AUDITED RESULTS FOR THE YEAR ENDING
I am pleased to present the financial results for
At the year end, the value of our investment portfolio in unquoted securities (
At the end of the year our investment portfolio stood at £642,411 (2016: £594,436).
The Group is working towards a closer relationship with
POST-BALANCE SHEET EVENTS
The Company continues to seek further acquisitions that meet its investment criteria and intend to raise additional funds in the future when suitable investment opportunities present.
The Company's investment strategy is to invest in early stage, small to medium high-growth enterprises around the world. The Directors will continue to evaluate suitable investments opportunities.
On behalf of the Board, I would like to take this opportunity to thank shareholders and professional advisers for their continued support of the Company.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED
31 AUGUST, 20172017 2016 GBP GBP CONTINUING OPERATIONS TURNOVER - 25,723 ADMINISTRATIVE EXPENSES (137,791) (135,242) FINANCE COSTS (1,196) (904) (LOSS) BEFORE TAX (138,987) (110,423) INCOME TAX - - (LOSS) FOR THE YEAR £(138,987) £(110,423) TOTAL COMPREHENSIVE LOSS FOR THE YEAR £(138,987) £(110,423) BASIC AND DILUTED LOSS PER SHARE (PENCE) (0.02) (0.02)
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT
31 AUGUST, 20172017 2016 GBP GBP NON-CURRENT ASSETS Available-for-sale financial assets 642,411 594,436 CURRENT ASSETS Trade and other receivables 2,338 31,518 Cash and cash equivalents 22,018 96,134 24,356 127,652 CURRENT LIABILITIES Trade and other payables (9,964) (16,298) NET CURRENT (LIABILITIES)/ASSETS 14,392 111,354 NET ASSETS £656,803 £705,790 REPRESENTING:- Share capital 824,623 809,623 Share premium 758,590 683,590 Fair value reserve 49,031 49,031 Accumulated losses (975,441) (836,454) SHAREHOLDERS’ FUNDS £656,803 £705,790
This financial information has been extracted from the audited financial statements of the Group for the year ended
The Directors do not propose to pay a dividend for the year.
The Directors of the Company accept responsibility for this announcement.
Tel: +44 (0)7830 182501
NEX CORPORATE ADVISER:
Alexander David Securities Limited
Telephone: +44 (0) 20 7448 9820