RNS Number : 0107H
Belvedere Leisure Resorts PLC
20 March 2020
 

20 March 2020

 

Belvedere Leisure Resorts plc

 ("Belvedere" or the "Company")

 

Unaudited Interim Report for the six-month period ended 31 December 2019

 

CHAIRMAN'S REPORT

 

REPORTING PERIOD HIGHLIGHTS

 

I am pleased to present you with Belvedere Leisure Resorts PLC Interim Results for the period ended 31st December 2019.

 

I am delighted to notify that after over one year of hard work, process and the appointment of a number of key professional third party firms, Belvedere Leisure Resorts plc successfully listed onto one of the UKs Regulated Investment Exchanges, the Aquis Stock Exchange (formerly NEX Exchange) with the ticker symbol BELV.  Due to the timing of the listing being just before Christmas and given the operational behaviour of the financial markets at such a time of year, as we now approach spring the Company has engaged in dialogue with investors; the only concerns are the timings now with the global outbreak of COVID19 however we believe that once this is contained and normality resumed then we have the ability to accelerate the programme and still deliver out the first phase of the project on time.  Both myself and the board are excited for the coming 12 months whereby we fully expect to achieve subscriptions into our corporate bond listing and be able to provide the relevant financing to our parent Company Belvedere Leisure Park Ltd (t/a Landal Belvedere) so that they can continue with the leisure development to make it the UKs first purpose built flagship leisure resort for Landal GreenParks and the Awaze Group. 

 

During the period, the Company was pleased to make three key additions to the Board by hiring Paul Brazewell, Christopher Eddlestone and Kenneth Hillen as Non-Executive Directors.  Paul is a member of the Royal Institution of Chartered Surveyors with almost three decades of cost consultancy and project management at director level in both the public and private sectors.  Christopher was formerly a corporate partner at Squire Patton Boggs and has over 30 years' experience in the legal and operational aspects of leisure businesses.  Finally, Ken has held senior banking roles in both a commercial a corporate banking capacity at RBS, Anglo Irish Bank and the Bank of Ireland.  I am pleased as Chairman to welcome all to the Board, as their expertise will provide key pillars as Belvedere Leisure Resorts PLC begins to actively build its business.

 

Kindest regards,

 

ALAN MCNAMARA

Chairman

18th March 2020 

 

 

 

For further information, please contact:

 

Mr Alan McNamara
Executive Director

Belvedere Leisure Resorts plc

T: + 44 (0) 7851 88 00 70

Email: alan@belvederepark.co.uk

 

Alfred Henry Corporate Finance Limited
Aquis Stock Exchange Corporate Advisor to Belvedere Leisure Resorts plc
Jon Isaacs
www.alfredhenry.com
Tel: +44 (0) 203 772 0021

 

 


UNAUDITED PROFIT AND LOSS AND STATEMENT OF COMPREHENSIVE INCOME

for the SIX MONTHS ENDED 31 DECEMBER 2019

 

 

 

Six Months Ended
31 December 2019

UK

Period Ended
30 June 2019

UK

Revenue

 

 

 

Total income

 

-

-

 

 

 

 

Expense

 

 

 

Total expense

 

(329,452)

(80)

 

 

 

 

Loss before tax

 

(329,452)

(80)

Corporation tax

 

-

-

Loss for the period

 

(329,452)

(80)

 

 

 

 

Basic loss per share

 

(6.58904)

(0.0016)

Diluted loss per share

 

(6.58904)

(0.0026)

Weighted average number of shares

 

50,000

50,000

 

No dividends were proposed or declared in respect of any of the periods presented above.

 

The accompanying notes form part of this historical financial information.

 

 

 

UNAUDITED BALANCE SHEET

AS AT 31 DECEMBER 2019

 

 

As at
31 December 2019

UK

As at
30 June 2019

UK

Assets

 

 

 

Trade and other receivables

 

73,873

50,000

Total current assets

 

73,873

50,000

 

 

 

 

 

 

 

 

Total assets

 

73,873

50,000

 

 

 

 

Liabilities

 

 

 

Trade and other payables

 

353,405

80

Total current liabilities

 

353,405

80

 

 

 

 

Total liabilities

 

353,405

80

 

 

 

 

Net assets / (liabilities)

 

(279,532)

49,920

 

 

 

 

Shareholders' equity

 

 

 

Share capital

 

50,000

50,000

Accumulated losses

 

(329,532)

(80)

Total shareholders' deficit

 

(279,532)

49,920

 

The accompanying notes form part of these financial statements

 

 

Notes to the Financial statements

 

1.  BASIS OF ACCOUNTING

The financial information contained in this unaudited interim report has been prepared on the basis of the accounting policies set out in the Belvedere Leisure Resorts PLC for the period ended 30 June 2019, which have been applied consistently.  The financial statements for the period ended 30 June 2019 have been filed at Companies House.  The company's auditors KJG LLP have not reviewed these interim accounts.

 

2.  TAXATION ON PROFIT ON ORDINARY ACTIVITIES

For the purposes of this unaudited interim report, the tax charge is calculated at 19% of the taxable (loss)/profit for the period.

 

3.  EARNINGS PER SHARE

Earnings per share have been calculated by dividing the loss after tax for the period of 329,452 (2019 - 80) by the weighted average number of ordinary shares in issue of 50,000 (2019 - 50,000).

 

4.  NON-STATUTORY FINANCIAL STATEMENTS

This condensed set of Interim Financial Statements for the six months ended 31 December 2019 has been prepared in accordance with FRS104 'Interim Financial Reporting' as adopted by the Financial Reporting Council using the recognition and measurement requirements of FRS 102.  The condensed set of Interim Financial Statements for the six months ended 31 December 2019 should be read in conjunction with the Annual Report and Financial statements for the period ended 30 June 2019.

 

 


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