Metamorphic Investments Limited

Registered number

10908858

Filleted Accounts

31 August 2025

Metamorphic Investments Limited
Registered number:		10908858
Balance Sheet
as at 31 August 2025

	Notes		2025			2024
£				£
Fixed assets
Investments	3		14,867,514			19,036,136

Current assets
Cash at bank		2,111,559			1,195,765

Creditors: amounts falling due within one year	4	(10,832,506)			(15,097,720)

Net current liabilities			(8,720,947)			(13,901,955)

Total assets less current liabilities			6,146,567			5,134,181


Provisions for liabilities			(873,675)			(933,673)


Net assets			5,272,892			4,200,508

Capital and reserves
Called up share capital			10,000			10,000
Profit and loss account			5,262,892			4,190,508

Shareholder's funds			5,272,892			4,200,508

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 member has 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 27 May 2026

Metamorphic Investments Limited
Notes to the Accounts
for the year ended 31 August 2025


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			2025		2024
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 2024	924,400		18,111,736		19,036,136
	Additions	67,455		505,811		573,266
	Revaluations	230,006		729,338		959,344
	Disposals	-		(5,701,232)		(5,701,232)
	At 31 August 2025	1,221,861		13,645,653		14,867,514

	Historical cost
	At 1 September 2024	1,391,934		14,377,045

	At 31 August 2025	1,458,198		10,150,952


4	Creditors: amounts falling due within one year			2025		2024
£					£

	Taxation and social security costs			241,196		-
	Directors' loan account			10,573,710		15,080,120
	Other creditors			17,600		17,600
				10,832,506		15,097,720


5	Capital commitments			2025		2024
£					£

	Amounts contracted for but not provided in the accounts			35,637		102,104


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