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Registered Number: 12132683
England and Wales

 

 

 

GRAVITY BRUNCH & COFFEE LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
Directors Mr Christakis Kyriacou
Mr Marios Kyriacou
Registered Number 12132683
Registered Office First Floor, Hagley Court
40 Vicarage Road, Edgbaston
Birmingham
West Midlands
B15 3EZ
Accountants Marneros Marcus & Co Limited
First Floor Hagley Court
40 Vicarage Road Edgbaston
Birmingham
B153EZ
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 66,352    11,066 
66,352    11,066 
Current assets      
Stocks 4 1,070    1,070 
Debtors 5 229,396    28,539 
Cash at bank and in hand 8,762    5,113 
239,228    34,722 
Creditors: amount falling due within one year 6 (211,179)   (31,736)
Net current assets 28,049    2,986 
 
Total assets less current liabilities 94,401    14,052 
Creditors: amount falling due after more than one year 7 (44,520)  
Net assets 49,881    14,052 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 49,781    13,952 
Shareholders' funds 49,881    14,052 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 05 November 2024 and were signed on its behalf by:


-------------------------------
Mr Marios Kyriacou
Director
2
General Information
Gravity Brunch & Coffee Ltd is a private company, limited by shares, registered in England and Wales, registration number 12132683, registration address First Floor, Hagley Court, 40 Vicarage Road, Edgbaston, Birmingham, West Midlands, B15 3EZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Total
  £   £   £
At 01 August 2023   23,543    23,543 
Additions 53,761    4,673    58,434 
Disposals    
At 31 July 2024 53,761    28,216    81,977 
Depreciation
At 01 August 2023   12,477    12,477 
Charge for year   3,148    3,148 
On disposals    
At 31 July 2024   15,625    15,625 
Net book values
Closing balance as at 31 July 2024 53,761    12,591    66,352 
Opening balance as at 01 August 2023   11,066    11,066 


4.

Stocks

2024
£
  2023
£
Stocks 1,070    1,070 
1,070    1,070 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 229,396    28,539 
229,396    28,539 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 20,219    4,960 
Bank Loans & Overdrafts 12,426    18,500 
Corporation Tax 2,499    2,499 
PAYE & Social Security 830    167 
Other Creditors 138,092   
Directors' Current Accounts 31,633    220 
VAT 5,480    5,390 
211,179    31,736 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 36,245   
Other Creditors 8,275   
44,520   

3