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Registered number: 12106103
MORPH FITNESS LTD
Unaudited Financial Statements
For The Year Ended 31 July 2022
Wizz Accounting Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12106103
2022 2021
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 23,343 -
Tangible Assets 5 2,062 -
25,405 -
CURRENT ASSETS
Debtors 6 280 280
Cash at bank and in hand 24,184 391
24,464 671
Creditors: Amounts Falling Due Within One Year 7 (206,165 ) (33,020 )
NET CURRENT ASSETS (LIABILITIES) (181,701 ) (32,349 )
TOTAL ASSETS LESS CURRENT LIABILITIES (156,296 ) (32,349 )
NET LIABILITIES (156,296 ) (32,349 )
CAPITAL AND RESERVES
Called up share capital 8 1,000 600
Profit and Loss Account (157,296 ) (32,949 )
SHAREHOLDERS' FUNDS (156,296) (32,349)
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For the year ending 31 July 2022 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.
On behalf of the board
Jodi Pitout
Director
21 March 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MORPH FITNESS LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12106103 . The registered office is Kemp House, 160 City Road, London, EC1V 2NX.
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.4. 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:
Fixtures & Fittings 4 years
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2021: NIL)
- -
4. Intangible Assets
Development Costs
£
Cost
As at 1 August 2021 -
Additions 31,125
As at 31 July 2022 31,125
...CONTINUED
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Amortisation
As at 1 August 2021 -
Provided during the period 7,782
As at 31 July 2022 7,782
Net Book Value
As at 31 July 2022 23,343
As at 1 August 2021 -
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 August 2021 -
Additions 2,750
As at 31 July 2022 2,750
Depreciation
As at 1 August 2021 -
Provided during the period 688
As at 31 July 2022 688
Net Book Value
As at 31 July 2022 2,062
As at 1 August 2021 -
6. Debtors
2022 2021
£ £
Due within one year
Other debtors 280 280
280 280
7. Creditors: Amounts Falling Due Within One Year
2022 2021
£ £
Other taxes and social security 22,635 -
Other creditors 182,896 18,000
Accruals and deferred income 634 -
Directors' loan accounts - 15,020
206,165 33,020
8. Share Capital
2022 2021
£ £
Allotted, Called up and fully paid 1,000 600
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