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Name | Symbol | Market | Type |
---|---|---|---|
A2d Fund. 22 | LSE:A2D1 | London | Bond |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 100.125 | 99.25 | 101.00 | 0 | 01:00:00 |
TIDMA2D1
RNS Number : 7882M
A2D Funding PLC
01 August 2017
A2D FUNDING PLC
AUDITED RESULTS FOR THE YEAR ENDING 31 MARCH 2017
A2D Funding plc (LSE: A2D1) announces its audited results for the year ended 31 March 2017.
The following is an extract from the Company's financial statements which will be posted to shareholders on or around 4 August 2017.
Company summary
A2D Funding plc ("the Company" or "Issuer") is a special purpose company established for the purpose of issuing Bonds (including further bonds issued in accordance with the Conditions) and lending the proceeds thereof to A2Domionion Housing Group Limited ("A2Dominion") or one or more of its subsidiaries.
Business review
On 18 October 2013 the Company issued GBP150,000,000 4.75% Guaranteed Bonds due 18 October 2022. The principal amount raised from issuing the retail bonds was on-lent to A2Dominon.
Principal risks and uncertainties
The principal risks and uncertainty for the Company is primarily credit risk and include the correct and timely receipt of interest and principal on the loan due from A2Dominion. During the current year and prior period, all such amounts were paid on their due dates.
The directors have considered the nature and structure of the Company and are satisfied that there is sufficient capital in relation to the business activities of the Company and levels of planned financial performance.
Events after the balance sheet date
There have been no reportable events since 31 March 2017.
Related party transactions
The Company has taken advantage of the exemption under section 33 of FRS102, not to disclose transactions with other group companies consolidated by A2Dominion Housing Group Limited.
On behalf of the Board
Law Debenture Corporate Services Limited (Company Secretary)
1 August 2017
STATEMENT OF COMPREHENSIVE INCOME
For the year ended 31 March 2017
Year ended Period 19 31 March October 2015 2017 to 31 March 2016 GBP000 GBP000 ------------------------- ------------ --------------- Interest receivable and similar income 7,215 3,253 Interest payable and similar charges (7,213) (3,252) -------------------------- ------------ --------------- Gross profit 2 1 Other operating income 47 30 Administrative expenses (47) (30) -------------------------- ------------ --------------- Profit on ordinary activities before taxation 2 1 Taxation - - ------------------------- ------------ --------------- Profit for the year/ period 2 1 -------------------------- ------------ ---------------
There are no other comprehensive income items other than the result for the year stated above. Accordingly, no statement of other comprehensive income is given.
STATEMENT OF FINANCIAL POSITION
As at 31 March 2017
2017 2016 GBP000 GBP000 -------------------------- ---------- ---------- Financial assets Loans and receivables 149,511 149,423 --------------------------- ---------- ---------- Current assets Debtors: Amounts falling due within one year 3,228 3,244 Cash at bank 34 16 --------------------------- ---------- ---------- 3,262 3,260 Financial liabilities: Amounts falling due within one year (3,244) (3,244) --------------------------- ---------- ---------- Net current assets 18 16 --------------------------- ---------- ---------- Total assets less current liabilities 149,529 149,439 Financial liabilities: Amounts falling due after more than one year (149,511) (149,423) --------------------------- ---------- ---------- Net assets 18 16 --------------------------- ---------- ---------- Capital and reserves Called up share capital 13 13 Profit and loss account 5 3 --------------------------- ---------- ---------- Shareholders' funds 18 16 --------------------------- ---------- ----------
STATEMENT OF CHANGES IN EQUITY
For the year ended 31 March 2017
Retained Share capital income Total GBP000 GBP000 GBP000 Total equity as at 18 October 2015 13 2 15 Profit for the period - 1 1 ------------------------ ---------------- --------- -------- Total equity as at 31 March 2016 13 3 16 Profit for the year - 2 2 ------------------------ ---------------- --------- -------- Total equity as at 31 March 2017 13 5 18 ------------------------ ---------------- --------- --------
CASH FLOW STATEMENT
For the year ended 31 March 2017
Year ended Period 19 31 March October 2015 2017 to 31 March 2016 GBP000 GBP000 Operating activities Profit on ordinary activities before taxation 2 1 Decrease/(increase) in debtors 16 (3,244) Increase in creditors - 3,226 ------------------------------- ----------- -------------- Cash flow from operating activities 18 (17) ------------------------------- ----------- -------------- Cash flow from investing - - activities Cash flow from financing - - activities Net increase/(decrease) in cash and cash equivalents 18 (17) ------------------------------- ----------- -------------- Cash and cash equivalent at beginning of year/period 16 33 ------------------------------- ----------- -------------- Cash and cash equivalent at end of year/period 34 16 ------------------------------- ----------- --------------
Directors' responsibility statement
We confirm that to the best of our knowledge:
(a) the financial statements, prepared in accordance with the applicable set of accounting standards, give a true and fair view of the assets, liabilities, financial position and profit or loss of the Issuer and the undertakings included in the consolidation taken as a whole; and
(b) the management report includes a fair review of the development and performance of the business and the position of the issuer and the undertakings included in the consolidation taken as a whole, together with a description of the principal risks and uncertainties that they face.
On behalf of the board
Mark Filer
Representing L.D.C. Corporate Director No.3
1 August 2017
- ENDS-
For further information contact:
Law Debenture Corporate Services Limited (Company Secretary) +44 20 7606 5453
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR EALPFEEEXEFF
(END) Dow Jones Newswires
August 01, 2017 10:03 ET (14:03 GMT)
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