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REGISTERED NUMBER: 11278135 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

MORPHEUS ESTATES LIMITED

MORPHEUS ESTATES LIMITED (REGISTERED NUMBER: 11278135)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MORPHEUS ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs S Jones
J M Jones





REGISTERED OFFICE: Hill House Farm
Sodbury Road
Wickwar
Wotton-Uder-Edge
South Gloustershire





REGISTERED NUMBER: 11278135 (England and Wales)





ACCOUNTANTS: Gordon Wood Scott & Partners Limited
Chartered Accountants
Dean House
94 Whiteladies Road
Clifton
Bristol
BS8 2QX

MORPHEUS ESTATES LIMITED (REGISTERED NUMBER: 11278135)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,562,319 4,575,846

CURRENT ASSETS
Debtors 5 41,644 32,009
Cash at bank 7,119 61,269
48,763 93,278
CREDITORS
Amounts falling due within one year 6 (3,640,936 ) (3,939,330 )
NET CURRENT LIABILITIES (3,592,173 ) (3,846,052 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

970,146

729,794

PROVISIONS FOR LIABILITIES (24,630 ) (22,512 )
NET ASSETS 945,516 707,282

CAPITAL AND RESERVES
Called up share capital 7 200 200
Retained earnings 945,316 707,082
SHAREHOLDERS' FUNDS 945,516 707,282

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

MORPHEUS ESTATES LIMITED (REGISTERED NUMBER: 11278135)

BALANCE SHEET - continued
31 MARCH 2023


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 the Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by:




J M Jones - Director



Mrs S Jones - Director


MORPHEUS ESTATES LIMITED (REGISTERED NUMBER: 11278135)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Morpheus Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

The ability to continue trading is dependent on the willingness of the directors to continue to extend finance to the company which they are both willing and able to do and have indicated that they will continue to do so for a period of at least 12 months from the date of signature of these financial statements.

Turnover
Turnover comprises rental income and is measured at the fair value of consideration receivable.

Tangible fixed assets
Investment properties are measured at fair value. Gains and losses arising from changes in fair value are included in the Income Statement in the period in which they occur. Deferred tax is recognised on these movements.

Financial instruments and cash equivalents
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Short term debtors are measured at transaction price less any impairment.

Short term creditors are measured at transaction price.

Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

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.

MORPHEUS ESTATES LIMITED (REGISTERED NUMBER: 11278135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
Investment machinery
property etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 4,525,000 57,799 4,582,799
Additions - 19,765 19,765
Disposals - (32,133 ) (32,133 )
At 31 March 2023 4,525,000 45,431 4,570,431
DEPRECIATION
At 1 April 2022 - 6,953 6,953
Charge for year - 6,810 6,810
Eliminated on disposal - (5,651 ) (5,651 )
At 31 March 2023 - 8,112 8,112
NET BOOK VALUE
At 31 March 2023 4,525,000 37,319 4,562,319
At 31 March 2022 4,525,000 50,846 4,575,846

Investment property was revalued by the directors on the basis of open market value in existing use at 31 March 2023.

The historical cost of the investment property is £4,523,764 (2022 : £4,523,764)

Cost or valuation at 31 March 2023 is represented by:

Plant and
Investment machinery
property etc Totals
£    £    £   
Valuation in 2023 4,525,000 - 4,525,000
Cost - 45,431 45,431
4,525,000 45,431 4,570,431

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 36,532 28,065
Other debtors 5,112 3,944
41,644 32,009

MORPHEUS ESTATES LIMITED (REGISTERED NUMBER: 11278135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors - 762
Corporation tax 52,367 46,828
Other taxation 15,097 16,028
Other creditors 10,000 8,532
Directors' current accounts 3,475,264 3,785,539
Accruals and deferred income 88,208 81,641
3,640,936 3,939,330

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
200 Ordinary £1 200 200