TIDMBASK
RNS Number : 1939U
Baskerville Capital PLC
27 March 2019
27(th) March 2019
BASKERVILLE CAPITAL PLC
("Baskerville" or "the Company")
Interim Report for the six months ended 31 December 2018
Baskerville (BASK) announces its unaudited interim financial
results for the six months ended 31 December 2018.
Period events:
-- Loss of GBP53,146
-- Cash balances of over GBP1.5m at period end
Rodger Sargent, Chairman of Baskerville said: "Although there
have been no public announcements, we have looked at a large number
of possible transactions during the period. Due to either
valuation, business model or quality of management, we have yet to
identify an acquisition we feel meets our required standards. The
search continues and we will update shareholders when
possible."
For information please contact:
Baskerville Capital www.baskcap.com
plc
Rodger Sargent via Walbrook PR
Walbrook PR Ltd Tel: 020 7933 8780 or baskerville@walbrookpr.com
Paul Cornelius Mob: 07866 384 707
Sam Allen Mob: 07884 664 686
CHAIRMAN'S STATEMENT
Introduction
I am pleased to present the unaudited interim results for the
period ended 31 December 2018. During this interim period,
Baskerville recorded a loss of GBP53,146, being the minimal running
costs of the Company. Cash assets at period end were over GBP1.5
million.
Outlook
We continue to consider a number of potential investments within
the technology sector. When we have identified a company that has
the potential to create significant shareholder value, we will
update the market.
Rodger Sargent
Chairman
27(th) March 2019
INTERIM STATEMENT OF COMPREHENSIVE INCOME FOR THE SIX MONTHS TO
31 DECEMBER 2018
Unaudited Unaudited period
period to to 31 December
31 December 2017
2018
Notes GBP GBP
Revenue 2 - -
------------------- -------------------
Gross profit - -
General & administrative
expenses (57,178) (50,696)
------------------- -------------------
Loss from operations before
interest (57,178) (50,696)
Interest income 4,032 -
-------------------- --------------------
Loss before tax (53,146) (50,696)
Tax - -
--------------------- ---------------------
Retained Loss after tax
for the period (53,146) (50,696)
============= =============
Retained loss attributable
to:
Owners of the company (53,146) (50,696)
------------------- -------------------
Loss for period (53,146) (50,696)
============= =============
Total comprehensive loss
attributable to:
Owners of the company (53,146) (50,696)
--------------------- ---------------------
Total comprehensive loss
for the period (53,146) (50,696)
============= =============
Loss per share
Basic and diluted 3 (0.11p) (0.21p)
============= =============
INTERIM STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER
2018
Unaudited as Audited as at
at 31 December 30 June 2018
2018
Notes GBP GBP
ASSETS
Current assets
Trade and other receivables - 14,618
Cash and cash equivalents 1,538,260 1,616,216
----------------------- -----------------------
TOTAL CURRENT ASSETS 1,538,260 1,630,834
CURRENT LIABILITIES
Trade and other payables (194) (39,622)
------------------------ ------------------------
TOTAL NET ASSETS 1,538,066 1,591,212
============ ============
Share capital 4 239,000 239,000
Share premium reserve 1,467,894 1,467,894
Share option reserves 53,252 53,252
Retained loss (222,080) (168,934)
------------------------ ------------------------
TOTAL EQUITY 1,538,066 1,591,212
============ ============
UNAUDITED INTERIM STATEMENT OF CHANGES IN EQUITY
FOR THE SIX MONTHS TO 31 DECEMBER
2018
Share Share
Share premium Option Retained Total
capital account Reserve loss equity
GBP GBP GBP GBP GBP
As at 1 July 2018 239,000 1,467,894 53,252 (168,934) 1,591,212
Loss for the period - - (53,146) (53,146)
Balance at 31
December 2018 239,000 1,467,894 53,252 (222,080) 1,538,066
========= ========== ======= ========== ==========
FOR THE SIX MONTHS TO 31 DECEMBER
2017
Share Share
Share premium Option Retained Total
capital account Reserve loss equity
GBP GBP GBP GBP GBP
As at 6 April - - - - -
2017
Loss for the period - - - (50,696) (50,696)
--------- ---------- ------- ---------- ----------
Total comprehensive loss
Share capital
issued (net of
transaction costs) 239,000 1,467,894 - - 1,706,494
Balance at 31
December 2017 239,000 1,467,894 - (50,696) 1,655,798
========= ========== ======= ========== ==========
INTERIM STATEMENT OF CASH FLOW FOR THE SIX MONTHS TO DECEMBER
2018
Unaudited period Unaudited period
to 31 December to 31 December
2018 2017
GBP GBP
Cash flow from operating activities
Loss for the period (53,146) (50,696)
------------------------- -------------------------
Operating cash flows before movements
in working capital (53,146) (50,696)
Interest income (4,032) -
(Decrease)/increase in payables (39,428) 40,586
Decrease in receivables 14,618 -
--------------------- ---------------------
Net cash outflow from operating activities (81,988) (10,110)
Cash flow from investing activities
Interest income 4,032 -
------------------------ ------------------------
Net cash flow from investing activities 4,032 -
Cash flow from financing activities
Net proceeds from issue of share capital - 1,706,494
------------------------ ------------------------
Net cash flow from financing activities - 1,706,494
------------------------ ------------------------
Net cash inflow for the period (77,956) 1,696,384
---------------------- ----------------------
Cash and cash equivalents at start of
period 1,616,216 -
----------------------- -----------------------
Cash and cash equivalents at end of
period 1,538,260 1,696,384
============ ============
NOTES TO THE UNAUDITED INTERIM REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2017
1. BASIS OF PREPARATION
The interim financial statements have been prepared on a going
concern basis and in accordance with the recognition and
measurement principles of International Financial Reporting
Standards adopted for use in the European Union ("IFRS").
The interim financial statements for the period ended 31
December 2018 have not been audited and do not constitute statutory
accounts within the meaning of Section 434 of the Companies Act
2006.
This Interim Financial Report was approved by the Board of
Directors on 27(th) March 2019.
Statement of compliance
These condensed consolidated interim financial statements have
been prepared in accordance with International Accounting Standard
('IAS') 34 - Interim Financial Reporting as adopted by the European
Union. Accordingly the interim financial statements do not include
all of the information or disclosures required in the annual
financial statements. The accounting policies that the Company has
applied in the preparation of these interim financial statements
are consistent with the policies described in the Company's latest
annual financial statements, being the accounts for the period to
30 June 2018.
Going concern
The Company reported a loss for the 6 month period ended 31
December 2018 of GBP53,146 (period ended 31 December 2017:
GBP50,696). The Directors' have considered the appropriateness of
the going concern basis and note that as at the balance sheet date
the Company has significant cash balances of GBP1.5 million which
is sufficient to cover the anticipated on-going operating costs of
the Company for a period of at least 12 months from the date that
the interim financial statements will be approved. Accordingly, the
Directors' consider that the going concern basis of preparation
remains appropriate.
2. TURNOVER AND SEGMENTAL ANALYSIS
All of the Company's activity and income and expenses in the
period ended 31 December 2018 were incurred in the United Kingdom,
and relate to Baskerville's ongoing investment activities.
3. LOSS PER SHARE
The calculation of the basis and diluted earnings per share is
based on the following data:
Earnings
Earnings for the purposes of basic earnings per
share net loss for the period attributable to equity
holders of the company (53,146)
Number of shares
Weighted average number of ordinary shares in issue 47,800,000
The denominator for the purpose of calculating the basic
earnings per share has been adjusted to reflect all capital
raisings.
4. SHARE CAPITAL Number of Nominal value Premium (net of
transaction costs)
shares GBP GBP
a) Issued and Fully Paid:
As at 31 December 2018 47,800,000 239,000 GBP1,467,494
============== ============ ============
The nominal value of the shares is GBP0.005
The Company has 13,500,000 warrants in issue to the initial
shareholders and the directors exercisable at either 2.5 pence or
7.5 pence per share which expire on the second anniversary of the
Admission.
5. AVAILABILITY OF INTERIM RESULTS
Copies of the Interim Results for the period to 31 December 2018
are available from the Company's registered address and will be
available on the Company's website, later today.
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
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END
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