Lindens Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09885894 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2020

for

Lindens Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J J Maguire

J J Maguire Jnr

A M Duce

SECRETARY:

J J Maguire Jnr

REGISTERED OFFICE:

The Future Business Park

Darlington Road

SHILDON

Co Durham

DL4 2RB

REGISTERED NUMBER:

09885894 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

140 Coniscliffe Road

DARLINGTON

Co Durham

DL3 7RT

FIXED ASSETS

Investments

4

1,244,068

478,428

CURRENT ASSETS

Debtors

5

95

100

Cash at bank

13,702

14,291

13,797

14,391

CREDITORS

Amounts falling due within one year

6

13,428

517

NET CURRENT ASSETS

369

13,874

TOTAL ASSETS LESS CURRENT LIABILITIES

1,244,437

492,302

CREDITORS

Amounts falling due after more than one year

7

-

500,000

NET ASSETS/(LIABILITIES)

1,244,437

(7,698

)

CAPITAL AND RESERVES

Called up share capital

8

183

100

Share premium

1,265,552

-

Retained earnings

(21,298

)

(7,798

)

SHAREHOLDERS' FUNDS

1,244,437

(7,698

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2020 and were signed on its behalf by:

J J Maguire Jnr - Director

1.	STATUTORY INFORMATION

Lindens Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

Going Concern

The financial statements are prepared on the going concern basis which assumes that the company will continue to trade. However, the validity of the going concern basis is dependent upon the continued support of the directors. If the company is unable to continue to trade, adjustments would be required to reduce the value of assets to their recoverable amounts, to provide for any further liabilities that might arise and to analyse long term liabilities as current liabilities.

Preparation of consolidated financial statements

The financial statements contain information about Lindens Investments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Share based payments

Linden Investments Limited issues equity-settled share options to certain employees within the Group. Equity-settled share-based payment transactions are measured at fair value (excluding the effect of non market-based vesting conditions) at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting year, based on Linden Investments Limited's estimate of shares that will eventually vest and adjusted for the effect of non market-based vesting conditions.

A liability equal to the portion of the services received is recognised at and remeasured based on the current fair value determined at each balance sheet date for cash-settled share appreciation rights, with any changes in fair value recognised in profit or loss. During the year, 10 share options were exercised for a total value of £10. Further disclosure has not been included within the financial statements as the related FRS 102 Section 1A fair value charge is considered not to be material.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 August 2019

478,428

Additions

765,640

At 31 July 2020

1,244,068

NET BOOK VALUE

At 31 July 2020

1,244,068

At 31 July 2019

478,428

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

95

100

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Accruals and deferred income

13,428

517

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Amounts owed to group undertakings

-

100,000

Other creditors

-

300,000

Director's loan account

-

100,000

-

500,000

8.	CALLED UP SHARE CAPITAL

2020

2019

Number

Class

Nominal value

£

£

56

A

£1

51

51

39

B

£1

39

49

20

C

£1

25

-

10

D

£1

10

-

58

E

£1

58

-

183

100

During the period, 58 E shares were issued for cash at a premium of £21,810 per share. During the period, 25 C shares were issued as part of a transaction to acquire the share capital of MCA Floorwise Limited and Floorwise (North East) Limited. During the period, 10 B shares were re-designated as D shares as a result of share options being exercised.

9.	RELATED PARTY TRANSACTIONS

2020

2019

£

£

Amount due to director at the balance sheet date

-

100,000

No interest was charged during the year.