Gledhow Investments plc: Interim Financial Results to 31 March 2023 (1649871)

Gledhow Investments plc (GDH) Gledhow Investments plc: Interim Financial Results to 31 March 2023 06-Jun-2023 / 07:00 GMT/BST

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Gledhow Investments plc Interim results for the six-months ended to 31 March 2023

6 June 2023 Results

Gledhow Investments plc ("Gledhow" or the "Company") is pleased to announce its unaudited half year results ("interim results") for the six-month period from 1 October 2022 to 31 March 2023. These interim results have not been audited or reviewed by the Company's auditor.

The Company continues to pursue its investment strategy which has the objective of achieving long-term capital growth.

The Company had cash of GBP 339,447 at the period end. The Company made a pre-tax loss of GBP 93,873 which included net unrealised losses on investments of GBP 266,960.

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.

The directors of the issuer accept responsibility for the contents of this announcement.

For further information please contact:

Guy Miller 020 7220 9795 (Gledhow Investments plc)

Profit and Loss Account

for the six-months ended 31 March 2023

Continuing operations                                                                Six months to Six months to 
                                                                                     31 March 2023 31 March 2022 
                                                                                     GBP             GBP 
Turnover 
Proceeds from sale of investments                                                    597,990       512,207 
Cost of sales (including unrealised gains and losses on investments held for resale) (667,050)     (775,517) 
 
Gross loss                                                                           (69,060)      (263,310) 
 
Administrative expenses                                                              (24,813)      (29,515) 
 
Loss on ordinary activities before tax                                               (93,873)      (292,825) 
Taxation                                                                             -             55,637 
 
Loss for the period                                                                  (93,873)      (237,188) 
 
Loss per share - Basic (pence)                                                       (0.11)p       (0.25)p 

Balance Sheet as at 31 March 2023

                                               31 March 2023 31 March 2022 
                                               GBP             GBP 
Current assets 
Investments held for resale                    1,104,770     2,209,760 
Debtors                                        162,509       54,080 
Cash at bank and in hand                       339,447       215,980 
 
Total current assets                           1,606,726     2,479,820 
 
Creditors: amounts falling due within one year 
                                               (2,446)       (114,507) 
 
 
Net current assets less current liabilities    1,604,280     2,365,313 
 
Capital and reserves 
Called up share capital                        975,714       975,714 
Share premium account                          384,408       384,408 
Profit and loss account                        194,190       955,223 
Other reserve                                  49,968        49,968 
 
Shareholders' funds - equity interests         1,604,280     2,365,313 
 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.

3. The financial results detailed above have not been audited or reviewed in accordance with the International Standard on Review Engagements 2410 issued by the Auditing Practices Board.

The principal accounting policies used in preparing these interim accounts are those expected to apply in the Company's Financial Statements for the year ending 30 September 2023 and are unchanged from those disclosed in the Company's Annual Report for the year ended 30 September 2022.

4. Called up share capital includes 9,949,084 Ordinary Shares of 1p each held as treasury shares by the Company.

5. Earnings per share - Basic

The earnings per share for the six months ended 31 March 2023 is calculated on the loss on ordinary activities after tax of GBP93,873 (2022: loss of GBP237,188) divided by the weighted average number of 87,622,344 (2022: 95,658,143) ordinary shares of 1p each in issue (which excludes the treasury shares held by the Company) during the period.

6. 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 2022 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.

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----------------------------------------------------------------------------------------------------------------------- Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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ISIN:           GB0008842717 
Category Code:  MSCM 
TIDM:           GDH 
Sequence No.:   248684 
EQS News ID:    1649871 
 
End of Announcement  EQS News Service 
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June 06, 2023 02:00 ET (06:00 GMT)