Company registration number SC290791 (Scotland)
LINNET HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
LINNET HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
LINNET HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
4
850,000
850,000
Current assets
-
-
Creditors: amounts falling due within one year
6
(568,343)
(568,343)
Net current liabilities
(568,343)
(568,343)
Net assets
281,657
281,657
Capital and reserves
Called up share capital
7
100
100
Share premium account
169,900
169,900
Profit and loss reserves
111,657
111,657
Total equity
281,657
281,657
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 14 November 2023 and are signed on its behalf by:
P McAtee
Director
Company Registration No. SC290791
LINNET HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information
Linnet Holdings Limited is a private company limited by shares incorporated in Scotland. The registered office is Block 3 Unit 5, Manor Farm Business Park, Manor Loan, Stirling, Stilringshire, United Kingdom, FK9 5QD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2
Judgements and key sources of estimation uncertainty
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 considered to be 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.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
3
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
850,000
850,000
5
Subsidiaries
Details of the company's subsidiaries at 31 March 2023 are as follows:
LINNET HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
5
Subsidiaries
(Continued)
- 3 -
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Linnet Technology Limited
Scotland
Ordinary
100.00
6
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
558,163
558,163
Other creditors
10,180
10,180
568,343
568,343
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
58
58
58
58
Ordinary B of £1 each
27
27
27
27
Ordinary C of £1 each
15
15
15
15
100
100
100
100