TIDMAUCT
RNS Number : 7464A
Auctus Growth Plc
14 September 2018
Auctus Growth plc ('Auctus', the 'Company')
INTERIM REPORT AND UNAUDITED INTERIM FINANCIAL INFORMATION
FOR THE SIX MONTHSED 30 JUNE 2018
Dear Shareholder,
I present the Chairman's report for the financial period ending
30 June 2018, where the Company reported a net loss of GBP12,573
(0.47p per share) and as at 30 June 2018 had liquid cash balances
of GBP961,971.
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
Date: 14 September 2018
STATEMENT OF COMPREHENSIVE INCOME
FOR THE SIX MONTHSED 30 JUNE 2018
1.1.18 to 1.1.17 to Year ended
30.6.18 30.6.17 31.12.17
(unaudited) (unaudited) (audited)
GBP GBP GBP
NET TRADING INCOME - -
Other operating expenses (12,573) (16,459) (35,861)
------------ -------------- --------------
Total operating expenses (12,573) (16,459) (35,861)
------------ -------------- -------------
OPERATING LOSS (12,573) (16,459) (35,861)
Finance income - - -
------------ -------------- ----------
LOSS BEFORE TAXATION (12,573) (16,459) (35,861)
Income tax expense - - -
------------ -------------- -------------
LOSS FOR THE PERIOD ATTRIBUTABLE TO
EQUITY HOLDERS OF THE COMPANY (12,573) (16,459) (35,861)
======= ======== =======
Earnings per share (pence) - basic
and fully diluted (0.47)p (0.62)p (1.34p)
======= ======= =======
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2018
At 30.6.18 At 30.6.17 At 31.12.17
(unaudited) (unaudited) (audited)
GBP GBP GBP
CURRENT ASSETS
Trade and other receivables 7,133 8,239 6,904
Cash and cash equivalents 961,971 991,666 971,581
------------- ------------- -------------
969,104 999,905 978,485
CURRENT LIABILITIES
Trade and other payables (21,019) (19,845) (17,827)
------------- ------------- ------------
NET CURRENT ASSETS 948,085 980,060 960,658
------------- ------------- -------------
NET ASSETS 948,085 980,060 960,658
======== ======== =======
EQUITY ATTRIBUTABLE TO EQUITY HOLDERS
OF THE COMPANY
Share capital 266,900 266,900 266,900
Share premium account 994,271 972,140 994,271
Share-based payment reserve - 22,131 -
Retained earnings (313,086) (281,111) (300,513)
------------- ------------- -------------
TOTAL EQUITY 948,085 980,060 960,658
======== ======== ========
Net asset value per share (basic) 35.52p 36.72p 35.99p
======== ======== ======
STATEMENT OF CASH
FLOWS
FOR THE SIX MONTHSED 30 JUNE 2018
1.1.17 to
1.1.18 to 30.6.18 1.1.17 to 30.6.17 31.12.17
(unaudited) (unaudited) (audited)
GBP GBP GBP
Net cash outflow from
operating activities (9,610) (14,676) (34,761)
---------------- ---------------- ------------
Cash flows from
financing activities
Share issue proceeds - - -
Share issue costs - - -
----------------- ----------------- ---------
(9,610) (14,676) (34,761)
------------------ ------------------ ------------
Cash flows from
investing activities
Finance income - - -
------------------- ------------------- ------------
Net
(decrease)/increase
in cash and cash
equivalents (9,610) (14,676) (34,761)
Cash and cash
equivalents at
beginning of period 971,581 1,006,342 1,006,342
------------------- ------------------- ------------
Cash and cash
equivalents at end of
period 961,971 991,666 971,581
=========== =========== =======
STATEMENT OF CHANGES IN
EQUITY
FOR THE SIX MONTHSED
30 JUNE 2018
Share capital Share premium Share Retained Total
-based payment earnings
reserve
GBP GBP GBP GBP GBP
At 1 January 2017 266,900 972,140 22,131 (264,652) 996,519
Loss for period ended
30 June 2017 - - - (16,459) (16,459)
________ ________ _________ _________ _________
At 30 June 2017 266,900 972,140 22,131 (281,111) 980,060
Loss for period ended
31 December 2017 - - - (19,402) (19,402)
Transfer on expiry of
share options - 22,131 (22,131) - -
________ ________ _________ _________ _________
At 31 December 2017 266,900 994,271 - (300,513) 960,658
Loss for period ended
30 June 2018 - - - (12,573) (12,573)
________ ________ _________ _________ _________
At 30 June 2018 266,900 994,271 - (313,086) 948,085
======= ======= ======= ======= =======
NOTES TO THE INTERIM FINANCIAL INFORMATION
FOR THE SIX MONTHSED 30 JUNE 2018
1. GENERAL
The interim financial information for the six month period ended
30 June 2018 are unaudited and were approved by the Directors of
the Company on 13 September 2018. 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
2017 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 2017 annual financial statements and are expected to be
used for the Company's 2018 annual financial statements.
3. CASH FLOWS FROM OPERATING ACTIVITIES
1.1.18 to 1.1.17 to
30.6.18 30.6.17 1.1.17 to 31.12.17
GBP GBP GBP
Loss before taxation (12,573) (16,459) (35,861)
Adjustments for:
Finance income - - -
-------------------- -------------------- --------------------
(12,573) (16,459) (35,861)
(Increase)/decrease in receivables (229) (2,409) (1,074)
(Decrease)/increase in payables 3,192 4,192 2,174
-------------------- -------------------- --------------------
Net cash (outflows)/inflows from
operating activities (9,610) (14,676) (34,761)
============= ============= =============
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.
Basic Earnings per share Earnings Weighted average Per-share
number of shares amount
GBP No. (pence)
Earnings per share attributed
to ordinary shareholders (12,573) 2,668,999 (0.47)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 2017: 2,668,999; 31 December 2017:
2,668,999).
6. SHARE CAPITAL
Allotted, called up and fully paid:
At 30.6.18 At 30.6.17 At 31.12.17
GBP GBP GBP
2,668,999 Ordinary shares
of GBP0.10
each 266,900 266,900 266,900
=================================== =================================== ===================================
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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
IR SFSFMDFASEEU
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