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MORSIA FITNESS LIMITED

Registered Number
12891031
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

MORSIA FITNESS LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Director

MORSIA, Matthew

Registered Address

Victoria Court
17 - 21 Ashford Road
Maidstone
ME14 5DA

Registered Number

12891031 (England and Wales)
MORSIA FITNESS LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets33,5005,500
3,5005,500
Current assets
Debtors4806,397538,348
Cash at bank and on hand29328,018
806,690566,366
Creditors amounts falling due within one year5(586,772)(171,404)
Net current assets (liabilities)219,918394,962
Total assets less current liabilities223,418400,462
Net assets223,418400,462
Capital and reserves
Called up share capital11
Profit and loss account223,417400,461
Shareholders' funds223,418400,462
The financial statements were approved and authorised for issue by the Director on 4 March 2025, and are signed on its behalf by:
MORSIA, Matthew
Director
Registered Company No. 12891031
MORSIA FITNESS LIMITED
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue from sale of goods
Revenue is measured at the fair value of the consideration received or receivable and represents amounts for goods supplied and services rendered, stated net of discounts and of VAT. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Other - 20% straight line If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate, and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 August 2310,00010,000
At 31 July 2410,00010,000
Amortisation and impairment
At 01 August 234,5004,500
Charge for year2,0002,000
At 31 July 246,5006,500
Net book value
At 31 July 243,5003,500
At 31 July 235,5005,500
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables51,11868,492
Amounts owed by group undertakings701,350379,742
Other debtors3,85610,722
Prepayments and accrued income50,07379,392
Total806,397538,348
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables21,90728,663
Amounts owed to related parties450,53975,539
Taxation and social security109,87462,850
Accrued liabilities and deferred income4,4524,352
Total586,772171,404
6.Related party transactions
The company is a member of a small group and transactions occur within the group that are not on an arms length basis. No interest is charged on any balances due between the members of the group. At the year end, the company was owed £701,350 (2023 - £379,742) from group companies. At the year end, the company owed £450,539 (2023 - £75,539) to group companies. The company's parent undertaking is Morsia Holdings Limited, a company registered in England and Wales, whose registered office is Victoria Court 17 - 21 Ashford Road Maidstone Kent ME14 5DA.