2023-04-012024-03-312024-03-31false06834644LINETEN LIMITED2024-05-01iso4217:GBPxbrli:pure068346442023-04-01068346442024-03-31068346442023-04-012024-03-31068346442022-10-01068346442023-03-31068346442022-10-012023-03-3106834644bus:SmallEntities2023-04-012024-03-3106834644bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3106834644bus:FullAccounts2023-04-012024-03-3106834644bus:PrivateLimitedCompanyLtd2023-04-012024-03-3106834644core:WithinOneYear2024-03-3106834644core:AfterOneYear2024-03-3106834644core:WithinOneYear2023-03-3106834644core:AfterOneYear2023-03-3106834644core:ShareCapital2024-03-3106834644core:SharePremium2024-03-3106834644core:RevaluationReserve2024-03-3106834644core:OtherReservesSubtotal2024-03-3106834644core:RetainedEarningsAccumulatedLosses2024-03-3106834644core:ShareCapital2023-03-3106834644core:SharePremium2023-03-3106834644core:RevaluationReserve2023-03-3106834644core:OtherReservesSubtotal2023-03-3106834644core:RetainedEarningsAccumulatedLosses2023-03-3106834644core:LandBuildings2024-03-3106834644core:PlantMachinery2024-03-3106834644core:Vehicles2024-03-3106834644core:FurnitureFittings2024-03-3106834644core:OfficeEquipment2024-03-3106834644core:NetGoodwill2024-03-3106834644core:IntangibleAssetsOtherThanGoodwill2024-03-3106834644core:ListedExchangeTraded2024-03-3106834644core:UnlistedNon-exchangeTraded2024-03-3106834644core:LandBuildings2023-03-3106834644core:PlantMachinery2023-03-3106834644core:Vehicles2023-03-3106834644core:FurnitureFittings2023-03-3106834644core:OfficeEquipment2023-03-3106834644core:NetGoodwill2023-03-3106834644core:IntangibleAssetsOtherThanGoodwill2023-03-3106834644core:ListedExchangeTraded2023-03-3106834644core:UnlistedNon-exchangeTraded2023-03-3106834644core:LandBuildings2023-04-012024-03-3106834644core:PlantMachinery2023-04-012024-03-3106834644core:Vehicles2023-04-012024-03-3106834644core:FurnitureFittings2023-04-012024-03-3106834644core:OfficeEquipment2023-04-012024-03-3106834644core:NetGoodwill2023-04-012024-03-3106834644core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3106834644core:ListedExchangeTraded2023-04-012024-03-3106834644core:UnlistedNon-exchangeTraded2023-04-012024-03-3106834644core:MoreThanFiveYears2023-04-012024-03-3106834644core:Non-currentFinancialInstruments2024-03-3106834644core:Non-currentFinancialInstruments2023-03-3106834644dpl:CostSales2023-04-012024-03-3106834644dpl:DistributionCosts2023-04-012024-03-3106834644core:LandBuildings2023-04-012024-03-3106834644core:PlantMachinery2023-04-012024-03-3106834644core:Vehicles2023-04-012024-03-3106834644core:FurnitureFittings2023-04-012024-03-3106834644core:OfficeEquipment2023-04-012024-03-3106834644dpl:AdministrativeExpenses2023-04-012024-03-3106834644core:NetGoodwill2023-04-012024-03-3106834644core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3106834644dpl:GroupUndertakings2023-04-012024-03-3106834644dpl:ParticipatingInterests2023-04-012024-03-3106834644dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3106834644core:ListedExchangeTraded2023-04-012024-03-3106834644dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3106834644core:UnlistedNon-exchangeTraded2023-04-012024-03-3106834644dpl:CostSales2022-10-012023-03-3106834644dpl:DistributionCosts2022-10-012023-03-3106834644core:LandBuildings2022-10-012023-03-3106834644core:PlantMachinery2022-10-012023-03-3106834644core:Vehicles2022-10-012023-03-3106834644core:FurnitureFittings2022-10-012023-03-3106834644core:OfficeEquipment2022-10-012023-03-3106834644dpl:AdministrativeExpenses2022-10-012023-03-3106834644core:NetGoodwill2022-10-012023-03-3106834644core:IntangibleAssetsOtherThanGoodwill2022-10-012023-03-3106834644dpl:GroupUndertakings2022-10-012023-03-3106834644dpl:ParticipatingInterests2022-10-012023-03-3106834644dpl:GroupUndertakingscore:ListedExchangeTraded2022-10-012023-03-3106834644core:ListedExchangeTraded2022-10-012023-03-3106834644dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-10-012023-03-3106834644core:UnlistedNon-exchangeTraded2022-10-012023-03-3106834644core:NetGoodwill2024-03-3106834644core:IntangibleAssetsOtherThanGoodwill2024-03-3106834644core:LandBuildings2024-03-3106834644core:PlantMachinery2024-03-3106834644core:Vehicles2024-03-3106834644core:FurnitureFittings2024-03-3106834644core:OfficeEquipment2024-03-3106834644core:AfterOneYear2024-03-3106834644core:WithinOneYear2024-03-3106834644core:ListedExchangeTraded2024-03-3106834644core:UnlistedNon-exchangeTraded2024-03-3106834644core:ShareCapital2024-03-3106834644core:SharePremium2024-03-3106834644core:RevaluationReserve2024-03-3106834644core:OtherReservesSubtotal2024-03-3106834644core:RetainedEarningsAccumulatedLosses2024-03-3106834644core:NetGoodwill2023-03-3106834644core:IntangibleAssetsOtherThanGoodwill2023-03-3106834644core:LandBuildings2023-03-3106834644core:PlantMachinery2023-03-3106834644core:Vehicles2023-03-3106834644core:FurnitureFittings2023-03-3106834644core:OfficeEquipment2023-03-3106834644core:AfterOneYear2023-03-3106834644core:WithinOneYear2023-03-3106834644core:ListedExch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LINETEN LIMITED

Registered Number
06834644
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

LINETEN LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

CROPPER, Samuel Joseph
KLEIN, Thomas
ROBBINS, David Francis
WILLCOX, Nicholas David

Registered Address

1st Floor Sackville House
143-149 Fenchurch Street
London
EC3M 6BN

Registered Number

06834644 (England and Wales)
LINETEN LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets39382,601
Investments41,966,8391,966,839
1,967,7771,969,440
Current assets
Debtors3,301,3003,341,537
Cash at bank and on hand218,751465,794
3,520,0513,807,331
Creditors amounts falling due within one year5(3,162,778)(344,465)
Net current assets (liabilities)357,2733,462,866
Total assets less current liabilities2,325,0505,432,306
Creditors amounts falling due after one year6-(500,994)
Net assets2,325,0504,931,312
Capital and reserves
Called up share capital3,437,0063,437,006
Share premium23,819,29323,819,293
Profit and loss account(24,931,249)(22,324,987)
Shareholders' funds2,325,0504,931,312
The financial statements were approved and authorised for issue by the Board of Directors on 1 May 2024, and are signed on its behalf by:
WILLCOX, Nicholas David
Director
Registered Company No. 06834644
LINETEN LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
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).
Functional and presentation currency
The financial statements are presented in GBP sterling and this is the functional currency of the Company.
Going concern
The financial statements have been prepared on a going concern basis which assumes the Company's ability to continue trading (and thus pay its debts as they fall due) for the foreseeable future. The Company is loss making. During the period, debt funding totalling £2,200,000 was made available by investors. The company continues to keep its cash utilisation to a much reduced rate and has access to funding lines from investors as required. Therefore the directors are satisfied that the going concern basis is appropriate for the preparation of these financial statements.
Turnover policy
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from delivery services is recognised on the date of delivery. Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the terms of the contract.
Interest income
Interest income is recognised using the effective interest rate method.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling 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. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method. The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Depreciation is provided on the following basis:

Straight line (years)
Fixtures and fittings3
Office Equipment3
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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 included in the profit and loss account.
Trade and other 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.
Trade and other 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.
Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year2521
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 April 2384,63984,639
Transfers(75,813)(75,813)
At 31 March 248,8268,826
Depreciation and impairment
At 01 April 2382,03882,038
Charge for year1,6631,663
Other adjustments(75,813)(75,813)
At 31 March 247,8887,888
Net book value
At 31 March 24938938
At 31 March 232,6012,601
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 April 231,966,8391,966,839
At 31 March 241,966,8391,966,839
Net book value
At 31 March 241,966,8391,966,839
At 31 March 231,966,8391,966,839

Notes

1Investments in group undertakings and participating interests
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables157,04799,533
Amounts owed to related parties2,681,000-
Taxation and social security90,72056,276
Other creditors11,6462,419
Accrued liabilities and deferred income222,365186,237
Total3,162,778344,465
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. At the end of the period, there were creditors due to shareholders amounting to £2,681,000 (prior period £0) that are payable on demand or within a year.
6.Creditors: amounts due after one year

2024

2023

££
Other creditors-500,994
Total-500,994
At the end of the period, there were creditors due to shareholders amounting to £0 (prior period £500,994.08) that are due in more than one year.
7.Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.