TIDMAUCT
RNS Number : 0654U
Auctus Growth Plc
24 July 2020
AUCTUS GROWTH PLC
INTERIM REPORT AND UNAUDITED INTERIM FINANCIAL INFORMATION
FOR THE SIX MONTHSED 30 JUNE 2020
CHAIRMAN'S STATEMENT
Dear Shareholder,
I present the Chairman's report for the financial period ending
30 June 2020, where the Company reported a net loss of GBP65,286
(2.45p per share) and as at 30 June 2020 had liquid cash balances
of GBP779,709. The loss for the period was predominately incurred
as a result of normal operating costs associated with maintaining
the Company's Standard Listing.
Costs continue to be prudently monitored but have increased in
comparison to the previous financial period. The increase from the
previous period was due to additional professional, regulatory and
insurance costs.
On 10 January 2020 Charles Cannon Brookes resigned from the
Board and was replaced by Ross Ainger. Ross has co-managed Initial
Public Offering (IPO) and Reverse Takeover (RTO) transactions on
the London markets including the Company's IPO and will play a key
role in managing any acquisition made by the Company.
The Board continues to evaluate potential transactions in this
challenging economic climate and will update shareholders at the
appropriate time. Myself and the Board continue to be very
appreciative of your patience.
Malcolm Burne
Chairman
Date: 23 July 2020
STATEMENT OF COMPREHENSIVE INCOME
FOR THE SIX MONTHSED 30 JUNE 2020
1.1.20 to 1.1.19 to Year ended
30.6.20 30.6.19 31.12.19
(unaudited) (unaudited) (audited)
GBP GBP GBP
NET TRADING INCOME - - -
Other operating expenses (65,285) (19,388) (56,518)
------------ ------------ --------------
Total operating expenses (65,285) (19,388) (56,518)
------------ ------------ -------------
OPERATING LOSS (65,285) (19,388) (56,518)
Finance income - - -
------------ -------------- -------------
LOSS BEFORE TAXATION (65,285) (19,388) (56,518)
Income tax expense - - -
------------ ------------ -------------
LOSS FOR THE PERIOD ATTRIBUTABLE
TO EQUITY HOLDERS OF THE COMPANY (65,285) (19,388) (56,518)
======= ======= =======
Earnings per share (pence) - basic
and fully diluted (2.45)p (0.73)p (2.12p)
======= ======= =======
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2020
At 30.6.20 At 30.6.19 At 31.12.19
(unaudited) (unaudited) (audited)
GBP GBP GBP
CURRENT ASSETS
Trade and other receivables 24,755 2,180 14,636
Cash and cash equivalents 779,909 911,712 859,296
------------- ------------- -------------
804,664 913,892 873,932
CURRENT LIABILITIES
Trade and other payables (13,517) (20,330) (17,500)
------------- ------------- ------------
NET CURRENT ASSETS 791,147 893,562 856,432
------------- ------------- -------------
NET ASSETS 791,147 893,562 856,432
======== ======== =======
EQUITY ATTRIBUTABLE TO EQUITY HOLDERS
OF THE COMPANY
Share capital 266,900 266,900 266,900
Share premium account 994,271 994,271 994,271
Share-based payment reserve - - -
Retained earnings (470,024) (367,609) (404,739)
------------- ------------- -------------
TOTAL EQUITY 791,147 893,562 856,432
=======
======== ======== ========
Net asset value per share (basic) 29.64p 33.48p 32.09p
======== ======== ======
STATEMENT OF CASH FLOWS 01.01.20 to 30.06.20 01.01.19 to 30.06.19 01.01.19 to 31.12.19
FOR THE SIX MONTHSED 30 JUNE 2020
(unaudited (unaudited) (audited)
GBP GBP GBP
Net cash outflow from operating activities (79,387) (8,550) (60,966)
------------------ ------------------ ------------------
Cash flows from financing activities
Share issue proceeds - - -
Share issue costs - - -
------------------ ------------------ ------------------
(79,387) (8,550) (60,966)
------------------ ------------------ ------------------
Cash flows from investing activities
Finance income - - -
------------------ ------------------ ------------------
Net (decrease)/increase in cash and cash
equivalents (79,387) (8,550) (60,966)
Cash and cash equivalents at beginning of
period 859,296 920,262 920,262
------------------ ------------------ ------------------
Cash and cash equivalents at end of period 779,909 911,712 859,296
========== ========== ==========
STATEMENT OF CHANGES IN
EQUITY
FOR THE SIX MONTHSED
30 JUNE 2020
Share capital Share premium Share Retained Total
-based payment earnings
reserve
GBP GBP GBP GBP GBP
At 1 January 2019 266,900 994,271 - (348,221) 912,950
Loss for period ended
30 June 2019 - - - (19,388) (19,388)
________ ________ _________ _________ _________
At 30 June 2019 266,900 994,271 - (367,609) 893,562
Loss for period ended
31 December 2019 - - - (37,130) (37,130)
Transfer on expiry of - -
share options - - -
________ ________ _________ _________ _________
At 31 December 2019 266,900 994,271 - (404,739) 856,432
Loss for period ended
30 June 2020 - - - (65,285) (65,285)
________ ________ _________ _________ _________
At 30 June 2020 266,900 994,271 - (470,024) 791,147
======= ======= ======= ======= =======
NOTES TO THE INTERIM FINANCIAL INFORMATION
FOR THE SIX MONTHSED 30 JUNE 2020
1. GENERAL
The interim financial information for the six month period ended
30 June 2020 are unaudited and were approved by the Directors of
the Company on 23 July 2020. 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
2019 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 2019 annual financial statements and are expected to be
used for the Company's 2020 annual financial statements.
3. CASH FLOWS FROM OPERATING ACTIVITIES
1.1.20 to 1.1.19 to
30.6.20 30.6.19 1.1.19 to 31.12.19
GBP GBP GBP
Loss before taxation (65,285) (19,388) (56,518)
Adjustments for:
Finance income - - -
-------------------- -------------------- --------------------
(65,285) (19,388) (56,518)
Decrease/(increase) in receivables (10,119) 8,008 (4,448)
Increase/ (Decrease) in payables (3,983) 2,830 -
-------------------- -------------------- --------------------
Net cash (outflows)/inflows from
operating activities (79,387) (8,550) (60,966)
============= ============= =============
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 (65,285) 2,668,999 (2.45)p
========= ============ =========
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 2019: 2,668,999; 31 December 2019:
2,668,999).
6. SHARE CAPITAL
Allotted, called up and fully paid:
At 30.6.20 At 30.6.19 At 31.12.19
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 d uring 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 SEFFLLESSEFW
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