Walls & Futures REIT - Unaudited interim results and development update London Stock Exchange
RNS Number : 3860Y
Walls & Futures REIT PLC
31 December 2019
 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR")

 

31 December 2019

WALLS & FUTURES REIT PLC

 

 ("Wall & Futures" or the "Company")

 

Half Year Results for the period to 30 September 2019 & Development Update

 

Walls & Futures REIT plc ("WAFR") the Ethical Housing Investor and developer, is pleased to announce its interim results for the six months to 30th September 2019.

 

We are also happy to announce the completion of the redevelopment of our Didcot property, the acquisition of which was announced on 4 June 2019. The property has been let on a 25-year full repairing and insuring lease, with rents adjusted annually in line with inflation (CPI), to one of the UK's largest and longest established care providers, who currently support more than 2,500 adults nationwide.

 

Consolidated Income Statement

For the Six-Month Period to 30 September 2019

 

 

6 Months to

30 September 2019

6 Months to

30 September 2018

 

 

£

 

£

 

Rent received

                                67,650

                                67,041

Cost of sales

-

4,826

Increase in property values

-

-

Gross Profit

67,650

62,215

 

 

 

Administrative Expenses

(151,526)

(131,638)

 

____________

____________

OPERATING PROFIT/(LOSS)

(83,876)

(69,423)

Interest receivable and similar income

218

224

Interest payable

(8,542)

-

 

____________

____________

PROFIT/(LOSS) BEFORE TAXATION

(92,200)

(69,199)

Taxation

-

-

 

____________

____________

PROFIT/(LOSS) FOR THE FINANCIAL PERIOD

(92,200)

(69,199)

         

 

 

 

Consolidated Balance Sheet

30 September 2019

 

 

 

30 September 2019

30 September 2018

 

 

£

 

£ 

£

 

£

FIXED ASSETS

 

 

 

 

Investment Property

 

3,730,010

 

3,025,000

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

Cash at Bank

169,036

 

228,710

 

Debtors and Prepayments

6,645

 

5,764

 

 

175,681

 

234,474

 

CREDITORS

 

 

 

 

Amounts falling due within one year

(6,176)

 

(2,367)

 

 

 

 

 

 

NET CURRENT ASSETS

 

169,505

 

232,107

TOTAL ASSETS LESS CURRENT LIABILITIES

 

3,899,515

 

3,257,107

 

Provision for Liabilities

 

            

     -

 

                

 -

 

 

 

 

 

Amounts falling due over one year

 

(600,000)

 

-

 

NET ASSETS

 

 

3,299,515

 

 

3,257,107

 

 

 

 

 

CAPITAL AND RESERVES

 

 

 

 

Called up share capital

 

187,754

 

180,611

Share Premium

 

3,505,154

 

3,412,297

Fair Value Reserve

 

297,150

 

168,333

Retained Earnings

 

 (690,543)

 

 (504,134)

 

 

3,299,515

 

3,257,107

 

 

 

 

 

 

 

                                 

 

The above figures have not been reviewed by the Company's auditors.

 

The Directors of the issuer accept responsibility for the contents of this announcement.

 

For further information, contact:

 

Walls & Futures REIT PLC                                                                             0333 700 7171     

Joe McTaggart, Chief Executive

Website www.wallsandfutures.com

 

 

Allenby Capital Limited (Corporate Adviser)                               

Nick Harriss/James Reeve                                                                           020 3328 5656

 

 


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