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REGISTERED NUMBER: 00392482 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

LINTON FAMILY (HOLDINGS) LTD

PREVIOUSLY KNOWN AS
NORMAN LINTON (HOLDINGS) LIMITED

LINTON FAMILY (HOLDINGS) LTD (REGISTERED NUMBER: 00392482)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LINTON FAMILY (HOLDINGS) LTD

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs S N L Egerton
J D Linton
G M Linton
Mrs V J Linton





REGISTERED OFFICE: The Maple Building
39/51 Highgate Road
London
NW5 1RT





REGISTERED NUMBER: 00392482 (England and Wales)





ACCOUNTANTS: Primera Accountants Limited
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX

LINTON FAMILY (HOLDINGS) LTD (REGISTERED NUMBER: 00392482)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Investments 4 202 301
Investment property 5 7,450,000 10,350,000
7,450,202 10,350,301

CURRENT ASSETS
Debtors 6 386,937 6,372,345
Cash at bank 207,559 3,490,012
594,496 9,862,357
CREDITORS
Amounts falling due within one year 7 (859,078 ) (2,858,049 )
NET CURRENT (LIABILITIES)/ASSETS (264,582 ) 7,004,308
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,185,620

17,354,609

PROVISIONS FOR LIABILITIES 8 (1,448,392 ) (1,904,136 )
NET ASSETS 5,737,228 15,450,473

CAPITAL AND RESERVES
Called up share capital 9 750 750
Retained earnings 5,736,478 15,449,723
SHAREHOLDERS' FUNDS 5,737,228 15,450,473

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

LINTON FAMILY (HOLDINGS) LTD (REGISTERED NUMBER: 00392482)

Balance Sheet - continued
31 March 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 4 March 2024 and were signed on its behalf by:





J D Linton - Director


LINTON FAMILY (HOLDINGS) LTD (REGISTERED NUMBER: 00392482)

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

1. STATUTORY INFORMATION

Linton Family (Holdings) Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Linton Family (Holdings) Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements have had the most significant effect on amounts recognised in the financial statements.

Valuation of investment properties
Investment properties are valued annually at fair value. Fair value is ascertained through review of a number
of factors and information flows, including market knowledge, recent market movements, historical
experience, rent levels and flows of cash for the respective investment property. There is an inevitable degree of judgment involved and value can be only reliably be tested ultimately in the market itself.

Investments
Investments held as non current assets are stated at cost less any provision for impairment. The directors
assess the recoverability of investments made and economic benefit of the investments based on market
conditions and cash flow estimates.

Turnover
Revenue represents rental income receivable, net of value added tax which is derived from investment properties held by the company . Rentals receivables under operating leases are credited to income on a straight line basis over the lease term.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised initially at cost less any impairment.

Investment property
Investment properties, which are properties held to earn rentals and/or for capital appreciation are initially recognised at cost , which includes the purchase cost and any directly attributable expenditure. Subsequently they are measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the income statement.

No depreciation is provided on investment properties.

LINTON FAMILY (HOLDINGS) LTD (REGISTERED NUMBER: 00392482)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.


LINTON FAMILY (HOLDINGS) LTD (REGISTERED NUMBER: 00392482)

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

2. ACCOUNTING POLICIES - continued
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.

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 (2022 - 9 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022 301
Additions 1
Disposals (100 )
At 31 March 2023 202
NET BOOK VALUE
At 31 March 2023 202
At 31 March 2022 301

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

39-51 Highgate Road Development Limited
Registered office: The Maple Building, 39-51 Highgate Road, London NW5 1RT
Nature of business: Property management
%
Class of shares: holding
Ordinary shares of £1 each 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves 25,789 1,724,976
Profit for the year 813 1,177

LINTON FAMILY (HOLDINGS) LTD (REGISTERED NUMBER: 00392482)

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

4. FIXED ASSET INVESTMENTS - continued

Cuthbert Street Development Limited
Registered office: The Maple Building, 39-51 Highgate Road, London NW5 1RT
Nature of business: Property management
%
Class of shares: holding
Ordinary shares of £1 each 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves 125,481 914,317
(Loss)/profit for the year (8,835 ) 4,482

Linton Property Management Limited
Registered office: The Maple Building, 39-51 Highgate Road, London NW5 1RT
Nature of business: Property management
%
Class of shares: holding
Ordinary shares of £1 each 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves (77,652 ) (85,735 )
Profit for the year 8,082 19,274

Stamford Road Development Limited
Registered office: The Maple Building, 39-51 Highgate Road, London NW5 1RT
Nature of business: Property development
%
Class of shares: holding
5933706 Ord shares £0.0001 100.00
31.3.23
£   
Aggregate capital and reserves 317,487
Profit for the year 2,772,138

Associated company

New End 3C LLP
Registered office: The Maple Building, 39-51 Highgate Road, London NW5 1RT
Nature of business: Mezzanine Finance
%
Class of shares: holding
Member interest 55.38

LINTON FAMILY (HOLDINGS) LTD (REGISTERED NUMBER: 00392482)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 10,350,000
Disposals (2,800,000 )
Revaluations (100,000 )
At 31 March 2023 7,450,000
NET BOOK VALUE
At 31 March 2023 7,450,000
At 31 March 2022 10,350,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2021 5,784,488
Valuation in 2023 (100,000 )
Cost 1,765,512
7,450,000

The investment properties were valued by the directors at their fair value at the year end of £7,400,000. The historical cost is £1,756,512 (2022: £1,756,512))

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 110,770 165,281
Amounts owed by group undertakings 87,157 5,954,346
Other debtors 189,010 252,718
386,937 6,372,345

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 5,891 717
Amounts owed to group undertakings 291,013 2,494,540
Taxation and social security 17,966 1,698
Other creditors 544,208 361,094
859,078 2,858,049

8. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 1,448,392 1,904,136

LINTON FAMILY (HOLDINGS) LTD (REGISTERED NUMBER: 00392482)

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

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 1,904,136
Credit to Income Statement during year (204,772 )
Demerger properties (250,972 )
Balance at 31 March 2023 1,448,392

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
1,500 Ordinary £0.5 750 750

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in debtors amounts falling due within one year is an amount of £87,157 (2022: £5,954,346) owed by related companies. Included in creditors amounts falling due within one year is an amount of £291,013 (2022: £2,474,540) owed by related companies.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Linton Holdings Limited.

During the year the company was involved in a scheme of reconstruction of group of private companies. As part of the scheme the company is presently a wholly -owned subsidiary of Linton Holdings Limited.

12. DEMERGER

The Company was under the control of two families. During the year it undertook a restructure to enable it to operate independently of the other family. In the process the assets and liabilities of the company were split between the two families, loans of £6,713,195 were waived and a dividend in specie of £5,614,913 was made to effect the demerger.