Company Registration No. 13379918 (England and Wales)
Gravity Assets Ltd
Unaudited accounts
for the year ended 31 May 2024
Gravity Assets Ltd
Unaudited accounts
Contents
Gravity Assets Ltd
Statement of financial position
as at 31 May 2024
Tangible assets
1,077,564
1,049,052
Cash at bank and in hand
2,286
1,549
Creditors: amounts falling due within one year
(372,067)
(330,654)
Net current liabilities
(369,781)
(329,105)
Total assets less current liabilities
707,783
719,947
Creditors: amounts falling due after more than one year
(691,811)
(712,951)
Called up share capital
10
10
Profit and loss account
15,962
6,986
Shareholders' funds
15,972
6,996
For the year ending 31 May 2024 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 26 February 2025 and were signed on its behalf by
Mr Mykhaylo Datsyuk
Director
Company Registration No. 13379918
Gravity Assets Ltd
Notes to the Accounts
for the year ended 31 May 2024
Gravity Assets Ltd is a private company, limited by shares, registered in England and Wales, registration number 13379918. The registered office is 18 Golders Green Road, London, NW11 8LL, England.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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:
4
Tangible fixed assets
Land & buildings
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
2,086
1,639
Other creditors
369,381
328,375
Gravity Assets Ltd
Notes to the Accounts
for the year ended 31 May 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
691,811
712,951
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).