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Company No: 03371699 (England and Wales)

ABOGEAR LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

ABOGEAR LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

ABOGEAR LIMITED

BALANCE SHEET

As at 31 December 2023
ABOGEAR LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,071,391 2,071,391
2,071,391 2,071,391
Current assets
Debtors 4 30,924 7,230
Cash at bank and in hand 236,145 39,897
267,069 47,127
Creditors: amounts falling due within one year 5 ( 1,692,666) ( 1,508,914)
Net current liabilities (1,425,597) (1,461,787)
Total assets less current liabilities 645,794 609,604
Creditors: amounts falling due after more than one year 6 ( 16,513) ( 26,263)
Net assets 629,281 583,341
Capital and reserves
Called-up share capital 100 100
Profit and loss account 629,181 583,241
Total shareholders' funds 629,281 583,341

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Abogear Limited (registered number: 03371699) were approved and authorised for issue by the Director on 11 September 2024. They were signed on its behalf by:

Michel Roger Maurer
Director
ABOGEAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
ABOGEAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Abogear Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 14 Nuffield Road Nuffield Industrial Estate, Poole, BH17 0RB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Income from fixed assets investments consists of rental income excluding value added tax. Rental income is accounted for in the period in which it relates.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 2,071,391 2,071,391
At 31 December 2023 2,071,391 2,071,391
Accumulated depreciation
At 01 January 2023 0 0
At 31 December 2023 0 0
Net book value
At 31 December 2023 2,071,391 2,071,391
At 31 December 2022 2,071,391 2,071,391

4. Debtors

2023 2022
£ £
Trade debtors 30,924 7,229
Other debtors 0 1
30,924 7,230

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 652,520 415,239
Taxation and social security 1,812 29,760
Other creditors 1,038,334 1,063,915
1,692,666 1,508,914

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 16,513 26,263

There are no amounts included above in respect of which any security has been given by the small entity.

7. Related party transactions

Sales and Management fees are to companies controlled by Mr M Maurer, a director of the company.