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Auctus Growth Plc (AUCT)

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Friday 11 August, 2017

Auctus Growth Plc

Half-year Report

RNS Number : 6555N
Auctus Growth Plc
11 August 2017
 



 

 

 

 

 

 

 

 

 

AUCTUS GROWTH PLC

 

 

 

 

INTERIM REPORT AND UNAUDITED INTERIM FINANCIAL INFORMATION

 
 

 

FOR THE SIX MONTHS ENDED 30 JUNE 2017

 

 

 

 

AUCTUS GROWTH PLC
 
CHAIRMAN’S STATEMENT

 

 

 

 

Dear Shareholder,

 

I present the Chairman's report for the financial period ending 30 June 2017, where the Company reported a net loss of £16,459 (0.62p per share) and as at 30 June 2017 had liquid cash balances of £991,666.

 

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 £35,000 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

 

11August 2017

 

 

AUCTUS GROWTH PLC
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE SIX MONTHS ENDED 30 JUNE 2017

 

 

 

1.1.17 to 30.6.17

1.1.16 to 30.6.16

Year ended

31.12.16

 

 

 

(unaudited)

(unaudited)

(audited)

 

 

 

£

£

£

 

 

 

 

 

 

 

 

 

 

 

 

 

NET TRADING INCOME

 

-

-

 

 

 

 

 

 

 

 

 

 

 

 

 

Other operating expenses

(16,459)

(13,913)

(35,783)

 

 

 

 

 

 

 

 

------------

--------------

--------------

 

Total operating expenses

 

(16,459)

(13,913)

(35,783)

 

 

 

------------

--------------

 

-------------

 

OPERATING LOSS

 

(16,459)

(13,913)

(35,783)

 

 

 

 

 

 

Finance income

-

-

-

 

 

------------

--------------

 ----------

 

LOSS BEFORE TAXATION

(16,459)

(13,913))

(35,783)

 

 

 

 

 

 

Income tax expense

 

-

-

-

 

 

 

 

 

 

 

 

 

------------

--------------

-------------

 

LOSS FOR THE PERIOD ATTRIBUTABLE TO EQUITY HOLDERS OF THE COMPANY

 

(16,459)

(13,913)

(35,783)

 

 

 

=======

========

=======

 

 

 

 

 

 

Earnings per share (pence) - basic and fully diluted

 

0.(62)p

(0.52)p

(1.34p)

 

 

=======

=======   

=======

 

 

 

             AUCTUS GROWTH PLC

 
            STATEMENT OF FINANCIAL POSITION
            AS AT 30 JUNE 2017


 

 

 

 

 

 

 

 

 

 

 

 

 

 

At 30.6.17

(unaudited)

At 30.6.16

(unaudited)

At 31.12.16

(audited)

 

 

 

£

£

£

 

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

Trade and other receivables

 

8,239

6,307

5,830

 

Cash and cash equivalents

 

991,666

1,034,582

1,006,342

 

 

 

-------------

-------------

-------------

 

 

 

999,905

1,040,889

1,012,172

 

CURRENT LIABILITIES

 

 

 

 

 

Trade and other payables

 

(19,845)

(22,500)

(15,653)

 

 

 

-------------

-------------

------------

 

NET CURRENT ASSETS

 

980,060

1,018,389

996,519

 

 

 

-------------

-------------

-------------

 

NET ASSETS

 

980,060

1,018,389

996,519

 

 

 

========

========

=======

 

 

 

 

 

 

 

EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE COMPANY

 

 

 

 

 

Share capital

 

266,900

266,900

266,900

 

Share premium account

 

972,140

972,140

972,140

 

Share-based payment reserve

 

22,131

22,131

22,131

 

Retained earnings

 

(281,111)

(242,782)

(264,652)

 

 

 

-------------

-------------

------------

 

TOTAL EQUITY

 

980,060

1,018,389

996,519

 

 

 

 ========

 ========

 ========

 

 

 

 

 

 

 

Net asset value per share (basic)

 

36.72p

38.16p

37.34p

 

 

 

========

========

======

 

            AUCTUS GROWTH PLC

 
           STATEMENT OF CASH FLOWS
           FOR THE SIX MONTHS ENDED 30 JUNE 2017


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.1.17 to 30.6.17

1.1.16 to 30.6.16

1.1.16 to 31.12.16

 

 

 

 

(unaudited)

(unaudited)

(audited)

 

 

 

£

£

£

 

 

 

 

 

 

 

 

Net cash outflow from operating activities 

 

(14,676)

4,031

(24,209)

 

 

 

----------------

------------

--------------

 

Cash flows from financing activities

 

 

 

 

 

Share issue proceeds

 

-

-

-

 

Share issue costs

 

-

-

-

 

 

 

    -----------------

---------

    -----------

 

 

 

(14,676)

4,031

(24,209)

 

 

 

------------------

------------

-------------

 

Cash flows from investing activities

 

 

 

 

 

Finance income

 

-

-

-

 

 

 

-------------------

------------

-------------

 

 

 

 

 

 

 

Net (decrease)/increase in cash and cash equivalents 

 

(14,676)

4,031

(24,209)

 

 

 

 

 

 

 

Cash and cash equivalents at beginning of period

 

1,006,342

1,030,551

1,030,551

 

 

 

-------------------

------------

-------------

 

Cash and cash equivalents at end of period

 

991,666

1,034,582

1,006,342

 

 

 

 ===========

 =======

 =======

 

 

 

 

 

 

 

 

 

 

              AUCTUS GROWTH PLC

 
             STATEMENT OF CHANGES IN EQUITY
             FOR THE SIX MONTHS ENDED 30 JUNE 2017

 

 

 

 

 

 

 

Share capital

Share premium

Share

-based payment reserve

Retained earnings

Total

 

£

£

£

£

£

 

 

 

 

 

 

At 1 January 2016

266,900

972,140

22,131

(228,869)

1,032,302

 

 

 

 

 

 

Loss for period ended 30 June 2016

 

-

 

-

 

-

(13,913)

(13,913)

 

 

 

 

 

 

 

________

________

_________

_________

_________

At 30 June 2016

266,900

972,140

22,131

(242,782)

1,018,389

 

 

 

 

 

 

Loss for period ended 31 December 2016

 

-

-

 

-

(21,870)

(21,870)

 

________

________

_________

_________

_________

At 31 December 2016

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

 

=======

=======

=======

=======

=======

                                                                                                                                                                         

AUCTUS GROWTH PLC
 
NOTES TO THE INTERIM FINANCIAL INFORMATION
FOR THE SIX MONTHS ENDED 30 JUNE 2017

 

 

 

1.   GENERAL

 

        The interim financial information for the six month period ended 30 June 2017 are unaudited and were approved by the Directors of the Company on 11 August 2017. 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 2016 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 2016 annual financial statements and are expected to be used for the Company's 2017 annual financial statements.

 

3.   CASH FLOWS FROM OPERATING ACTIVITIES

 


1.1.17 to 30.6.17

1.1.16 to

 30.6.16

1.1.16 to 31.12.16



£

£

£







Loss before taxation

(16,459)

(13,913)

(35,783)


Adjustments for:





Finance income

-

-

-



 

--------------------

 

--------------------

 

--------------------



(16,459)

(13,913)

(35,783)







(Increase)/decrease in receivables

(2,409)

15,770

16,247


(Decrease)/increase in payables

4,192

2,174

(4,673)



--------------------

--------------------

--------------------


Net cash (outflows)/inflows from operating activities

(14,676)

4,031

(24,209)



=============

=============

=============


 

 

AUCTUS GROWTH PLC
 
NOTES TO THE INTERIM FINANCIAL INFORMATION
FOR THE SIX MONTHS ENDED 30 JUNE 2017

 

 

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 number of shares

   

 

Per-share

       amount

 

 

£

No.     

    (pence)

 

Earnings per share attributed to ordinary shareholders

 

(16,459)

 

2,668,999

 

(0.62)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 2016: 2,668,999; 31 December 2016: 2,668,999).

 

 

6.    SHARE CAPITAL

 

Allotted, called up and fully paid:

 



 

 

At 30.6.17

At 30.6.16

At 31.12.16

 

 

£

£

£

 

2,668,999 Ordinary shares of £0.10 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 company news service from the London Stock Exchange
 
END
 
 
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