(''SMH'' or “the Company'')
Unaudited Interim Report for the six-month period ended
Review of operations for the six-month period ended
The Directors are pleased to announce the interim results for six months ended
The Directors are pleased to report a pre-tax profit of £18,272 (2017 - £210,976) for the period.
The Company paid an interim Ordinary share dividend of 5.5p per share on
A summary of the progress on our current projects is set out below:
The Company has invested in a regeneration property development venture at
St Mark has taken a 40% joint venture interest in the redevelopment of the site at
St Mark has taken a joint venture interest of up to 40% in this development of 34 all private flats in Hounslow,
St Mark has taken a joint venture interest of up to 40% in this development of 40 flats (over new ground floor commercial offices) in Wembley,
Signed on behalf of the board
S Ryan
Director
Unaudited Consolidated Profit and loss account and statement of comprehensive income for the six months ended
2018 2017
£
Group turnover 139,200 71,325
Cost of sales (13,200) (10,806)
Gross Profit 126,000 60,519
Administrative expenses (188,882) (117,847)
Operating Profit/(Loss) (62,882) (57,328)
Negative Goodwill Released 37,993 104,789
Share of operating profit in joint venture 17,629 30,220
Profit before interest and taxation (7,260) 77,681
Interest receivable and similar income 124,108 133,409
Interest payable and similar charges (99,258) (114)
Profit/(Loss) on ordinary activities before taxation 18,272 210,976
Taxation on ordinary activities 3,747 (20,441)
________ _________
Profit /(Loss) on ordinary activities after taxation 22,019 190,535
________ _________
Profit/ (Loss) per share – basic and diluted
Ordinary shares 0.5p 4.3p
All amounts relate to continuing activities.
All recognised gains and losses in the current and prior period are included in the profit and loss account.
Unaudited Consolidated Balance sheet
at
Jun-18 Jun-18 Jun-17 Jun-17
£ £
Non-Current assets
Tangible assets 920 1,227
Current assets
Debtors 8,765,671 5,219,842
Cash at bank and in hand 753,749 955,349
________ ________
9,519,420 6,171,191
Creditors: amounts falling
due within one year (153,315) (186,492)
________ _________
Net current assets 9,366,105 5,988,699
_________ _________
Creditors: amounts falling
due in more than one year (3,465,156) -
_________ _________
Net Assets 5,901,869 5,989,926
_________ _________
Capital and reserves
Called up share capital 2,206,501 2,206,501
Capital redemption reserve 1,009,560 1,009,560
Other reserve 211,822 211,822
Share Premium 375,426 375,246
Merger Reserve 327,060 327,060
Profit and loss account 1,771,680 1,859,737
________ _________
Shareholders’ funds 5,901,869 5,989,926
________ _________
Notes forming part of the unaudited interim report
for the six months ended
1. Accounting Policies
The financial information contained in this unaudited interim report has been prepared on the basis of the accounting policies set out in the
2. Taxation on Profit on ordinary activities
For the purpose of this unaudited interim report, the tax charge is calculated at 19% (2017- 19.25%) of the taxable (loss)/profit for the period.
3. Earnings per share
Earnings per share has been calculated by dividing the profit after tax for the period of £16,585 by the weighted average number of ordinary shares in issue of 4,413,003.
4. Non-Statutory Financial Statements
The financial information contained in this unaudited interim report does not constitute full statutory financial statements as defined by section 240 of the Companies Act 1985.
The Directors of
- Ends –
For further information, please contact:
St Mark Homes Plc Sean Ryan , Finance Director Tel: +44 (0) 20 7903 6777 seanryan@stmarkhomes.comAlfred Henry Corporate Finance Ltd , NEX Exchange Corporate AdviserJon Isaacs /Nick Michaels Tel: +44 (0) 20 7251 3762 www.alfredhenry.com
