A2D Funding II PLC Annual Financial Report March 2017 (7886M)
01 Août 2017 - 4:06PM
UK Regulatory
TIDMA2D2
RNS Number : 7886M
A2D Funding II PLC
01 August 2017
A2D FUNDING II PLC
AUDITED RESULTS FOR THE PERIOD ENDING 31 March 2017
A2D Funding II plc (LSE: A2D2) announces its audited results for
the year ended 31 March 2017
The following is an extract from the Company's financial
statements which will be posted to shareholders on or around 4
August 2017.
Company summary
A2D Funding II plc ("the Company" or "Issuer") is a special
purpose company established for the purpose of issuing Bonds
(including further bonds issued in accordance with the Conditions)
and lending the proceeds thereof to A2Domionion Housing Group
Limited ("A2Dominion") or one or more of its subsidiaries.
Business review
On 30 September 2014 the Company issued GBP150,000,000 4.50%
Guaranteed Bonds due 30 September 2026. The principal amount raised
from issuing the retail bonds was on-lent to A2Dominon.
Principal risks and uncertainties
The principal risk and uncertainty for the Company is primarily
credit risk and includes the correct and timely receipt of interest
and principal on the loan due from A2Dominion. During the current
and prior period, all such amounts were paid on their due
dates.
The directors have considered the nature and structure of the
Company and are satisfied that there is sufficient capital in
relation to the business activities of the Company and levels of
planned financial performance.
Events after the balance sheet date
There have been no reportable events since 31 March 2017.
Related party transactions
The Company has taken advantage of the exemption under section
33 of FRS102, not to disclose transactions with other group
companies consolidated by A2Dominion Housing Group Limited.
On behalf of the Board
Law Debenture Corporate Services Limited (Company Secretary)
1 August 2017
STATEMENT OF COMPREHENSIVE INCOME
For the year ended 31 March 2017
Year ended Period
31 March 1 October
2017 2015 to
31 March
2016
GBP000 GBP000
------------------------- ----------- -----------
Interest receivable
and similar income 6,817 3,427
Interest payable and
similar charges (6,815) (3,426)
-------------------------- ----------- -----------
Gross profit 2 1
Other operating income 45 32
Administrative expenses (45) (32)
-------------------------- ----------- -----------
Profit on ordinary
activities before
taxation 2 1
Taxation - -
------------------------- ----------- -----------
Profit for the period 2 1
-------------------------- ----------- -----------
There are no recognised gains or losses other than the result
for the period stated above. Accordingly, no statement of total
recognised gains and losses is given.
STATEMENT OF FINANCIAL POSITION
As at 31 March 2017
2017 2016
GBP000 GBP000
-------------------------- ---------- ----------
Financial assets
Loans and receivables 149,378 149,313
--------------------------- ---------- ----------
Current assets
Debtors: Amounts falling
due within one year 32 41
Cash at bank 39 23
71 64
Financial liabilities:
Amounts falling due
within one year (54) (49)
--------------------------- ---------- ----------
Net current assets 17 15
--------------------------- ---------- ----------
Total assets less
current liabilities 149,395 149,328
Financial liabilities:
Amounts falling due
after more than one
year (149,378) (149,313)
--------------------------- ---------- ----------
Net assets 17 15
--------------------------- ---------- ----------
Capital and reserves
Called up share capital 13 13
Profit and loss account 4 2
--------------------------- ---------- ----------
Shareholders' funds 17 15
--------------------------- ---------- ----------
STATEMENT OF CHANGES IN EQUITY
For the year ended 31 March 2017
Retained
Share capital income Total
GBP000 GBP000 GBP000
Total equity as at
1 September 2016 13 1 14
Profit for the period - 1 1
Total equity as at
31 March 2016 13 2 15
Profit for the year - 2 2
------------------------ ---------------- --------- --------
Total equity as at
31 March 2017 13 4 17
------------------------ ---------------- --------- --------
CASH FLOW STATEMENT
For the period ended 31 March 2017
Period
Year ended 1 October
31 March 2015 to
2017 31 March
2016
GBP000 GBP000
Operating activities
Profit on ordinary
activities before
taxation 2 1
Decrease/(increase)
in debtors 9 (41)
Increase/(decrease)
in creditors 5 33
----------------------------------------- ------------- -----------
Cash flow from operating
activities 16 (7)
----------------------------------------- ------------- -----------
Cash flow from investing - -
activities
Cash flow from financing - -
activities-
Net increase/(decrease)
in cash and cash equivalents 16 (7)
Cash and cash equivalent at beginning
of period 23 30
----------------------------------------- ------------- -----------
Cash and cash equivalent at end
of period 39 23
----------------------------------------- ------------- -----------
Directors' responsibility statement
We confirm that to the best of our knowledge:
(a) the financial statements, prepared in accordance with the
applicable set of accounting standards, give a true and fair view
of the assets, liabilities, financial position and profit or loss
of the Issuer and the undertakings included in the consolidation
taken as a whole; and
(b) the management report includes a fair review of the
development and performance of the business and the position of the
issuer and the undertakings included in the consolidation taken as
a whole, together with a description of the principal risks and
uncertainties that they face.
On behalf of the board
Mark Filer
Representing L.D.C. Corporate Director No. 3
1 August 2017
- ENDS-
For further information contact:
Law Debenture Corporate Services Limited (Company Secretary) +44
20 7606 5453
This information is provided by RNS
The company news service from the London Stock Exchange
END
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