(“BWA” or the “Company”)
UNAUDITED FINANCIAL INFORMATION FOR THE SIX MONTHS ENDED
CHAIRMAN'S STATEMENT
Dear Shareholder
The Board of
The results for the period comprise only the costs of administering the Company for the six months, resulting in an operating loss of £30,648. The Directors are not currently taking any cash remuneration for their services and their fees only become payable on completion of a transaction.
Through its wholly-owned subsidiary,
The Company’s other major investee company,
The Directors are seeking every possible opportunity to develop the Company and provide value to shareholders, who will be updated about developments when appropriate.
The Directors of BWA are responsible for the contents of this announcement.
For further information please contact:
07836 238 172
020 7469 0930
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
INCOME STATEMENT
Notes Six months ended 31 October Year ended 2018 Unaudited 30 April 2018 GBP Audited GBP Turnover - - Cost of sales - - Gross profit - - Administrative expenses (30,648) (62,232) (30,648) (62,232) Other operating income - 891 Operating (loss)/profit (30,648) (61,341) Interest receivable and similar 20 10 income (30,628) (61,331) Interest payable and similar (15,526) (7,510) expenses (Loss)/profit on ordinary activities before and after (46.154) (68,841) taxation and retained for the period (Loss)/earnings per ordinary 2 (0.04) (0.06) share - basic (pence) (Loss)/earnings per ordinary 2 (0.04) (0.06) share - diluted (pence)
All amounts relate to continuing activities.
STATEMENT OF OTHER COMPREHENSIVE INCOME
Notes Six months ended Year ended 31 October 2018 Unaudited 30 April 2018 GBP Audited GBP (Loss)/profit for the period (46,154) (68,841) Other comprehensive income Unrealised (loss)/gain on revaluation of investments 4 (53) (8,226) Total comprehensive income for the (46,207) (77,067) period
BALANCE SHEET
Notes At 31 October 2018 At 30 April 2018 Audited Unaudited £ £ Fixed Assets Available-for-sale 609,993 610,046 Investments Current Assets Debtors and prepayments 173,018 160,701 Cash at bank and in hand 44,669 76,345 217,687 237,046 Creditors: amounts falling (98,447) (82,742) due within one year Net current assets 119,240 154,304 Total assets less current 729,233 764,350 liabilities Capital and reserves Called up share capital 3 602,659 602,659 Share premium 4 12,663 12,663 Capital redemption reserve 4 288,625 288,625 Available-for-sale 4 609,602 609,655 revaluation reserve Equity reserve 4 236,454 225,364 Profit and loss account 4 (1,020,770) (974,616) Shareholders’ funds 729,233 764,350
CASH FLOW STATEMENT
Six months ended Year ended 31 October 2018 Unaudited 30 April 2018 GBP Audited GBP Cash flows from operating activities (20,579) (48,576) Cash flows from investing activities Purchase of fixed asset investments - (1) Loans to group undertakings (7,500) (42,068) Interest received 20 10 Net cash from investing activities (7,480) (42,059) Cash flows from financing activities New loans in year - 150,000 Loan note interest paid (3,617) - (3,617) 150,000 (Decrease)/increase in cash and cash (31,676) 59,365 equivalents Cash and cash equivalents at beginning 76,345 16,980 of year Cash and cash equivalents at end of 44,669 76,345 year
NOTES TO THE FINANCIAL INFORMATION
1. Status of these accounts
The interim accounts for the period from
2. Earnings per ordinary share
Basic and diluted earnings per share figures are based on the following (losses) / profits and numbers of shares:
Six months ended Year ended 31 October 2018 30 April 2018 Unaudited Audited (Loss)/profit before taxGBP(46,154) GBP (68,841) Weighted average number of shares for the purpose 120,531,833 115,186,170 of basic earnings per share Effect of dilutive potential ordinary shares: Share options - - Weighted average number of shares for the purpose 120,531,833 115,186,170 of diluted earnings per share
3. Share capital
At At 31 October 30 April 2018 2018 GBP GBP Allotted, called up and fully paid Number: Class: Nominal Value: 120,531,833 Ordinary 0.5p 602,659 602,659
4. Reserves
Capital redemption reserve AFS Share GBP revaluation reserve premium GBP GBP At 1 May 2018 12,663 288,625 609,655 Revaluation of AFS - - (53) investments Loss for the period - - - Loan note interest - - - At 31 October 2018 12,663 288,625 609,602 Equity Profit reserve and loss Total GBP account GBP GBP At 1 May 2018 225,364 (974,616) 161,691 Revaluation of AFS - - (53) investments Loss for the period - (46,154) (46,154) Loan note interest 11,090 - 11,090 At 31 October 2018 236,454 (1,020,770) 126,574
5. Valuation of Investments
The whole of the Company's investment in
