Company Registration No. SC290791 (Scotland)
LINNET HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
PAGES FOR FILING WITH REGISTRAR
LINNET HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
LINNET HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2019
31 October 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Investments
2
850,000
850,000
Current assets
-
-
Creditors: amounts falling due within one year
4
(568,343)
(568,343)
Net current liabilities
(568,343)
(568,343)
Total assets less current liabilities
281,657
281,657
Capital and reserves
Called up share capital
5
100
100
Share premium account
169,900
169,900
Profit and loss reserves
111,657
111,657
Total equity
281,657
281,657
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 October 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he 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 7 April 2020 and are signed on its behalf by:
Mr James Laughlin
Mrs Jean Laughlin
Director
Director
Company Registration No. SC290791
LINNET HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
- 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 a
mounts
in these financial statements are
rounded to the nearest £.
2
Fixed asset investments
2019
2018
£
£
Investments
850,000
850,000
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 November 2018 & 31 October 2019
850,000
Carrying amount
At 31 October 2019
850,000
At 31 October 2018
850,000
LINNET HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2019
- 3 -
3
Subsidiaries
Details of the company's subsidiaries at 31 October 2019 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Linnet Technology Limited
Scotland
Ordinary
100.00
LINNET HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2019
- 4 -
4
Creditors: amounts falling due within one year
2019
2018
£
£
Amounts owed to group undertakings
558,163
558,163
Other creditors
10,180
10,180
568,343
568,343
5
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary of £1 each
100
100
6
Related party transactions
During the year the company received a dividend from Linnet Technology Limited of £65,000. At 31 October 2019 the company was due £558,163 (2018 - £558,163) to Linnet Technology Limited.