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Registered number: 02154216

Linley Limited

ACCOUNTS
FOR THE YEAR ENDED 31/12/2023


Linley Limited

ACCOUNTS
FOR THE YEAR ENDED 31/12/2023
DIRECTORS
Aurelien Rowland
Sumarmarl Simargool (appointed 12 August 2024)
Andrew Petter (resigned 12 August 2024)
SECRETARY
vacant
REGISTERED OFFICE
86 Jermyn Street
London
SW1Y 6JD
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 Sheet3
Notes To The Accounts4
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 31/12/2023
20232022
Notes££
FIXED ASSETS
Investment Assets3-355,075
CURRENT ASSETS
Debtors4-18,432
Cash at bank and in hand-292,899
-311,331
CREDITORS: Amounts falling due within one year529,755,58630,077,213
NET CURRENT LIABILITIES(29,755,586)(29,765,882)
TOTAL ASSETS LESS CURRENT LIABILITIES(29,755,586)(29,410,807)
CAPITAL AND RESERVES
Called up share capital6100100
Profit and loss account(29,755,686)(29,410,907)
SHAREHOLDERS' FUNDS(29,755,586)(29,410,807)
For the year ending 31/12/2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 09/09/2024 and signed on their behalf by
.............................
Aurelien Rowland
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
20232022
No.No.
Average number of employees--
The Company did not employ any personnel during the period 2023 and 2022.
3. FINANCIAL ASSETS
Listed
InvestmentsTotal
££
Cost
At 01/01/2023355,075355,075
Disposals(355,075)(355,075)
Amortisation
Net Book Amounts
At 31/12/2022355,075355,075
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 20232022
££
Amounts falling due within one year
Accrued income-18,432
-18,432
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
Accruals45,36330,364
Amounts due to group companies29,710,22330,046,849
29,755,58630,077,213
6. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100
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
The Company discharges income and expenditure through its group entities. The facilities are non interest bearing.

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.