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MORSIA HOLDINGS LIMITED

Registered Number
12290935
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

MORSIA HOLDINGS 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

12290935 (England and Wales)
MORSIA HOLDINGS LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments3159342,843
159342,843
Current assets
Debtors41,254,8211,036,870
Cash at bank and on hand510429,991
1,255,3311,466,861
Creditors amounts falling due within one year5(948,019)(428,484)
Net current assets (liabilities)307,3121,038,377
Total assets less current liabilities307,4711,381,220
Provisions for liabilities6-(4,362)
Net assets307,4711,376,858
Capital and reserves
Called up share capital2020
Profit and loss account307,4511,376,838
Shareholders' funds307,4711,376,858
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. 12290935
MORSIA HOLDINGS 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.
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Changes in fair value are included in the profit and loss account. A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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.Fixed asset investments

Investments in groups1

Other investments2

Total

£££
Cost or valuation
At 01 August 2312342,831342,843
Revaluations-6,0916,091
Disposals-(348,775)(348,775)
At 31 July 2412147159
Net book value
At 31 July 2412147159
At 31 July 2312342,831342,843

Notes

1Investments in group undertakings and participating interests
2Other investments other than loans
4.Debtors: amounts due within one year

2024

2023

££
Amounts owed by group undertakings450,53975,539
Other debtors804,282961,331
Total1,254,8211,036,870
5.Creditors: amounts due within one year

2024

2023

££
Amounts owed to related parties940,375422,584
Taxation and social security3,9892,375
Accrued liabilities and deferred income3,6553,525
Total948,019428,484
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)-4,362
Total-4,362
7.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
MORSIA, Matthew915,5621,724,1951,880,672759,085
915,5621,724,1951,880,672759,085
Interest totalling £31,642 was charged on this loan and is included in the advances shown above
8.Related party transactions
The company is the ultimate parent company in 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 £450,539 (2023 - £75,539) from group companies. At the year end, the company owed £940,375 (2023 - £422,584) to group companies. During the year, dividends were voted to the directors totalling £1,790,000 (2023: £90,000).
9.Parent-subsidiary relationships
The entity has taken advantage of the option not to prepare consolidated financial statements as contained in Section 399 of the Companies Act 2006, on the basis that the entity and its subsidiary undertakings comprise a small group.