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Registration number: 08578258

Gravitas Property Management Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Gravitas Property Management Limited

(Registration number: 08578258)

Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Current assets

 

Debtors

3

2,300

400

Cash at bank and in hand

 

5,776

21,830

 

8,076

22,230

Creditors: Amounts falling due within one year

4

(18,027)

(11,064)

Net (liabilities)/assets

 

(9,951)

11,166

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(9,952)

11,165

Shareholders' (deficit)/funds

 

(9,951)

11,166

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 Director's 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 director on 4 March 2025
 

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

T W S Bryan

Director

 

Gravitas Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

Accounting policies

Statutory information

Gravitas Property Management Limited is a private company, limited by shares, domiciled in England and Wales, company number 08578258. The registered office is at 36 Riverside Place,Stamford, PE9 2DX.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Gravitas Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

3

Debtors

Current

2024
£

2023
£

Trade debtors

2,300

400

 

2,300

400

4

Creditors

2024
£

2023
£

Due within one year

Taxation and social security

4,715

6,102

Accruals and deferred income

2,450

2,450

Other creditors

10,862

2,512

18,027

11,064

5

Related party transactions

During the year the director had an interest free loan account with the company. At the balance sheet date the amount due to the director was £10,862 (2023: £2,512).