Interim Results for the six months period to 31 December 2018 InPublic Interim Results for the six months period to <chron>31 December 2018</chron>

29th March 2019

Welney Plc
("Welney" or the "Company")

Interim Results for the six months period to 31 December 2018

Chairman’s Statement

Welney Plc is pleased to announce its unaudited interim results for the 6 months period to 31 December 2018. Operational costs for the period amounted to £33k for the 6 months to December 2018 compared to £37k for the 6 months to December 2017 and continue to keep costs to a minimum whilst it continues to look for investment opportunities.

The Board continues to review a number of potential acquisitions and proposals which is reliant on new investment being achieved by virtue of equity or loan capital.

The company continues to be supported by loans arranged by the company’s directors.

Further announcements will be made in due course.

Darren Edmonston
Chairman


Welney Plc
Unaudited Profit and Loss Account
Six months ended 31 December 2018

  6 months ended  31st Dec 2018 6 months ended  31st Dec 2017
  GBP '000  GBP '000
Revenue   -   - 
Other Income  -   - 
   
Gross Profit  -   - 
   
Administrative Expenses  (33,503)  (32,394
   
Operating (Loss)  (33,503)  (32,394)
   
Interest payable  - (4,724)
   
Profit / (Loss) on ordinary activities  (33,503)(37,118)
   



Welney Plc
Balance Sheet as at 31 December 2018

 6 months ended  31st Dec 2018  6 months ended  31st Dec 2017
  GBP '000  GBP '000
   
Current assets  
Trade and other receivables--
Debtors11,07811,346
Cash and cash equivalents--
Investments2,3281,567
   
Total Assets  13,40612,913
   
Current Liabilities  
Trade and other payables  (45,619)(37,455)
   
Net Current Assets(32,213)(24,542)
   
Long term Liabilities(269,062)(209,250)
   
Net (Liabilities)(301,275)  (233,792)
   
Shareholders' Equity  
Share Capital  1,545,5111,545,511
Share Premium Reserve1,562,3361,562,336
Loan note Reserve10,71410,714
Share option Reserve--
Reserves(3,419,836)(3,352,353)
   
Shareholders’ deficit(301,275)(233,792)

The financial information set out above has not been reviewed or audited by the company's auditors.

The directors of Welney Plc accept responsibility for this announcement.

For further information:

Welney Plc
Darren Edmonston
+44 (0) 1279 635511

CORPORATE ADVISER AND CONTACT DETAILS:

Alexander David Securities Limited
David Scott
Telephone: +44 (0) 20 7448 9820
49 Queen Victoria Street EC4N 4SA

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