ACCOUNTS - Final Accounts

Interest receivable

9 months

30 September

Registered number: 11007113

THIS IS GRAVITY LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025


THIS IS GRAVITY LIMITED

COMPANY INFORMATION

Directors	M J Bellamy
	T B Curtis
	S R Kedar (appointed 26 September 2025)
	K Jonesr (appointed 26 September 2025, resigned 6 March 2026)
	Lord D M Triesman (resigned 1 July 2025)
	S Alsop (resigned 13 June 2025)
	H S Frost (resigned 23 May 2025)
	R C Jones (resigned 23 May 2025)
	C R Kirkland (resigned 23 May 2025)


Registered number	11007113


Registered office	58 Grosvenor Street
	London
	W1K 3JB


Independent auditors	Warrener Stewart
	Chartered Accountants & Statutory Auditors
	Harwood House
	43 Harwood Road
	London
	SW6 4QP


THIS IS GRAVITY LIMITED

CONTENTS

	Page
Directors' Report	1 - 2
Independent Auditors' Report	3 - 5
Income Statement	6
Statement of Financial Position	7
Statement of Changes in Equity	8
Notes to the Financial Statements	9 - 18


THIS IS GRAVITY LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

The directors present their report and the financial statements for the year ended 30 September 2025.

Directors

The directors who served during the year were:

M J Bellamy

T B Curtis

S R Kedar (appointed 26 September 2025)

K Jonesr (appointed 26 September 2025, resigned 6 March 2026)

Lord D M Triesman (resigned 1 July 2025)

S Alsop (resigned 13 June 2025)

H S Frost (resigned 23 May 2025)

R C Jones (resigned 23 May 2025)

C R Kirkland (resigned 23 May 2025)

Directors' responsibilities statement

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Page 1


THIS IS GRAVITY LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Auditors

The auditors, Warrener Stewart, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

................................................

S R Kedar

Director

Date: 24 September 2026

Page 2


THIS IS GRAVITY LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THIS IS GRAVITY LIMITED

Opinion

We have audited the financial statements of This is Gravity Limited (the 'Company') for the year ended 30 September 2025, which comprise the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Company's affairs as at 30 September 2025 and of its loss for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 3


THIS IS GRAVITY LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THIS IS GRAVITY LIMITED (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit; or

∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

∙Because of the relatively simple business model, there are comparatively few unexpected fluctuations in the reported results and balances and any unexpected items would be specifically enquired into by us; and

∙There is a number of individuals which comprise "management" and therefore there is no single individual who is likely to be able to override controls to effect fraud.

We designed our audit procedures to respond to identified risks, including non-compliance with laws and regulations (irregularities) that are material to the financial statements. Some of the specific procedures performed to detect irregularities, including fraud, are detailed below::

Page 4


THIS IS GRAVITY LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THIS IS GRAVITY LIMITED (CONTINUED)

∙The review of control accounts and journal entries for large, unusual or unauthorised entries;

∙The analytical review of the detailed profit and loss account for unexpected variances or items that fell outside our understanding of the business; and

∙Obtaining and reviewing a list of connected persons and entities and reviewing ledgers for undisclosed related party transactions; and

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Colin Edney (Senior Statutory Auditor)

for and on behalf of

Warrener Stewart

Chartered Accountants & Statutory Auditors

Harwood House

43 Harwood Road

London

SW6 4QP

Date: 24 September 2026

Page 5


THIS IS GRAVITY LIMITED

INCOME STATEMENT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

	30 September	9 months 30 September
	2025	2024
Note	£	£


Turnover		5,917	10,000
Gross profit		5,917	10,000
Administrative expenses		(2,116,275)	(1,114,942)
Other operating income		3,068	2,897
Operating loss		(2,107,290)	(1,102,045)
Interest receivable and similar income	5	94,794	145,893
Loss before tax		(2,012,496)	(956,152)
Tax on loss	6	-	655,400
Loss for the financial year		(2,012,496)	(300,752)

There are no items of other comprehensive income for 2025 or 2024 other than the loss for the year. As a result, no separate Statement of Comprehensive Income has been presented.

The notes on pages 9 to 18 form part of these financial statements.

Page 6


THIS IS GRAVITY LIMITED REGISTERED NUMBER:11007113

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	7		688		7,705
			688		7,705
Current assets
Stocks	8	17,874,177		16,132,409
Debtors	9	2,850,373		2,739,894
Cash at bank and in hand	10	3,264,291		3,951,891
		23,988,841		22,824,194
Creditors: amounts falling due within one year	11	(4,533,747)		(1,363,621)
Net current assets			19,455,094		21,460,573
Total assets less current liabilities			19,455,782		21,468,278
Provisions for liabilities
Deferred tax	12		(1,260,873)		(1,260,873)
Net assets			18,194,909		20,207,405

Capital and reserves
Called up share capital	13	100	100
Profit and loss account	14	18,194,809	20,207,305
		18,194,909	20,207,405

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

S R Kedar

Director

Date: 24 September 2026

The notes on pages 9 to 18 form part of these financial statements.

Page 7


THIS IS GRAVITY LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 SEPTEMBER 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2024	100	20,508,057	20,508,157
Comprehensive income for the period
Loss for the period	-	(300,752)	(300,752)

At 1 October 2024	100	20,207,305	20,207,405
Comprehensive income for the year
Loss for the year	-	(2,012,496)	(2,012,496)
At 30 September 2025	100	18,194,809	18,194,909

The notes on pages 9 to 18 form part of these financial statements.

Page 8


THIS IS GRAVITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

1.	General information

The Company is a private company limited by shares and incorporated in England and Wales. The principal activity of the company is that of construction and property development. The principal place of business is Woolavington Road, Bridgwater, TA7 8AD and the registered office is 58 Grosvenor Street, London, Greater London, England, W1K 3JB

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Salamanca Group Holdings (UK) Limited as at 30 September 2024 and these financial statements may be obtained from 58 Grosvenor Street, London, Greater London, England, W1K 3JB.

2.3

Going concern

Following the sale of part of its site in 2023, the Company refinanced its borrowing facilities in 2025. The refinanced amount was then renewed in August 2026 for a further year.

Meanwhile the Company is in the process of realising a large part of its remaining site with completion expected in January 2027.

The Company has suffice cash flow to meet all operational expenditure for at least the next twelve months and in the extremely unlikely event the site sale stalls, the directors are confident that the facility would be able to be previewed in August 2027.

In view of the above, the directors consider that the Company will remain in operational existence for the foreseeable future and that the going concern basis is therefore applicable to the preparation of its financial statements.

Page 9


THIS IS GRAVITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 10


THIS IS GRAVITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 11


THIS IS GRAVITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.9

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery	-	20%
Motor vehicles	-	20%
Computer equipment	-	20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

Stock and work in progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Borrowing costs directly attributable to the acquisition and development of land held as inventory are capitalised as part of the cost of that inventory, in accordance with FRS 102, Section 25 'Borrowing Costs'. Capitalisation continues until the asset is ready for its intended sale.

2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 12


THIS IS GRAVITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

The key area of judgement is the valuation of sites under construction. Management makes use of professionally qualified, independent external valuers in order to mitigate against any risk of management bias in arriving at assessing the realisable value of sites relative to the costs of production.

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	30 September	9 months 30 September
	2025	2024
	No.	No.

Directors	3	3
Employees	3	3

	6	6

Other interest receivable

94,794

145,893

Page 13


THIS IS GRAVITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Corporation tax
Current tax on profits for the year	-	(221,218)
Adjustments in respect of previous periods	-	(434,182)

Total current tax	-	(655,400)

	Deferred tax
	Origination and reversal of timing differences	-	-


	Tax on loss	-	(655,400)

Loss on ordinary activities before tax

(2,012,496)

(956,152)

Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	(503,124)	(239,038)
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	62,799	4,637
Capital allowances for year/period lower than depreciation	1,754	269
Adjustments to tax charge in respect of prior periods	-	(434,182)
Pension timing differences	649	(1,000)
Unrelieved tax losses carried forward	437,922	-
Tax rate differential on loss carry back	-	13,914
Total tax charge for the year/period	-	(655,400)

Page 14


THIS IS GRAVITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

6.Taxation (continued)

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

7.	Tangible fixed assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost or valuation
At 1 October 2024	43,114	24,158	67,272
Disposals	-	(24,158)	(24,158)
At 30 September 2025	43,114	-	43,114
Depreciation
At 1 October 2024	35,409	24,158	59,567
Charge for the year on owned assets	7,017	-	7,017
Disposals	-	(24,158)	(24,158)
At 30 September 2025	42,426	-	42,426
Net book value
At 30 September 2025	688	-	688
At 30 September 2024	7,705	-	7,705

8.	Stocks and work in progress
		2025	2024
		£	£

	Work in progress (sites under development)	17,874,177	16,132,409

Page 15


THIS IS GRAVITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Debtors

					2025	2024
					£	£

Due after more than one year
Prepayments and accrued income	96,297	111,127
	96,297	111,127
Due within one year
Trade debtors	950,140	221,816
Amounts owed by group undertakings	3,068	502,761
Other debtors	1,778,307	1,631,292
Prepayments and accrued income	22,561	51,680
Tax recoverable	-	221,218
	2,850,373	2,739,894

10.	Cash and cash equivalents
		2025	2024
		£	£

	Cash at bank and in hand	3,264,291	3,951,891

11.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	353,262	408,771
Amounts owed to group undertakings	3,849,975	-
Other creditors	116,067	116,067
Accruals and deferred income	214,443	838,783
	4,533,747	1,363,621

The company has provided security for group borrowings by way of a fixed and floating charge over all its assets and business undertaking, including its development site.

Page 16


THIS IS GRAVITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

12.	Deferred taxation

	2025	2023
	£	£

At beginning of year	1,260,873	1,260,873
At end of year	1,260,873	1,260,873

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

Revaluation gains	1,260,873	1,260,873
Tax losses carried forward	-	-
	1,260,873	1,260,873

13.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

50 (2024 - 50) Ordinary A shares of £1.00 each	50	50
50 (2024 - 50) Ordinary B shares of £1.00 each	50	50

	100	100

14.

Reserves

Profit and loss account

Retained earnings include net unrealised gains of £3,759,403 arising on historic revaluations of the company's development site. In accordance with the Companies Act 2006, this amount does not form part of the company's distributable reserves.

15.	Pension commitments

The Company contributes to a defined contribution pension scheme administered through a group company. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company and amounted to £8,967 (2024: £6,373).

Page 17


THIS IS GRAVITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

16.

Related party transactions

During the year, the company incurred consultancy costs of £285,000 (2024: £285,000) with MJB Capital Limited, a company in which M J Bellamy, a director of the company, is also a director and has a beneficial interest.

At the year end, £285,000 was outstanding and included in accruals.

During the year, the company incurred consultancy costs of £120,000 (2024: £90,000) with Seagull Properties Limited, a company in which T B Curtis, a director of the company, is also a director and has a beneficial interest.

At the year end, £120,000 was outstanding and included in accruals.

A loan of £423,544 owed to this company by a fellow group undertaking, Salamanca Group Holdings (UK) Limited, was waived during the year.

17.	Controlling party

The immediate parent undertaking is This is Gravity Holdings Limited, a company registered in England and Wales.

Salamanca Investments Limited is the parent undertaking of the largest and smallest group of undertakings to consolidate these financial statements at 30 September 2025. The consolidated financial statements of Salamanca Investments Limited can be obtained from 58 Grosvenor Street, London, W1K 3JBP.

Salamanca Investments Limited is controlled by M J Bellamy and S R Kedar.

Page 18