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Company Registration No. 12364162 (England and Wales)
GRAVITY 7 LTD Unaudited accounts for the year ended 31 December 2023
GRAVITY 7 LTD Unaudited accounts Contents
Page
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GRAVITY 7 LTD Company Information for the year ended 31 December 2023
Director
D Allen-Page
Company Number
12364162 (England and Wales)
Registered Office
C/O LIME CORPORATE FINANCE LTD EMBASSY O STANWELL ROAD PENARTH VALE OF GLAMORGAN CF64 2AA WALES
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GRAVITY 7 LTD Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,961 
6,970 
Current assets
Debtors
26,501 
16,209 
Cash at bank and in hand
107,270 
137,815 
133,771 
154,024 
Creditors: amounts falling due within one year
(102,805)
(86,756)
Net current assets
30,966 
67,268 
Total assets less current liabilities
36,927 
74,238 
Creditors: amounts falling due after more than one year
(31,640)
(36,809)
Net assets
5,287 
37,429 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
5,286 
37,428 
Shareholders' funds
5,287 
37,429 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 August 2024 and were signed on its behalf by
D Allen-Page Director Company Registration No. 12364162
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GRAVITY 7 LTD Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
GRAVITY 7 LTD is a private company, limited by shares, registered in England and Wales, registration number 12364162. The registered office is C/O LIME CORPORATE FINANCE LTD EMBASSY O, STANWELL ROAD, PENARTH, VALE OF GLAMORGAN, CF64 2AA, WALES.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% Reducing Balance
Fixtures & fittings
20% Straight Line
Computer equipment
20% Straight Line
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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GRAVITY 7 LTD Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2023
225 
4,417 
5,232 
9,874 
Additions
- 
544 
583 
1,127 
At 31 December 2023
225 
4,961 
5,815 
11,001 
Depreciation
At 1 January 2023
38 
1,683 
1,183 
2,904 
Charge for the year
62 
911 
1,163 
2,136 
At 31 December 2023
100 
2,594 
2,346 
5,040 
Net book value
At 31 December 2023
125 
2,367 
3,469 
5,961 
At 31 December 2022
187 
2,734 
4,049 
6,970 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
3,623 
3,600 
Amounts due from group undertakings etc.
180 
- 
Accrued income and prepayments
9,027 
12,609 
Other debtors
13,671 
- 
26,501 
16,209 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
5,943 
6,098 
VAT
50,961 
33,540 
Trade creditors
5,490 
971 
Taxes and social security
40,090 
45,219 
Other creditors
321 
72 
Loans from directors
- 
856 
102,805 
86,756 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
31,640 
36,809 
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GRAVITY 7 LTD Notes to the Accounts for the year ended 31 December 2023
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
D Allen-Page
DLA
- 
183,527 
169,856 
13,671 
- 
183,527 
169,856 
13,671 
9
Average number of employees
During the year the average number of employees was 4 (2022: 2).
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