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Last checked at 
18 Jul 2014 07:00
Ducat Ventures Plc ("Company")
Half Yearly Report
The Board of Ducat presents the unaudited historical financial information of the Company for the 6 months to 31 May 2014.
Consolidated Statement of Comprehensive Income
For the six months ended 31 May 2014
|
|
| Six months to 31 May 2014 | Six months to 31 May 2013 |
|
|
| (Unaudited) | (Unaudited) |
Continuing operations |
|
| £ | £ |
|
|
|
|
|
Revenue |
|
| - | - |
Cost of Sales |
|
| - | - |
|
|
| ─────── | ─────── |
|
|
|
|
|
Gross Loss |
|
| - | - |
|
|
|
|
|
Administrative expenses |
|
| (57,643) | (166,453) |
|
|
| ─────── | ─────── |
Operating Loss |
|
| (57,643) | (166,453) |
|
|
|
|
|
Non Operating Items |
|
|
|
|
Impairment of investments |
|
| - | (500,000) |
Impairment of intercompany loans |
|
| - | (1,384,068) |
Surplus arising on settlements with trade creditors |
|
|
- |
- |
|
|
| ─────── | ─────── |
|
|
| (57,643) | (2,050,521) |
|
|
|
|
|
Finance Costs |
|
| - | - |
|
|
| ─────── | ─────── |
Loss Before Tax |
|
| (57,643) | (2,050,521) |
|
|
|
|
|
Taxation |
|
| - | - |
|
|
| ─────── | ─────── |
Total comprehensive income for the period |
|
|
(57,643) |
(2,050,521) |
|
|
| ═══════ | ═══════ |
|
|
|
|
|
Loss per share |
|
| 0.006p | 2.29p |
|
|
| ═══════ | ═══════ |
|
|
|
|
|
Consolidated Balance Sheet
For the six months ended 31 May 2014
|
|
| Six months to 31 May 2014 | Six months to 31 May 2013 |
|
|
| (Unaudited) | (Unaudited) |
ASSETS |
|
| £ | £ |
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
Trade and other receivables |
|
| 10,034 | 49,077 |
Cash and cash equivalents |
|
| 105,221 | 4,945 |
|
|
| ─────── | ─────── |
|
|
| 115,255 | 54,022 |
|
|
| ─────── | ─────── |
|
|
|
|
|
Total Assets |
|
| 115,255 | 54,022 |
|
|
| ═══════ | ═══════ |
|
|
|
|
|
|
|
|
|
|
EQUITY |
|
|
|
|
Shareholders' Equity |
|
|
|
|
Called up share capital |
|
| 5,742,586 | 5,636,083 |
Share premium |
|
| 1,355,502 | 1,086,875 |
Share based payment reserve |
|
| 27,200 | 27,200 |
Retained earnings |
|
| (7,013,950) | (6,830,754) |
|
|
| ─────── | ─────── |
Total Equity |
|
| 111,338 | (80,596) |
|
|
| ─────── | ─────── |
|
|
|
|
|
LIABILITIES |
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
|
Trade and other payables |
|
| 3,917 | 134,618 |
|
|
| ─────── | ─────── |
|
|
| 3,917 | 134,618 |
|
|
| ─────── | ─────── |
Total Equity and Liabilities |
|
| 115,255 | 54,022 |
|
|
| ══════ | ═══════ |
Consolidated statement of changes in equity
For the six months ended May 2014
|
Called up Share Capital |
Share Premium | Share- Based Payment Reserve |
Retained Earnings |
Total Equity |
| £ | £ | £ | £ | £ |
|
|
|
|
|
|
Balance at 1 August 2012 | 5,574,070 | 838,822 | 27,200 | (4,780,233) | 1,659,859 |
|
|
|
|
|
|
Loss for period | - | - | - | (2,050,521) | (2,050,521) |
|
|
|
|
|
|
Issue of shares | 62,013 | 248,053 | - | - | 310,066 |
| ─────── | ────── | ────── | ─────── | ─────── |
Balance at 31 May 2013 | 5,636,083 | 1,086,875 | 27,200 | (6,830,754) | (80,596) |
|
|
|
|
|
|
Loss for the period | - | - | - | (125,553) | (125,553) |
|
|
|
|
|
|
Issue of shares | 86,165 | 215,936 | - | - | 302,101 |
| ─────── | ────── | ────── | ─────── | ─────── |
Balance at 30 November 2013 | 5,722,248 | 1,302,811 | 27,200 | (6,956,307) | 95,952 |
|
|
|
|
|
|
Loss for the period | - | - | - | (57,643) | (57,643) |
|
|
|
|
|
|
Issue of ordinary shares at £0.0004 per shares less cost |
20,338 |
52,691 | -
|
- |
73,029 |
| ─────── | ────── | ────── | ─────── | ─────── |
Balance at 31 May 2014 | 5,742,586 | 1,355,502 | 27,200 | (7,013,950) | 113,338 |
| ══════ | ══════ | ══════ | ══════ | ═══════ |
Consolidated Statement of Cash Flows
As at 31 May 2014
|
| Six months to 31 May 2014 | Six months to 31 May 2013 |
|
| (Unaudited) | (Unaudited) |
|
| £ | £ |
|
|
|
|
Cash flows from operating activities |
|
|
|
Loss before tax |
| (57,643) | (166,453) |
(Increase)/decrease in trade and other receivables |
|
291,233 |
(81,262) |
Increase)/decrease in trade and other payables |
|
(201,548) |
(57,416) |
|
| ─────── | ─────── |
Net cash from operating activities |
| 32,042 | (305,131) |
|
| ─────── | ─────── |
|
|
|
|
|
|
|
|
Cash flows from financing activities |
|
|
|
Issue of equity net of costs |
| 73,029 | 310,067 |
Finance interest paid |
| - | - |
|
| ─────── | ─────── |
Net cash from financing activities |
| 73,029 | 310,067 |
|
| ─────── | ─────── |
|
|
|
|
Increase/(decrease) in cash and cash equivalents |
|
105,071 |
4,936 |
|
|
|
|
Cash and cash equivalents at the beginning of period |
|
150 |
9 |
|
| ─────── | ─────── |
Cash and cash equivalents at the end of period |
|
105,221 |
4,945 |
|
| ══════ | ═══════ |
|
|
Enquiries:
For further information, please contact:
Ducat Ventures plc | Nicholas Nelson | 07921 522 920 |
Cairn Financial Advisers LLP | Liam Murray / Avi Robinson | 020 7148 7900 |
Peterhouse Corporate Finance Ltd | Lucy Williams/ Duncan Vasey | 020 7469 0936 |
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