Audited Annual Results for the year ended
I am pleased to report the final audited results for the year ended
The turnover for the year was nil (2017: nil) and the loss was £213,462 (2017: £88,741). The loss per share was
Review of operations
The Company’s investment strategy is to seek medium-to-long term investments in businesses that exhibit growth potential. The Company continues to be an active investor in situations where the Company can make a clear contribution to the growth and development of the investment.
During the year the company raised an additional £500,000 in equity before costs, which has enabled the commencement of setting up a office in the
During the year the company has seen a slowing down of opportunities within
The company is still well placed to take advantage of any opportunities as they are arise through 2019 onwards.
The Company’s shares are traded on NEX EXCHANGE Growth Market.
CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME
For the year ended 31 DECEMBER 2018
Audited Audited Year ended Year ended 31 December 31 December 2018 2017 GBP GBP Revenue - - Other Income 6,367 1 Administrative Expenses (219,829) (88,742) Profit / (Loss) Before Income Tax (213,462) (88,741) Income Tax - - Profit / (Loss) for the period attributable to equity (213,462) (88,741) holders Earnings / (Loss) per share (0.09p) (0.05p) Basic & Diluted (pence)
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 DECEMBER 2018
Audited Audited Year ended Year ended 31 December 31 December 2018 2017 GBP GBP Non-current Assets Property, plant and equipment 16,090 - Goodwill 1,150 1,150 Investment in an associate 12,500 12,500 Loans receivable 25,000 - Total Non-current Assets 54,740 13,650 Current assets Prepayments 47,620 7,159 Loans Receivable 110,415 - Cash and cash equivalents 56,902 57,531 Total Current Assets 214,937 64,690 Current Liabilities Trade and other payables 161,565 174,411 161,565 174,411 Net Current Assets/(Liabilities) 53,372 (109,721) Total Assets Above/(less) Current Liabilities 108,112 (96,071) Non-current liabilities Amounts due to directors 14,227 32,397 Amount due to a shareholder - 13,585 14,227 45,982 Net Assets/(Liabilities) 93,885 (142,053) Shareholders' Equity Called Up Share Capital 664,994 638,428 Retained Earnings (551,109) (780,481) Total Equity 93,885 (142,053)
CONSOLIDATED STATEMENT OF CASH FLOW
For the year ended 31 DECEMBER 2018
Audited Audited Year ended Year ended 31 December 31 December 2018 2017 GBP GBP Profit/(Loss) before tax (213,462) (88,741) Adjustment: Other income 4,910 - Depreciation (6,367) (1) Operating profit/(loss) (214,919) (88,742) Cash flows from operating activities (Increase)/decrease in trade and other receivables (40,461) (163) Increase/(decrease) in trade and other payables (12,846) 143,108 Amounts due to directors (18,170) 19,260 Cash utilised in operations (286,396) 73,463 Cash flows from investing activities Purchase of property, plant and equipment (21,000) - Loans receivable (135,415) - Bank interest received 6,367 1 Net cash (used in) from investing activities (150,048) 1 Cash flows from financing activities Proceeds from issuance of shares 449,400 - Amount due to a shareholder (13,585) (21,509) Net cash from financing activities 435,815 (21,509) Net decrease in cash and cash equivalents (629) 51,955 Cash and cash equivalents at the beginning of the 57,531 5,576 period Cash and cash equivalents at end of period 56,902 57,531
The directors of
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