ABRIGO LIMITED |
Notes to the Accounts |
for the year ended 31 December 2021 |
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1 |
Accounting policies |
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Basis of preparation |
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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). |
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Turnover |
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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. 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. |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Foreign currency translation |
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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. |
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2 |
Employees |
2021 |
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2020 |
Number |
Number |
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Average number of persons employed by the company |
- |
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- |
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3 |
Investments |
Investments in |
subsidiary |
undertakings |
US$ |
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Cost |
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At 1 January 2021 |
1 |
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At 31 December 2021 |
1 |
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4 |
Debtors |
2021 |
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2020 |
US$ |
US$ |
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Trade debtors |
149,582 |
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185,992 |
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5 |
Creditors: amounts falling due within one year |
2021 |
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2020 |
US$ |
US$ |
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Trade creditors |
3,280,500 |
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1,346,927 |
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Corporation tax |
81,608 |
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6,441 |
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Other creditors |
- |
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85,437 |
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3,362,108 |
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1,438,805 |
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6 |
Other information |
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ABRIGO LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
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5th Floor Charles House |
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108-110 Finchley Road |
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London |
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NW3 5JJ |