Gledhow Investments PLC Half-year Report

 
TIDMGDH 
 
Gledhow Investments plc 
 
First Half Results to 31 March 2016 
 
Date: 28 April 2016 
 
Results 
 
Gledhow Investments plc ("Gledhow" or the "Company") is pleased to announce its 
half year results ("interim results") for the current financial year.  The 
period covered is from 1 October 2015 to 31 March 2016.  These are unaudited 
interim results. 
 
The Company continues to pursue its investment strategy which has the objective 
of achieving long-term capital growth. 
 
The Company had cash of GBP 190,432 at the period end.  The continued downturn 
in the resources sector was primarily responsible for the unrealised losses. 
During the period the company invested EUR40,000 by way of a convertible into 
Bolt Mobility BV, a Dutch company developing the AppScooter, an electric 
scooter it hopes will be "the Dutch Tesla on two wheels". 
 
Despite the uncertain economic environment the Company is in a strong position, 
thanks to its strong cash position, and we look forward to being able to make 
opportunistic investments in small to medium sized undervalued companies as 
they arise. 
 
Profit and Loss Account 
 
for the six months ended 31 March 2016 
 
                                                        Continuing operations 
 
                                                     Six months to Six months to 
 
                                                         31-Mar-16     31-Mar-15 
 
                                                                 GBP             GBP 
 
Turnover 
 
Proceeds from sale of investments                            1,226             - 
 
Cost of sales (including unrealised losses and gains 
on 
 
investments held for resale)                             '(64,245)     '(62,730) 
 
                                                          ________      ________ 
 
Gross loss                                                (63,019)      (62,730) 
 
Administrative expenses                                   (19,129)      (16,782) 
 
                                                          ________      ________ 
 
Loss on ordinary activities before tax                    (82,148)      (79,512) 
 
Taxation                                                         -             - 
 
                                                          ________      ________ 
 
Loss for the year                                         (82,148)      (79,512) 
 
                                                           =======       ======= 
 
Loss earnings per share - Basic (pence)                    (0.17)p       (0.16)p 
 
                                                             =====        ====== 
 
Balance Sheet as at 31 March 2016 
 
                                                         2016           2015 
 
                                                            GBP              GBP 
 
Current assets 
 
Investments held for resale                           229,946        329,104 
 
Debtors                                                     -            200 
 
Cash at bank and in hand                              190,432        218,936 
 
                                                    _________      _________ 
 
                                                      420,378        548,240 
 
Creditors: amounts falling due 
 
within one year                                       (5,931)        (1,761) 
 
                                                    _________      _________ 
 
Net current assets and total assets 
 
less current liabilities                              414,447        546,479 
 
                                                     ========       ======== 
 
Capital and reserves 
 
Called up share capital                               490,000        490,000 
 
Share premium account                                  71,122         71,122 
 
Profit and loss account                             (190,777)       (58,745) 
 
Other reserve                                          44,102         44,102 
 
                                                    _________      _________ 
 
Shareholders' funds 
 
- equity interests                                    414,447        546,479 
 
                                                     ========       ======== 
 
Notes 
 
1.       The interim results together with the related notes set out below have 
been approved by the board of directors of Gledhow Investments plc. 
 
2.       The Company's strategy is to make short to medium term investments in 
small to medium sized quoted or 
 
          unquoted companies. These investments are carried in the accounts as 
current asset investments and are valued at lower of cost and net realisable 
value. 
 
3.       The financial results detailed above are unaudited, and have not been 
reviewed by the auditors of the Company. 
 
4.       Earnings per share - Basic 
 
The loss per share for the six months ended 31 March 2016 is calculated on the 
loss on ordinary activities after tax of GBP82,148 (2015: loss of GBP79,512) 
divided by the weighted average number of 49,000,000 (2015: 49,000,000) 
ordinary shares of 1p each in issue during the period. 
 
5.       The financial information in this report does not constitute Statutory 
Accounts within the meaning of Section 434 of the Companies Act 2006. The 
financial statements for the year ended 30 September 2015 have been delivered 
to the Registrar of Companies and the auditors' report on those financial 
statements was unqualified and did not contain a statement made under Section 
498(2) or Section 498(3) of the Companies Act 2006. 
 
For further information please contact: 
 
Brett Miller:                                           07770447338 
                  (Gledhow Investments plc) 
 
The Directors of the issuer accept responsibility for the contents of this 
announcement. 
 
 
 
END 
 

(END) Dow Jones Newswires

April 28, 2016 05:49 ET (09:49 GMT)