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Registration number: 08379543



Gravitas Property Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Gravitas Property Limited

(Registration number: 08379543)

Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Other financial assets

1

3

Cash at bank and in hand

 

138,323

141,722

 

138,324

141,725

Creditors: Amounts falling due within one year

4

(131,833)

(154,230)

Net assets/(liabilities)

 

6,491

(12,505)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

6,490

(12,506)

Shareholders' funds/(deficit)

 

6,491

(12,505)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 4 September 2024 and signed on its behalf by:
 

.........................................

S M Dodd
Director

 

Gravitas Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

Accounting policies

Statutory information

Gravitas Property Limited is a private company, limited by shares, domiciled in England and Wales, company number 08379543. The registered office is at Global Technology Centre, Mill Close, Rotherham, S60 1BZ.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Group accounts not prepared

The company has not prepared consolidated financial statements on the basis that it satisfies the criteria set out in section 297 of the Companies Act 2006 to qualify as a small group.

Investments

Current asset investments are included at the lower of cost and net realisable value.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Gravitas Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

3

Investments

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Holding

Proportion of voting rights and shares held

     

2024

2023

Shemwell (QSC) Limited

Ordinary

100%

100%

         

The principal activity of Shemwell (QSC ) Limited is deriving income and gains from property.

4

Creditors

2024
£

2023
£

Due within one year

Amounts owed to group undertakings

75,103

92,129

Taxation and social security

-

5,371

Other creditors

54,430

54,430

Accruals

2,300

2,300

131,833

154,230

5

Related party transactions

Included in other creditors is an interest free loan of £54,430 due to Dr L J Rea, a shareholder of the company.