Walls & Futures REIT PLC Half-year Report (6730K)

TIDMWAFR

RNS Number : 6730K

Walls & Futures REIT PLC

17 December 2018

17 December 2018

WALLS & FUTURES REIT PLC

("Wall & Futures" or the "Company")

Half Year Results for the period to 30 September 2018

Walls & Futures REIT plc ("WAFR") the Ethical Housing REIT providing homes for vulnerable people through Local Authorities, Housing Association & Charities, is pleased to announce its interim results for the six months to 30th September 2018.

Financial Highlights

-- Net Asset value ("NAV") increased to GBP3,257,107 from GBP3,246,226 since the year end.

-- NAV per share unchanged at 92p per share since the year end.

Joe McTaggart commented:

"Although there is increased economic and political uncertainty, the need for Supported Housing and Extra Care places continues to increase throughout the country.

We have identified a number of opportunities and are working with our partners, Local Authorities, Housing Associations and Charities, to deliver these much need places in the near future."

Consolidated Income Statement

For the Period 31st March 2017 to 30th September 2017

 
                                                                      6 Months to       6 Months to 
                                                                     30 September      30 September 
                                                                             2018              2017 
                                                                              GBP               GBP 
 RENT RECEIVED                                                             67,041            32,726 
 INCREASE IN PROPERTY VALUES                                                    -           203,333 
 Gross Profit                                                              62,215           236,059 
 
 Administrative Expenses                                                (131,638)         (108,675) 
                                                                     ____________      ____________ 
 OPERATING PROFIT/(LOSS)                                                 (69,423)           127,384 
 Interest receivable and similar income                                       224                 - 
                                                                     ____________      ____________ 
 PROFIT/(LOSS) BEFORE TAXATION                                           (69,199)           127,384 
 Taxation                                                                       -                 - 
                                                                     ____________      ____________ 
 PROFIT/(LOSS) FOR THE FINANCIAL PERIOD                                  (69,199)           127,384 
 
 

Consolidated Balance Sheet

30(th) September 2018

 
                                    30 September 2018                     30 September 2017 
                                              GBP                   GBP          GBP                    GBP 
 FIXED ASSETS 
 Investment Property                                           3,025,00                           2,873,109 
 
 CURRENT ASSETS 
 Cash at Bank                             228,710                            237,194 
 Debtors and Prepayments                    5,764                              6,863 
                                          234,474                            244,057 
 CREDITORS 
 Amounts falling due within 
  one year                                (2,367)                           (12,812) 
 NET CURRENT ASSETS                                             232,107                             231,245 
 TOTAL ASSETS LESS CURRENT 
  LIABILITIES                                                 3,257,107                           3,104,354 
 PROVISION FOR LIABILITIES                                            -                                   - 
 
   NET ASSETS                                                 3,257,107                           3,104,353 
 
 CAPITAL AND RESERVES 
 Called up share capital                                        180,611                             164,511 
 Share Premium                                                3,412,297                           3,125,714 
 Retained Earnings                                            (504,134)                           (185,871) 
                                                              3,257,107                           3,104,354 
 
 
 

The above figures have not been reviewed by the Company's auditors.

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

For further information, contact:

Walls & Futures REIT PLC

Joe McTaggart, Chief Executive

0333 700 7171

Website www.wallsandfutures.com

Allenby Capital Limited (Corporate Adviser)

Nick Harriss/James Reeve

020 3328 5656

About Walls & Futures REIT plc

Walls & Futures is an Ethical Housing REIT providing Supported Housing & Extra Care homes through Local Authorities, Housing Association & Charities.

We collaborate with our customers, including charities and housing associations, to design, fund, build and deliver quality homes that are sustainable in terms of their environmental impact, energy efficiency and financially viability.

Our aim is to generate a measurable and beneficial social impact alongside a financial return, which is to deliver a long-term annual net return of 7-9% of which 3-4% will be paid in the form of a dividend.

Walls & Futures REIT plc was named "Impact Company of the Year" at the 2018 NEX Exchange Small Cap Awards.

Walls & Futures is quoted on the NEX Exchange Growth Market (Ticker: WAFR) and is a member of the Social Stock Exchange and Impact Investment Network.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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December 17, 2018 07:00 ET (12:00 GMT)