Company Registration No. 13735099 (England and Wales)
Metagravity Group Limited
Unaudited accounts
for the year ended 31 December 2024
Metagravity Group Limited
Statement of financial position
as at 31 December 2024
Tangible assets
20,483
31,492
Debtors
6,732,778
2,334,594
Cash at bank and in hand
629,032
5,009,930
Creditors: amounts falling due within one year
(66,255)
(77,245)
Net current assets
7,297,311
7,289,599
Net assets
7,321,764
7,321,091
Called up share capital
1,211
1,211
Share premium
8,032,688
8,032,688
Profit and loss account
(712,135)
(712,808)
Shareholders' funds
7,321,764
7,321,091
For the year ending 31 December 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 directors acknowledge their 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 of Directors and authorised for issue on 6 May 2025 and were signed on its behalf by
Gallekadulle Mansoor Rashid
Director
Company Registration No. 13735099
Metagravity Group Limited
Notes to the Accounts
for the year ended 31 December 2024
Metagravity Group Limited is a private company, limited by shares, registered in England and Wales, registration number 13735099. The registered office is 6th Floor, Capital Tower, 91 Waterloo Road, London, SE1 8RT, United Kingdom.
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.
Turnover comprises management charges receivable from group companies.
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
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:
Computer equipment
33.33% straight line
Other current assets comprise digital assets held for sale in the ordinary course of business. Digital assets are held for short-term use, with the units being consumed in the process of paying overhead costs.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Metagravity Group Limited
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Computer equipment
At 31 December 2024
73,365
Charge for the year
26,214
At 31 December 2024
52,882
At 31 December 2024
20,483
At 31 December 2023
31,492
5
Investments
Subsidiary undertakings
Valuation at 1 January 2024
-
Valuation at 31 December 2024
3,970
Amounts falling due within one year
Trade debtors
189,728
569,467
Accrued income and prepayments
-
3,750
Other debtors
6,543,050
1,757,869
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
46,131
77,245
Allotted, called up and fully paid:
99,074,075 Founder Ordinary shares of £0.00001 each
990.74
990.74
19,321,470 Seed A Shares of £0.00001 each
193.21
193.21
2,715,549 Seed B Shares of £0.00001 each
27.15
27.15
Metagravity Group Limited
Notes to the Accounts
for the year ended 31 December 2024
9
Average number of employees
During the year the average number of employees was 6 (2023: 6).