Audited Annual Results for the year ended
I am pleased to report the final audited results for the year ended
The turnover for the year was nil (2016: nil) and the loss was £88,741 (2016: £124,394). The loss per share was
Review of operations
The Company’s investment strategy is to seek medium-to-long term investments in businesses that exhibit growth potential. The Company intends to be an active investor in situations where the Company can make a clear contribution to the growth and development of the investment.
The Company’s shares are traded on NEX EXCHANGE Growth Market.
During the year under review, Gary Willinge left the Company. I would like to thank him all for his past service to the Company.
I am pleased to announce
At the start of the 2018, the Company raised £500,000 in new equity and has opened an office in the
The Directors are see opportunities to promote
I hope to be able to give further news of these developments in the near future.
The directors of
For further information:
+44 (0)20 3286 6388
NEX EXCHANGE CORPORATE ADVISER:
Telephone: +44 (0) 20 7448 9820
CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME
For the year ended 31 DECEMBER 2017
Audited Audited Year ended Year ended 31 December 31 December 2017 2016 GBP GBP Revenue - - Other Income 1 - Administrative Expenses (88,742) (124,394) Profit / (Loss) Before Income Tax (88,741) (124,394) Income Tax - - Profit / (Loss) for the period attributable to equity (88,741) (129,394) holders Earnings / (Loss) per share (0.05p) (0.07p) Basic & Diluted (pence)
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 DECEMBER 2017
Audited Audited Year ended Year ended 31 December 31 December 2017 2016 GBP GBP Non-current Assets Property, plant and equipment - - Investment in a subsidiary 1,150 1,150 Investment in an associate 12,500 12,500 Total Non-current Assets 13,650 13,650 Current assets Trade and other receivables 7,159 6,996 Cash and cash equivalents 57,531 5,576 Total Current Assets 64,690 12,572 Current Liabilities Trade and other payables 174,411 19,771 Amount due to a shareholder - 94 174,411 19,865 Net Current Liabilities (109,721) (7,293) Net Assets (96,071) 6,357 Non-current liabilities Accruals - 11,532 Amounts due to directors 32,397 13,137 Amount due to a shareholder 13,585 35,000 45,982 59,669 Net Liabilities (142,053) (53,312) Shareholders' Equity Called Up Share Capital 638,428 638,428 Retained Earnings (780,481) (691,740) Total Equity (142,053) (53,312)
CONSOLIDATED STATEMENT OF CASH FLOW
For the year ended 31 DECEMBER 2017
Audited Audited Year ended Year ended 31 December 31 December 2017 2016 GBP GBP Profit/(Loss) before tax (88,741) (124,394) Adjustment: Other income 1 - Depreciation - 5,631 Operating profit/(loss) (88,742) (118,763) Cash flows from operating activities (Increase)/decrease in trade and other receivables (163) (6,945) Increase/(decrease) in trade and other payables (143,108) (33,908) Amounts due to directors 19,260 13,137 Cash utilised in operations (73,463) (146,479) Cash flows from investing activities Acquisition of a subsidiary - (1,150) Acquisition of an associate - (12,500) Bank interest received 1 - Net cash (used in) from investing activities 1 (13,650) Cash flows from financing activities Proceeds from issuance of shares - 120,345 Amount due to a shareholder (21,509) 35,094 Net cash from financing activities (21,509) 155,439 Net decrease in cash and cash equivalents 51,955 (4,690) Cash and cash equivalents at the beginning of the 5,576 10,266 period Cash and cash equivalents at end of period 57,531 5,576