ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

DVT Davictus Plc

4.25
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Davictus Plc LSE:DVT London Ordinary Share JE00BYY5RQ34 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 4.25 3.50 5.00 4.25 4.25 4.25 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Eating Places 411k 229k 0.0172 2.47 567.38k

daVictus plc Half-year Report as of June 2017 (7987P)

05/09/2017 7:41am

UK Regulatory


Davictus (LSE:DVT)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Davictus Charts.

TIDMDVT

RNS Number : 7987P

daVictus plc

05 September 2017

daVictus plc

("daVictus" or the "Company")

Interim results for the 6 months ended 30 June 2017

Director's Statement

I am pleased to report the condensed financial statements of Davictus PLC (the "Company" or "Davictus") for the six months ended 30 June 2017.

For the first half of 2017, the Directors have actively discussed with potential target companies in the food and beverages ("F&B") sector - which operate in or own Western food and beverage F&B eatery franchises in South East Asia and/or the Far East, however, none of which has met the necessary criteria for selection to date.

While we continue our efforts to identify targets for acquisition, the Company has sufficient funds for general corporate purposes and pre-acquisition activities, including on-going costs and expenses such as Directors' fees and salaries, due diligence costs and other costs of sourcing, reviewing and to pursue potential acquisitions.

We are encouraged by both business opportunities and positive start we have made to the current year and we would always remain optimistic in respect of target acquisition.

During the reporting period, the Company reported a net loss of 54,010.

 
 
 

As at 30 June 2017, the Company had cash in bank of GBP569,953.

There are a number of potential risks and uncertainties which may have material impact on the Company's performance over the remaining six months of the financial year and could cause actual results to differ materially from expected and historical results. The directors do not consider any changes on the principal risks and uncertainties since the publication of the annual report for the year ended 31 December 2016, which contained a detailed explanation of the risks relevant to the Company, is also available at http://www.davictus.co.uk.

The Board looks forward to providing further updates to the shareholders in due course.

Responsibility Statement

The Directors are responsible for preparing the Condensed Financial Statements in accordance with the Disclosure and Transparency Rules of the United Kingdom's Financial Conduct Authority ('DTR') and with International Accounting Standard 34 on Interim Financial Reporting (IAS 34).

The directors confirm that, to the best of their knowledge, this condensed consolidated half-yearly report has been prepared in accordance with IAS 34, as adopted by the European Union. The interim management report includes a fair review of the information required by DTR 4.2.7 and DTR 4.2.8, namely:

-- an indication of important events that have occurred during the first six months 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 financial year; and

   --      material related-party transactions in the first six months and any material changes in the related-party transactions described in the last annual report. 

Director

5 September, 2017

CONDENSED STATEMENT OF COMPREHESIVE INCOME (UNAUDITED)

FOR THE SIX MONTHSED 30 JUNE 2017

 
                                     Notes    6 months      6 months 
                                                period        period 
                                                ended         ended 
                                               30 June       30 June 
                                                 2017          2016 
                                                 GBP           GBP 
                                             (Unaudited)   (Unaudited) 
                                            ------------  ------------ 
 INCOME                                           -             - 
                                            ------------  ------------ 
                                                  -             - 
 Interest income                                  -            238 
 Operating expenses                           (54,010)      (193,376) 
                                            ------------  ------------ 
 OPERATING PROFIT/LOSS BEFORE 
  TAXATION                                    (54,010)      (193,138) 
 Income tax expense                    3          -             - 
                                            ------------  ------------ 
 LOSS FOR THE PERIOD ATTRIBUTABLE 
  TO 
  EQUITY HOLDERS OF THE COMPANY               (54,010)      (193,138) 
 
 Basic and diluted loss per                    (0.48)        (3.21) 
  share (pence)                        4          p             p 
                                            ============  ============ 
 
 

CONDENSED STATEMENT OF FINANCIAL POSITION (UNAUDITED)AS AT 30 JUNE 2017

 
                               Notes            As at                As at             As at 
                                                30 June             30 June          31 December 
                                                 2017                 2016              2016 
                                                        GBP               GBP           GBP 
                                                (Unaudited)       (Unaudited)         Audited 
 CURRENT ASSETS 
 Other receivables                                                          -                  - 
  Cash and cash equivalents                         569,953           721,112            632,220 
                                                                                   ------------- 
                                                    569,953           721,112            632,220 
 CURRENT LIABILITIES 
 Other payables                                      14,779            10,470             23,354 
 Amount owing to                                        318                 -            - 
  directors 
                                          -----------------      ------------      ------------- 
 
                                                     15,097            10,470             23,354 
                                          -----------------      ------------      ------------- 
 
   NET ASSETS                                       554,856           710,642            608,866 
                                          =================      ============      ============= 
 
 EQUITY ATTRIBUTABLE 
  TO EQUITY HOLDERS 
  OF THE COMPANY 
 Stated capital                  5                1,053,400         1,125,000          1,053,400 
  Retained earnings                               (498,544)         (414,358)          (444,534) 
                                          -----------------      ------------      ------------- 
 TOTAL EQUITY                                       554,856           710,642            608,866 
                                          =================      ============      ============= 
 
 

CONDENSED STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHSED 30 JUNE 2017

 
                                        6 months         6 months 
                                         period            period 
                                          ended            ended 
                                         30 June          30 June 
                                          2017              2016 
                                          GBP               GBP 
                                          (Unaudited)   (Unaudited) 
 Cash flow from operating 
  activities 
 Operating loss                              (54,010)     (193,138) 
                                  -------------------  ------------ 
 
   Changes in working capital                 (8,257)     (101,500) 
                                  -------------------  ------------ 
 
 Net cash flow from operating 
  activities                                 (62,267)     (294,638) 
                                  -------------------  ------------ 
 
 Cash flow from financing 
  activities 
 Issue of share capital                             -     1,000,000 
                                  -------------------  ------------ 
 Net cash flow from financing 
  activities                                 (62,267)     1,000,000 
                                                       ------------ 
 
 Net increase in cash and 
  cash equivalents                           (62,267)       705,362 
 Cash and cash equivalents 
  at beginning of period                      632,220        15,750 
                                  -------------------  ------------ 
 Cash and cash equivalents 
  at end of period                            569,953       721,112 
                                  ===================  ============ 
 

STATEMENT OF CHANGES IN EQUITY (UNAUDITED)

FOR THE SIX MONTHSED 30 JUNE 2017

Period from 1 January 2017 to 30 June 2017

 
                           Stated       Retained        Total 
                           capital       earnings 
                             GBP           GBP           GBP 
 
 As at 1 January 
  2017                     1,053,400     (444,534)      608,866 
 Loss for the period          -           (54,010)     (54,010) 
                        ------------  ------------   ---------- 
 Total comprehensive 
  loss for the period         -           (54,010)     (54,010) 
                        ------------  ------------   ---------- 
 
 As at 30 June 2017        1,053,400     (498,544)      554,856 
                        ============  ============   ========== 
 
 
 
 
   Period from 1 January 2016 to 30 June 2016 
                           Stated       Retained        Total 
                           capital       earnings 
                             GBP           GBP           GBP 
 
 As at 1 January 
  2016                     125,000      (221,220)     (96,220) 
 Loss for the period          -          (193,138)    (193,138) 
                        ------------  ------------   ---------- 
 Total comprehensive 
  loss for the period         -          (193,138)    (193,138) 
                        ------------  ------------   ---------- 
 Issue of ordinary 
  shares                  1,000,000         -         1,000,000 
 As at 30 June 2016        1,125,000     (414,358)      710,642 
                        ============  ============   ========== 
 
 

For the year ended 31 December 2016

 
                          Stated     Retained      Total 
                          capital     earnings 
                            GBP         GBP         GBP 
 
 As at 1 January 
  2016                     125,000   (221,220)    (96,220) 
 Loss for the period             -   (223,314)   (223,314) 
                        ----------  ----------  ---------- 
 Total comprehensive 
  loss for the period            -   (223,314)   (223,314) 
                        ----------  ----------  ---------- 
 Issue of ordinary 
  shares                 1,000,000           -   1,000,000 
 Share issuance 
  costs                   (71,600)           -    (71,600) 
 As at 31 December 
  2016                   1,053,400   (444,534)     608,866 
                        ==========  ==========  ========== 
 

NOTES TO THE CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED 30 JUNE 2017

   1.   GENERAL INFORMATION 

The Company was incorporated and registered in Jersey as a public company limited by shares on 5 February 2015 under the companies (Jersey) Law 1991 and registered number 117716. The registered office of the Company is at the offices of 43/45 La Motte Street St Helier Jersey JE4 8SD.

   2.   ACCOUNTING POLICIES 

Basis of preparation

The condensed interim financial information for the six month period ended 30 June 2017 has been prepared in accordance with IAS 34 Interim Financial Reporting. It is unaudited and does not constitute statutory financial statements. The comparative interim financial information covers the period ended 30 June 2016.

The condensed interim financial information has been prepared on a basis consistent with, and on the basis of, the accounting policies set out in the audited financial statements of the Company for the year ended 31 December 2016, which have been prepared in accordance with IFRSs as adopted by the European Union.

The condensed interim financial information is presented in British Pound Sterling ("GBP").

Going concern

The condensed interim financial information has been prepared on a going concern basis, which assumes that the Company will continue to be able to meet its liabilities as they fall due for the foreseeable future.

   3.   INCOME TAX EXPENSE 

The Company is not a "Financial Services Company" registered under the relevant Jersey laws; or a specified utility company and therefore it is subject to Jersey income tax at the general rate of 0 per cent. If the Company derives any income from Jersey property, including development of land or quarrying, such income will be subject to tax at the rate of 20 per cent. It is not expected that the Company will derive any such income.

   4.   LOSS PER SHARE 

Basic loss per ordinary share is calculated by dividing the loss attributable to equity holders of the company by the weighted average number of ordinary shares in issue during the period. Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. There are currently no dilutive potential ordinary shares.

 
                                 6 months       6 months 
                                  period       period ended 
                                   ended         30 June 
                                  30 June          2016 
                                   2017 
 
   Loss for the year (GBP) 
                                  (54,010)        (193,138) 
   Weighted average number 
   of shares (Unit)              11,250,000       6,007,576 
 
   Loss per share (Pence)         (0.48)p           (3.21)p 
 
   5.   STATED CAPITAL & RESERVES 
 
                           As at        As at         As at 
                          30 June     31 December    30 June 
                            2017         2016          2016 
 
                            GBP           GBP          GBP 
 Allotted, called up 
  and fully paid 
  (Ordinary shares of 
  GBP0.01 each)          1,053,400    1,053,400     1,125,000 
 

On 29 January 2016, the Company issued 10,000,000 Ordinary shares of GBP0.01 each at a price of 10 pence per share as part of the Initial Public Offering of the Company's shares.

   6.   RELATED PARTY TRANSACTION 

The directors are considered to be the key management personnel. Details concerning Directors remuneration can be found below:

 
                            6 months   6 months 
                             period     period 
                              ended      ended 
                             30 June    30 June 
                              2017       2016 
                              GBP        GBP 
  Robert Pincock 
   Fee                         7,500    7,500 
  Abd Hadi Bin Abd Majid 
   Fee                         5,000     5,000 
  Maurice James Malcolm 
   Groat 
   Fee                         2,000     1,667 
                           ---------  --------- 
                              14,500    14,167 
                           ---------  --------- 
 
   7.    SEASONAL OR CYCLICAL FACTORS 

There are no seasonal factors that materially affect the operations of any company in the Group.

   8.    SUBSEQUENT EVENTS 

There are no subsequent events requiring disclosure in these financial statements.

This information is provided by RNS

The company news service from the London Stock Exchange

END

IR LIFSFAVIEIID

(END) Dow Jones Newswires

September 05, 2017 02:41 ET (06:41 GMT)

1 Year Davictus Chart

1 Year Davictus Chart

1 Month Davictus Chart

1 Month Davictus Chart

Your Recent History

Delayed Upgrade Clock