REGISTERED NUMBER: 15096024 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

FOR

GRAVITAS WORLDWIDE (HEATHROW) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J Cramer

Mr D B Parish

REGISTERED OFFICE:

Unit 13 Bentalls

Basildon

SS14 3BN

REGISTERED NUMBER:

15096024 (England and Wales)

FIXED ASSETS

Tangible assets

4

1

4,022

CURRENT ASSETS

Debtors

5

261,248

261,458

Cash at bank

67,108

21,613

328,356

283,071

CREDITORS

Amounts falling due within one year

6

(527,031

)

(418,724

)

NET CURRENT LIABILITIES

(198,675

)

(135,653

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(198,674

)

(131,631

)

CAPITAL AND RESERVES

Called up share capital

100

80

Retained earnings

(198,774

)

(131,711

)

(198,674

)

(131,631

)

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 J Cramer - Director

1.	STATUTORY INFORMATION

Gravitas Worldwide (Heathrow) Limited 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.

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

-

33% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern

The company directors have received assurance from the relevant group undertakings that these undertakings will not seek to redeem inter-company trading support to an extent that would render the company incapable of operational existence for a period beyond twelve months after the balance sheet date of 31st December 2024. As such, the directors have prepared the financial statements on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

4,783

Disposals

(1,165

)

At 31 December 2024

3,618

DEPRECIATION

At 1 April 2024

761

Charge for period

1,341

Eliminated on disposal

(2,103

)

Reclassification/transfer

3,618

At 31 December 2024

3,617

NET BOOK VALUE

At 31 December 2024

1

At 31 March 2024

4,022

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2024

£

£

Trade debtors

242,345

227,136

Amounts owed by group undertakings

100

80

Other debtors

18,803

34,242

261,248

261,458

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2024

£

£

Trade creditors

212,035

108,435

Amounts owed to group undertakings

293,984

293,822

Taxation and social security

2,765

4,038

Other creditors

18,247

12,429

527,031

418,724

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2024

£

£

Within one year

-

13,750

8.	RELATED PARTY DISCLOSURES

During the year, the company incurred costs from IFE 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 £25,533 (31/03/2024 £2,931). As at 31/12/2024 a loan and recharge balance was owed by the company of £17,017 (31/03/2024 £8,325).There was a trading balance of £873 owed by the company.

During the year, the company incurred management charge 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 and shareholders in this company's parent undertaking, of £9,000. As at 31/12/2024 a loan and recharge balance was owed by the company of £590.

During the year, 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 £NIL (31/03/2024 £37,848).

During the year, the company incurred costs and management charge from a related company, IFE Road Freight Ltd, a company registered in England and Wales and in which company directors Mr J Cramer and Mr D Parish are also directors, of £NIL (31/03/2024 £8,005). As at 31/12/2024 a balance of £11 was owed to the company.

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.

9.	PARENT UNDERTAKING

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