Walls & Futures REIT - Half-year Report London Stock Exchange
RNS Number : 6730K
Walls & Futures REIT PLC
17 December 2018
 

 

17 December 2018

WALLS & FUTURES REIT PLC

 

 ("Wall & Futures" or the "Company")

 

Half Year Results for the period to 30 September 2018

 

Walls & Futures REIT plc ("WAFR") the Ethical Housing REIT providing homes for vulnerable people through Local Authorities, Housing Association & Charities, is pleased to announce its interim results for the six months to 30th September 2018.

 

Financial Highlights

 

  Net Asset value ("NAV") increased to £3,257,107 from £3,246,226 since the year end.

  NAV per share unchanged at 92p per share since the year end.

 

Joe McTaggart commented:

 

"Although there is increased economic and political uncertainty, the need for Supported Housing and Extra Care places continues to increase throughout the country. 

 

We have identified a number of opportunities and are working with our partners, Local Authorities, Housing Associations and Charities, to deliver these much need places in the near future."

 

Consolidated Income Statement

For the Period 31st March 2017 to 30th September 2017

 


6 Months to

30 September 2018

6 Months to

30 September 2017



£


£

RENT RECEIVED

                                67,041

32,726

INCREASE IN PROPERTY VALUES

-

203,333

Gross Profit

62,215

236,059




Administrative Expenses

(131,638)

(108,675)


____________

____________

OPERATING PROFIT/(LOSS)

(69,423)

127,384

Interest receivable and similar income

224

-


____________

____________

PROFIT/(LOSS) BEFORE TAXATION

(69,199)

127,384

Taxation

-

-


____________

____________

PROFIT/(LOSS) FOR THE FINANCIAL PERIOD

(69,199)

127,384

 

 



 

Consolidated Balance Sheet

30th September 2018




30 September 2018

30 September 2017



£


£ 

£


£

FIXED ASSETS





Investment Property


3,025,00


2,873,109






CURRENT ASSETS





Cash at Bank

228,710


237,194


Debtors and Prepayments

5,764


6,863



234,474


244,057


CREDITORS





Amounts falling due within one year

(2,367)


(12,812)


NET CURRENT ASSETS


232,107


231,245

TOTAL ASSETS LESS CURRENT LIABILITIES


3,257,107


3,104,354

PROVISION FOR LIABILITIES


                  -


                  -

 

NET ASSETS


 

3,257,107


 

3,104,353






CAPITAL AND RESERVES





Called up share capital


180,611


164,511

Share Premium


3,412,297


3,125,714

Retained Earnings


 (504,134)


 (185,871)



3,257,107


3,104,354








 

The above figures have not been reviewed by the Company's auditors.

 

The directors of the issuer accept responsibility for the contents of this announcement.

 

For further information, contact:

 

Walls & Futures REIT PLC                                                                            

Joe McTaggart, Chief Executive

0333 700 7171     

Website www.wallsandfutures.com

 

Allenby Capital Limited (Corporate Adviser)                               

Nick Harriss/James Reeve

020 3328 5656

 

About Walls & Futures REIT plc

 

Walls & Futures is an Ethical Housing REIT providing Supported Housing & Extra Care homes through Local Authorities, Housing Association & Charities.

 

We collaborate with our customers, including charities and housing associations, to design, fund, build and deliver quality homes that are sustainable in terms of their environmental impact, energy efficiency and financially viability.

 

Our aim is to generate a measurable and beneficial social impact alongside a financial return, which is to deliver a long-term annual net return of 7-9% of which 3-4% will be paid in the form of a dividend.

 

Walls & Futures REIT plc was named "Impact Company of the Year" at the 2018 NEX Exchange Small Cap Awards.

 

Walls & Futures is quoted on the NEX Exchange Growth Market (Ticker: WAFR) and is a member of the Social Stock Exchange and Impact Investment Network.

 

 


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