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Registered number: OC433976

IFE and Gravitas members LLP

UNAUDITED ACCOUNTS
FOR THE YEAR ENDED 31/03/2024

Prepared By:
DNA and Sons Ltd
Association of Chartered Certified Accountants
7 South Primrose Hill
Chelmsford
Essex
CM1 2RF

IFE and Gravitas members LLP

ACCOUNTS
FOR THE YEAR ENDED 31/03/2024
DESIGNATED MEMBERS
D Parish - resigned 18.01.2024
Ingrid Allam
Stephen Cramer - resigned 19.03.2024
Jamie Cramer
Chris Darbin
Darren Jeal
Thomas Miles - resigned 01.09.2023
Joe Wright
Kim Darbin - appointed 01.04.2024
REGISTERED OFFICE
Unit 13
Bentalls Business Park
Basildon
Essex
SS14 3BN
COMPANY NUMBER
OC433976
ACCOUNTANTS
DNA and Sons Ltd
Association of Chartered Certified Accountants
7 South Primrose Hill
Chelmsford
Essex
CM1 2RF

IFE and Gravitas members LLP

CONTENTS
Page
Report of the Members3
Profit and Loss Account4
Balance Sheet5
Notes to the Accounts7
The following do not form part of the statutory financial statements:
Trading and Profit and Loss Account12
Profit and Loss Account Summaries13
Capital Accounts-
Current Accounts-

IFE and Gravitas members LLP

MEMBERS' REPORT
FOR THE YEAR ENDED 31/03/2024
The members present their report and accounts for the year ended 31/03/2024
PRINCIPAL ACTIVITIES
The principal activity of the LLP in the year under review was management and HR services .
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £521,905 (2023 £536,044).
DRAWINGS POLICY
The LLP operates a drawings policy which has regard to a cautious estimate of expected profits. Drawings are restricted to prudent levels, taking into account working capital performance, until the results for the year and individual members' allocations have been determined.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 as modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.
This report was approved on behalf of the members on 10/05/2024
Jamie Cramer
Designated member

IFE and Gravitas members LLP

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED31/03/2024
Notes20242023
££
TURNOVER3892,484608,011
Cost of sales(83,534)-
GROSS PROFIT808,950608,011
Administrative expenses(287,383)(72,079)
OPERATING PROFIT521,567535,932
Interest receivable and similar income338112
PROFIT FOR THE FINANCIALYEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS521,905536,044

IFE and Gravitas members LLP

BALANCE SHEET AT 31/03/2024
20242023
Notes££
FIXED ASSETS
Tangible assets7160,80172,448
CURRENT ASSETS
Debtors8517,420646,412
Cash at bank and in hand26,626233,026
544,046879,438
CREDITORS: Amounts falling due within one year9588,590800,547
NET CURRENT (LIABILITIES) / ASSETS(44,544)78,891
TOTAL ASSETS LESS CURRENT LIABILITIES116,257151,339
PROVISIONS FOR LIABILITIES AND CHARGES10-4,500
NET ASSETS ATTRIBUTABLE TO MEMBERS116,257146,839
LOANS AND OTHER DEBTS DUE TO MEMBERS13116,257146,839
MEMBERS ' OTHER INTERESTS
116,257146,839
TOTAL MEMBERS' INTERESTS
Loans and other debts due to members13116,257146,839
116,257146,839

IFE and Gravitas members LLP

BALANCE SHEET AT 31/03/2024
For the year ending 31/03/2024 the LLP was entitled to exemption under section 477 of the Companies Act 2006 as modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts as modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.
Approved by the members on 10/05/2024 and signed on their behalf by
.............................
Jamie Cramer
Designated Member
.............................

IFE and Gravitas members LLP

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/03/2024
1. ACCOUNTING POLICIES
1b. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.
1b. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Motor Carsreducing balance 25%
1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1e. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
2. INFORMATION IN RELATION TO MEMBERS 20242023
The average number of members during the year was98

IFE and Gravitas members LLP

3. TURNOVER
The turnover and pre-tax result is attributable to management and HR services.
20242023
££
Sales892,484608,011
892,484608,011
4. OPERATING PROFIT
20242023
££
Operating Profit is stated after charging:
Depreciation28,8301,542
28,8301,542
5. EMPLOYEES
20242023
No.No.
Average number of employees--
6. PENSION CONTRIBUTIONS
20242023
££
Pension contributions225,64744,544
225,64744,544

IFE and Gravitas members LLP

7. TANGIBLE FIXED ASSETS
Motor CarsTotal
££
Cost
At 01/04/202373,99073,990
Additions113,165113,165
At 31/03/2024187,155187,155
Depreciation
At 01/04/20231,5421,542
For the year24,81224,812
At 31/03/202426,35426,354
Net Book Amounts
At 31/03/2024160,801160,801
At 31/03/202372,44872,448
8. DEBTORS 20242023
££
Amounts falling due within one year:
Trade debtors-61,958
Other Debtors517,420584,454
517,420646,412
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
Amounts owed to group undertakings and undertakings in which the company has a participating interest339,376-
Taxation and social security31,81626,893
Other creditors217,398773,654
588,590800,547

IFE and Gravitas members LLP

10. PROVISIONS FOR LIABILITIES 20242023
££
Pensions-4,500
-4,500
11. RELATED PARTY TRANSACTIONS
Gravitas Worldwide Ltd is an associated company due to directors being a members of the company. During the year IFE and Gravitas Members LLP invoiced Gravitas Worldwide Ltd £211,283 (2023 - £155,352) on commercial rates and terms and was owed was owed £nil (2023 - £14,618) as at the balance sheet date.
IFE Global Logistics UK Ltd is an associated company due to directors being a members of the company. During the year IFE and Gravitas Members LLP invoiced IFE Global Logistics UK Ltd £467,039 (2023 - £356,525) on commercial rates and terms and was owed was owed £nil (2023 - £32,445) as at the balance sheet date.
IFE Global Logistics London Ltd is an associated company due to directors being a members of the company. During the year IFE and Gravitas Members LLP invoiced IFE Global Logistics Airfreight Ltd £130,450 (2023 - £90,117) on commercial rates and terms and was owed was owed £nil (2023 - £8,868) as at the balance sheet date.
12. RELATED PARTY FURTHER NOTES
IFE Global Logistics Road Freight Ltd is an associated company due to directors being a members of the company. During the year IFE and Gravitas Members LLP invoiced IFE Global Logistics Roadfreight Ltd £22,845 (2023 - £6,028) on commercial rates and terms and was owed was owed £nil (2023 - £6,028) as at the balance sheet date.
Gravitas Worldwide Heathrow Ltd is an associated company due to directors being a members of the company. During the year IFE and Gravitas Members LLP invoiced Gravitas Worldwide Heathrow Ltd £37,848 (2023 - £nil) on commercial rates and terms and was owed was owed £nil (2023 - £nil) as at the balance sheet date.
Forward Your Intelligence Ltd is an associated company due to directors being a members of the company. During the year IFE and Gravitas Members LLP invoiced Forward Your Intelligence Ltd £18,450 (2023 - £nil) on commercial rates and terms and was owed was owed £nil (2023 - £nil) as at the balance sheet date.
13. LOANS AND OTHER DEBTS DUE TO MEMBERS 20242023
££
Amounts due to members116,257146,839
The loans and debts due to members rank equally with debts due to ordinary creditors in a winding up.

IFE and Gravitas members LLP

14. MEMBERS INTERESTS
Members' capital (classified as equity)ReservesTotalLoans and other debts due to/(from) membersTotal
£££££
Amount due to members146,839
Balance at 01/04/2023---146,839146,839
Profit for the financial year available for discretionary division among members521,905521,905-521,905
Members' interests after profit for the year-521,905521,905146,839668,744
Other divisions of profit(521,905)(521,905)521,905
Drawings(552,487)(552,487)
Amount due to members116,257
Balance at 31/03/2024---116,257116,257

IFE and Gravitas members LLP

TRADING AND PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31/03/2024
20242023
££
Turnover892,484608,011
Cost of Sales:
Purchases83,534-
83,534-
83,534-
Gross Profit808,950608,011
808,950608,011
Less:
Administrative expenses287,38372,079
Interest receivable and similar income(338)(112)
287,04571,967
Net profit for the year before taxation521,905536,044
Net profit for the year after taxation521,905536,044
Retained profits carried forward521,905536,044
This page does not form part of the Company's Statutory Accounts and is prepared for the information of the Directors only.

IFE and Gravitas members LLP

PROFIT AND LOSS ACCOUNT SUMMARIES
FOR THE YEAR ENDED 31/03/2024
20242023
££
Cost of sales - purchases:
Subcontractors83,534-
83,534-
Administrative Expenses:
Insurance9,14713,868
Pension contributions225,64744,544
Motor expenses14,4085,056
Accountancy fees5,5006,017
Subscriptions6,0881,036
Bank charges4016
Depreciation and Amortisation:
Depreciation of motor cars28,8301,542
Profit on commercial vehicles disposal(2,277)-
287,38372,079
This page does not form part of the Company's Statutory Accounts and is prepared for the information of the Directors only.