Sport Capital Group Plc Full-year Results to 31 December 2020 - Corrected
June 08 2020 - 6:37AM
UK Regulatory
TIDMSCG
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY SPORT CAPITAL
GROUP PLC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE
REGULATION (EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
SPORT CAPITAL GROUP PLC
(the "Company")
RESULTS FOR YEAR ENDED 31ST DECEMBER 2019
Chairman's Statement
I present below the audited financial results for the year ended 31st December
2019. The financial statements below do not constitute the full statutory
accounts of the Company but are extracted from them. The Annual Report and
Accounts will be posted to shareholders on 8th June 2020, from which date a
copy will also be available on the Company's website www.scgplc.co.uk.
Review of business
The Company has been seeking potential acquisitions and investment
opportunities since its flotation on the Aquis Exchange Growth Market (formerly
NEX Exchange Growth Market).
The loss for the year before and after taxation was GBP63,171 (2018: GBP7,973).
Cash in the bank at the end of December 2019 was GBP11,845 (2018: GBP9,776).
On 28th June 2019, Mr. John Treacy resigned from the Board. At the same time,
Mr. Mark Jackson re-joined the Board.
The Company retains its investment property in Leeds, which has remained let
throughout 2019 on a three-year lease due to expire in August 2021 to a
commercial tenant which is.
Future developments
The Directors remain focused on looking for opportunities where businesses or
companies that they consider have the potential to produce profits/cash-flow
for investors in the short- to medium-term.
Principal risks and uncertainties
Given the nature of the business and activity of the Company, the Directors
believe that the Company is not exposed to significant risks other than
liquidity risk. The Company's continued future operations depend on the ability
to hold sufficient working capital to be able to meet its financial
obligations. The Directors are confident that there is adequate funding to
finance its immediate working capital requirements.
Simon Grant-Rennick,
Chairman,
5th June 2020
SPORT CAPITAL GROUP PLC
STATEMENT OF PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2019
2019 2018
Note GBP GBP
Turnover 4 20,180 10,243
Cost of sales 348 22,971
------------ -----------
Gross profit/(loss) 19,832 (12,728)
Administrative expenses 62,120 36,201
------------ -----------
Operating loss (42,288) (48,929)
Interest payable and similar expenses 6 10,000 5,548
------------ -----------
Loss before taxation (52,288) (54,477)
Tax on loss 7 10,883 (46,504)
----------- -----------
Loss for the financial year and total comprehensive (63,171) (7,973)
income
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Earnings per share
Basic loss per share (pence per share) 8 (0.053) (0.008)
Diluted loss per share (pence per share) 8 (0.050) (0.007)
======== ========
All the activities of the company are from continuing operations.
SPORT CAPITAL GROUP PLC
STATEMENT OF BALANCE SHEET
FOR THE YEAR ENDED 31 DECEMBER 2019
2019 2018
Note GBP GBP
Fixed assets
Tangible assets 9 204,436 204,436
Investments 10 65,250 57,410
------------ ------------
269,686 261,846
Current assets
Debtors 11 40,214 50,203
Cash at bank and in hand 11,845 9,776
---------- ----------
52,059 59,979
Creditors: amounts falling due within one year 12 115,262 116,171
----------- -----------
Net current liabilities 63,203 56,192
----------- -----------
Total assets less current liabilities 206,483 205,654
----------- -----------
Net assets 206,483 205,654
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Capital and reserves
Called up share capital 14 119,234 97,990
Share premium account 15 336,482 293,726
Profit and loss account 15 (249,233) (186,062)
----------- -----------
Shareholders' funds 206,483 205,654
======== ========
These financial statements were approved by the board of directors and
authorised for issue on 5th June 2020, and are signed on behalf of the board
by:
Mr Grant-Rennick
Director
This announcement has been made after due and careful consideration; the
Directors of the Company accept responsibility for the information contained in
it.
REGULATORY ANNOUNCEMENT ENDS
Enquiries:
Sport Capital Group plc:
Simon Grant-Rennick
E-mail: sgrelk7@gmail.com
Mob: +44 797 325 3124
Keith, Bayley, Rogers & Co. Limited (Aquis Exchange Corporate Adviser):
Graham Atthill-Beck
E-mail: Graham.Atthill-Beck@kbrl.co.uk
Tel: +44 20 7464 4091
Mob: +44 750 643 4107; +971 50 856 9408
Brinsley Holman
E-mail: Brinsley.Holman@kbrl.co.uk
Tel: +44 20 7464 4098
Mob: +44 777 630 2228
END
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June 08, 2020 06:37 ET (10:37 GMT)