THIS IS GRAVITY LIMITED

• ◆

  6 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.

1. THIS IS GRAVITY LIMITED 2018-11-27 → present
2. SALAMANCA GROUP TOPAZ LIMITED 2017-10-11 → 2018-11-27

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Warrener Stewart

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The company made a significant profit on the partial disposal of its site in October 2023 which enabled all the company's borrowings to be repaid. Ongoing activities to prepare the balance of land for disposal will be financed by cash reserves and a new financial facility supported by the land value. The facility is in the final stages before sign-off but in the unlikely event that the facility is not agreed, the company has sufficient cash resource to finance its operating costs for at least the next twelve months while alternative development funding is sought. 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.”

Significant events

• “Following the disposal of part of the site under development, it was determined that the site should more properly be classified as work in progress rather than an investment property. This reflects a change in strategy from develop and hold, to develop and sell. After conducting a detailed review, management concluded that the change in policy could be considered to be effective from 2021. Therefore the change of accounting policy is effective from that date. The effect of the change in policy has been to de-recognise site revaluations from 2021 onwards. This has also resulted in reversing much of the previous deferred tax provision, while crystallising a tax provision on the transfer of previously valued amounts to work in progress.”
• “The company made a significant profit on the partial disposal of its site in October 2023 which enabled all the company's borrowings to be repaid. Ongoing activities to prepare the balance of land for disposal will be financed by cash reserves and a new financial facility supported by the land value. The facility is in the final stages before sign-off but in the unlikely event that the facility is not agreed, the company has sufficient cash resource to finance its operating costs for at least the next twelve months while alternative development funding is sought.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

19

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

6

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.