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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 : 9405Z
A2D Funding II PLC
15 January 2020
A2D FUNDING II PLC
HALF YEARLY REPORT FOR THE SIX MONTHS TO 30 SEPTEMBER 2019 (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 2019.
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
Virginia Duncan representing
Law Debenture Corporate Services Limited (Company Secretary)
10 January 2020
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 2019 (unaudited)
Hot Features
Premium
Six months Six months
ended ended
30 Sept 19 30 Sept 18
(unaudited) (unaudited)
GBP000 GBP000
------------------------------- ------------ ------------
Interest receivable and
similar income 3,345 3,414
Interest payable and similar
charges (3,344) (3,413)
-------------------------------- ------------ ------------
Gross profit 1 1
Other operating income 24 32
Administrative expenses (24) (32)
-------------------------------- ------------ ------------
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 2019 (unaudited)
30 September 31 March 2019
2019
(unaudited) (audited)
GBP000 GBP000
----------------------------- --- --- ------------- --------------
Financial assets
Loans and receivables 149,491 149,523
--------------------------------------- ------------- --------------
Current assets
Debtors: Amounts falling
due within one year 22 34
Cash at bank 55 42
--------------------------------------- ------------- --------------
77 76
Financial liabilities:
Amounts falling due within
one year (56) (56)
--------------------------------------- ------------- --------------
Net current assets 21 20
--------------------------------------- ------------- --------------
Total assets less current
liabilities 149,512 149,543
Financial liabilities:
Amounts falling due after
more than one year (149,491) (149,523)
--------------------------------------- ------------- --------------
Net assets 21 20
--------------------------------------- ------------- --------------
Capital and reserves
Called up share capital 13 13
Profit and loss account 8 7
--------------------------------------- ------------- --------------
Shareholders' funds 21 20
--------------------------------------- ------------- --------------
STATEMENT OF CHANGES IN EQUITY
For the six months ended 30 September 2019 (unaudited)
Statement
Share capital of comprehensive Total
income
GBP000 GBP000 GBP000
Total equity as at 31 March
2019 13 7 20
Total comprehensive income
for the period - 1 1
Total equity as at 30 September
2019 13 8 21
---------------------------------- ---------------- ------------------ --------
A2D FUNDING II PLC
STATEMENT OF CASH FLOWS
For the six months ended 30 September 2019 (unaudited)
Six months Year
ended ended
30 Sept 19 31 Mar 19
(unaudited) (audited)
GBP000 GBP000
Operating activities
Profit on ordinary activities
before taxation 1 2
Interest received 3,375 6,750
Interest paid (3,375) (6,750)
Decrease/(increase) in
debtors 12 (3)
Increase in creditors - 2
-------------------------------- ------------ ----------
Cash flow from operating
activities 13 1
-------------------------------- ------------ ----------
Cash flow from investing - -
activities
Cash flow from financing - -
activities
Net increase in cash and
cash equivalents 13 1
Cash and cash equivalent
at beginning of period/year 42 41
-------------------------------- ------------ ----------
Cash and cash equivalent
at end of period/year 55 42
-------------------------------- ------------ ----------
A2D FUNDING II PLC
NOTES TO HALF YEARLY REPORT
For the six months ended 30 September 2019
(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
10 January 2020
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 FLFFRLSIELII
(END) Dow Jones Newswires
January 15, 2020 11:26 ET (16:26 GMT)
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