Registered number: 02154216 | ||||||||
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FOR THE YEAR ENDED 31/12/2019 | ||||||||
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Linley Limited | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/12/2019 | ||||||||
DIRECTORS | ||||||||
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SECRETARY | ||||||||
Yvonne Kelsey | ||||||||
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 31/12/2019 | ||||||||
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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2019 | 2018 | |||||||||
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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629,292 | 1,569,410 | |||||||||
CREDITORS: Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES |
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(29,490,122) | ||||||||
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 | (29,473,692) | (29,490,222) | ||||||||
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 31/12/2019 | ||||||||||
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 | ||||||||
2019 | 2018 | |||||||
No. | No. | |||||||
Average number of employees | - | - | ||||||
The Company did not employ any personnel during the period 2019 and 2018. | ||||||||
3. FINANCIAL ASSETS | |||||||||
Other | |||||||||
Investments | Total | ||||||||
£ | £ | ||||||||
Cost | |||||||||
Additions | 950,375 | 950,375 | |||||||
At 31/12/2019 | 950,375 | 950,375 | |||||||
Amortisation | |||||||||
Net Book Amounts | |||||||||
At 31/12/2019 | 950,375 | 950,375 | |||||||
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. The loan notes are still held at 31.12.2019. | |||||||||
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Linley Limited | ||||||||
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4. DEBTORS | 2019 | 2018 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Other debtors | 38,171 | - | ||||||
Amounts due from group companies | 559,534 | 1,566,932 | ||||||
597,705 | 1,566,932 | |||||||
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2019 | 2018 | |||||||
£ | £ | |||||||
Amounts due to group companies | 31,053,259 | 31,059,532 | ||||||
31,053,259 | 31,059,532 | |||||||
6. SHARE CAPITAL | 2019 | 2018 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
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100 | 100 | ||||||
100 | 100 | |||||||
7. CONTROLLING PARTY | ||||||||
As at 31 December 2019 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 | ||||||||
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. | ||||||||
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Linley Limited | ||||||||
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10. GOING CONCERN | ||||||||
The director is not aware of any reason why the overdraft facility should not be extended by group company facilites. As a result these accounts have been prepared on a going concern basis of accounting. | ||||||||