Half Yearly Results

RNS Number : 6690M

Ducat Ventures PLC

18 July 2014

 



Ducat Ventures Plc ("Company")

Half Yearly Report

The Board of Ducat presents the unaudited historical financial information of the Company for the 6 months to 31 May 2014. 

Consolidated Statement of Comprehensive Income

For the six months ended 31 May 2014

			Six months  to 31 May 2014	Six months  to 31 May 2013
			(Unaudited)	(Unaudited)
Continuing operations			£	£
Revenue			-	-
Cost of Sales			-	-
			───────	───────
Gross Loss			-	-
Administrative expenses			(57,643)	(166,453)
			───────	───────
Operating Loss			(57,643)	(166,453)
Non Operating Items
Impairment of investments			-	(500,000)
Impairment of intercompany loans			-	(1,384,068)
Surplus arising on settlements with trade creditors			-	-
			───────	───────
			(57,643)	(2,050,521)
Finance Costs			-	-
			───────	───────
Loss Before Tax			(57,643)	(2,050,521)
Taxation			-	-
			───────	───────
Total comprehensive income for the period			(57,643)	(2,050,521)
			═══════	═══════
Loss per share			0.006p	2.29p
			═══════	═══════

Consolidated Balance Sheet

For the six months ended 31 May 2014

			Six months  to 31 May 2014	Six months to 31 May 2013
			(Unaudited)	(Unaudited)
ASSETS			£	£
CURRENT ASSETS
Trade and other receivables			10,034	49,077
Cash and cash equivalents			105,221	4,945
			───────	───────
			115,255	54,022
			───────	───────
Total Assets			115,255	54,022
			═══════	═══════
EQUITY
Shareholders' Equity
Called up share capital			5,742,586	5,636,083
Share premium			1,355,502	1,086,875
Share based payment reserve			27,200	27,200
Retained earnings			(7,013,950)	(6,830,754)
			───────	───────
Total Equity			111,338	(80,596)
			───────	───────
LIABILITIES
CURRENT LIABILITIES
Trade and other payables			3,917	134,618
			───────	───────
			3,917	134,618
			───────	───────
Total Equity and Liabilities			115,255	54,022
			══════	═══════

Consolidated statement of changes in equity

For the six months ended May 2014

	Called up Share Capital	Share Premium	Share- Based Payment Reserve	Retained Earnings	Total Equity
	£	£	£	£	£
Balance at 1 August 2012	5,574,070	838,822	27,200	(4,780,233)	1,659,859
Loss for period	-	-	-	(2,050,521)	(2,050,521)
Issue of shares	62,013	248,053	-	-	310,066
	───────	──────	──────	───────	───────
Balance at 31 May 2013	5,636,083	1,086,875	27,200	(6,830,754)	(80,596)
Loss for the period	-	-	-	(125,553)	(125,553)
Issue of shares	86,165	215,936	-	-	302,101
	───────	──────	──────	───────	───────
Balance at 30 November 2013	5,722,248	1,302,811	27,200	(6,956,307)	95,952
Loss for the period	-	-	-	(57,643)	(57,643)
Issue of ordinary shares at £0.0004 per shares less cost	20,338	52,691	-	-	73,029
	───────	──────	──────	───────	───────
Balance at 31 May 2014	5,742,586	1,355,502	27,200	(7,013,950)	113,338
	══════	══════	══════	══════	═══════

Consolidated Statement of Cash Flows

As at 31 May 2014

		Six months  to 31 May 2014	Six months  to 31 May 2013
		(Unaudited)	(Unaudited)
		£	£
Cash flows from operating activities
Loss before tax		(57,643)	(166,453)
(Increase)/decrease in trade and other  receivables		291,233	(81,262)
Increase)/decrease in trade and other payables		(201,548)	(57,416)
		───────	───────
Net cash from operating activities		32,042	(305,131)
		───────	───────
Cash flows from financing activities
Issue of equity net of costs		73,029	310,067
Finance interest paid		-	-
		───────	───────
Net cash from financing activities		73,029	310,067
		───────	───────
Increase/(decrease) in cash and cash equivalents		105,071	4,936
Cash and cash equivalents at the beginning of period		150	9
		───────	───────
Cash and cash equivalents at the end of period		105,221	4,945
		══════	═══════

Enquiries:

For further information, please contact:

Ducat Ventures plc	Nicholas Nelson	07921 522 920
Cairn Financial Advisers LLP	Liam Murray / Avi Robinson	020 7148 7900
Peterhouse Corporate Finance Ltd	Lucy Williams/ Duncan Vasey	020 7469 0936

 

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