Registered number: 02154216 | ||||||||
FOR THE YEAR ENDED 31/12/2023 | ||||||||
Linley Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/12/2023 | ||||||||
DIRECTORS | ||||||||
SECRETARY | ||||||||
vacant | ||||||||
REGISTERED OFFICE | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 02154216 | ||||||||
Linley Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/12/2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Linley Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Investment Assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Debtors | 4 | |||||||||
Cash at bank and in hand | ||||||||||
- | 311,331 | |||||||||
CREDITORS: Amounts falling due within one year | 5 | |||||||||
NET CURRENT LIABILITIES | ( | (29,765,882) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ( | ( | ||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 6 | |||||||||
Profit and loss account | (29,755,686) | (29,410,907) | ||||||||
SHAREHOLDERS' FUNDS | ( | ( | ||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Linley Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/12/2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Investments | ||||||||
Fixed asset investments are shown at cost less amounts written off. | ||||||||
Provisions are made for permanent fluctuations in value. |
2. EMPLOYEES | ||||||||
2023 | 2022 | |||||||
No. | No. | |||||||
Average number of employees | - | |||||||
The Company did not employ any personnel during the period 2023 and 2022. | ||||||||
3. FINANCIAL ASSETS | |||||||||
Listed | |||||||||
Investments | Total | ||||||||
£ | £ | ||||||||
Cost | |||||||||
At 01/01/2023 | 355,075 | 355,075 | |||||||
Disposals | (355,075) | (355,075) | |||||||
Amortisation | |||||||||
Net Book Amounts | |||||||||
At 31/12/2022 | 355,075 | 355,075 | |||||||
The Company invested $1.25m in convertible loan notes in a private company, Mode Global Ltd (nee R8 Limited) in 2019. The loan notes converted into shares at IPO on 5 October 2020, with the majority of the shares sold during 2021. The Compny subscribed to a further £500,000 of unsecured convertible loan notes in the same company which after IPO became Mode Global Holdings PLC ("Mode") in 2022. The Company converted £194,056 of loan notes into 4.6m equity shares during the period. The value of the convertible loan notes as at 31 December 2022 totals £305,944 and accrued interest totals £18.4k. | |||||||||
The Company acquired 1m in shares in Mode in November 2022 and revalued its entire holding of 2.9m shares to reflect their realisable value at year end 2022. | |||||||||
The Company disposed of its entire holding of 2.9m shares in early 2023. Mode went into liquidation in April 2023. The residual value of the loan notes and accrued interest due to the Company have been written off in the period as a result of that. |
Linley Limited | ||||||||
4. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Accrued income | - | 18,432 | ||||||
- | 18,432 | |||||||
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Accruals | 45,363 | 30,364 | ||||||
Amounts due to group companies | 29,710,223 | 30,046,849 | ||||||
29,755,586 | 30,077,213 | |||||||
6. SHARE CAPITAL | 2023 | 2022 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
100 | 100 | |||||||
100 | 100 | |||||||
7. CONTROLLING PARTY | ||||||||
As at 31 December 2023 the Company is a subsidiary of Carbrooke Limited which is incorporated in England and Wales. Copies of the financial statements of Carbrooke Limited can be obtained from its registered office at 86 Jermyn Street, London, SW1Y 6JD. | ||||||||
8. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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Linley Limited | ||||||||
9. GOING CONCERN | ||||||||
The directors are not aware of any reason why the overdraft facility should not be extended by group company facilities. As a result these accounts have been prepared on a going concern basis of accounting. | ||||||||