2023-08-012024-07-312024-07-31false12294122MORSIA 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MORSIA LIMITED

Registered Number
12294122
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

MORSIA 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

12294122 (England and Wales)
MORSIA LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Current assets
Stocks315,00080,000
Debtors474,17776,019
Cash at bank and on hand19736,166
89,374192,185
Creditors amounts falling due within one year5(270,778)(319,247)
Net current assets (liabilities)(181,404)(127,062)
Total assets less current liabilities(181,404)(127,062)
Net assets(181,404)(127,062)
Capital and reserves
Called up share capital11
Profit and loss account(181,405)(127,063)
Shareholders' funds(181,404)(127,062)
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. 12294122
MORSIA 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.
Going concern
The directors have considered the basis of the preparation of the accounts. There is support from other members of the group and having considered this support, the directors are satisfied that the accounts should be prepared on a going concern basis.
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.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
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.Stocks

2024

2023

££
Finished goods15,00080,000
Total15,00080,000
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables4,1465,988
Amounts owed by group undertakings70,03170,031
Total74,17776,019
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables3,3021,272
Amounts owed to related parties261,339310,138
Taxation and social security2,3033,926
Accrued liabilities and deferred income3,8343,911
Total270,778319,247
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 £70,031 (2023 - £70,031) from a group company. At the year end, the company owed £261,339 (2023 - £310,138) 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.