(“BWA” or the “Company”)
Audited Results for the year ended
REVIEW OF BUSINESS
As shareholders will be aware the company completed a significant transaction on
In the period to
In the period under review your directors continued to nurture the two early stage investments in which the Company already has a direct interest, namely
The
The Board is hopeful that these two investments will yield a return over the medium term having obtained the additional finance they require, obtained market listings or been the subject of trade sales.
KEY PERFORMANCE INDICATOR
The key performance indicator of the company is the valuation of its investment portfolio. At
For further information please contact:
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INCOME STATEMENT FOR THE YEAR ENDED
2019 2018 £ £ TURNOVER - - Administrative expenses 110,876 62,232 110,876 62,232 Other operating income - 891 OPERATING LOSS (110,876) (61,341) Interest receivable and similar income 48 10 (110,828) (61,331) Interest payable and similar expenses (32,577) (7,510) LOSS BEFORE TAXATION (143,405) (68,841) Tax on loss - - LOSS FOR THE FINANCIAL YEAR (143,405) (68,841) Earnings per share expressed in pence per share Basic -0.12 -0.06 Diluted -0.12 -0.06
OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED
2019 2018 £ £ LOSS FOR THE YEAR (143,405) (68,841) OTHER COMPREHENSIVE INCOME Unrealised gain/(loss) on revaluation of investments (1,877) (8,226) Income tax relating to other comprehensive income - - OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX (1,877) (8,226) TOTAL COMPREHENSIVE LOSS FOR THE YEAR (145,282) (77,067)
BALANCE SHEET
2019 2018 £ £ £ £ FIXED ASSETS Available-for-sale investments 608,169 610,046 CURRENT ASSETS Debtors 160,748 160,701 Cash at bank 12,302 76,345 173,050 237,046 CREDITORS Amounts falling due within one year (140,151) (82,742) NET CURRENT ASSETS 32,899 154,304 TOTAL ASSETS LESS CURRENT LIABILITIES 641,068 764,350 CAPITAL AND RESERVES Called up share capital 602,659 602,659 Share premium 12,663 12,663 A-F-S revaluation reserve 607,778 609,655 Capital redemption reserve 288,625 288,625 Equity reserve 247,364 225,364 Retained earnings (1,118,021) (974,616) SHAREHOLDERS' FUNDS 641,068 764,350
The Company’s audited accounts for the year ended
“Emphasis of matter
We draw your attention to note 3 of the financial statements, which describes the uncertainties regarding the valuation of unquoted investments. Our opinion is not modified in this respect.”
The Directors do not recommend the payment of a dividend.
The information above has been extracted from BWA’s audited accounts for the year ended
The Directors of BWA are responsible for the contents of this announcement.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a
