("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 at
31 Dec 2019 Unaudited 31 Dec 2018 Unaudited 30 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
