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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Limitless Earth Plc | LSE:LME | London | Ordinary Share | GB00BKXP5L71 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.25 | 2.00 | 2.50 | 2.25 | 2.25 | 2.25 | 0.00 | 07:31:04 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Business Services, Nec | 0 | -476k | -0.0073 | -3.08 | 1.47M |
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TIDMLME
30 October 2018
LIMITLESS EARTH PLC
("Limitless" or the "Company")
UNAUDITED HALF-YEARLY RESULTS FOR THE SIX MONTHSED 31 JULY 2018
The Company is pleased to announce its half-yearly result for the six months to
31 July 2018.
CHIEF EXECUTIVE'S STATEMENT
Limitless is a proactive investing company that focuses on making investments
in and assisting companies that show the potential to generate returns through
capital appreciation. The directors look to make investments into small
companies which have clear routes to value appreciation and which operate in
sectors with long term growth prospects that are driven by demographic change.
Examples of such sectors include Cleantech, Life Sciences and Technology.
During the reporting period, the Company looked at new potential investments
and opened a series of due diligence on potential new investments some of which
are ongoing.
Our existing investments are progressing in line with management expectations
and, as we have announced, we consider Saxa Gres in particular to be showing
exciting potential. The Board continues to actively source further suitable
investments.
The Board understands as per previous years, that cost control is important at
all times and on behalf of the shareholders, the directors carefully keep
operating costs to a minimum to preserve shareholder value.
For the period, Limitless made a net loss on operations of GBP55,427 (2017: GBP
61,320) and the unaudited balance sheet reflects the cash and cash equivalents
at the reporting date of GBP591,504 (2017: GBP791,261) and Investments held for
trading totalling GBP1,603,268 (2017: GBP1,535,651).
This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014.
For further information, please contact:
Limitless Earth plc www.limitlessearthplc.com
Guido Contesso - CEO +44 7780 700 091
Cairn Financial Advisers LLP +44 20 7213 0880
Nominated Adviser www.cairnfin.com
Jo Turner/Tony Rawlinson
Peterhouse Corporate Finance Limited +44 20 7469 0930
Joint Broker www.pcorpfin.com
Peter Greensmith
UNAUDITED INCOME STATEMENT AND
STATEMENT OF COMPREHENSIVE INCOME
6 MONTHSED 31 JULY 2018
Notes Unaudited Unaudited Audited
31/07/18 31/07/17 31/01/18
Continuing operations GBP GBP GBP
Administration expenses (83,923) (67,549) (218,741)
Operating loss (83,923) (67,549) (218,741)
Finance Income 28,496 6,229 54,103
Loss before taxation (55,427) (61,320) (164,638)
Taxation - - -
Loss for the period (55,427) (61,320) (164,638)
Total Comprehensive loss for the period (55,427) (61,320) (164,638)
Loss attributable to:
Equity Holders (55,427) (61,320) (164,638)
Earnings per share:
Basic and diluted loss per share 3 (0.09p) (0.10p) (0.25p)
There are no items of other comprehesive income.
UNAUDITED STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2018
Unaudited Unaudited Audited
31/07/18 31/07/17 31/01/18
GBP GBP GBP
Current assets
Investments held for trading 1,603,268 1,535,651 1,603,268
Trade and Other receivables 33,295 51,102 39,128
Cash 591,504 791,261 648,333
2,228,067 2,378,014 2,290,729
Total Assets 2,228,067 2,378,014 2,290,729
Current Liabilities
Trade and other payables (46,485) (37,688) (53,720)
Net Assets 2,181,582 2,340,326 2,237,009
Equity
Issued Share Capital 654,000 654,000 654,000
Share Premium 2,350,630 2,350,630 2,350,630
Share Warrant Reserve 14,095 14,095 14,095
Retained Earnings (837,143) (678,399) (781,716)
Total Equity 2,181,582 2,340,326 2,237,009
UNAUDITED CASH FLOW STATEMENT FOR THE
6 MONTHSED 31 JULY 2018
Unaudited Unaudited Audited
Note
31/07/18 31/07/17 31/01/18
GBP GBP GBP
Cash flows from operating activities
Net cash absorbed by operating activities 4 (85,325) (117,344) (240,529)
Cash Flows from Investing Activities
Finance income received net 28,496 6,229 54,103
Purchase of investments - (239,208) (306,825)
Net Cash Used in Investing activities 28,496 (232,979) (252,722)
Net increase in cash (56,829) (350,323) (493,251)
Cash at the beginning of period 648,333 1,141,584 1,141,584
Cash at the end of the period 591,504 791,261 648,333
Statement of Changes in Shareholders' Equity
for the period ended 31 July
2018
Share Share Share Retained Total
capital premium warrant earnings
reserve
GBP GBP GBP GBP GBP
Audited Changes in Equity 654,000 2,350,630 14,095 (474,970) 2,543,755
for the period ended 31
January 2017
Comprehensive loss for the - - - (142,108) (142,108)
period
Total contributions by the - - - (142,108) (142,108)
owners
At 31 January 2017 654,000 2,350,630 14,095 (617,078) 2,401,647
Audited Changes in Equity
for the period ended 31
January 2018
Comprehensive loss for the - - - (164,638) (164,638)
period
Total contributions by the - - - (164,638) (164,638)
owners
At 31 July 2017 654,000 2,350,630 14,095 (781,716) 2,237,009
Unaudited Changes in Equity
for the period ended 31 July
2018
Comprehensive loss for the - - - (55,427) (55,427)
period
Total contributions by the - - - (55,427) (55,427)
owners
At 31 July 2018 654,000 2,350,630 14,095 (837,143) 2,181,582
NOTES TO THE FINANCIAL STATEMENTS
1. General Information
Limitless Earth plc is a company incorporated and domiciled in England and
Wales. The Company's ordinary shares are traded on AIM of the London Stock
Exchange. The address of the registered office is 30 Percy Street, London W1T
2DB.
The principal activity of the Company is that of an investing company pursuing
a strategy
2. Accounting policies
The principal accounting policies are summarised below. They have all been
applied consistently throughout the period covered by these financial
statements.
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.
The financial statements have been prepared under the historical cost
convention.
The interim financial information for the six months ended 31 July 2018 has not
been reviewed or audited. The interim financial report has been approved by the
Board on 29 October 2018.
3. Loss per share
The basic earnings per share is calculated by dividing the earnings
attributable to ordinary shareholders by the weighted average number of
ordinary shares outstanding during the period. Diluted earnings per share is
computed using the same weighted average number of shares during the period
adjusted for the dilutive effect of share warrants and convertible loans
outstanding during the period.
Unaudited Unaudited Audited
31/07/18 31/07/17 31/01/18
Loss from continuing operations (55,427) (61,320) (164,638)
attributable to equity holders of
the company
Weighted average number of ordinary 65,400,000 65,400,000 65,400,000
shares in issue
Pence Pence Pence
Basic and fully diluted loss per (0.09) (0.10)
share from continuing operations (0.25)
IAS 33 requires presentation of diluted earnings per share when a company could
be called upon to issue shares that would decrease earnings per share or
increase net loss per share. For a loss making company with outstanding share
options and warrants, net loss per share would only be increased by the
exercise of out-of-the money options and warrants. Since it seems inappropriate
that option holders would act irrationally, no adjustment has been made to
diluted earnings per share for out-of-the money options and warrants in the
comparatives. There are no other diluting share issues.
4. Cash absorbed by operations
Unaudited Unaudited Period to
31/07/ 31/07/2017 31/01/
2018 2018
GBP GBP
GBP
Loss for the period (55,427) (61,320) (164,638)
Finance income (28,496) (6,229) (54,103)
Increase decrease in 5,834 (6,000) 5.974
receivables
Decrease / increase in (7,236) (43,795) (27,762)
payables
Cash absorbed by operations (85,325) (117,344) (240,529)
5. Copies of Interim Accounts
Copies of the interim results are available at the Group´s web site at
www.limitlessearthplc.com.
END
(END) Dow Jones Newswires
October 30, 2018 03:00 ET (07:00 GMT)
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