Gravitate Digital Accounting Limited

	Page
Company Information	1
Balance Sheet	2—3
Notes to the Financial Statements	4—6

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Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: 12096216

		31 December 2024		31 July 2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		68,027		29,684

			68,027		29,684
CURRENT ASSETS
Debtors	5	181,859		138,296
Cash at bank and in hand		4,725		112,738

		186,584		251,034
Creditors: Amounts Falling Due Within One Year	6	(161,991 )		(178,411 )

NET CURRENT ASSETS (LIABILITIES)			24,593		72,623

TOTAL ASSETS LESS CURRENT LIABILITIES			92,620		102,307

Creditors: Amounts Falling Due After More Than One Year	7		(28,543 )		-

PROVISIONS FOR LIABILITIES
Deferred Taxation			(14,246 )		-

NET ASSETS			49,831		102,307

CAPITAL AND RESERVES
Called up share capital	8		40		40
Profit and Loss Account			49,791		102,267

SHAREHOLDERS' FUNDS			49,831		102,307

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Gravitate Digital Accounting Limited

Balance Sheet (continued)

As At 31 December 2024

For the period 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

The financial statements were approved by the board of directors on 31 August 2025 and were signed on its behalf by:

M J Crocker Director	S B Newton Director
31st August 2025

The notes on pages 4 to 6 form part of these financial statements.

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Gravitate Digital Accounting Limited

Notes to the Financial Statements

For the Period 1 August 2023 to 31 December 2024

Notes to the Financial Statements

1. General Information

Gravitate Digital Accounting Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number 12096216 . The registered office is Unit 13e, 92 Burton Road, Neepsend, Sheffield, S3 8BX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	20% straight line
Fixtures & Fittings	25% straight line
Computer Equipment	25% straight line

2.4. Leasing and Hire Purchase Contracts

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2.5. Financial Instruments

Debtors and creditors with no stated interest rate, and repayable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit or loss account within overheads.

2.6. Foreign Currencies

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

2.7. Taxation

Income tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

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Gravitate Digital Accounting Limited

Notes to the Financial Statements (continued)

For the Period 1 August 2023 to 31 December 2024

2.9. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 24 (2023: 13)

4. Tangible Assets

	Land & Property
	Leasehold	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 August 2023	19,066	17,637	17,200	53,903
Additions	35,163	13,490	19,787	68,440

As at 31 December 2024	54,229	31,127	36,987	122,343

Depreciation
As at 1 August 2023	8,500	9,790	5,929	24,219
Provided during the period	11,458	8,288	10,351	30,097

As at 31 December 2024	19,958	18,078	16,280	54,316

Net Book Value
As at 31 December 2024	34,271	13,049	20,707	68,027

As at 1 August 2023	10,566	7,847	11,271	29,684

5. Debtors

	31 December 2024	31 July 2023
	£	£
Due within one year
Trade debtors	136,350	110,299
Prepayments and accrued income	30,656	13,009
Other debtors	14,853	14,988

	181,859	138,296

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Gravitate Digital Accounting Limited

Notes to the Financial Statements (continued)

For the Period 1 August 2023 to 31 December 2024

6. Creditors: Amounts Falling Due Within One Year

	31 December 2024	31 July 2023
	£	£
Trade creditors	30,735	11,769
Taxation and social security	127,283	96,166
Other creditors	1,766	24,479
Accruals	2,207	17,797
Amounts owed to group undertakings	-	28,200

	161,991	178,411

7. Creditors: Amounts Falling Due After More Than One Year

	31 December 2024	31 July 2023
	£	£
Amounts owed to group undertakings	28,543	-

8. Share Capital

	31 December 2024	31 July 2023
	£	£
Allotted, Called up and fully paid	40	40

9. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	31 December 2024	31 July 2023
	£	£
Not later than one year	54,305	51,536
Later than one year and not later than five years	66,098	105,586

	120,403	157,122

10. Related Party Transactions

Included within creditors due within one year are loans from related parties of £1,838 (2023: £20,098) and loans from a fellow group undertaking of £nil (2023: £28,200).

Included within debtors due within one year are loans to related parties of £3,659 (2023: £nil).

All such loans are interest-free and repayable on demand.

At 31 December 2024, the company also owed £28,543 (2023:£nil) to a fellow group undertaking. This balance is included within "Amounts owed to group undertakings" in creditors falling due after more than one year (note 7).

From 31 December 2024, this loan accrues interest at 5% per annum. No interest expense was recognised in the year (2023: £nil). The loan is unsecured and repayable in full after 31 December 2025.

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Directors	C Conley
	M J Crocker
	S B Newton

Company Number	12096216

Registered Office	Unit 13e
	92 Burton Road
	Neepsend, Sheffield
	S3 8BX

Accountants	Gravitate Accounting
	Unit 13 E, 92 Burton Road
	Sheffield
	South Yorkshire
	S3 8BX