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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 : 6651E
A2D Funding II PLC
19 October 2018
A2D FUNDING II PLC
HALF YEARLY REPORT FOR THE SIX MONTHS TO 30 SEPTEMBER 2018 (unaudited)
The report including the unaudited results for the period is as follows:
Company summary
A2D Funding II plc ("the Company") is a special purpose company established for the purpose of issuing retail bonds (the "Bonds"), including issuing further bonds in accordance with the Bond issuance conditions, and lending the proceeds thereof to A2Dominion Housing Group Limited ("A2Dominion") or one or more of its subsidiaries.
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 Bonds was on-lent to A2Dominion.
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. During the period under review, all amounts were paid in full.
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 30 September 2018.
Related party transactions
There were no related party transactions that materially affected the financial position or performance of the Company during the period.
On behalf of the Board
Mark Filer
Director
18 October 2018
The financial information presented herein does not amount to full statutory accounts within the meaning of Section 435 of the Companies Act 2006. It has not been audited nor reviewed pursuant to guidance issued by the Auditing Practices Board.
A2D FUNDING II PLC
STATEMENT OF COMPREHENSIVE INCOME
For the six months ended 30 September 2018 (unaudited)
Hot Features
Premium
Six months Six months
ended ended
30 Sept 18 30 Sept 17
(unaudited) (unaudited)
GBP000 GBP000
------------------------------- ------------ ------------
Interest receivable and
similar income 3,414 3,413
Interest payable and similar
charges (3,413) 3,412
-------------------------------- ------------ ------------
Gross profit 1 1
Other operating income 32 25
Administrative expenses (32) (25)
-------------------------------- ------------ ------------
Profit on ordinary activities
before taxation 1 1
Taxation - -
------------------------------- ------------ ------------
Profit for the period 1 1
Other comprehensive income - -
------------------------------- ------------ ------------
Total comprehensive income 1 1
-------------------------------- ------------ ------------
There are no recognised gains or losses for the current financial period other than as stated in the Statement of comprehensive income. Accordingly, no separate statement of total comprehensive income has been prepared.
A2D FUNDING II PLC
BALANCE SHEET
As at 30 September 2018 (unaudited)
30 September 31 March 2018
2018
(unaudited) (audited)
GBP000 GBP000
----------------------------- ---- ---- ------------- --------------
Financial assets
Loans and receivables 149,492 149,453
----------------------------------------- ------------- --------------
Current assets
Debtors: Amounts falling
due within one year 27 31
Cash at bank 29 41
----------------------------------------- ------------- --------------
56 72
Financial liabilities:
Amounts falling due within
one year (37) (54)
----------------------------------------- ------------- --------------
Net current assets 19 18
----------------------------------------- ------------- --------------
Total assets less current
liabilities 149,510 149,471
Financial liabilities:
Amounts falling due after
more than one year (149,492) (149,453)
----------------------------------------- ------------- --------------
Net assets 19 18
----------------------------------------- ------------- --------------
Capital and reserves
Called up share capital 13 13
Profit and loss account 6 5
----------------------------------------- ------------- --------------
Shareholders' funds 19 18
----------------------------------------- ------------- --------------
STATEMENT OF CHANGES IN EQUITY
For the six months ended 30 September 2018 (unaudited)
Statement
Share capital of comprehensive Total
income
GBP000 GBP000 GBP000
Total equity as at 31 March
2018 13 5 18
Total comprehensive income
for the period - 1 1
Total equity as at 30 September
2018 13 6 19
---------------------------------- ---------------- ------------------ --------
A2D FUNDING II PLC
STATEMENT OF CASH FLOWS
For the six months ended 30 September 2018 (unaudited)
Six months Six months
ended ended
30 Sept 18 30 Sept 17
(unaudited) (unaudited)
GBP000 GBP000
Operating activities
Profit on ordinary activities
before taxation 1 1
Interest received 3,375 3,375
Interest paid (3,375) (3,375)
Amortisation of deferred
income (39) (38)
Amortisation of issue
costs 39 38
Decrease in debtors 4 32
(Decrease) in creditors (17) (40)
-------------------------------- ------------ ------------
Cash flow from operating
activities (12) 7
-------------------------------- ------------ ------------
Cash flow from investing - -
activities
Cash flow from financing - -
activities
Net decrease in cash and
cash equivalents (12) (7)
Cash and cash equivalent
at beginning of period 41 39
-------------------------------- ------------ ------------
Cash and cash equivalent
at end of period 29 32
-------------------------------- ------------ ------------
A2D FUNDING II PLC
NOTES TO HALF YEARLY REPORT
For the six months ended 30 September 2018
(Unaudited)
1. Summary of significant accounting policies
Basis of preparation
The financial statements have been prepared in accordance with applicable United Kingdom law and accounting standards.
Going concern
The directors consider that the Company has adequate resources, an appropriate financial structure and suitable arrangements in place for it to continue in operational existence for the foreseeable future and therefore believe it appropriate for the financial statements to be prepared on the going concern basis.
Income recognition
The Company's principal source of income is interest receivable. The directors consider it would be misleading to classify this source as turnover. All income derives from the Company's principal activity, wholly within the UK.
Interest receivable and payable is accounted for on an accruals basis.
Directors' responsibility statement
We confirm that to the best of our knowledge:
-- the condensed set of financial statements, which has been prepared in accordance with FRS104 "Interim Financial Reporting", gives a true and fair view of the assets, liabilities, financial position and profit of the Company.
-- the half yearly report includes a fair review of the information required by:
(a) DTR 4.2.7R of the Disclosure and Transparency Rules, being an indication of important events that have occurred during the first six months of the financial year and their impact on the condensed set of financial statements; and a description of the principal risks and uncertainties for the remaining six months of the year; and
(b) DTR 4.2.8R of the Disclosure and Transparency Rules, being related party transactions that have taken place in the first six months of the current financial year and that have materially affected the financial position or performance of the entity during that period.
On behalf of the board
Mark Filer
Director
18 October 2018
For further information contact:
Law Debenture Corporate Services Limited (Company Secretary) +44 20 7606 5453
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 rns@lseg.com or visit www.rns.com.
END
IR LLFIEIILALIT
(END) Dow Jones Newswires
October 19, 2018 11:03 ET (15:03 GMT)
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