Lombard Capital PLC - Half-year Report PR Newswire

LOMBARD CAPITAL PLC
("Lombard" or the "Company")

UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2019

CHAIRMAN'S STATEMENT

Dear shareholder

Your current board of directors continues to focus on investment opportunities and the issuance of asset backed investment bonds. Our bonds are listed on Vienna stock exchange.

My report for the 6 months unaudited figures to 30th September 2019 shows a comprehensive loss of GBP 427,212. This loss is attributable to the operating expenses incurred during the period.

During the period LCP Financial Limited (a wholly owned subsidiary of Lombard Capital Plc) has issued bonds to raise funds for a number of different investment transactions that are at various stages of completion and are looking positive. The directors of LCP Financial Limited are using their best endeavours to achieve a timely completion of all transactions.

I look forward to the future with enthusiasm and thank all my colleagues and our professionals for their support and advice.

I also thank you all as shareholders for your continuing support.

David Grierson.
Chairman
Lombard Capital Plc.
 

30th December 2019

The directors of Lombard Capital Plc accept responsibility for this announcement.

For further information please contact:

Brent Fitzpatrick
Tel:  07718 883813

NEX Exchange Corporate Adviser:
Alfred Henry Corporate Finance Limited
Nick Michaels:  020 3772 0021


Condensed Statement of Comprehensive Income

Six months ended 30 September 2019                           


                                      6 Months ended    Year      6 Months ended
                                                        ended

                                        30/09/2019    31/03/2019    30/09/2018

                                        Unaudited      Audited      Unaudited

                                            £             £             £

Continuing operations

Investment income                                  -           -               -

Operating expenses                         (427,212)   (292,337)        (74,697)

Finance charges                                    -    (29,469)               -

Impairment of                                      -           -               -
investments

Operating loss and loss                    (427,212)   (321,806)        (74,697)
before taxation

Taxation                                           -           -               -

Loss for the period,                       (427,212)   (321,806)        (74,697)
attributable to the
owners

Impairment of investments -                        -           -               -
reclassification to income statement

Market value adjustment                            -      18,750               -
to investments

Total comprehensive                        (427,212)   (303,056)        (74,697)
loss for the period

Loss per share, basic                         (10.1)       (9.3)           (1.8)
and fully diluted (in
pence)




Condensed Statement of Financial Position

As at 30 September 2019                                                                                                                                                     


                                    30/09/2019   31/03/2019   30/09/2018

                                     Unaudited     Audited     Unaudited

                                         £            £            £

Non-current assets

Available for sale investments          131,250      131,250      112,500

Financial assets at amortised cost      653,350      700,700            -

                                        784,600      831,950      112,500

Current assets

Trade and other receivables             182,344       41,296      176,216

Cash and cash equivalents                51,494       12,059        4,130

                                        233,838       53,355      180,346

Total assets                          1,018,438      885,305      292,846

Equity

Ordinary shares                           4,219        4,219        4,219

Deferred shares                         189,897      189,897      189,897

Share premium                           954,574      954,574      954,574

Share option reserve                     80,300       80,300       80,300

Investment revaluation reserve          118,934      118,934      100,184

Retained earnings                   (2,312,487)  (1,885,275)  (1,638,166)

                                      (964,563)    (537,351)    (308,992)

Current liabilities

Trade and other payables                764,000      672,656      601,838

Loans and other borrowings            1,219,000      750,000            -

Total equity and liabilities          1,018,438      885,305      292,846




Notes to the financial statements

Six months ended 30 September 2019                                                                                                                           

1. Basis of preparation                                                                                                                                                         

The financial statements for the six months ended 30 September 2019 are unaudited and do not constitute statutory accounts as defined in Section 434 of Companies Act 2006. The financial information for the year ended 31 March 2019 is extracted from the audited statutory accounts for the year then ended which have been delivered to the Registrar of Companies. The audit report on those accounts was unqualified and did not contain a statement under Section 498(2) or (3) of Companies Act 2006.

The financial information for the six months ended 30 September 2018 has been prepared on the basis of the accounting policies set out in the full annual financial statements of the company for the year ended 31 March 2019.

2. Earnings per share                                                                                                                                                             

The basic and diluted earnings per share is calculated by dividing the loss attributable to the owners of the company by the weighted average number of ordinary shares in issue during the period.

The weighted average number of shares in issue at 30 September 2019 was 4,219,157 (31 March 2019 4,219,157).


3. Investments                       30/09/2019  31/03/2019  30/09/2018

                                      Unaudited     Audited   Unaudited

                                              £           £           £

Investments at cost less impairment     131,250     131,250     112,500

Impairments: Recognised in the year           -           -           -

Market value adjustment                       -           -           -

Market value at period end              131,250     131,250     112,500