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| Name | Symbol | Market | Type |
|---|---|---|---|
| A2d Fund.26 | LSE:A2D2 | London | Bond |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 96.80 | 95.50 | 98.10 | 0 | 16:00:36 |
From Jul 2019 to Jul 2024
TIDMA2D2
RNS Number : 4535G
A2D Funding II PLC
05 August 2016
A2D FUNDING II PLC
AUDITED RESULTS FOR THE PERIOD ENDING 31 March 2016
A2D Funding II plc (LSE: A2D2) announces its audited results for the period ended 31 March 2016
The following is an extract from the Company's financial statements which will be posted to shareholders on or around 08 August 2016.
Company summary
A2D Funding II plc ("the Company") 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.
The directors elected to shorten the Accounting Reference Date ("ARD") in line with the ARD of the A2Dominion Housing Group Limited, the Company's controlling party
Business review
On 30 September 2014 the Company issued GBP150,000,000 4.50% Guaranteed Bonds due 2026. The principal amount raised from issuing the Retail Bonds was on-lent to A2Dominon.
Principal risks and uncertainties
The principal risks and uncertainties for the Company are primarily credit and interest rate risks. These include the correct and timely receipt of interest and principal on the loan due from A2Dominion and, to that effect during the period under review, all amounts were paid completely and timely when they were due.
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 2016.
Related party transactions
A2Dominion is a related party and significantly all transactions are with them, these have been disclosed in the year end finalised statements.
On behalf of the Board
Law Debenture Corporate Services Limited (Company Secretary)
05 August 2016
INCOME STATEMENT
For the period ended 31 March 2016
Hot Features
Premium
Period Period
1 October 17 July
2015 to 2015 to
31 March 30 September
2016 2015
GBP000 GBP000
------------------------- ----------- --------------
Interest receivable
and similar income 3,427 6,811
Interest payable and
similar charges (3,426) (6,809)
-------------------------- ----------- --------------
Gross profit 1 2
Other operating income 32 44
Administrative expenses (32) (45)
-------------------------- ----------- --------------
Profit on ordinary
activities before
taxation 1 1
Taxation - -
------------------------- ----------- --------------
Profit for the period 1 1
-------------------------- ----------- --------------
There are no recognised gains or losses other than the result for the period stated above. Accordingly, no statement of total recognised gains and losses is given.
BALANCE SHEET
As at 31 March 2016
31 March 30 September
2016 2015
GBP000 GBP000
-------------------------- ---------- -------------
Financial assets
Loans and receivables 149,313 149,281
--------------------------- ---------- -------------
Current assets
Debtors: Amounts falling 41 -
due within one year
Cash at bank 23 30
64 30
Financial liabilities:
Amounts falling due
within one year (49) (16)
--------------------------- ---------- -------------
Net current assets 15 14
--------------------------- ---------- -------------
Total assets less
current liabilities 149,328 149,295
Financial liabilities:
Amounts falling due
after more than one
year (149,313) (149,281)
--------------------------- ---------- -------------
Net assets 15 14
--------------------------- ---------- -------------
Capital and reserves
Called up share capital 13 13
Profit and loss account 2 1
--------------------------- ---------- -------------
Shareholders' funds 15 14
--------------------------- ---------- -------------
STATEMENT OF CHANGES IN EQUITY
For the period ended 31 March 2016
Share capital Profit Total
and loss
account
GBP000 GBP000 GBP000
Total equity as at
30 September 2015 13 1 14
Net profit for the
period - 1 1
Total equity as at
31 March 2016 13 2 15
--------------------- --------------- ---------- -------
CASH FLOW STATEMENT
For the period ended 31 March 2016
Period Period
1 October 17 July
2015 to 2014 to
31 March 30 September
2016 2015
GBP000 GBP000
Operating activities
Profit on ordinary
activities before
taxation 1 1
Increase in debtors (41) -
Increase in creditors 33 16
----------------------------------------- ----------- --------------
Cash flow from operating
activities (7) 17
----------------------------------------- ----------- --------------
Investing activities
Loan granted - (149,296)
----------------------------------------- ----------- --------------
Cash flow from investing
activities - (149,296)
----------------------------------------- ----------- --------------
Financing activities
Proceeds on issued
share capital - 13
Proceeds from retail
bond issuance - 150,000
Commission costs - (704)
----------------------------------------- ----------- --------------
Cash flow from financing
activities - 149,309
----------------------------------------- ----------- --------------
Net (decrease) / increase in
cash and cash equivalents (7) 30
----------------------------------------- ----------- --------------
Cash and cash equivalent at beginning 30 -
of period
----------------------------------------- ----------- --------------
Cash and cash equivalent at end
of period 23 30
----------------------------------------- ----------- --------------
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
Sharon Martin
Representing L.D.C. Corporate Director No. 3
05 August 2016
- 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
ACSUVAVRNNAWRAR
(END) Dow Jones Newswires
August 05, 2016 11:18 ET (15:18 GMT)
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