Buy
Sell
Share Name Share Symbol Market Type Share ISIN Share Description
Inspirit Energy Holdings Plc LSE:INSP London Ordinary Share GB00B44W9L31 ORD 0.001P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.003 -8.45% 0.0325 0.032 0.033 0.033 0.031 0.0325 129,505,394 09:00:05
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 0.0 -0.3 -0.0 - 1

Inspirit Energy Holdings PLC Half-year Report

31/03/2022 7:00am

UK Regulatory (RNS & others)


Inspirit Energy (LSE:INSP)
Historical Stock Chart


From Dec 2021 to Dec 2022

Click Here for more Inspirit Energy Charts.

TIDMINSP

RNS Number : 6665G

Inspirit Energy Holdings PLC

31 March 2022

31 March 2022

Inspirit Energy Holdings PLC

("Inspirit Energy", the "Group" or the "Company")

Interim Results

Inspirit Energy Holdings PLC (AIM: INSP), the developer of micro Combined Heat and Power (microCHP) boilers, is pleased to announce its interim accounts for the six months ended 31 December 2021. The interim financial information document will also be available on the Company's website www.inspirit-energy.com .

Chairman's Statement:

During the reporting period, the Group continued to develop its microCHP boiler, Marine engine and Waste Hear Recovery (WHR) applications and were also in discussions with a British certification company Enertek International Ltd. Enertek International that have won several development contracts from the government (BEIS) and have gained a vast knowledge in developing backward compatible Hydrogen products such as: domestic and commercial cookers, domestic and commercial heating systems etc. They have gained the knowledge which could be very beneficial to Inspirit in developing a Hydrogen product and our existing products to make them hydrogen powered backwards compatible.

In late 2021, whilst slowly emerging from the backdrop of COVID 19 and overcoming the restrictions in supply of materials and specialised labour, the Company spent time working to refining Inspirit's Stirling technology and the specific application to the Volvo marine engine by reviewing the supply chains and detailing the product specifics with commercial partners. Inspirit also set up a workshop facility in Poland.

In February 2022, following the UK's departure from Europe, our team visited Poland to secure supply lines and personnel for the project. Our shipping agent was met with some import/export complexities in relation to shipping our equipment and components to Poland. This has caused a minor delay and we now see having the Volvo Marine application available for demonstration in Q2 of 2022.

The board will also continue to seek other opportunities that it considers will best enhance value for shareholders and will provide further updates in due course.

-ends-

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

More information on Inspirit Energy can be seen at: www.inspirit-energy.com

For further information please contact:

 
 Inspirit Energy Holdings plc 
 John Gunn, Chairman and CEO      +44 (0) 207 048 9400 
 Beaumont Cornish Limited 
  www.beaumontcornish.com 
  (Nominated Advisor) 
 Roland Cornish / James Biddle    +44 (0) 207 628 3396 
 Global Investment Strategy UK 
  Ltd 
  (Broker) 
  Samantha Esqulant                 +44 (0) 207 048 9045 
 

INSPIRIT ENERGY HOLDINGS PLC

Consolidated

Statement of Comprehensive Income

for the six months ended 31 December 2021

 
                                                    Group             Group             Group 
                                               Six months        Six months              Year 
                                                       to                to                to 
                                              31 December       31 December           30 June 
                                                     2021              2020              2021 
                                                Unaudited         Unaudited           Audited 
                                                 GBP'000s          GBP'000s          GBP'000s 
------------------------------------     ----------------  ----------------  ---------------- 
 
Revenue                                                 -                 -                 - 
 
Administrative expenses                             (137)              (63)             (277) 
 
                                         ----------------  ----------------  ---------------- 
Operating loss                                      (137)              (63)             (277) 
 
Finance costs                                           -               (1)                 - 
                                         ----------------  ----------------  ---------------- 
Loss before tax                                     (137)              (64)             (277) 
 
Income tax credit                                      28                24                24 
                                         ----------------  ----------------  ---------------- 
Loss for the period from continuing 
 operations attributable to 
 shareholders                                       (109)              (40)             (253) 
 
 
Loss per share - Pence 
 
Basic and diluted                                (0.003)p           (0.01)p          (0.007)p 
 
 
 

INSPIRIT ENERGY HOLDINGS PLC

Consolidated

Statement of Financial Position as at 31 December 2021

 
                                            Group           Group                   Group 
                                            As at           As at                   As at 
                                      31 December     31 December                 30 June 
                                             2021            2020                    2021 
                                        Unaudited       Unaudited                 Audited 
                                         GBP'000s        GBP'000s                GBP'000s 
-------------------------------  ----------------  --------------  ---------------------- 
 Non-Current Assets 
Intangible assets                           2,851           2,715                   2,773 
Tangible assets                                28              33                      30 
                                   --------------  --------------          -------------- 
                                            2,879           2,748                   2,803 
Current assets 
Trade and other receivables                    49              40                      37 
Cash and cash equivalents                     348             277                     561 
                                   --------------  --------------          -------------- 
                                              397             316                     598 
                                   --------------  --------------          -------------- 
Current liabilities 
Trade and other payables                    (395)           (331)                   (411) 
Other borrowing                             (100)           (100)                   (100) 
                                   --------------  --------------          -------------- 
                                            (495)           (431)                   (511) 
                                   --------------  --------------          -------------- 
Net Current Liabilities                      (98)           (115)                      87 
 
Non-Current Liabilities 
Borrowings                                     -                -                       - 
                                   --------------  --------------          -------------- 
                                            2,781           2,633                   2,890 
 
Equity 
Share capital                               2,103           2,003                   2,103 
Share premium                               9,783           9,413                   9,783 
Other reserves                                  3               3                       3 
Merger reserve                              3,150           3,150                   3,150 
Reverse acquisition reserve               (7,361)         (7,361)                 (7,361) 
Retained losses                           (4,897)         (4,575)                 (4,788) 
                                   --------------  --------------          -------------- 
Total                                       2,781           2,633                   2,890 
 
 
 

INSPIRIT ENERGY HOLDINGS PLC

Consolidated

Statement of Changes in Equity

For the six months ended 31 December 2021

 
                                               Attributable to the owners of the parent 
                          --------------------------------------------------------------------------------- 
                             Share      Share          Other     Merger        Reverse   Retained     Total 
                                      premium       reserves    reserve    acquisition 
                                                                               reserve 
                           capital                                                         losses    Equity 
                           GBP'000    GBP'000        GBP'000    GBP'000        GBP'000    GBP'000   GBP'000 
------------------------  --------  ---------  -------------  ---------  -------------  ---------  -------- 
 BALANCE AT 30 June 
  2019                       1,818      8,185              3      3,150        (7,361)    (4,336)     1,459 
------------------------  --------  ---------  -------------  ---------  -------------  ---------  -------- 
 Loss for the period             -          -              -          -              -      (199)     (199) 
 TOTAL COMPREHENSIVE 
  INCOME FOR THE PERIOD          -          -              -          -              -      (199)     (199) 
------------------------  --------  ---------  -------------  ---------  -------------  ---------  -------- 
 Share issues                  149      1,028              -          -              -          -     1,177 
 Share issue costs               -       (21)              -          -              -          -      (21) 
------------------------  --------  ---------  -------------  ---------  -------------  ---------  -------- 
 TRANSACTIONS WITH 
  OWNERS                       149      1,007              -          -              -          -     1,156 
------------------------  --------  ---------  -------------  ---------  -------------  ---------  -------- 
 BALANCE AT 30 June 
  2020 (Audited)             1,967      9,192              3      3,150        (7,361)    (4,535)     2,417 
------------------------  --------  ---------  -------------  ---------  -------------  ---------  -------- 
 Loss for the period             -          -              -          -              -      (253)     (253) 
 TOTAL COMPREHENSIVE 
  INCOME FOR THE PERIOD          -          -              -          -              -      (253)     (253) 
------------------------  --------  ---------  -------------  ---------  -------------  ---------  -------- 
 Share issues                  136        621              -          -              -                  757 
 Share issue costs               -       (30)              -          -              -          -      (30) 
------------------------  --------  ---------  -------------  ---------  -------------  ---------  -------- 
 TRANSACTIONS WITH 
  OWNERS                       136        591              -          -              -          -       727 
------------------------  --------  ---------  -------------  ---------  -------------  ---------  -------- 
 BALANCE AT 30 June 
  2021 (Audited)             2,103      9,783              3      3,150        (7,361)    (4,788)     2,890 
------------------------  --------  ---------  -------------  ---------  -------------  ---------  -------- 
 Loss for the period             -          -              -          -              -      (109)     (109) 
 TOTAL COMPREHENSIVE 
  INCOME FOR THE PERIOD          -          -              -          -              -      (109)     (109) 
------------------------  --------  ---------  -------------  ---------  -------------  ---------  -------- 
 Share issues                    -          -              -          -              -          -         - 
 Share issue costs               -                         -          -              -          -         - 
------------------------  --------  ---------  -------------  ---------  -------------  ---------  -------- 
 TRANSACTIONS WITH               -          -              -          -              -          -         - 
  OWNERS 
------------------------  --------  ---------  -------------  ---------  -------------  ---------  -------- 
 BALANCE AT 31 December 
  2021                       2,103      9,783              3      3,150        (7,361)    (4,897)     2,781 
------------------------  --------  ---------  -------------  ---------  -------------  ---------  -------- 
 

INSPIRIT ENERGY HOLDINGS PLC

Consolidated

Statement of Cash Flows

For the six months ended 31 December 2021

 
                                               Group            Group                 Group 
                                          Six months       Six months                  Year 
                                                  to               to                    to 
                                         31 December      31 December               30 June 
                                                2021             2020                  2021 
                                           Unaudited        Unaudited               Audited 
                               Note          GBP'000          GBP'000               GBP'000 
----------------------------  -----  ---------------  ---------------  -------------------- 
 
 Operating activities 
 Net cash from operating 
  activities                    6              (135)             (58)                 (184) 
                                      --------------   --------------        -------------- 
 Net cash generated/(used) 
 in operating activities                       (135)             (58)                 (184) 
                                      --------------   --------------        -------------- 
 
 Investing activities 
 Acquisition of intangible 
 assets                                         (78)             (49)                 (108) 
 Acquisition of plant 
  and equipment                                    -                -                   (2) 
                                      --------------   --------------        -------------- 
 Net cash from financing 
  activities                                    (78)             (49)                 (110) 
                                      --------------   --------------        -------------- 
 
 Financing activities 
 Issue of share capital 
  (Net of fees)                                    -              257                   757 
 Finance costs                                     -              (1)                  (30) 
                                      --------------   --------------        -------------- 
 Net cash from financing 
  activities                                       -              256                   727 
                                      --------------   --------------        -------------- 
 Net cash outflow                              (213)              149                   433 
 
 Cash and cash equivalents 
 at the beginning of the 
 period                                          561              128                   128 
                                      --------------   --------------        -------------- 
 Cash and cash equivalents 
 at the end of the period                        348              277                   561 
 
 
 

INSPIRIT ENERGY HOLDINGS PLC

Consolidated Notes to the Interim Financial Information

   1.   General Information 

The principal activity of Inspirit Energy Holdings PLC ("the Company") during the period was that of an investment company which aims to invest in disruptive products or technologies that are either proven or at the later stages of development, which own or have exclusive licence to the relevant intellectual property.

Inspirit Energy Holdings PLC is a company incorporated and domiciled in England and Wales and quoted on AIM, a market operated by the London Stock Exchange. The address of its registered office is 200 Aldersgate Street, London EC1A 4HD, United Kingdom.

   2.   Basis of Preparation 

The interim financial information set out above does not constitute statutory accounts within the meaning of the Companies Act 2006. It has been prepared on a going concern basis in accordance with the recognition and measurement criteria of International Financial Reporting Standards (IFRS) as adopted by the European Union. Statutory financial statements for the year ended 30 June 2021 were approved by the Board of Directors on 29 December 2021 and delivered to the Registrar of Companies. The report of the auditors on those financial statements was unqualified.

The interim financial information for the six months ended 31 December 2021 has not been reviewed or audited. The interim financial report has been approved by the Board on 29 March 2021.

Going concern

The Directors, having made appropriate enquiries, consider that adequate resources exist for the Company to continue in operational existence for the foreseeable future and that, therefore, it is appropriate to adopt the going concern basis in preparing the interim financial statements for the period ended 31 December 2021.

Risks and uncertainties

The Board continuously assesses and monitors the key risks of the business. The key risks that could affect the Company's medium term performance and the factors that mitigate those risks have not substantially changed from those set out in the Company's 2021 Annual Report and Financial Statements, a copy of which is available on the Company's website: www.inspirit-energy.com. The key financial risks are liquidity and credit risk.

Critical accounting estimates

The preparation of interim financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the end of the reporting period. Significant items subject to such estimates are set out in note 2 of the Company's 2021 Annual Report and Financial Statements. The nature and amounts of such estimates have not changed significantly during the interim period.

   3.   Significant Accounting Policies 

The accounting policies applied are consistent with those of the annual nancial statements for the year ended 30 June 2021, as described in those annual nancial statements.

4. Segmental Analysis

The Company's primary reporting format is business segments and its secondary format is geographical segments. The Company only operates in a single business and geographical segment. Accordingly, no segmental information for business segment or geographical segment is required.

   5.   Loss per Share 

The loss per ordinary share is based on the Group's loss for the period of GBP109,000 (company's loss - 6 months to 31 December 2020 GBP40,000; year ended 30 June 2021 - GBP253,000) and a basic and diluted weighted average number of ordinary shares of GBP0.0001 each in issue of 4,271,640,183 (31 December 2020: 2,996,232,580 - basic and diluted 3,339,326,136; 30 June 2021).

   6.   Reconciliation of Operating Loss to Net Cash Outflow from Operating Activities 
 
                                   Group           Group           Group 
                              Six months      Six months            Year 
                                      to              to              to 
                             31 December     31 December         30 June 
                                    2021            2020            2021 
                               Unaudited       Unaudited         Audited 
                                GBP'000s        GBP'000s        GBP'000s 
------------------------  --------------  --------------  -------------- 
Operating Loss for the 
 period                            (137)            (64)           (253) 
Adjustments for : 
(Increase)/Decrease in 
 receivables                        (12)              11             (6) 
(Decrease)/Increase in 
 payables                           (16)            (32)              50 
Depreciation                           2               2               7 
Finance expense                        -               1               - 
Tax credit                             -               -            (24) 
Tax Received                          28              24              42 
                          --------------  --------------  -------------- 
Net cash from operating 
 activities                        (135)            (58)           (184) 
 
 
   7.   Issued and fully paid 

The issued share capital is as follows

 
                   Number of       Number         Ordinary   Deferred   New Deferred   Share premium   Total 
                    ordinary        of deferred    shares     shares     B shares 
                    shares          shares 
                                                  GBP        GBP        GBP            GBP             GBP 
----------------  --------------  -------------  ---------  ---------  -------------  --------------  ----------- 
 At 30 June 
  2019             1,420,806,859        400,932     14,208    396,923      1,406,599      11,335,656   13,153,386 
----------------  --------------  -------------  ---------  ---------  -------------  --------------  ----------- 
 Issue of new 
  shares           1,482,976,188              -    148,298          -              -       1,027,702    1,176,000 
 Issue costs                   -              -          -          -              -        (20,625)     (20,625) 
 At 30 June 
  2020             2,903,783,047        400,932    162,506    396,923      1,406,599      12,342,733   14,308,761 
----------------  --------------  -------------  ---------  ---------  -------------  --------------  ----------- 
 Issue of new 
  shares           1,367,857,139              -    136,786          -              -         620,714      757,500 
 Issue costs                   -              -          -          -              -        (30,000)     (30,000) 
 At 30 June 
  2021             4,271,640,186        400,932    299,292    396,923      1,406,599      12,933,447   15,036,261 
----------------  --------------  -------------  ---------  ---------  -------------  --------------  ----------- 
 At 31 December 
  2021             4,271,640,186        400,932    299,292    396,923      1,406,599      12,933,447   15,036,261 
----------------  --------------  -------------  ---------  ---------  -------------  --------------  ----------- 
 
   8.   Subsequent events after the reporting period 

None

9. Copies of this interim financial information document are available from the Company at its registered office at 200 Aldersgate Street, London EC1A 4HD. The interim financial information document will also be available on the Company's website www.inspirit-energy.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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

IR BLGDXUSXDGDG

(END) Dow Jones Newswires

March 31, 2022 02:00 ET (06:00 GMT)

1 Year Inspirit Energy Chart

1 Year Inspirit Energy Chart

1 Month Inspirit Energy Chart

1 Month Inspirit Energy Chart
Your Recent History
LSE
INSP
Inspirit E..
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.

Log in to ADVFN
Register Now

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

P: V:gb D:20221208 11:05:56