Registered number: 02154216 | ||||||||
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FOR THE YEAR ENDED 31/12/2020 | ||||||||
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Linley Limited | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/12/2020 | ||||||||
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 31/12/2020 | ||||||||
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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2020 | 2019 | |||||||||
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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574,602 | 629,292 | |||||||||
CREDITORS: Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES |
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(30,423,967) | ||||||||
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 | (29,453,496) | (29,473,692) | ||||||||
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 31/12/2020 | ||||||||||
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 | ||||||||
2020 | 2019 | |||||||
No. | No. | |||||||
Average number of employees |
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- | ||||||
The Company did not employ any personnel during the period 2020 and 2019. | ||||||||
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Linley Limited | ||||||||
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3. FINANCIAL ASSETS | |||||||||
Listed | Other | ||||||||
Investments | Investments | Total | |||||||
£ | £ | £ | |||||||
Cost | |||||||||
At 01/01/2020 | - | 950,375 | 950,375 | ||||||
Additions | 1,025,261 | 74,886 | 1,100,147 | ||||||
Disposals | - | (1,025,261) | (1,025,261) | ||||||
At 31/12/2020 | 1,025,261 | - | 1,025,261 | ||||||
Amortisation | |||||||||
Net Book Amounts | |||||||||
At 31/12/2020 | 1,025,261 | - | 1,025,261 | ||||||
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. 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 shares in Mode Global Holdings plc are still held at 31 December 2020. | |||||||||
4. DEBTORS | 2020 | 2019 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Other debtors | - | 38,171 | ||||||
Amounts due from group companies | 543,881 | 559,534 | ||||||
543,881 | 597,705 | |||||||
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2020 | 2019 | |||||||
£ | £ | |||||||
Amounts due to group companies | 31,053,259 | 31,053,259 | ||||||
31,053,259 | 31,053,259 | |||||||
6. SHARE CAPITAL | 2020 | 2019 | ||||||
£ | £ | |||||||
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 2020 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 | ||||||||
There are no subsequent events which require amendment or disclosure in these financial statements. | ||||||||
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. | ||||||||