TIDMAUCT
RNS Number : 1001L
Auctus Growth Plc
28 September 2016
Auctus Growth plc
28 September 2016
Auctus Growth plc ('Auctus', the 'Company')
INTERIM ACCOUNTS
Dear Shareholder,
I present the Chairman's report for the financial period ending
30 June 2016, where the Company reported a net loss of GBP13,913
(0.52p per share) and as at 30 June 2016 had liquid cash balances
of GBP1,034,582.
During this financial period the Board has continued to actively
evaluate a number a potential transactions across a variety of
different sectors. At this time no formal agreement has been
entered into by the Company however the Board remains focused on
delivering a transaction that brings both value and growth
potential to the Shareholders of Auctus Growth in the near
term.
Costs continue to be prudently monitored and are in line with
the previously announced budget of GBP35,000 per annum. The
Directors continue to draw no fees from the Company.
Finally the Board would like to thank Shareholders for their
continued patience and support. Further updates will be provided in
due course in regard to the future plans for the Company.
Malcolm Burne
Chairman
28 September 2016
1.1.16 to 1.1.15 to Year ended
Notes 30.6.16 30.6.15 31.12.15
(unaudited) (unaudited) (audited)
GBP GBP GBP
NET TRADING INCOME - -
Other operating expenses (13,913) (100,253) (189,219)
------------ -------------- --------------
Total operating expenses (13,913) (100,253) (189,219)
------------ -------------- -------------
OPERATING LOSS (13,913) (100,253) (100,253)
Finance income - - -
------------ -------------- ----------
LOSS BEFORE TAXATION (13,913) (100,253) (189,219)
Income tax expense - -
------------ -------------- -------------
LOSS FOR THE PERIOD ATTRIBUTABLE
TO EQUITY HOLDERS OF THE COMPANY (13,913) (100,253) (189,219)
======= ======== =======
Earnings per share (pence) - basic
and fully diluted (0.52)p (2.73)p (7.49p)
======= ======= ======
At 30.6.16 At 30.6.15 At 31.12.15
(unaudited) (unaudited) (audited)
Notes GBP GBP GBP
CURRENT ASSETS
Trade and other receivables 6,307 34,126 22,077
Cash and cash equivalents 1,034,582 1,096,820 1,030,551
------------- ------------- -------------
1,040,889 1,130,946 1,052,628
CURRENT LIABILITIES
Trade and other payables (22,500) (18,000) (20,326)
------------- ------------- ------------
NET CURRENT ASSETS 1,018,389 1,112,946 1,032,302
------------- ------------- -------------
NET ASSETS 1,021,089 1,112,946 1,032,302
======== ======== =======
EQUITY ATTRIBUTABLE TO EQUITY HOLDERS
OF THE COMPANY
Share capital 9 266,900 244,000 266,900
Share premium account 972,140 886,465 972,140
Share-based payment reserve 22,131 22,131 22,131
Retained earnings (242,782) (39,650) (228,869)
------------- ------------- -------------
TOTAL EQUITY 1,018,389 1,112,946 1,032,302
=======
======== ======== ========
Net asset value per share (basic) 38.16p 45.61p 39.44p
======== ======== ======
1.1.15 to 1.1.15 to 1.1.15 to
30.6.15 30.6.15 31.12.15
(unaudited) (unaudited) (audited)
Notes GBP GBP GBP
Net cash outflow from operating
activities 4,031 (81,381) (174,844)
---------------- ---------------- ----------------
Cash flows from financing activities
Share issue proceeds - - 114,500
Share issue costs - - (5,925)
----------------- ----------------- --------------
4,031 - 108,575
------------------ ------------------ -------------
Cash flows from investing activities
Finance income - - -
------------------- ------------------- -------------
Net (decrease)/increase in cash
and cash equivalents 4,031 (81,381) 1,096,820
Cash and cash equivalents at beginning
of period 1,030,551 1,096,820 1,096,820
------------------- ------------------- -------------
Cash and cash equivalents at end
of period 1,034,582 1,015,439 1,030,551
=========== =========== =======
Share capital Share premium Share Retained Total
-based payment earnings
reserve
GBP GBP GBP GBP GBP
At 1 January 2015 244,000 886,465 22,131 (39,650) 1,112,946
Loss for period ended
30 June 2015 - - - (100,253) (100,253)
________ ________ _________ _________ _________
At 30 June 2015 244,000 886,465 22,131 (139,903) 1,012,693
Proceeds of issue of shares 22,900 91,600 - - 114,500
Costs of share issue - (5,925) - - (5,925)
Loss for period ended
31 December 2015 (88,966) (88,966)
________ ________ _________ _________ _________
At 31 December 2015 266,900 972,140 22,131 (228,869) 1,032,302
Loss for period ended
30 June 2015 - - - (13,913) (13,913)
________ ________ _________ _________ _________
At 30 June 2015 266,900 972,140 22,131 (242,782) 1,018,389
======= ======= ======= ======= =======
1. GENERAL
The interim financial information for the six month period ended
30 June 2016 are unaudited and were approved by the Directors of
the Company on 27 September 2016. The condensed financial
information set out above does not constitute statutory accounts
within the meaning of Section 434 of the Companies Act 2006.
The financial information contained in this report in respect of
the annual financial statements for the period ended 31 December
2015 has been extracted from the report and financial statements
for that period which have been filed with the Registrar of
Companies. The report of the auditors on those accounts did not
contain a statement under section 498(2) or (3) of the Companies
Act 2006 and was not qualified.
The interim financial information is unaudited and has not been
reviewed by the auditors.
The Company's operations are not subject to seasonality or
cyclicality.
No dividend has been declared or paid in this interim
period.
2. ACCOUNTING POLICIES
The principal accounting policies and methods of computation
have remained unchanged from those used in the preparation of the
Company's 2015 annual financial statements and are expected to be
used for the Company's 2016 annual financial statements.
3. CASH FLOWS FROM OPERATING ACTIVITIES
1.1.15 to 1.1.15 to 1.1.15 to
30.6.15 30.6.15 31.12.15
GBP GBP GBP
Loss before taxation (13,913) (100,253) (189,219)
Adjustments for:
Finance income - - -
-------------------- -------------------- --------------------
(13,913) (100,253) (189,21981)
Decrease in receivables 15,770 27,272 12,049
(Decrease)/increase in payables 2,174 (8,400) 2,326
-------------------- -------------------- --------------------
Net cash inflows/(outflows) from
operating activities 4,031 (81,381) (174,844)
============= ============= =============
4. EARNINGS PER SHARE
Basic earnings per share is calculated by dividing the earnings
attributable to ordinary shareholders by the weighted average
number of ordinary shares outstanding during the period. Diluted
earnings per share is calculated using the weighted average number
of shares adjusted to assume the conversion of all dilutive
potential ordinary shares.
Weighted average
number of shares Per-share
Basic Earnings per share Earnings Amount
(pence)
GBP No
Earnings per share attributed
to ordinary shareholders (13,913) 2,668,999 (0.52)p
========= ============ =========
The Company has made a loss and, accordingly the effect of the
share options is anti-dilutive.
5. NET ASSET VALUE PER SHARE
The "basic" net asset value per share figures are calculated on
the basis of the net assets attributable to equity shareholders
divided by the number of ordinary shares in issue at the relevant
dates of 2,668,999 (30 June 2015: 2,440,000; 31 December 2015:
2,668,999).
6. SHARE CAPITAL
Allotted, called up and fully paid:
At 30.6.16 At 30.6.15 At 31.12.15
GBP GBP GBP
2,668,999
Ordinary
shares of
GBP0.10
each 266,900 244,000 266,900
=================================== =================================== ===================================
7. COPIES OF INTERIM REPORT
Copies of the interim report are available to the public free of
charge from the Company at 5th Floor 15 Whitehall, London, England,
SW1A 2DD during normal office hours, Saturdays and Sundays
excepted, for 14 days from today and are available on the website
at www.auctusgrowthplc.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR SEFFEAFMSEDU
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