REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
METAMORPH MANAGEMENT LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
METAMORPH MANAGEMENT LTD |
METAMORPH MANAGEMENT LTD (REGISTERED NUMBER: 11271684) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 August 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
METAMORPH MANAGEMENT LTD |
COMPANY INFORMATION |
for the Year Ended 31 August 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
10 London Mews |
Paddington |
LONDON |
W2 1HY |
METAMORPH MANAGEMENT LTD (REGISTERED NUMBER: 11271684) |
BALANCE SHEET |
31 August 2023 |
31.8.23 | 31.8.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
METAMORPH MANAGEMENT LTD (REGISTERED NUMBER: 11271684) |
BALANCE SHEET - continued |
31 August 2023 |
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 |
METAMORPH MANAGEMENT LTD (REGISTERED NUMBER: 11271684) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 August 2023 |
1. | STATUTORY INFORMATION |
Metamorph Management Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts are prepared on a going concern basis. The directors believe this to be appropriate on the basis that they have received assurances from the creditors that they will not require the repayment of advances made by them to the company until the company has adequate funds to remain solvent. |
Turnover |
Turnover represents gross invoiced sales of services and properties. |
Rendering of services |
Revenue for providing services are recognised as follows: |
Sale of property is included on the date of completion |
Management charges are included once the service has been completed on a quarterly basis. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Stocks |
Cost includes purchase price, associated acquisition costs, cost of development together with directly attributable overhead at the balance sheet date. |
At each balance sheet date, stock is assessed for impairment. If stock is impaired, the carrying amount is reduced to its net realisable value and the impairment loss is recognised immediately in profit or loss. |
Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related parties. |
The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date. |
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. |
METAMORPH MANAGEMENT LTD (REGISTERED NUMBER: 11271684) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 August 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Transfer to ownership |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.23 | 31.8.22 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.23 | 31.8.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.8.23 | 31.8.22 |
£ | £ |
Bank loans |
METAMORPH MANAGEMENT LTD (REGISTERED NUMBER: 11271684) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 August 2023 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.8.23 | 31.8.22 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
9. | RELATED PARTY DISCLOSURES |
At the period end the company is owed £91,939 (£16,540 - 2022) by Landing Place Enterprises Limited is included in other debtors. |
At the period end the company owes £66,190 (£65,342 - 2021) to James Laurence Limited, £104,030 |
(£49,430 - 2022) to Thameway Limited and £24,501 ((£10,500)- 2022) to The Cabin Project Ltd which are included in other creditors. |
The directors have an interest in these companies. |