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REGISTERED NUMBER: 09190344 (England and Wales)
















Financial Statements for the Year Ended 31 August 2023

for

Morpheus Computers Limited

Morpheus Computers Limited (Registered number: 09190344)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Morpheus Computers Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: Mr A Hodgetts
Mrs H L Hodgetts





SECRETARY: Mr A Hodgetts





REGISTERED OFFICE: Britannia Court
5 Moor Street
Worcester
Worcestershire
WR1 3DB





REGISTERED NUMBER: 09190344 (England and Wales)





ACCOUNTANTS: Chandler and Partners Limited
5 Moor Street
Worcester
Worcestershire
WR1 3DB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Morpheus Computers Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Morpheus Computers Limited for the year ended 31 August 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Morpheus Computers Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Morpheus Computers Limited and state those matters that we have agreed to state to the Board of Directors of Morpheus Computers Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Morpheus Computers Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Morpheus Computers Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Morpheus Computers Limited. You consider that Morpheus Computers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Morpheus Computers Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Chandler and Partners Limited
5 Moor Street
Worcester
Worcestershire
WR1 3DB


19 August 2024

Morpheus Computers Limited (Registered number: 09190344)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 22,050 27,899

CURRENT ASSETS
Inventories 17,560 20,348
Debtors 5 37,521 45,108
Cash in hand 499 1,149
55,580 66,605
CREDITORS
Amounts falling due within one year 6 (52,168 ) (43,247 )
NET CURRENT ASSETS 3,412 23,358
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,462

51,257

CREDITORS
Amounts falling due after more than one
year

7

(18,110

)

(33,733

)

PROVISIONS FOR LIABILITIES (4,189 ) (1,096 )
NET ASSETS 3,163 16,428

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 3,161 16,426
SHAREHOLDERS' FUNDS 3,163 16,428

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Computers Limited (Registered number: 09190344)

Balance Sheet - continued
31 August 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 by the Board of Directors and authorised for issue on 19 August 2024 and were signed on its behalf by:





Mr A Hodgetts - Director


Morpheus Computers Limited (Registered number: 09190344)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Morpheus Computers 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.

Turnover
Revenue 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 2 ).

Morpheus Computers Limited (Registered number: 09190344)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 September 2022 44,118 6,445 2,231 52,794
Additions - 1,126 - 1,126
At 31 August 2023 44,118 7,571 2,231 53,920
DEPRECIATION
At 1 September 2022 19,265 4,000 1,630 24,895
Charge for year 6,213 564 198 6,975
At 31 August 2023 25,478 4,564 1,828 31,870
NET BOOK VALUE
At 31 August 2023 18,640 3,007 403 22,050
At 31 August 2022 24,853 2,445 601 27,899

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Amounts owed by associates 27,193 18,943
Other debtors 1,820 1,820
Directors' loan account - 21,065
Other debtors - Card control 746 988
Directors' current accounts 7,038 -
Prepayments 724 2,292
37,521 45,108

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 13,642 15,412
Funding Circle Loan 11,005 11,126
Hire purchase contracts 3,384 3,384
Trade creditors - 745
Amounts owed to associates 1,760 -
Tax 6,515 3,231
Other creditors 14,302 7,789
Accrued expenses 1,560 1,560
52,168 43,247

Morpheus Computers Limited (Registered number: 09190344)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Funding Circle Loan 1-2 years - 11,005
Bounce Back Loan 17,264 18,498
Hire purchase contracts 846 4,230
18,110 33,733