THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY QUETZAL CAPITAL PLC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Quetzal Capital Plc
(formerly
Financial Results for Year Ended 30th
Chairman’s Statement
Financial Results
Presented below are the audited financial statements of
Shareholders will see that there was a profit for last year of £275,963 (2018-19, loss £ (66,439)) but that shareholders’ funds in the Statement of Financial Position continue to show a deficit of £ (41,557), albeit this is at significantly lower level than that of financial 2018-19 (£ (334,211)). The reduction in the deficit of shareholders’ funds and the difference of £342,402 in the result in the Statement of Comprehensive Income below are linked to the measures which were approved on the penultimate day of the financial year 2019-20 and outlined below; they do not result from any trading activity or asset sales. They arise rather from the arrangements entered into between the Company and certain of its creditors whereby those creditors accepted repayment of the indebtedness owed to them at a discount of 92.5p in each £1 (ninety-two and a half pence in the pound); and from a refinancing consisting of new equity share capital and convertible loan capital aggregating £50,000 (fifty thousand pounds) provided by the current Directors, who are
Changes of Directorate and Other Matters
Following the Full details of the measures approved by shareholders on 29th
Post- Balance Sheet Developments
On 5th
Future Prospects
Chairman,
2nd
Quetzal Capital PLC
Statement of Comprehensive Income
Year ended
| 2020 | 2019 | ||
| Note | £ | £ | |
| Administrative expenses | (284,981) | 58,696 | |
| -------- | -------- | ||
| Operating profit/(loss) | 284,981 | (58,696) | |
| Interest payable and similar expenses | 9,018 | 7,743 | |
| -------- | -------- | ||
| Profit/(loss) before taxation | 275,963 | (66,439) | |
| Tax on profit/(loss) | – | – | |
| -------- | -------- | ||
| Profit/(loss) for the financial year and total comprehensive income | 275,963 | (66,439) | |
| ======== | ======== | ||
All the activities of the Company are from continuing operations.
Quetzal Capital PLC
Statement of Financial Position
| 2020 | 2019 | ||
| £ | £ | ||
| Fixed assets | |||
| Investments | 2,187 | 1,248 | |
| Current assets | |||
| Debtors | 7,495 | 6,214 | |
| Creditors: amounts falling due within one year | |||
| Trade creditors | 39,571 | 56,141 | |
| Amounts owed to group undertakings | 1,000 | 1,000 | |
| Other creditors including taxation and social security | 2,134 | – | |
| Accruals and deferred income | 8,534 | 7,500 | |
| -------- | -------- | ||
| 51,239 | 64,641 | ||
| -------- | -------- | ||
| Net current liabilities | 43,744 | 58,427 | |
| -------- | -------- | ||
| Total assets less current liabilities | (41,557) | (57,179) | |
| Creditors: amounts falling due after more than one year | |||
| Other creditors including taxation and social security | – | 277,032 | |
| -------- | -------- | ||
| Net liabilities | (41,557) | (334,211) | |
| ======== | ======== | ||
| Capital and reserves | |||
| Called up share capital | 1,552,202 | 1,545,511 | |
| Share premium account | 1,572,336 | 1,562,336 | |
| Profit and loss account | (3,166,095) | (3,442,058) | |
| -------- | -------- | ||
| Shareholders deficit | (41,557) | (334,211) | |
| ======== | ======== | ||
Quetzal Capital PLC
Statement of Changes in Equity
Year ended
Called up share capital |
Share premium account |
Other reserves, including the fair value reserve | Profit and loss account |
Total |
||
| £ | £ | £ | £ | £ | ||
| At |
1,545,511 | 1,562,336 | 10,714 | (3,386,333) | (267,772) | |
| Loss for the year | (66,439) | (66,439) | ||||
| Other comprehensive income for the year: | ||||||
| Transfer from equity reserve to profit and loss account | – | – | (10,714) | 10,714 | – | |
| -------- | -------- | -------- | -------- | -------- | ||
| Total comprehensive income for the year | – | – | (10,714) | (55,725) | (66,439) | |
| At |
1,545,511 | 1,562,336 | – | (3,442,058) | (334,211) | |
| Profit for the year | 275,963 | 275,963 | ||||
| -------- | -------- | -------- | -------- | -------- | ||
| Total comprehensive income for the year | – | – | – | 275,963 | 275,963 | |
| Issue of shares | 6,691 | 10,000 | – | – | 16,691 | |
| -------- | -------- | -------- | -------- | -------- | ||
| Total investments by and distributions to owners | 6,691 | 10,000 | – | – | 16,691 | |
| -------- | -------- | -------- | -------- | -------- | ||
| At |
1,552,202 | 1,572,336 | – | (3,166,095) | (41,557) | |
| ======== | ======== | ======== | ======== | ======== | ||
Quetzal Capital PLC
Statement of Cash Flows
Year ended
| 2020 | 2019 | |
| £ | £ | |
| Cash flows from operating activities | ||
| Profit/(loss) for the financial year | 275,963 | (66,439) |
| Adjustments for: | ||
| Fair value adjustment of investment property | (1,187) | 1,080 |
| Interest payable and similar expenses | 9,018 | 7,743 |
| Other operating cash flow adjustment | (334,658) | – |
| Changes in: | ||
| Trade and other debtors | (1,281) | 3,145 |
| Trade and other creditors | 61,163 | 62,214 |
| -------- | -------- | |
| Cash generated from operations | 9,018 | 7,743 |
| Interest paid | (9,018) | (7,743) |
| -------- | -------- | |
| Net cash used in operating activities | - | – |
| ========= | ========= | |
| Net decrease in cash and cash equivalents | - | – |
| Cash and cash equivalents at beginning of year | - | – |
| -------- | -------- | |
| Cash and cash equivalents at end of year | - | – |
| ======== | ======== |
This announcement has been issued after due and careful enquiry; the Directors of Quetzal Capital Plc accept responsibility for the content.
Enquiries:
Quetzal Capital Plc
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