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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% | 96.775 | 95.50 | 98.05 | 0 | 08:01:35 |
TIDMA2D2
RNS Number : 6868X
A2D Funding II PLC
21 December 2023
A2D FUNDING II PLC
HALF YEARLY REPORT FOR THE SIX MONTHS TO 30 SEPTEMBER 2023 (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 2023.
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
21 December 2023
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 2023 (unaudited)
Six months Six months ended ended 30 Sept 30 Sept 22 23 (unaudited) (unaudited) GBP000 GBP000 ------------------------------- ------------ ------------ Interest receivable and similar income 3,413 3,411 Interest payable and similar charges (3,412) (3,410) -------------------------------- ------------ ------------ Gross profit 1 1 Other operating income 34 37 Administrative expenses (34) (37) -------------------------------- ------------ ------------ 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 2023 (unaudited)
30 September 31 March 2023 2023 (unaudited) (audited) GBP000 GBP000 ------------------------------- --- ---- -------------- ------------ Financial assets Loans and receivables 149,762 149,725 ------------------------------------------ -------------- ------------ Current assets Debtors: Amounts falling due within one year 48 47 Cash at bank 59 63 ------------------------------------------ -------------- 107 110 Financial liabilities : Amounts falling due within one year (79) (83) ------------------------------------------ -------------- ------------ Net current assets 28 27 ------------------------------------------ -------------- ------------ Total assets less current liabilities 149,790 149,752 Financial liabilities : Amounts falling due after more than one year (149,762) (149,725) ------------------------------------------ -------------- ------------ Net assets 28 27 ------------------------------------------ -------------- ------------ Capital and reserves Called up share capital 13 13 Profit and loss account 15 14 ------------------------------------------ -------------- ------------ Shareholders' funds 28 27 ------------------------------------------ -------------- ------------
STATEMENT OF CHANGES IN EQUITY
For the six months ended 30 September 2023 (unaudited)
Statement Share capital of comprehensive Total income GBP000 GBP000 GBP000 Total equity as at 31 March 2023 13 14 27 Total comprehensive income for the period - 1 1 Total equity as at 30 September 2023 13 15 28 ---------------------------------- ---------------- ------------------ --------
A2D FUNDING II PLC
STATEMENT OF CASH FLOWS
For the six months ended 30 September 2023 (unaudited)
Six months Year ended ended 30 Sept 2023 31 Mar 2023 (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) Increase in debtors (1) (14) (Decrease)/increase in creditors (4) 24 -------------------------------- ------------- ------------ Cash flow from operating activities (4) 12 -------------------------------- ------------- ------------ Cash flow from investing - - activities Cash flow from financing - - activities Net (decrease)/increase in cash and cash equivalents (4) 12 Cash and cash equivalent at beginning of period/year 63 51 -------------------------------- ------------- ------------ Cash and cash equivalent at end of period/year 59 63 -------------------------------- ------------- ------------
A2D FUNDING II PLC
NOTES TO HALF YEARLY REPORT
For the six months ended 30 September 2023
(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
21 December 2023
For further information contact:
Law Debenture Corporate Services Limited (Company Secretary) corpservices@lawdeb.com
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(END) Dow Jones Newswires
December 21, 2023 12:28 ET (17:28 GMT)
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