Registered number: 02154216 | ||||||||
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FOR THE YEAR ENDED 31/12/2021 | ||||||||
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Linley Limited | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/12/2021 | ||||||||
DIRECTORS | ||||||||
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SECRETARY | ||||||||
Yvonne Kelsey (resigned 26th November 2021) | ||||||||
REGISTERED OFFICE | ||||||||
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COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 02154216 | ||||||||
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Linley Limited | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/12/2021 | ||||||||
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 | - |
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Linley Limited | ||||||||
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BALANCE SHEET AT
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2021 | 2020 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Investment Assets | 3 |
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CURRENT ASSETS | ||||||||||
Debtors | 4 |
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Cash at bank and in hand |
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86,505 | 574,602 | |||||||||
CREDITORS: Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES |
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(30,478,657) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES | ||||||||||
Called up share capital | 6 |
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Profit and loss account | (29,431,602) | (29,453,496) | ||||||||
SHAREHOLDERS' FUNDS |
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Approved by the board on
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............................. | ||||||||||
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Director | ||||||||||
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Linley Limited | ||||||||
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NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/12/2021 | ||||||||||
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 | ||||||||
2021 | 2020 | |||||||
No. | No. | |||||||
Average number of employees |
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- | ||||||
The Company did not employ any personnel during the period 2021 and 2020. | ||||||||
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Linley Limited | ||||||||
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3. FINANCIAL ASSETS | |||||||||
Listed | |||||||||
Investments | Total | ||||||||
£ | £ | ||||||||
Cost | |||||||||
At 01/01/2021 | 1,025,261 | 1,025,261 | |||||||
Additions | 109,929 | 109,929 | |||||||
Disposals | (1,025,261) | (1,025,261) | |||||||
Revaluation | (67,018) | (67,018) | |||||||
At 31/12/2021 | 42,911 | 42,911 | |||||||
Amortisation | |||||||||
Net Book Amounts | |||||||||
At 31/12/2021 | 42,911 | 42,911 | |||||||
At 31/12/2020 | 1,025,261 | 1,025,261 | |||||||
The Company invested $1.25m convertible loan notes in Mode Global Ltd (nee R8 Limited), effective 20 February 2019. The notes earn 5% interest per annum, with the interest due on each anniversary. A supplemental note, effective 01.03.2020, was issued by Mode Global Ltd, in which interest accruing on the loan notes was to be settled in further loan notes instead of cash. The loan notes converted into shares at IPO on 5 October 2020. The majority of the shares in Mode Global Holdings plc were sold during 2021. | |||||||||
4. DEBTORS | 2021 | 2020 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Amounts due from group companies | - | 543,881 | ||||||
- | 543,881 | |||||||
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2021 | 2020 | |||||||
£ | £ | |||||||
Trade creditors | 15,182 | - | ||||||
Amounts due to group companies | 29,545,736 | 31,053,259 | ||||||
29,560,918 | 31,053,259 | |||||||
6. SHARE CAPITAL | 2021 | 2020 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
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100 | 100 | ||||||
100 | 100 | |||||||
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Linley Limited | ||||||||
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7. CONTROLLING PARTY | ||||||||
As at 31 December 2021 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 2 Duke Street, London, SW1Y 6BN. | ||||||||
8. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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9. POST BALANCE SHEET EVENTS | ||||||||
On 12th July 2022 Linley Limited subscribed to £500,000 of unsecured convertible loan notes in Mode Global Holdings PLC, which converted to 1,897,519 equity shares on 11th August 2022. | ||||||||
10. 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. | ||||||||