("Imperial" or the "Company")
Unaudited interim report for the six months to
Dear Shareholder,
I am pleased present the unaudited financial results for
During the period and with a newly formed Board of Directors, Imperial raised £346,776 by way of a subscription for new equity at 2.5p per share. Following the end of the period under review the shareholders approved a new investing strategy for the Company; to become a company focused on acquiring royalties in the oil and gas sector.
Imperial continues to be run leanly with administration expenses keep as low as possible, however to stay listed and continue to operate in 2020, Imperial will need to seek additional capital to continue its existence. The directors believe that the strategy of the Company will be well supported and that it will have success in raising future capital. Cash at bank at the end of
Financial Position
The interim results have not been reviewed by the Company’s auditor.
The Group’s Statement of Financial Position as at
31 Dec 2019 31 Dec 2018 30 June 2019 £ £ £ Current assets 209,348 69,630 7,667 Total assets 209,348 69,630 7,667 Current liabilities 129,743 111,127 134,272 Total liabilities 129,743 111,127 132,272 Net assets 79,605 (41,497) (126,605)
Chief Executive Officer
The Directors of the Company accept responsibility for the contents of this announcement.
For further information please contact:
+44 (0)7825 551 397
+44 (0)20 7220 9796
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the six months ended
6 months to 31 Dec 6 months to 31 Dec 2018 Year ended 30 2019 Unaudited Unaudited June 2019 £ £ Audited £ Continuing operations - - - Revenue Administrative (191,891) (63,484) (309,248) expenses Loss before taxation (191,891) (63,484) (309,248) Finance income – - 56 59 interest receivable Income tax - - - Loss for the year attributable to the equity shareholders of the (191,891) (63,428) (309,189) parent Other comprehensive income Items that may be subsequently reclassified to profit or loss - - - Other comprehensive income for the year, net of tax - - Total comprehensive (191,891) (63,428) (309,189) income for the period/year attributable to the equity shareholders of the parent Loss per share Basic and diluted loss (0.47p) (0.20p) (0.97p) per share attributable to the equity shareholders of the parent (pence)
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at
As at As at As at31 Dec 2019 Unaudited31 Dec 2018 Unaudited30 June 2019 Audited
£ £ £ ASSETS - - - Total non-current assets Current assets Trade and other receivables 30,034 - 6,335 Cash and cash equivalents 179,314 69,630 1,332 Total current assets 209,348 69,630 7,667 TOTAL ASSETS 209,348 69,630 7,667 LIABILITIES Current Liabilities Trade and other payables 129,743 60,294 134,272 Borrowing - 50,833 - Total current liabilities 129,743 111,127 134,272 TOTAL LIABILITIES 129,743 111,127 134,272 NET ASSETS 79,605 (41,497) (126,605) EQUITY ATTRIBUTABLE TO OWNERS OF THE COMPANY Share capital 221,703 202,786 202,786 Share premium 1,258,931 876,297 876,297 Equity to be issued 27,765 30,715 31,215 Other reserve 161,753 1,600 161,753 Retained losses (1,590,547) (1,152,895) (1,398,656) TOTAL EQUITY 79,605 (41,497) (126,605)
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For the six months ended
Share Share Equity to Other Retained Total capital premium be issued reserves losses Equity £ £ £ £ £ £ At 1 July 2018 202,786 876,297 27,265 1,600 (1,089,467) 18,481 Loss for the period - - - - (63,428) (63,428) Other comprehensive - - - - - - income for the period Total comprehensive - - - - (63,428) (63,428) income for the period Issue of share - - 3,450 - - 3,450 options Balance at 31 202,786 876,297 30,715 1,670 (1,152,895) (41,497) December 2018 At 1 July 2019 202,786 876,297 31,215 161,753 (1,398,656) (126,605) Loss for the period - - - - (191,891) (191,891) Other comprehensive - - - - - - income for the period Total comprehensive - - - - (191,891) (191,891) income for the period Issue of ordinary & 18,917 382,634 401,551 deferred shares Equity to be issued - - (3,450) - - (3,450) Balance at 31 221,703 1,258,931 27,765 161,753 (1,590,547) 79,605 December 2019
CONSOLIDATED STATEMENT OF CASH FLOWS
For the six months ended
6 months to 6 months to Year 31 Dec 2019 Unaudited 31 Dec 2018 ended Unaudited 30 June 2019 Audited £ £ £ Cash flows from operating activities (223,569) (632) (68,925) Net cash used in operating activities (223,569) (632) (68,925) Cash flows from investing activities Interest received - 56 51 Proceeds from convertible note issues - 50,000 - Cash flows generated from investing activities - 50,056 51 Cash flows from financing activities Proceeds from issue of shares 401,551 - 50,000 Cash Flows generated from financing activities 401,551 - 50,000 Net increase/(decrease) in cash and cash equivalents 177,982 (49,424) (18,874) Cash and cash equivalents at beginning of the period 1,332 20,206 20,206 Cash and cash equivalents at end of the period 179,314 69,630 1,332
