REGISTERED NUMBER: 07119701 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

FOR

GRAVITAS WORLDWIDE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D B Parish

Mr J Cramer

Mr C Darbin

REGISTERED OFFICE:

13a Bentalls Business Park

Basildon

Essex

SS14 3BN

REGISTERED NUMBER:

07119701 (England and Wales)

FIXED ASSETS

Tangible assets

4

625,001

691,854

Investments

5

49,976

69,955

674,977

761,809

CURRENT ASSETS

Debtors

6

4,330,329

2,276,081

Cash at bank

405,717

1,174,870

4,736,046

3,450,951

CREDITORS

Amounts falling due within one year

7

(2,345,198

)

(1,300,417

)

NET CURRENT ASSETS

2,390,848

2,150,534

TOTAL ASSETS LESS CURRENT LIABILITIES

3,065,825

2,912,343

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

3,065,725

2,912,243

SHAREHOLDERS' FUNDS

3,065,825

2,912,343

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

Mr D B Parish - Director

Mr J Cramer - Director

1.	STATUTORY INFORMATION

Gravitas Worldwide Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The presentation currency of the financial statements is the Pound Sterling (£) which is the functional currency of the company and rounded to the nearest £.

Turnover

The company's turnover derives from the provision of services relating to freight forwarding and other ancillary services. Turnover is recognised, excluding value added tax and duty, based on the terms and the commercial rates agreed in the shipping service agreement with the customer and is recognised as the service is completed.

The company is considered to be acting as a principal in its commercial transactions because it has primary responsibility for providing the services to the customer; it has all inventory risk throughout the transaction; it can determine prices throughout the transaction for a range of services and it bears the credit risk for the debt due form the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

The company does not depreciate its freehold building on the grounds that it is maintained in a good state of repair and that the estimated residual value of the buildings will not be materially different from the valuation at the balance sheet date in 2024. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments

The company recognises its listed investments as basic financial instruments in accordance with Section 11 of FRS 102. The investments are measured at fair value, with changes in fair value recognised within the profit and loss account for the year.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 (2024 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

625,000

129,842

754,842

Disposals

-

(73,248

)

(73,248

)

At 31 December 2024

625,000

56,594

681,594

DEPRECIATION

At 1 April 2024

-

62,988

62,988

Charge for period

-

36,062

36,062

Eliminated on disposal

-

(42,457

)

(42,457

)

At 31 December 2024

-

56,593

56,593

NET BOOK VALUE

At 31 December 2024

625,000

1

625,001

At 31 March 2024

625,000

66,854

691,854

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 April 2024

69,955

Disposals

(19,979

)

At 31 December 2024

49,976

NET BOOK VALUE

At 31 December 2024

49,976

At 31 March 2024

69,955

Cost or valuation at 31 December 2024 is represented by:

Other

investments

£

Valuation in 2024

49,976

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2024

£

£

Trade debtors

2,293,492

1,046,140

Amounts owed by group undertakings

293,985

293,822

Other debtors

1,742,852

936,119

4,330,329

2,276,081

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2024

£

£

Trade creditors

2,025,954

876,587

Amounts owed to group undertakings

300,000

300,000

Taxation and social security

3,649

14,002

Other creditors

15,595

109,828

2,345,198

1,300,417

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 December 2024 and the year ended 31 March 2024:

2024

2024

£

£

Mr S C Cramer

Balance outstanding at start of period

58,858

-

Amounts advanced

-

58,858

Amounts repaid

(58,858

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

-

58,858

9.	RELATED PARTY DISCLOSURES

During the period, the company incurred costs and management charges from IFE Global Logistics(UK) Ltd, an undertaking registered in England and Wales and in which company directors Mr J Cramer and Mr D Parish are also directors in this company's parent undertaking,of £27,666 (31/03/2024:£60,000). A loan and recharge balance was owed by IFE Global Logistics (UK) Ltd of £750,781 (31/03/2024: £598,206) to the company..

During the period, the company incurred costs from I F E Global Logistics (London) Ltd, an undertaking registered in England and Wales and in which company directors Mr J Cramer and Mr D Parish are also directors and shareholders in this company's parent undertaking, of £2,064 (2024: £111,259). A loan and recharge balance was owed by IFE Global Logistics (London) Ltd of £359,574) to the company..

During the period, the company incurred management charges from Gravitas Members LLP, a limited liability partnership registered in England and Wales and in which company directors Mr J Cramer and Mr D Parish are also members, of £62,333 (31/03/2024: £211,283).- as at 31st of December March 2024 £10,000 (31/03/2024-£NIL) was owed to Gravitas Members LLP.

During the period, the company incurred costs from a related company, Broker Solutions Ltd, a company registered in England and Wales and in which company directors Mr J Cramer and Mr D Parish are also directors, of £185,751(31/03/2024: £171,161).

During the period, the company advanced funds to Moonstone Massage and Spa Ltd, an entity owned and operated by the spouse of company director Mr J Cramer. The loan was advanced at a borrowing rate of 4% per annum. As at 31st of December 2024, the balance due back to the company was £293,361.This sum was fully repaid including all interest due after the year end.

The company has taken advantage of the exemption available under the terms of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" not to disclose transactions entered into between two or more members of a group on the basis that any subsidiary undertakings which is party to the transaction is a wholly owned subsidiary undertaking within the group.

10.	PARENT UNDERTAKING

The company's parent undertaking is Gravitas Worldwide Holdings Ltd.