Share Name Share Symbol Market Type Share ISIN Share Description
Bould Opportunities Plc LSE:BOU London Ordinary Share GB00B1TK2453 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.023 0.00 0.00 0.00 0.00 0.00 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonequity Investment Instruments 0.1 -1.7 -0.3 - 3

Bould Opportunities PLC Half-year Report

27/09/2019 7:00am

UK Regulatory (RNS & others)


Bould Opportunities (LSE:BOU)
Historical Stock Chart

6 Months : From Aug 2019 to Feb 2020

Click Here for more Bould Opportunities Charts.

TIDMBOU

RNS Number : 8598N

Bould Opportunities PLC

27 September 2019

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

27 September 2019

Bould Opportunities Plc

Half year results

Bould Opportunities Plc (AIM: "BOU", "Bould", the "Company" or "the Group"), currently an AIM Rule 15 Cash Shell considering new investment opportunities, announces its half year results for the six months ending 30 June 2019.

Operational and strategic overview

As explained in detail in the Group's recent audited annual report for the year ended 31 December 2018, there were some fundamental changes to the Group in 2018 and in the first half of 2019. During this time, all of the Group's trading activities were either sold or closed down.

Fresh capital has been raised in the period and the Group is now moving forward with confidence, unencumbered from any ongoing liability for its past loss making, and cash consuming, activities.

Financial overview

At the start of 2018, in the previous financial year, the Group had three trading segments alongside coordinating activities of the AIM quoted holding company. By the end of 2018, two of the three trading segments had been disposed of and the third segment had substantially reduced its activities.

On 5 April 2019, a General Meeting confirmed the closure of the Group's remaining trading segment, and so the Group became an AIM Rule 15 Cash Shell that is seeking new investment opportunities in a number of business areas including the health sector, as per previous announcements.

Full provision for the estimated total wind down and closure costs were included in the Group's consolidated financial statements for the year to 31 December 2018.

Under IFRS accounting, the results of the Group are separated between continuing and discontinued operations, and prior year consolidated figures have been restated where appropriate.

Consequently, in the Income Statement, the only Continuing Operations for the six months to 30 June 2019 are the corporate expenses of the Group's holding company, as quantified below. Also for this period, under Discontinued

Operations, there were two positive adjustments - with respect to the brought forward year end accruals for all of the closure costs, and a small surplus on the sale of the remaining trading business which has resulted in a profit on discontinued activities of GBP39,000.

In the reporting period, six months ending 30 June 2019, the company issued shares raising approximately gross proceeds of GBP1.33m from five placings of new ordinary shares, primarily to provide the Group with adequate working capital for any potential investments or transactions the Group may undertake as a Cash Shell.

The financial results for the six months to 30 June 2019 are summarised as follows:

   --      Continuing Operations: 

o Revenues for H1 2019 GBPnil (H1 2018: GBPnil)

o Corporate expenses H1 2019 GBP189,000 (H1 2018: GBP209,000)

o Taxation H1 2019 GBPnil (H1 2018: GBPnil)

o Loss from Continuing Operations H1 2019 GBP189,000 (H1 2018: GBP209,000)

   --      Discontinued Operations: 

o Profit/(Loss) from Discontinued Operations H1 2019 GBP39,000 (H1 2018: Loss (GBP223,000))

   --      Total comprehensive loss H1 2019 (GBP150,000) (H1 2018: Loss ( GBP432,000)) 
   --      Cash balances H1 2019 GBP843,000 (H1 2018: GBP47,000) 
   --      Borrowings H1 2019 GBPNil (H1 2018: GBP355,000) 

Allan Syms, Chairman, said:

"The Group is in a good position to achieve its long term investment plans. Discussions are progressing towards reaching a decision soon on the investment and we will keep shareholders updated."

For further information:

 
 Bould Opportunities Plc (www.bouldopportunities.com) 
  Martin Lampshire, Non-Executive Director               +44 (0)20 3198 2554 
 
 Allenby Capital Limited, Nominated Adviser 
  John Depasquale/ Nick Naylor / Alex Brearley           +44 (0)20 3328 5656 
 
 
 Peterhouse Capital Limited 
  Lucy Williams/Duncan Vasey                             +44 (0)20 7469 0930 
 

Consolidated Statement of Comprehensive Income

For the six months ended 30 June 2019

 
                                                           6 Months                 6 Months                      Year 
                                                              Ended                    Ended                     Ended 
                                                            30 June                  30 June               31 December 
                                                               2019                     2018                      2018 
                                                          Unaudited               Unaudited*                  Audited* 
                                       Notes                GBP'000                  GBP'000                   GBP'000 
 
 Continuing Operations 
 Revenue                                                          -                        -                         - 
 Cost of Sales                                                    -                        -                         - 
 Gross Profit                                                     -                        -                         - 
 
 Administrative Expenses                                      (189)                    (209)                     (323) 
 Other Income                                                     -                        -                         - 
                                              ---------------------  -----------------------  ------------------------ 
 
   Operating (Loss)                                           (189)                    (209)                     (323) 
 Financial Expense                                                -                        -                         - 
                                              ---------------------  -----------------------  ------------------------ 
 (Loss) Before Income Tax                                     (189)                    (209)                     (323) 
 Taxation                                3                        -                        -                         - 
                                              ---------------------  -----------------------  ------------------------ 
 (Loss) from continuing operations                            (189)                    (209)                     (323) 
 Profit / (Loss) from discontinued 
  operations                                                     39                    (223)                   (1,734) 
                                              ---------------------  -----------------------  ------------------------ 
 (Loss) and total comprehensive 
  income 
  for the period 
  attributable to the equity 
  shareholders 
  of the parent                                               (150)                    (432)                   (2,057) 
 
 Earnings per ordinary share (pence) 
 from continuing and discontinued 
 operations 
 attributable to the equity 
 shareholders: 
 
   Continuing operations basic and 
   diluted 
   - pence                                4                (0.003)p                   (0.1)p                    (0.2)p 
 Discontinued operations basic and 
  diluted - pence                        4                   0.001p                        -                    (0.1)p 
                                              ---------------------  -----------------------  ------------------------ 
 Total earnings per share 
  attributable 
  to 
  the equity shareholders of the 
  parent 
  - pence                                                  (0.002)p                   (0.1)p                    (0.3)p 
                                              ---------------------  -----------------------  ------------------------ 
 

*Prior period figures restated to be comparative to current period continuing and discontinued operations.

Consolidated Statement of Financial Position

as at 30 June 2019

 
                                       30 June     30 June                  31 December 
                                          2019        2018                         2018 
                                     Unaudited   Unaudited                      Audited 
                                       GBP'000     GBP'000                      GBP'000 
 Non-Current Assets 
 Property, Plant & Equipment                 -          52                            - 
 Intangible Assets                           -       1,006                            - 
 Total Non-Current Assets                    -       1,058                            - 
                                    ----------  ----------  --------------------------- 
 
 Current Assets 
 Inventories                                 -         545                            - 
 Trade & Other Receivables                  43         559                           92 
 Current Tax Assets                          -         140                            - 
 Cash & Cash Equivalents                   843          47                            4 
                                    ----------  ----------  --------------------------- 
 Total Current Assets                      886       1,291                           96 
                                    ----------  ----------  --------------------------- 
 Total Assets                              886       2,349                           96 
                                    ----------  ----------  --------------------------- 
 
 Equity 
 Ordinary Share Capital                  3,470       2,304                          2,355 
 Share premium                           8,852       8,665                          8,806 
 Share capital reduction reserve        10,081      10,081                         10,081 
 Share option reserve                        -         699                              - 
 Reverse acquisition reserve                 -     (8,843)                              - 
 Profit and Loss                      (21,582)    (11,748)                       (21,477) 
 
 
 Equity                                    821       1,158                          (235) 
                                    ----------  ----------  ----------------------------- 
 
 Liabilities 
 Current Liabilities 
 Trade & Other Payables                     65         828                          331 
 Borrowings                                  -         355                            - 
 Provisions                                  -           8                            - 
 Total Current Liabilities                  65       1,191                          331 
                                    ----------  ----------  --------------------------- 
 
 Non-Current Liabilities 
 Deferred Tax Liabilities                    -           -                            - 
 Total Liabilities                          65       1,191                          331 
                                    ----------  ----------  --------------------------- 
 
 Total Equity and Liabilities              886       2,349                           96 
                                    ----------  ----------  --------------------------- 
 
 
 

Consolidated Statement of Cash Flows

For the six months ended 30 June 2019

 
                                                    6 Months     6 Months                                       Year 
                                                       Ended        Ended                                      Ended 
                                                     30 June      30 June                                31 December 
                                                        2019         2018                                       2018 
                                                   Unaudited   Unaudited*                                   Audited* 
                                                     GBP'000      GBP'000                                    GBP'000 
 Cash Flows from Operating 
 Activities 
 Operating profit/(loss) before 
  tax from: 
  Continuing operations                                (189)        (209)                                      (323) 
 Discontinued operations                                  39        (283)                                    (1,852) 
 Impairments                                               -            -                                        403 
 Depreciation                                              -           18                                         29 
 Amortisation                                              -          140                                        595 
 Share Option Charge                                       -           19                                          - 
 Movement in Provisions                                 (22)          (2)                                       (10) 
 Grant Income                                              -         (27)                                          - 
 Profit on sale of subsidiary 
 undertaking                                               -        (327)                                          - 
 Change in operating assets 
 and liabilities 
 including 
 discontinued operations: 
 Change in Inventories                                     -          216                                        761 
 Change in Trade & Other 
  Receivables                                             49          349                                        856 
 Change in Trade & Other 
  Payables                                             (244)        (323)                                    (1,155) 
                                 ---------------------------  -----------  ----------------------------------------- 
 Cash (Used in) Operations                             (367)        (429)                                      (696) 
 Tax Received                                              -            -                                        183 
                                 ---------------------------  -----------  ----------------------------------------- 
 Net Cash (Used in) Operating 
  Activities                                           (367)        (429)                                      (513) 
                                 ---------------------------  -----------  ----------------------------------------- 
 
 Cash Flows from Investing 
 Activities 
 Proceeds from disposals                                   -           71                                        401 
 Purchase of Property, Plant 
 and Equipment                                             -          (3)                                          - 
 Purchase of Intangible Assets                             -         (47)                                      (176) 
                                 ---------------------------  -----------  ----------------------------------------- 
 Net Cash Generated in 
  Investing Activities                                     -           21                                        225 
                                 ---------------------------  -----------  ----------------------------------------- 
 
 Cash Flows from Financing 
 Activities 
 Proceeds from the issue of 
  ordinary shares                                      1,206          891                                      1,081 
 Increase/(Decrease) in 
  borrowings                                               -        (478)                                      (833) 
                                 ---------------------------  -----------  ----------------------------------------- 
 Net Cash Generated from 
  Financing Activities                                 1,206          413                                        248 
                                 ---------------------------  -----------  ----------------------------------------- 
 
 Net Increase/ (Decrease) in 
  Cash and 
  Cash Equivalents                                       839            5                                       (40) 
 Cash and Cash Equivalents at 
  the Start 
  of the Period                                            4           44                                         44 
                                 ---------------------------  -----------  ----------------------------------------- 
 Cash and Cash Equivalents at 
  the End 
  of the Period                                          843           49                                          4 
                                 ---------------------------  -----------  ----------------------------------------- 
 
 

*Prior period figures restated to be comparative to current period continuing and discontinued operations.

Consolidated Statement of Changes in Equity

For the six months ended 30 June 2019 (unaudited)

 
 
 
 
                                              Share 
                  Ordinary                  Capital      Share               Reverse 
                     Share      Share     Reduction     Option           Acquisition   Retained 
                   Capital    Premium       Reserve    Reserve               Reserve     Losses       Total 
                   GBP'000    GBP'000       GBP'000    GBP'000               GBP'000    GBP'000   GBP'000 
 At 1 January 
  2019               2,355      8,806        10,081          -                     -   (21,477)     (235) 
 Issue of New 
  Shares             1,115         91             -          -                     -          -     1,206 
 Issue of 
  warrants               -       (45)             -          -                     -         45         - 
 Comprehensive 
  Loss for 
  the Period             -          -             -          -                     -      (150)     (150) 
 
 At 30 June 2019     3,470      8,852        10,081          -                     -   (21,582)       821 
                  --------  ---------  ------------  ---------  --------------------  ---------  -------- 
 
 
 

For the six months ended 30 June 2018 (unaudited)

 
 
                                           Share 
                  Ordinary               Capital     Share             Reverse 
                     Share     Share   Reduction    Option         Acquisition   Retained 
                   Capital   Premium     Reserve   Reserve             Reserve     Losses       Total 
                   GBP'000   GBP'000     GBP'000   GBP'000   GBP'000              GBP'000     GBP'000 
 At 1 January 
  2018               2,252     7,828      10,081       680             (8,843)       (11,273)     725 
 Issue of New 
  Shares                52       837           -         -                   -              -     889 
 Share Option 
  Charge                 -         -           -        19                   -              -      19 
 Comprehensive 
  Loss for 
  the Period             -         -           -         -                   -          (432)   (432) 
 At 30 June 
  2018               2,304     8,665      10,081       699             (8,843)       (11,748)   1,158 
                 ---------  --------  ----------  --------  ------------------  -------------  ------ 
 
 

For the year ended 31 December 2018 (audited)

 
                                                          Share 
                            Ordinary                    Capital      Share        Reverse 
                               Share      Share       Reduction     Option    Acquisition   Retained 
                             Capital    Premium         Reserve    Reserve        Reserve     Losses     Total 
                             GBP'000    GBP'000         GBP'000    GBP'000        GBP'000    GBP'000   GBP'000 
       Balance at 1 
        January 
        2018                   2,252      7,828          10,081        680        (8,843)   (11,257)         741 
       Issue of new 
        shares                   103        978               -          -              -          -       1,081 
       Reverse 
        acquisition 
        transfer                   -          -               -          -          8,843    (8,843)           - 
       Share Option 
        transfer                   -          -               -      (680)              -        680           - 
       Comprehensive Loss 
        for the Period             -          -               -          -              -    (2,057)     (2,057) 
       At 31 December 
        2018                   2,355      8,806          10,081          -              -   (21,477)       (235) 
                           ---------  ---------  --------------  ---------  -------------  ---------  ---------- 
 
 

Notes to the financial statements

For the six months ended 30 June 2019 (unaudited)

1. Basis of preparation

These interim financial statements have been prepared in accordance with IAS 34 - Interim Financial Reporting using the recognition and measurement principles of International Accounting Standards, International Financial Reporting Standards and Interpretations adopted for use in the European Union (collectively "Adopted IFRS").

The principal accounting policies used in preparing these interim financial statements are those expected to apply to the Group's Consolidated Financial Statements for the year ending 31 December 2019 and are unchanged from those disclosed in the Group's Annual Report for the year ended 31 December 2018.

The financial information for the six months ended 30 June 2019 and 30 June 2018 is unaudited and does not constitute statutory financial statements for those periods.

The comparative financial information for the year ended 31 December 2018 is not statutory accounts within the meaning of s434 of the Companies Act 2006 but has been derived from the audited statutory financial statements for that year. The statutory accounts for the year ended 31 December 2018 have been reported on by the Company's auditor, delivered to the Registrar of Companies and have been sent to the shareholders.

The auditor's opinion on the Group's financial statements for the year ended 31 December 2018 was unqualified.

2. Continuing and discontinued operations

2a Summary

 
 During 2018 and 2019 the following group's operations were 
 discontinued: 
 
 (i) On 30 January 2018 the group announced the sale of its contract 
  manufacturing subsidiary, Camtronics Vale Limited. The total sales 
  consideration was GBP901,000. 
 
 (ii) On 24 October 2018 the group's bankers appointed an administrator 
  to the LED lighting and fixtures subsidiary, Photonstar LED Limited. 
  On 18 November 2018 a liquidator was appointed to this subsidiary. 
  No distribution is expected from the liquidator. 
 (iii) At the time of its liquidation, Photonstar LED Limited 
  was the parent company for its dormant subsidiary Architectural 
  & Lighting Controls Limited. No distribution is expected from 
  the liquidator in respect of this subsidiary. 
 
  (iv) On 30 January 2019 the Directors announced their intention 
  to close the Halcyon and light engines business of its subsidiary, 
  Photonstar Technology Limited. A sale of this subsidiary was 
  completed on 19 June 2019. The closure costs were provided in 
  the consolidated financial statements at 31 December 2018. The 
  sales consideration was GBP1. 
 
 At 30 June 2019 all the group's trading activities had been discontinued, 
  and the only continuing operation was that of the holding company. 
 
  As all the trading operations have been discontinued, there is 
  now no relevant segmental information to provide in these notes. 
 
  The Group continues as a Cash Shell until appropriate new investments 
  are found. This plan was confirmed by resolution at the General 
  Meeting of the Company on 5 April 2019. 
 
 In this note, financial information is provided for the ongoing 
  operation at 30 June 2019 and separate financial information is 
  shown for each discontinued operation. 
 
 

2b Continuing operations

As all the trading activities have been discontinued, there is no ongoing segmental information. The following results for

continuing operations are for the administrative costs of the Group's parent company.

 
                          6 Months      6 Month       Year 
                             Ended        Ended      Ended 
                              June         June        Dec 
                              2019         2018       2018 
                         Unaudited    Unaudited    Audited 
                            GBP000       GBP000     GBP000 
--------------------   -----------  -----------  --------- 
 Corporate expenses          (179)        (209)      (323) 
---------------------  -----------  -----------  --------- 
 Loss before tax             (179)        (209)      (323) 
---------------------  -----------  -----------  --------- 
 

2c Discontinued operations

The Group's net total loss on discontinued items may be analysed:

 
                                                          6 Months      6 Month       Year 
                                                             Ended        Ended      Ended 
                                                              June         June        Dec 
                                                              2019         2018       2018 
                                                         Unaudited    Unaudited    Audited 
                                                            GBP000       GBP000     GBP000 
----------------------------------------------------   -----------  -----------  --------- 
 Camtronics Vale Limited - Note 2d                               -          311        110 
 Photonstar LED Limited - Note 2e                                -        (188)      (446) 
 Architectural & Lighting Controls Limited 
  - Note 2f                                                      -            -      (106) 
 Photonstar Technology Limited - Note 2g                        39        (346)    (1,292) 
-----------------------------------------------------  -----------  -----------  --------- 
 Total consolidated profit/(loss) from discontinued 
  operations                                                    39        (223)    (1,734) 
-----------------------------------------------------  -----------  -----------  --------- 
 
   2d   Details of the sale of Camtronics Vale Limited 

The financial performance and cash flow information presented are for the trading ended 31 January 2018.

 
                                                      6 Months      6 Month       Year 
                                                         Ended        Ended      Ended 
                                                          June         June        Dec 
                                                          2019         2018       2018 
                                                     Unaudited    Unaudited    Audited 
                                                        GBP000       GBP000     GBP000 
-----------------------------------------------   ------------  -----------  --------- 
 Revenue                                                     -          127        133 
 Expenses                                                    -        (143)      (148) 
------------------------------------------------   -----------  -----------  --------- 
 Loss before income tax                                      -         (16)       (15) 
 Income tax expense                                                       -          - 
-----------------------------------------------   ------------  -----------  --------- 
 Loss after tax for discontinued operation                   -         (16)       (15) 
 Gain on sale of the subsidiary after tax 
  - see below                                                -          327        125 
------------------------------------------------   -----------  -----------  --------- 
 Comprehensive income/(loss) from discontinued 
  operation                                                  -          311        110 
------------------------------------------------   -----------  -----------  --------- 
 

Net cash outflow from operating activities:

 
                                               6 Months     6 Months      Year 
                                                 Ended        Ended       Ended 
                                                 June         June         Dec 
                                                 2019         2018        2018 
                                               Unaudited    Unaudited    Audited 
                                                GBP000       GBP000      GBP000 
-------------------------------------------  -----------  -----------  --------- 
 
 Net cash outflow from investing activities       -            -           - 
 Net cash outflow from financing activities       -            -           - 
 Net cash (decrease) from subsidiary              -            -           - 
-------------------------------------------  -----------  -----------  --------- 
 

Details of sale of subsidiary:

 
                                          6 Months     6 Months       Year 
                                             Ended        Ended      Ended 
                                              June         June        Dec 
                                              2019         2018       2018 
                                         Unaudited    Unaudited    Audited 
                                            GBP000       GBP000     GBP000 
------------------------------------  ------------  -----------  --------- 
 Consideration receivable: 
 Cash paid and payable                           -          150        150 
 Debts novated                                   -          751        751 
------------------------------------  ------------  -----------  --------- 
 Total disposal consideration                    -          901        901 
 Carrying amount of net assets sold              -        (574)      (776) 
------------------------------------  ------------  -----------  --------- 
 Gain on sale before tax                         -          327        125 
 Income tax expense on gain                      -            -          - 
------------------------------------  ------------  -----------  --------- 
 Gain on sale after tax                          -          327        125 
------------------------------------  ------------  -----------  --------- 
 

The carrying amounts of assets and liabilities as at the date of sale were:

 
                                       30 January 
                                             2018 
                                           GBP000 
-----------------------------------  ------------ 
 
 Goodwill                                      13 
 Property, plant & equipment                  267 
 Inventories                                  186 
 Trade receivables and prepayments           1111 
 Cash                                           2 
 Total assets                                1579 
-----------------------------------  ------------ 
 
 Trade creditors and accruals                 331 
 Bank borrowings and hire purchase            457 
 Deferred tax                                  15 
 Total liabilities                            803 
-----------------------------------  ------------ 
 
 Net assets at the date of sale               776 
-----------------------------------  ------------ 
 

2e Details as a result of the liquidation of Photonstar LED Ltd

The financial performance and cash flow information presented are for the trading ended 18 November 2018.

 
                                                     6 Months     6 Months       Year 
                                                        Ended        Ended      Ended 
                                                         June         June        Dec 
                                                         2019         2018       2018 
                                                    Unaudited    Unaudited    Audited 
                                                       GBP000       GBP000     GBP000 
-----------------------------------------------  ------------  -----------  --------- 
 Revenue                                                    -        1,154      1,682 
 Expenses                                                   -      (1,342)    (2,000) 
-----------------------------------------------  ------------  -----------  --------- 
 Loss before income tax                                     -        (188)      (318) 
 Income tax                                                 -            -          - 
-----------------------------------------------  ------------  -----------  --------- 
 Loss after tax for discontinued operation                  -        (188)      (318) 
 Loss on liquidation of the subsidiary after 
  tax - see below                                           -            -      (128) 
-----------------------------------------------  ------------  -----------  --------- 
 Comprehensive income/(loss) from discontinued 
  operation                                                 -        (188)      (446) 
-----------------------------------------------  ------------  -----------  --------- 
 

Net cash inflows and outflows from operating activities:

 
                                                            6 Months     6 Months       Year 
                                                               Ended        Ended      Ended 
                                                                June         June        Dec 
                                                                2019         2018       2018 
                                                           Unaudited    Unaudited    Audited 
                                                              GBP000       GBP000     GBP000 
-----------------------------------------------------  -------------  -----------  --------- 
 Net cash out flow from investing activities                  -           (21)        (22) 
 Net cash out flow/in flow from financing activities               -           23      (124) 
 Net cash (decrease)/increase from subsidiary                      -            2      (146) 
-----------------------------------------------------  -------------  -----------  --------- 
 
 

Details of liquidation of subsidiary:

 
                                                    6 Months      6 Months       Year 
                                                       Ended         Ended      Ended 
                                                        June          June        Dec 
                                                        2019          2018       2018 
                                                   Unaudited     Unaudited    Audited 
                                                      GBP000        GBP000     GBP000 
----------------------------------------------  ------------  ------------  --------- 
 Distribution expected from liquidator                     -             -          - 
 Carrying amount of net assets on appointment 
  of liquidator                                            -             -      (128) 
----------------------------------------------  ------------  ------------  --------- 
 (Loss) on liquidation before tax                          -             -      (128) 
 Income tax                                                -             -          - 
----------------------------------------------  ------------  ------------  --------- 
 (Loss) on liquidation after tax                           -             -      (128) 
----------------------------------------------  ------------  ------------  --------- 
 

The carrying amounts of assets and liabilities as at the date of liquidation were:

 
                                           18 November 
                                                  2018 
                                                GBP000 
---------------------------------------  ------------- 
 Property, plant & equipment                        32 
 Intangible fixed assets                           102 
 Trade receivables and prepayments                 255 
 Inventories                                       345 
 Cash                                                7 
 Total assets                                      741 
---------------------------------------  ------------- 
 Trade creditors and accruals                      413 
 Bank borrowings                                   200 
 Total liabilities                                 613 
---------------------------------------  ------------- 
 Net assets at the date of liquidation             128 
---------------------------------------  ------------- 
 

2f Details as a result of a liquidator appointed to the immediate parent company of Architectural Lighting and Controls Limited

Architectural Lighting & Controls Limited was a dormant subsidiary, and therefore had no income or expense or cash flows for the relevant reporting periods.

Details resulting from the liquidation of the parent company:

 
                                                    6 Months      6 Months       Year 
                                                       Ended         Ended      Ended 
                                                        June          June        Dec 
                                                        2019          2018       2018 
                                                   Unaudited     Unaudited    Audited 
                                                      GBP000        GBP000     GBP000 
----------------------------------------------  ------------  ------------  --------- 
 
 Distribution expected from liquidator                     -             -          - 
 Carrying amount of net assets on appointment 
  of liquidator                                            -             -      (106) 
----------------------------------------------  ------------  ------------  --------- 
 Loss on liquidation before tax                            -             -      (106) 
 Income tax expense on loss                                -             -          - 
----------------------------------------------  ------------  ------------  --------- 
 Loss on liquidation after tax                             -             -      (106) 
----------------------------------------------  ------------  ------------  --------- 
 

The carrying amounts of assets and liabilities as at the date of liquidation were:

 
                                           18 November 
                                                  2018 
                                                GBP000 
---------------------------------------  ------------- 
 
 Goodwill                                          106 
 Total assets                                      106 
---------------------------------------  ------------- 
 
 Total liabilities                                   - 
---------------------------------------  ------------- 
 
 Net assets at the date of liquidation             106 
---------------------------------------  ------------- 
 
   2g   Details of the sale of Photonstar Technology Limited 

The financial performance and cash flow information presented are for about trading ended 19 June 2019.

 
                                                         6 Months     6 Months       Year 
                                                            Ended        Ended      Ended 
                                                             June         June        Dec 
                                                             2019         2018       2018 
                                                        Unaudited    Unaudited    Audited 
                                                           GBP000       GBP000     GBP000 
----------------------------------------------------  -----------  -----------  --------- 
 Revenue                                                        -           49         74 
 Expenses                                                      16        (455)    (1,484) 
----------------------------------------------------  -----------  -----------  --------- 
 Profit/(Loss) before income tax                               16        (406)    (1,410) 
 Income tax credit                                              -           60        118 
----------------------------------------------------  -----------  -----------  --------- 
 Profit/(Loss) after tax for discontinued operation            16        (346)    (1,292) 
 Gain on sale of the subsidiary after tax - see 
  below                                                        23            -          - 
----------------------------------------------------  -----------  -----------  --------- 
 Comprehensive income/(loss) from discontinued 
  operation                                                    39        (346)    (1,292) 
----------------------------------------------------  -----------  -----------  --------- 
 

Net cash outflow from operating activities:

 
                                                  6 Months     6 Months       Year 
                                                     Ended        Ended      Ended 
                                                      June         June        Dec 
                                                      2019         2018       2018 
                                                 Unaudited    Unaudited    Audited 
                                                    GBP000       GBP000     GBP000 
--------------------------------------------  ------------  -----------  --------- 
 
 Net cash outflow from investing activities              -         (29)      (154) 
 Net cash outflow from financing activities              -         (41)       (49) 
 Net cash (decrease) from subsidiary                     -         (70)      (203) 
--------------------------------------------  ------------  -----------  --------- 
 

Details of sale of subsidiary:

 
                                        6 Months     6 Months       Year 
                                           Ended        Ended      Ended 
                                            June         June        Dec 
                                            2019         2018       2018 
                                       Unaudited    Unaudited    Audited 
                                          GBP000       GBP000     GBP000 
-----------------------------------  -----------  -----------  --------- 
 Consideration receivable: 
 Cash paid and payable                         -            -          - 
 Debts novated                                 -            -          - 
-----------------------------------  -----------  -----------  --------- 
 Total disposal consideration                  -            -          - 
 Carrying amount of net assets sold           23            -          - 
-----------------------------------  -----------  -----------  --------- 
 Gain on sale before tax                      23            -          - 
 Income tax expense on gain                    -            -          - 
-----------------------------------  -----------  -----------  --------- 
 Gain on sale after tax                       23            -          - 
-----------------------------------  -----------  -----------  --------- 
 

The carrying amounts of assets and liabilities as at the date of sale were:

 
                                         19 June 2019 
                                               GBP000 
-------------------------------------  -------------- 
 Trade creditors and accruals                      23 
-------------------------------------  -------------- 
 Total liabilities                                 23 
-------------------------------------  -------------- 
 
 Net liabilities at the date of sale               23 
-------------------------------------  -------------- 
 

3. Income Tax

There was no income tax for the six months ended 30 June 2019. For the six months ended 30 June 2018 there was an income tax credit of GBP60,000, and GBP169,000 for the year ended 31 December 2018. These income tax credits represent estimated research and development tax credit receivable for that period. Excluding these matters, the effective tax rate for the Group for the year ended 31 December 2019 is expected to be zero, reflecting the availability of estimated brought forward tax losses at 31 December 2018 of about GBP0.5m.

4. Earnings per share

 
                                    6 months      6 months            Year 
                                       ended         ended           ended 
                                                               31 December 
                                30 June 2019  30 June 2018            2018 
 
Basic loss per share: 
(Loss) from continuing 
 operations                     GBP(179,000)  GBP(209,000)    GBP(323,000) 
Total comprehensive (loss)      GBP(140,000)  GBP(432,000)  GBP(2,057,000) 
 Weighted number of Ordinary 
  Shares - millions                    5,878           501             650 
(Loss) per share - continuing 
 operations - pence                 (0.003p)       (0.04p)         (0.05p) 
Profit/(Loss) per share 
 - discontinued operations 
 - pence                              0.001p       (0.04p)         (0.27p) 
Basic total comprehensive 
 loss per share - pence             (0.002p)       (0.08p)         (0.32p) 
 

Diluted earnings per share is calculated by dividing the profit attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding after adjusting these amounts for the effects of dilutive potential ordinary shares.

As the results for the six months ended 30 June 2019 and 30 June 2018 and for the year ended 31 December 2018 are losses, any exercise of share options would have an anti-dilutive effect on earnings per share. Consequently earnings per share and diluted earnings per share are the same as potentially dilutive share options have been excluded from the calculation.

5. Copies of Interim Report

Copies of this interim report are available upon request to members of the public from the Company's registered office, 80 Cheapside, London, EC2V 6EE. This interim report can also be viewed on the Group's website: www.bouldopportunities.com.

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 EQLFLKKFZBBE

(END) Dow Jones Newswires

September 27, 2019 02:00 ET (06:00 GMT)

1 Year Bould Opportunities Chart

1 Year Bould Opportunities Chart

1 Month Bould Opportunities Chart

1 Month Bould Opportunities Chart
Your Recent History
LSE
BOU
Bould Oppo..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20200224 19:18:38