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REGISTERED NUMBER: 13938556 (England and Wales)















Morio-Labs Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024






Morio-Labs Limited (Registered number: 13938556)

Contents of the Financial Statements
for the year ended 29 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Morio-Labs Limited

Company Information
for the year ended 29 February 2024







Directors: A Morinaga
K Noji





Registered office: First Floor
38 Thurloe Place
London
SW7 2HP





Registered number: 13938556 (England and Wales)





Accountants: Cooper Parry
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Morio-Labs Limited (Registered number: 13938556)

Balance Sheet
29 February 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 15,890 20,074

Current assets
Stocks 5 161,902 176,163
Debtors 6 17,511 896
Cash at bank 10,003 47,042
189,416 224,101
Creditors
Amounts falling due within one year 7 312,528 302,570
Net current liabilities (123,112 ) (78,469 )
Total assets less current liabilities (107,222 ) (58,395 )

Capital and reserves
Called up share capital 8 100 100
Retained earnings 9 (107,322 ) (58,495 )
Shareholders' funds (107,222 ) (58,395 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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 31 July 2024 and were signed on its behalf by:





A Morinaga - Director


Morio-Labs Limited (Registered number: 13938556)

Notes to the Financial Statements
for the year ended 29 February 2024


1. Statutory information

Morio-Labs 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.

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.

Going concern
The company meets its day to day working capital requirements through the support of the directors and shareholders of the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds financial instruments which comprise cash and cash equivalents, trade and other receivables, equity investments derivative financial instruments, trade and other payables, convertible loan notes and loans and borrowings. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments in full.

Financial assets and liabilities - classified as basic financial instruments

(i) Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Trade and other receivables
Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

At the end of each reporting period, the company assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in the Income Statement.

(iii) Trade and other payables and loans and borrowings
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the discounted amount of the cash expected to be paid.

Morio-Labs Limited (Registered number: 13938556)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


2. Accounting policies - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 (2023 - 2 ) .

4. Tangible fixed assets
Fixtures
and
fittings
£
Cost
At 1 March 2023 26,765
Additions 1,113
At 29 February 2024 27,878
Depreciation
At 1 March 2023 6,691
Charge for year 5,297
At 29 February 2024 11,988
Net book value
At 29 February 2024 15,890
At 28 February 2023 20,074

5. Stocks
2024 2023
£ £
Stocks 161,902 176,163

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors - 796
Other debtors 17,511 100
17,511 896

Morio-Labs Limited (Registered number: 13938556)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 288 62,461
Taxation and social security 2,156 3,417
Other creditors 310,084 236,692
312,528 302,570

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

9. Reserves
Retained
earnings
£

At 1 March 2023 (58,495 )
Deficit for the year (48,827 )
At 29 February 2024 (107,322 )

10. Related party disclosures

Included within other creditors is £3,914 (2023: Nil) owed to a company director and £302,420 (2023: £233,812) owed to a company under common control.