Interim Report (unaudited)
6 Months Ended
Company Number 03822978
1. Review of Operations 2. Unaudited Profit & Loss Account 3. Unaudited Balance Sheet 4. Notes to the Unaudited Interim Report
Bernard J Tansey
Secretary and registered office
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 £144,348 (2014 - £53,629) arose during the period.
Distributions to shareholders have also been increased. A 2015 interim dividend of
The net assets per share were
A summary of the progress on individual projects is detailed below:
Bulvinos House, Ealing, W13:All units on the project have now been sold. Profit has been recognised on the sale of the commercial units within the development in the current period.
Signed on behalf of the board
Unaudited Consolidated Profit and loss account
for the six months ended
2015 2014 £ £ Turnover: group and share of joint venture 2,866,780 1,084,070 Less: share of joint venture turnover (1,641,780) (1,016,570) Group turnover 1,225,000 67,500 Cost of sales (1,050,000) (49,000) Gross Profit 175,000 18,500 Administrative expenses (83,537) (67,220) Operating Profit/(Loss) 91,463 (48,720) Joint developers share of profit (109,375) - Share of operating profit in joint venture 111,648 102,383 Profit before interest and taxation 93,736 53,663 Interest receivable and similar income 90,879 68 Interest payable and similar charges (40,267) (102) Profit/(Loss) on ordinary activities before taxation 144,348 53,629 Taxation on ordinary activities (28,870) - __________ __________ Profit /(Loss) on ordinary activities after taxation 115,478 53,629 __________ __________ Profit/ (Loss) per share – basic and diluted Ordinary shares 3.9p 1.8p
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-15 Jun-15 Jun-14 Jun-14 £ £ £ £ Non Current assets Tangible assets 2,494 2,277 Current assets Debtors 6,418,628 4,464,718 Cash at bank and in hand 238,345 88,071 ________ ________ 6,565,973 4,552,789 Creditors: amounts falling due within one year (3,035,606) (1,397,841) ________ ________ Net current assets 3,621,367 3,154,948 ________ ________ Net Assets 3,623,861 3,157,225 ________ ________ Capital and reserves Called up share capital 1,478,748 1,478,748 Capital redemption reserve 1,009,560 1,009,560 Other reserve 211,822 211,822 Profit and loss account 923,731 457,095 ________ ________ Shareholders’ funds 3,623,861 3,157,225 ________ ________
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 or the period of £115,478 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.