![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Vordere Plc | LSE:VOR | London | Ordinary Share | GB00B6QZLQ32 | ORD GBP0.02 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 10.00 | 8.50 | 11.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMACO
RNS Number : 9102X
Acorn Minerals PLC
25 November 2014
ACORN MINERALS PLC
("Acorn" or "the Company")
Half yearly report for the six months ended 30 September 2014
Chairman's Report
As at 30 September 2014
Dear Shareholders
It is with pleasure that I present the annual report to shareholders for the six month period ending 30(th) September 2014.
In the past 6 months your board has continued to identify and assess suitable opportunities in the mining, minerals & energy sectors, including both conventional and alternative energy projects as well as mining and energy infrastructure projects that are consistent with our investment strategy.
To date we have reviewed over 25 projects that meet these criteria.
At the period end we have approximately LIR1.270m cash, no debt and continue to keep administration costs to a minimum so that maximum funds can be dedicated to the review of and potentially investments in suitable projects.
We will continue to review projects where we believe value can be created for Acorn shareholders which requires considerable work by your board and on your behalf I thank my fellow directors Charles Goodfellow and Brent Fitzpatrick for their effort and commitment to this cause and I also thank you for your ongoing support.
Tony Brennan
Chairman
For further information please contact:
Acorn Minerals Plc Tel: +61 8 9322 5944
Anthony Brennan, Executive Chairman
Shore Capital Tel: 020 7408 4090
Bidhi Bhoma / Toby Gibbs (corporate finance)
Jerry Keen (corporate broking)
Unaudited statement of profit or loss and other comprehensive income
for the six months ended 30 September 2014
Note Six months Six months Year ended ended ended 30 Sep 30 Sep 31 Mar 2014 2013 2014 GBP GBP GBP Revenue - - - Administrative costs (40,074) (56,106) (127,622) ------------------------- ----- ----------- ----------- ----------------- Operating (Loss) (40,074) (56,106) (127,622) Net finance costs 475 503 977 (Loss) before taxation (39,599) (55,603) (126,645) Taxation - - - ------------------------- ----- ----------- ----------- ----------------- (Loss) for the period attributable to owners of the company (39,599) (55,603) (126,645) ------------------------- ----- ----------- ----------- ----------------- Total comprehensive income attributable to the owners of the company (39,599) (55,603) (126,645) ------------------------- ----- ----------- ----------- ----------------- Loss per share Basic 4 (0.006) (0.006) (0.009) Diluted (0.006) (0.006) (0.009)
Statement of financial position
as at 30 September 2014
Note Six months Six months Year ended ended ended 30 Sep 30 Sep 31 Mar 2014 2013 2014 GBP GBP GBP ----------------------------- ----- ----------- ----------- ---------------- CURRENT ASSETS Trade and other receivables - - - Cash and cash equivalents 1,270,381 1,369,422 1,318,730 ----------------------------- ----- ----------- ----------- ---------------- Total current assets 1,270,381 1,369,422 1,318,730 LIABILITIES Trade and other payables (14,500) (2,900) (23,250) ----------------------------- ----- ----------- ----------- ---------------- Total current liabilities (14,500) (2,900) (23,250) ----------------------------- ----- ----------- ----------- ---------------- NET ASSETS 1,255,881 1,366,522 1,295,480 ----------------------------- ----- ----------- ----------- ---------------- EQUITY Capital and reserves attributable to owners of the company Share capital 5 285,760 285,760 285,760 Share premium 1,380,917 1,380,917 1,380,917 Retained earnings (410,796) (300,155) (371,197) ----------------------------- ----- ----------- ----------- ---------------- 1,255,881 1,366,522 1,295,480 ----------------------------- ----- ----------- ----------- ----------------
Unaudited statement of changes in equity
for the six months ended 30 September 2014
Share Share Retained Total capital premium earnings GBP GBP GBP GBP Transactions with owners Shares issued - - - - Share issue costs - - - - Total transactions with - - - - owners Comprehensive Loss Loss for the period - - (55,603) (55,603) Total comprehensive loss for the period - - (55,603) (55,603) -------------------------- --------- ---------- ---------- ---------- Total owners equity at 30 September 2013 285,760 1,380,917 (300,155) 1,366,522 -------------------------- --------- ---------- ---------- ---------- Comprehensive loss Loss for the period - - (71,042) (71,042) ---------------------- -------- ---------- ---------- ---------- Total comprehensive loss for the period - - (71,042) (71,042) ---------------------- -------- ---------- ---------- ---------- Total owners equity at 31 March 2014 285,760 1,380,917 (371,197) 1,295,480 ---------------------- -------- ---------- ---------- ---------- Comprehensive loss Loss for the period - - (39,599) (39,599) ----------------------- -------- ---------- ---------- ---------- Total comprehensive loss for the period - - (39,599) (39,599) ----------------------- -------- ---------- ---------- ---------- Total owners equity at 30 September 2014 285,760 1,380,917 (410,796) 1,255,881 ----------------------- -------- ---------- ---------- ----------
Unaudited statement of cash flows
for the six months ended 30 September 2014
Six months Six months Year ended ended ended 30 Sep 30 Sep 31 Mar 2014 2013 2014 GBP GBP GBP ------------------------------------ ----------- ----------- ---------------- Cash flows from operating activities Operating (Loss) (40,074) (56,106) (127,644) Decrease/(Increase) in receivables - 62,300 62,300 (Decrease)/Increase in payables (8,750) (64,944) (44,594) ------------------------------------ ----------- ----------- ---------------- Net cash used in operating cash flows (48,824) (58,750) (109,916) Net cash used in cash flows from investing activities Interest received 475 503 977 ------------------------------------ ----------- ----------- ---------------- Net cash generated from investing activities 475 503 977 Net increase in cash and cash equivalents (48,349) (58,247) (108,939) Net cash at start of the period 1,318,730 ,1,427,669 1,427,669 ------------------------------------ ----------- ----------- ---------------- Cash and cash equivalents at period end 1,270,381 1,369,422 1,318,730 ------------------------------------ ----------- ----------- ----------------
Notes to the interim accounts
For the six months ended 30 September 2014
1. General information
Acorn Minerals Plc is a company incorporated in the United Kingdom.
These unaudited condensed interim financial statements for the six months ended 30 September 2014 have been prepared in accordance with International Financial Reporting Standards (IFRS) and IAS 34 "Interim Financial Reporting" as adopted by the European Union and do not constitute statutory accounts as defined in Section 434 of the Companies Act 2006. This condensed set of financial statements has been prepared applying the accounting policies that were applied in the preparation of the Company's published financial statements for the year ended 31 March 2014 and are presented in pounds sterling.
The comparative figures for the financial year ended 31 March 2014 have been extracted from the Company's statutory accounts which have been reported on by the Company's auditor and delivered to the Registrar of Companies. The report of the auditors was unqualified and did not contain a statement under the companies Act 2006 regarding matters which are required to be noted by exception. The half year results have not been audited or subject to review by the company's auditors.
2. Changes in accounting policies
The assessment of new standards, amendments and interpretations issued but not effective, are not anticipated to have a material impact on the financial statements.
3. Going concern
The company's activities, together with the factors likely to affect its future development and performance, the financial position of the company, its cash flows and liquidity position have been considered by the Directors, taking account of the current market conditions which demonstrate that the company shall continue to operate within its own resources.
The Directors believe that the company is well placed to manage its business risks successfully, and that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they consider it appropriate to adopt the going concern basis in preparing these condensed financial statements.
4. Loss per share
The calculation of the basic and fully diluted loss per share is based on the loss for the period after tax of GBP39,599 (30 Sep 13: GBP55,603; 31 Mar 2014: GBP71,042) divided by the weighted average issued ordinary shares of 7,144,002 (30 Sep 2013: 6,770,291; 31 Mar 2014: 14,288,005).
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. The company has one category of dilutive potential ordinary shares being share options. The company has made a loss and the potential shares options are therefore anti-dilutive.
5. Issued share capital
Authorised, allotted and called up share capital:
Six months Six months Year ended ended ended 30 Sept 30 Sept 31 2014 2014 Mar 2014 GBP GBP GBP 14,288,005 Ordinary shares of GBP0.02 each 285,760 285,760 285,760 285,760 285,760 285,760 ---------- ---------- ---------
6. Related parties
The related parties and the nature of costs recharged are as disclosed in the company's annual financial statements for the year ended 31 March 2014.
Mr A Brennan, a Director of Acorn Minerals PLC is also a Director of Delta Capital Pty Ltd. Delta Capital Pty Ltd has entered into a Corporate Advisor Mandate with the company. During the period the following was paid to Delta Capital Pty Ltd:
Six months Six months Year ended ended ended 31 Mar 30 Sept 30 Sept 2014 14 13 GBP GBP Project travel - 1,094 - costs reimbursed Directors fees 7,500 7,500 15,000 ----------- ----------- 7,500 8,594 15,000 ----------- ----------- -----------
Mr B Fitzpatrick, a Director of Acorn Minerals PLC is also a Director of Ocean Park Developments Ltd. During the period Directors' fees of GBP3,000 (30 Sep 2013: GBP3,000; 31 Mar 2014: GBP6,000) and reimbursed travel expenses of GBPnil (30 Sep 13: GBP201; 31 Mar 2014: GBP201l) were paid to Ocean Developments Ltd on behalf of Mr B Fitzpatrick.
During the period Directors fees of GBP3,000 (30 Sep 2013: GBP3,000; 31 Mar 2014: GBP6,000) were paid to Mr C Goodfellow, a Director of Acorn Minerals PLC.
7. Principal risks and uncertainties
Principal risks and uncertainties are set out in the annual financial statements within the directors' report and also in note 6 and are reviewed on an on-going basis.
The Board will provide leadership within a framework of appropriate and effective controls. The Board will set up, operate and monitor the corporate governance values of the company, and will have overall responsibility for setting the company's strategic aims, defining the business objective, managing the financial and operational resources of the Company and reviewing the performance of the officers and management of the company's business both prior to and following an acquisition.
There have been no significant changes in the first six months of the financial year to the principle risks and uncertainties as set out in the 31 March 2014 Annual Report and Accounts.
8. Board Approval
These interim results were approved by the Board of Acorn Minerals Plc on 24(th) November 2014.
DIRECTORS RESPONSIBILITY STATEMENT AND REPORT ON PRINCIPAL RISKS AND UNCERTANTIES
Responsibility statement
We confirm to the best of our knowledge:
(a) The condensed set of financial statements have been prepared in accordance with IAS 34 Interim Financial Reporting as adopted by the EU;
(b) The interim management report includes a fair review of the information required by:
(1) DTR 4.2.7R of the Disclosure and Transparency Rules, being an indication of important events that have occurred during the first six months of the financial year and their impact on the condensed set of financial statements; and a description of the principal risks and uncertainties for the remaining six months of the year; and
(2) DTR 4.2.8R of the Disclosure and Transparency Rules, being related party transactions that have taken place in the first six months of the current financial year and that have materially affected the financial position or performance of the entity during the period; and any changes in the related party described in the last annual report that could do so.
Mr Brent Fitzpatrick
Director
24(th) November 2013
Directors
Mr Anthony Brennan (Chairman)
Mr N Brent Fitzpatrick MBE
Mr Charles Goodfellow
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR GIBDBRDDBGSU
1 Year Vordere Chart |
1 Month Vordere Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions