Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-312023-05-31trueproperty rental company1falsefalse2022-06-011The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13427054 2022-06-01 2023-05-31 13427054 2021-05-28 2022-05-31 13427054 2023-05-31 13427054 2022-05-31 13427054 c:Director1 2022-06-01 2023-05-31 13427054 d:LeaseholdInvestmentProperty 2022-06-01 2023-05-31 13427054 d:LeaseholdInvestmentProperty 2023-05-31 13427054 d:CurrentFinancialInstruments 2023-05-31 13427054 d:CurrentFinancialInstruments 2022-05-31 13427054 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 13427054 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 13427054 d:ShareCapital 2023-05-31 13427054 d:ShareCapital 2022-05-31 13427054 d:RetainedEarningsAccumulatedLosses 2023-05-31 13427054 d:RetainedEarningsAccumulatedLosses 2022-05-31 13427054 c:OrdinaryShareClass1 2022-06-01 2023-05-31 13427054 c:OrdinaryShareClass1 2023-05-31 13427054 c:OrdinaryShareClass1 2022-05-31 13427054 c:FRS102 2022-06-01 2023-05-31 13427054 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 13427054 c:FullAccounts 2022-06-01 2023-05-31 13427054 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 13427054 6 2022-06-01 2023-05-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 13427054














MORPHEUS ASSETS LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

 
MORPHEUS ASSETS LTD
 

CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 5


 
MORPHEUS ASSETS LTD
REGISTERED NUMBER:13427054

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
50,000
50,000

Investment property
 5 
2,350,000
-

  
2,400,000
50,000

Current assets
  

Debtors: amounts falling due within one year
 6 
2,024
-

Creditors: amounts falling due within one year
 7 
(2,335,424)
(1,200)

Net current liabilities
  
 
 
(2,333,400)
 
 
(1,200)

  

Net assets
  
66,600
48,800


Capital and reserves
  

Called up share capital 
 8 
50,000
50,000

Profit and loss account
  
16,600
(1,200)

  
66,600
48,800


Page 1

 
MORPHEUS ASSETS LTD
REGISTERED NUMBER:13427054
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M M Satrap
Director

Date: 21 February 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
MORPHEUS ASSETS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Morpheus Assets Ltd is a limited liability company incorporated in England and Wales with its registered office at 5 Elstree Gate,  Elstree Way, Borehamwood, Hertfordshire, WD6 1JD. 

The principal activity of the company during the period was that of a property rental.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Turnover

Rental income is recognised in respect of rent of the property occupied during the period, exclusive of VAT.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.5

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income. 

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Debtors

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

 
2.8

Creditors

Short-term creditors are measured at the transaction price.

Page 3

 
MORPHEUS ASSETS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


At 1 June 2022
50,000



At 31 May 2023
50,000





5.


Investment property


Long term leasehold investment property

£



Valuation


Additions at cost
2,350,000



At 31 May 2023
2,350,000

The 2023 valuations were made by the director, on an open market value for existing use basis.







6.


Debtors

2023
2022
£
£


Prepayments and accrued income
2,024
-


Page 4

 
MORPHEUS ASSETS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Taxation and social security
5,425
-

Director's loan account
2,300,642
-

Accruals and deferred income
29,357
1,200

2,335,424
1,200



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



50,000 (2022 - 50,000) Ordinary shares of £1 each
50,000
50,000


 
Page 5