IRIS Accounts Production v26.1.0.640 05274349 Board of Directors 1.1.25 31.12.25 31.12.25 14.4.26 false true false false true false Auditors Opinion iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 05274349 2024-12-31 05274349 2025-12-31 05274349 2025-01-01 2025-12-31 05274349 2024-09-10 05274349 2024-09-11 2024-12-31 05274349 2024-12-31 05274349 ns15:EnglandWales 2025-01-01 2025-12-31 05274349 ns14:PoundSterling 2025-01-01 2025-12-31 05274349 ns10:Director1 2025-01-01 2025-12-31 05274349 ns10:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 05274349 ns10:SmallEntities 2025-01-01 2025-12-31 05274349 ns10:Audited 2025-01-01 2025-12-31 05274349 ns10:SmallCompaniesRegimeForDirectorsReport 2025-01-01 2025-12-31 05274349 ns10:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 05274349 ns10:FullAccounts 2025-01-01 2025-12-31 05274349 ns10:Director2 2025-01-01 2025-12-31 05274349 ns10:CompanySecretary1 2025-01-01 2025-12-31 05274349 ns10:RegisteredOffice 2025-01-01 2025-12-31 05274349 ns5:CurrentFinancialInstruments 2025-12-31 05274349 ns5:CurrentFinancialInstruments 2024-12-31 05274349 ns5:ShareCapital 2025-12-31 05274349 ns5:ShareCapital 2024-12-31 05274349 ns5:RetainedEarningsAccumulatedLosses 2025-12-31 05274349 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 05274349 ns5:LandBuildings 2025-01-01 2025-12-31 05274349 ns5:PlantMachinery 2025-01-01 2025-12-31 05274349 ns5:LandBuildings 2024-12-31 05274349 ns5:PlantMachinery 2024-12-31 05274349 ns5:LandBuildings 2025-12-31 05274349 ns5:PlantMachinery 2025-12-31 05274349 ns5:LandBuildings 2024-12-31 05274349 ns5:PlantMachinery 2024-12-31 05274349 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-12-31 05274349 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31

REGISTERED NUMBER: 05274349 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

MORSAFE LIMITED

| MORSAFE LIMITED (REGISTERED NUMBER: 05274349) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| MORSAFE LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTORS: | L N E Ehnimb

| P J Ward

| SECRETARY: | E L Lowe

| REGISTERED OFFICE: | Unit 13a Imperial Way

| Eagle Business Park

| Yaxley

| Peterborough

| Cambridgeshire

| PE7 3GP

| REGISTERED NUMBER: | 05274349 (England and Wales)

| AUDITORS: | Christian Douglass Accountants Limited

| Chartered Accountants

| Statutory Auditor

| 2 Jordan Street

| Knott Mill

| Manchester

| M15 4PY

| MORSAFE LIMITED (REGISTERED NUMBER: 05274349) |

BALANCE SHEET

31 DECEMBER 2025

| 31.12.25 | 31.12.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 445,179 |  | 463,113 |  |

CURRENT ASSETS

Debtors | 5 | 514,363 |  | 357,445 |  |

Cash at bank | 134,529 |  | 217,436 |  |

648,892 |  | 574,881 |  |

CREDITORS

Amounts falling due within one year | 6 | 146,558 |  | 190,381 |  |

NET CURRENT ASSETS | 502,334 |  | 384,500 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 947,513 |  | 847,613 |  |

PROVISIONS FOR LIABILITIES | 12,273 |  | 12,273 |  |

NET ASSETS | 935,240 |  | 835,340 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 935,140 |  | 835,240 |  |

935,240 |  | 835,340 |  |

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2026 and were signed on its behalf by:

P J Ward - Director

| MORSAFE LIMITED (REGISTERED NUMBER: 05274349) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Morsafe Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 05274349 and its registered address is Unit 13a Imperial Way, Eagle Business Park, Yaxley, Peterborough, Cambs, England, PE7 3GP.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Turnover

| Turnover represents income derived from operating activities being the training and other services provided during the period, at selling price less trade discounts and rebates and net of value added tax.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Land and buildings | - | 1% per annum on cost

| Plant and machinery etc | - | 33% on cost, 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

| Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure directly attributable to bringing the asset to the location and condition necessary for operation by the company.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 3 (2024 - 4 ) .

| MORSAFE LIMITED (REGISTERED NUMBER: 05274349) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

4. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 445,880 |  | 135,869 |  | 581,749 |  |

| Additions | - |  | 10,637 |  | 10,637 |  |

| At 31 December 2025 | 445,880 |  | 146,506 |  | 592,386 |  |

| DEPRECIATION

| At 1 January 2025 | 34,121 |  | 84,515 |  | 118,636 |  |

| Charge for year | 17,835 |  | 10,736 |  | 28,571 |  |

| At 31 December 2025 | 51,956 |  | 95,251 |  | 147,207 |  |

| NET BOOK VALUE

| At 31 December 2025 | 393,924 |  | 51,255 |  | 445,179 |  |

| At 31 December 2024 | 411,759 |  | 51,354 |  | 463,113 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.25 |  | 31.12.24

£ | £ |

| Trade debtors | 199,164 |  | 69,582 |  |

| Amounts owed by group undertakings | 279,397 |  | 279,397 |  |

| Other debtors | 35,802 |  | 8,466 |  |

514,363 |  | 357,445 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.25 |  | 31.12.24

£ | £ |

| Trade creditors | 15,034 |  | 72,844 |  |

| Taxation and social security | 41,970 |  | 98,061 |  |

| Other creditors | 89,554 |  | 19,476 |  |

146,558 |  | 190,381 |  |

7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Mrs Deborah Burton FCA (Senior Statutory Auditor)

| for and on behalf of Christian Douglass Accountants Limited

| MORSAFE LIMITED (REGISTERED NUMBER: 05274349) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to directors subsisted during the year ended 31 December 2025 and the period ended 31 December 2024:

| 31.12.25 |  | 31.12.24

£ | £ |

| G Morpeth and Mrs J Morpeth

| Balance outstanding at start of year | - |  | 199,129 |  |

| Amounts repaid | - |  | (199,129 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | - |  |

9. | ULTIMATE PARENT UNDERTAKING

| The company's parent undertaking is Spanset Limited and its ultimate parent undertaking is Spanset Inter AG, a company incorporated in Switzerland. Spanset Inter AG prepares consolidated accounts including the results of the company. Its registered office is at 1 Samstagernstrasse 45, CH-8832 Wollerau, Switzerland from where copies of the consolidated accounts can be obtained.