Registered number
10908858
Metamorphic Investments Limited
Filleted Accounts
31 August 2024
Metamorphic Investments Limited
Registered number: 10908858
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 19,036,136 17,329,094
Current assets
Cash at bank 1,195,765 753,044
Creditors: amounts falling due within one year 4 (15,097,720) (14,726,011)
Net current liabilities (13,901,955) (13,972,967)
Total assets less current liabilities 5,134,181 3,356,127
Provisions for liabilities (933,673) (484,521)
Net assets 4,200,508 2,871,606
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 4,190,508 2,861,606
Shareholders' funds 4,200,508 2,871,606
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M F A Isaacs
Director
Approved by the board on 22 May 2025
Metamorphic Investments Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The financial statements are prepared in sterling, which is the functional currency of the company.
Monetary amounts in these financial statements are rounded to the nearest £.
Investments
Investments in listed investments are measured at fair value (market value). Debt instruments meet the conditions of FRS 102 section 11.8 (b) and have been designated by the company at fair value through profit and loss. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are recognised in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange prevailing at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. Gains and losses arising on translation are recognised in the profit or loss account for the period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investments
Unlisted Listed
investments investments Total
£ £ £
Cost/Fair value
At 1 September 2023 1,032,848 16,296,246 17,329,094
Additions 59,162 562,134 621,296
Revaluations (75,000) 1,753,842 1,678,842
Disposals (92,610) (500,486) (593,096)
At 31 August 2024 924,400 18,111,736 19,036,136
Historical cost
At 1 September 2023 1,500,952 14,358,161
At 31 August 2024 1,520,470 14,377,045
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs - 10,750
Directors' loan account 15,080,120 14,697,661
Other creditors 17,600 17,600
15,097,720 14,726,011
5 Capital commitments 2024 2023
£ £
Amounts contracted for but not provided in the accounts 102,104 120,757
6 Other information
Metamorphic Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
4th Floor
9 Bonhill Street
London
EC2A 4DJ
Metamorphic Investments Limited 10908858 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts April 2025 Mr M F A Isaacs No description of principal activity 10908858 2022-09-01 2023-08-31 10908858 core:WithinOneYear 2023-08-31 10908858 core:ShareCapital 2023-08-31 10908858 core:RetainedEarningsAccumulatedLosses 2023-08-31 10908858 2023-09-01 2024-08-31 10908858 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10908858 bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 10908858 bus:Director40 2023-09-01 2024-08-31 10908858 1 2023-09-01 2024-08-31 10908858 2 2023-09-01 2024-08-31 10908858 countries:England 2023-09-01 2024-08-31 10908858 bus:FRS102 2023-09-01 2024-08-31 10908858 bus:FilletedAccounts 2023-09-01 2024-08-31 10908858 2024-08-31 10908858 core:WithinOneYear 2024-08-31 10908858 core:ShareCapital 2024-08-31 10908858 core:RetainedEarningsAccumulatedLosses 2024-08-31 10908858 core:AdditionsToInvestments 2024-08-31 10908858 core:RevaluationsIncreaseDecreaseInInvestments 2024-08-31 10908858 core:DisposalsRepaymentsInvestments 2024-08-31 10908858 2023-08-31 iso4217:GBP xbrli:pure