Nova Resources Limited Half Yearly Report (6165A)
30 Septembre 2015 - 8:00AM
UK Regulatory
TIDMNOVA
RNS Number : 6165A
Nova Resources Limited
30 September 2015
Nova Resources Limited
Interim results for the period ended 30 June 2015
The Board of Nova Resources Limited (AIM: NOVA.L), is pleased to
announce its interim results for the six months to 30 June
2015.
Nova Resources Limited 07966 332232
Christopher Morgan, Chairman
SPARK Advisory Partners Limited (Nominated Adviser) 0203 368 3554
Neil Baldwin/Mark Brady
Nova Resources Limited ("the Company")
Chairman's Statement
I have pleasure in presenting our interim report for the period
to 30 June 2015.
We have, as expected, incurred a loss for the period of
GBP176,000, as the Company continues to control costs whilst
developing its current investments. Progress with the current
investments in Enerstry Group Ltd ("Enerstry") and Tricor Plc
("Tricor") has been slow, and the Company manages its costs within
its available cash resources
The Company continues to receive interim loan repayments from
Enerstry, and anticipates that the outstanding balance of the loan
of GBP127,000 will be fully recovered by the end of this calendar
year.
The Board will continue to seek opportunities that fall within
the approved investment policy of the Company.
Christopher Morgan
Chairman.
Nova Resources Limited
Consolidated Comprehensive Income Statement
For the period to 30 June 2015
Notes 6 Months Year to 6 Months
30 June 31 December 30 June
2015 2014 2014
Unaudited Audited Unaudited
GBP000s GBP000s GBP000s
Revenue - - -
Cost of sales - - -
3/4 3/4
3/4 3/4 3/4 3/4 3/4 3/4 3/4
3/4 3/4 3/4 3/4 3/4 3/4
Gross (loss) / profit - - -
Administrative expenses (176) (428) (133)
3/4 3/4
3/4 3/4 3/4 3/4 3/4 3/4 3/4
3/4 3/4 3/4 3/4 3/4 3/4
Operating loss 4 (176) (428) (133)
Loss on disposal of subsidiaries - (97) -
Changes in fair value
of available for sale
assets - (2,398) (2,354)
3/4 3/4
3/4 3/4 3/4 3/4 3/4 3/4 3/4
3/4 3/4 3/4 3/4 3/4 3/4
(176) (2,923) (2,487)
Finance income - - -
Finance expense - - -
3/4 3/4
3/4 3/4 3/4 3/4 3/4 3/4 3/4
3/4 3/4 3/4 3/4 3/4 3/4
Loss before tax from continuing
operation (176) (2,923) (2,487)
3/4 3/4
3/4 3/4 3/4 3/4 3/4 3/4 3/4
3/4 3/4 3/4 3/4 3/4 3/4
Total comprehensive loss
for the period (176) (2,923) (2,487)
Attributable to:
- Owners of the parent (176) (2,923) (2,487)
Loss per share
From continuing operations:
Basic and diluted 6 (0.04p) (0.82p) (0.77p)
Nova Resources Limited
Consolidated Statement of Financial Position
As at 30 June 2015
Notes 6 Months Year to 6 Months
30 June 31 December 30 June
2015 2014 2014
Unaudited Audited Unaudited
GBP000s GBP000s GBP000s
Assets
Non-current assets
Financial assets designated
at fair value through
profit or loss account 209 209 254
Investments 1 1 -
3/4 3/4 3/4 3/4 3/4 3/4 3/4
3/4 3/4 3/4 3/4 3/4
210 210 254
3/4 3/4 3/4 3/4 3/4 3/4 3/4
3/4 3/4 3/4 3/4 3/4
Current assets
Cash and cash equivalents 28 123 4
Trade and other receivables 127 305 491
3/4 3/4 3/4 3/4 3/4 3/4 3/4
3/4 3/4 3/4 3/4 3/4
155 428 495
3/4 3/4 3/4 3/4 3/4 3/4 3/4
3/4 3/4 3/4 3/4 3/4
Total assets 365 638 749
Equity and liabilities
Capital and reserves
Issued capital 3,928 3,928 3,928
Share premium 4,996 4,996 4,996
Loan note equity reserve 10 10 29
Share based payment
reserve 221 221 23
Accumulated deficit (9,120) (8,944) (8,607)
3/4 3/4 3/4 3/4 3/4 3/4 3/4
3/4 3/4 3/4 3/4 3/4
Total equity 35 211 369
3/4 3/4 3/4 3/4 3/4 3/4 3/4
3/4 3/4 3/4 3/4 3/4
Non Current liabilities
Non-interest bearing
loans 104 104 85
3/4 3/4 3/4 3/4 3/4 3/4 3/4
3/4 3/4 3/4 3/4 3/4
104 104 85
3/4 3/4 3/4 3/4 3/4 3/4 3/4
3/4 3/4 3/4 3/4 3/4
Current liabilities
Trade and other payables 226 273 214
Convertible loan - 50 81
3/4 3/4 3/4 3/4 3/4 3/4 3/4
3/4 3/4 3/4 3/4 3/4
226 323 295
3/4 3/4 3/4 3/4 3/4 3/4 3/4
3/4 3/4 3/4 3/4 3/4
Total equity and liabilities 365 638 749
Nova Resources Limited
Consolidated Statement of Cash Flows
For the period to 30 June 2015
Year to
Period to 31 December Period to
30 June 2015 2014 30 June 2014
Unaudited Audited Unaudited
GBP000s GBP000s GBP000s
Operating activities (95) (325) (561)
Investing activities
Disposable of subsidiaries - (97) -
Acquisition of fixed asset - (1) -
investments
Financing activities
Proceeds from issue of
shares - 516 516
Proceeds of issue of loan
note - 30 30
3/4 3/4 3/4 3/4 3/4 3/4 3/4 3/4
3/4 3/4 3/4 3/4 3/4 3/4 3/4
Net cash inflow/(outflow) (95) 123 (15)
Effects of changes in exchange - - -
rates
Cash and cash equivalents
at the beginning of the
period 123 - 19
3/4 3/4 3/4 3/4 3/4 3/4 3/4 3/4
3/4 3/4 3/4 3/4 3/4 3/4 3/4
Bank balances and cash 28 123 4
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