ST MARK HOMES II PLC - Half-yearly Report PR Newswire
St Mark Homes Plc

Interim Report (unaudited) 6 Months Ended

30 June 2014

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

Barry Tansey
Bernard J Tansey
Sean Ryan
William Gair

Secretary and registered office

Barry Tansey, Heron House, 109 Wembley Hill Road, Wembley, Middlesex, HA9 8DA

Company number

03822978

Auditors

Kingston Smith LLP
Middlesex House
800 Uxbridge Road
Hayes
Middlesex
UB4 0RS

Review of operations for the six month period ended 30 June 2014

The Directors announce interim results for six months ended 30 June 2014. The
company continues to trade as a residential contractor and developer.

The Company continues to target projects based in London, the South East and
South Western regions of the United Kingdom. The Company typically undertakes
its business within special purpose vehicles and on a joint venture /profit
sharing basis with other house builders. The company built on its positive 2013
results in the first half of 2014. A pre-tax profit of £53,629 (2013- £251,621)
arose during the period with completing sales at The Pond House, Pittville
Crescent,Cheltenham contributing £102,383 to group profitability.

Looking forward the board anticipate our current projects will meet and
actually outperform initial expectations. Sales have now been agreed on all
residential units at the The Pond House, Pittville Crescent, Cheltenham and
Bulvinos House, Ealing projects. The Vertex Apartments, Palmerston Road,
Wimbledon project has also sold well off-plan with contracts exchanged on 80%
of the private sale units. As previously advised it is expected that the above
three projects will generate over £1m of profit for the company.

The Hatherley Road, Cheltenham development is also proceeding in accordance
with program and should complete in the first half of 2015.

A 2014 interim dividend of 3.3 pence per share was declared in June 2014 and
will be paid to shareholders in August. This represents an increase on 10% on
the 2013 dividend and has been accrued for within these interim accounts.

The net assets per share were 107 pence at the end of the reporting period.

The special resolutions presented to the 2014 AGM were all passed. This
facilitated a change of name from St Mark Homes II Plc, removed certain
borrowing restrictions and authorised the allotment of a small amount of new
share capital. Any shareholder wishing to purchase new shares is invited to
register their interest with Barry Tansey before 30 September 2014.

Signed on behalf of the board

S Ryan
Director

                               St Mark Homes Plc

Unaudited Consolidated Profit and loss account for the six months ended 30 June 2014



                                                  30-Jun-14     30-Jun-13

                                                       £             £

Turnover: group and share of joint venture        1,084,070     1,282,000

Less: share of joint venture turnover           (1,016,570)   (1,270,000)



Group turnover                                       67,500        12,000

Cost of sales                                      (49,000)      (19,474)



Gross Profit                                         18,500       (7,474)

Administrative expenses                            (67,220)      (73,876)



Operating Profit (loss)                            (48,720)      (81,350)

Share of operating profit in joint venture          102,383       313,628

Interest receivable and similar income                   68        19,477

Interest payable and similar charges                  (102)         (134)



Profit/(Loss) on ordinary activities before          53,629       251,621
taxation

Taxation on ordinary activities                           -      (28,193)



Profit /(Loss) on ordinary activities after          53,629       223,428
taxation



Profit per share                                       1.8p          7.6p


All amounts relate to continuing activities.

All recognised gains and losses in the current and prior year are included in
the profit and loss account.

                               St Mark Homes Plc

             Unaudited Consolidated Balance sheet at 30 June 2014


                                June 2014  June 2014    June 2013  June 2013

                                        £          £            £          £

Non Current assets

Tangible assets                                2,277                   2,033

Current assets

Debtors                         4,464,718               1,094,213

Cash at bank and in hand           88,071               2,111,583

                                4,552,789               3,205,796

Creditors: amounts falling

due within one year            (1,397,841)               (39,754)


Net current assets                         3,154,948               3,166,042

Net Assets                                 3,157,225               3,168,075

Capital and reserves

Called up share capital                    1,478,748               1,478,748

Capital redemption reserve                 1,009,560               1,009,518

Other reserve                                211,822                 211,822

Profit and loss account                      457,095                 467,987

Shareholders' funds                        3,157,225               3,168,075


Company Registration No 03822978

                               St Mark Homes Plc

Notes forming part of the unaudited interim report for the six months ended 30
                                   June 2014



 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 St Mark Homes
II PLC audited financial statements for the year ended 31 December 2013, which
have been applied consistently. The financial statements for the year ended 31
December 2013 have been filed at Companies House. The company's auditors
Kingston Smith LLP have not reviewed these accounts.

 2. Taxation on loss 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 after relief of losses
carried forward.

 3. Earnings per share

Earnings per share has been calculated by dividing the profit for the period of
£ 53,629 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.