Interim Report (unaudited)
6 Months Ended
Company Number 03822978
Contents
1. Review of Operations 2. Unaudited Profit & Loss Account 3. Unaudited Balance Sheet 4. Notes to the Unaudited Interim Report
Directors
Bernard J Tansey
Secretary and registered office
Company number
03822978
Auditors
Middlesex House
Hayes
Middlesex
UB4
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
S Ryan
Director
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
at
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.
