Unaudited Interim Report for the six month period ended
Review of operations for the six month period ended
The Directors announce interim results for six months ended
A pre-tax profit of £315,493 (2015 - £144,348) arose during the period.
Distributions to shareholders have also been increased. A 2016 interim dividend of
The net assets per share were
The company made an offer for the entire share capital of
A summary of the progress on individual projects is detailed below:
Signed on behalf of the board
Unaudited Consolidated statement of comprehensive income for the six months ended
2016 2015 £ £ Group turnover 1,423,749 1,225,000 Cost of sales (1,153,400) (1,050,000) Gross Profit 270,349 175,000 Administrative expenses (181,110) (83,537) Operating Profit/(Loss) 89,239 91,463 Joint developers share of profit (100,062) (109,375) Share of operating profit in joint venture 223,387 111,648 Profit before interest and taxation 212,564 93,736 Interest receivable and similar income 103,020 90,879 Interest payable and similar charges (91) (40,267) Profit/(Loss) on ordinary activities before taxation 315,493 144,348 Taxation on ordinary activities (63,099) (28,870) __________ __________ Profit /(Loss) on ordinary activities after taxation 252,394 115,478 __________ __________ Profit/ (Loss) per share – basic and diluted Ordinary shares 8.6p 3.9p
All amounts relate to continuing activities.
All recognised gains and losses in the current and prior period are included in the profit and loss account.
Unaudited Consolidated Balance sheet
Jun-16 Jun-16 Jun-15 Jun-15 £ £ £ £ Non Current assets Tangible assets 1,636 2,494 Current assets Debtors 4,739,511 6,418,628 Cash at bank and in hand 31,662 238,345 ________ ________ 4,771,173 6,565,973 Creditors: amounts falling due within one year (721,448) (3,035,606) ________ ________ Net current assets 4,049,725 3,621,367 ________ ________ Net Assets 4,051,361 3,623,861 ________ ________ Capital and reserves Called up share capital 1,478,478 1,478,748 Capital redemption reserve 1,009,560 1,009,560 Other reserve 211,822 211,822 Profit and loss account 1,351,501 923,731 ________ ________ Shareholders’ funds 4,051,361 3,623,861 ________ ________
Company Registration No 03822978
Notes forming part of the unaudited interim report
for the six months ended
1. Accounting Policies
The financial information contained in this unaudited interim report has been prepared on the basis of the accounting policies set out in the
2. Taxation on Profit on ordinary activities
For the purpose of this unaudited interim report, the tax charge is calculated at 20% of the taxable (loss)/profit for the period.
3. Earnings per share
Earnings per share has been calculated by dividing the profit after tax for the period of £252,394 by the weighted average number of ordinary shares in issue of 2,957,495.
4. Non Statutory Financial Statements
The financial information contained in this unaudited interim report does not constitute full statutory financial statements as defined by section 240 of the Companies Act 1985.