€ 1,107
31.3.13
€ 1,107