Hartfield Securities Plc
LSE : HASP

April 15, 2010 10:43 ET

Interim Results

                                                     
                                                     
                                 HARTFIELD SECURITIES PLC (the "Company")
                                                     
                                              INTERIM RESULTS
                                                     

CHAIRMAN'S STATEMENT
                                                     
To accompany the accounts for the six months ended 31 January 2010.
                                                     
OVERVIEW

The  company  remains  a cash shell at present, although continuing actively to seek new  opportunities  to
enhance shareholder value.

We  are  maintaining  a  tight control of the company's resources, which we consider  adequate  to  support
current levels of expenditure.

FINANCIAL RESULTS

The  unaudited  financial  results for the six months to 31 January 2010 show  a  loss  after  taxation  of
£16,035; loss per share being 0.018p basic.

CASH FLOW AND FUNDING

Cash at bank at 31 January 2010 was £791,210.

The Company's resources adequately cover the Company's routine expenses and costs.

OUTLOOK

The  Board  continues to seek ways, by acquisition, to enhance shareholder value. As no suitable investment
has  yet  been  made we will seek shareholder approval at the next Annual General Meeting,  which  will  be
announced with the full year figures, to further the pursuit of our investment strategy.


N Fetterman
Chairman


15 April 2010

The Directors of the Issuer accept responsibility for this announcement.

FOR FURTHER INFORMATION PLEASE CONTACT:


Hartfield Securities Plc                         020 7251 3762
N Fetterman


Fisher Corporate Plc                             020 7388 7000
Gary Miller

                                                     
                                                     
                                           Profit & Loss Account
                                 for the six months ended 31 January 2010


                                                         Unaudited         Unaudited         Audited
                                                          6 Months         6 Months              
                                                           ended             ended          Year ended
                                                      31 January 2010   31 January 2009        31 July
                                                                                               2009
                                              Note           £                 £                £
                                                                                          
                                                                                          
 Administrative expenses                                      (17,141)          (11,396)        (29,573)
                                                                                                       
 Operating loss                                               (17,141)          (11,396)        (29,573)    
                                                                                                                        
 Other  interest receivable  and  similar                                                              
 income                                                         1,106            12,191          13,946
                                                                                                       
 (Loss)/Profit  on  ordinary   activities                                                              
 before taxation                                              (16,035)              795         (15,627)
                                                                                                       
 Taxation                                                           -              (167)              -
                                                                                                       
 (Loss)/Profit on ordinary activities                                                                  
 after taxation                                               (16,035)              628         (15,627)
                                                                                                       
 (Loss)/ Earnings per share:  basic            2              (0.018p)           0.001p          (0.02p)
                                                                                          

There were no recognised gains or losses other than those recognised in the profit and loss account.

                                                     
                                                     
                                    Balance Sheet as at 31 January 2010


                                                               Unaudited       Unaudited        Audited
                                                                 As at           As at           As at
                                                              31 January       31 January        31July
                                                                 2010             2009            2009
 
                                                                   £               £               £
                                                                                             
 CURRENT ASSETS                                                                              
 Debtors                                                             5,723           6,134           2,513
 Cash at bank and in hand                                          791,210         825,736         819,712
                                                                                                          
                                                                   796,933         831,870         822,225
                                                                                                          
 Creditors: amounts falling due                                                                           
 within one year                                                    (3,195)         (5,842)        (12,452)
                                                                                                          
 NET ASSETS                                                        793,738         826,028         809,773
                                                                                                          
                                                                                                          
 CAPITAL AND RESERVES                                                                                     
                                                                                                          
 Called up share capital                                           885,000         885,000         885,000
 Other reserves                                                     27,200          27,200               
                                                                                                    27,200
 Profit and loss account                                          (118,462)        (86,172)       (102,427)
                                                                                                          
 Equity shareholders' funds                                        793,738         826,028         809,773
                                                                                             
                                                     
                                                     
                                                     
                                     Consolidated Cash Flow Statement
                                 for the six months ended 31 January 2010
                                                     
                                                     
                                                        Unaudited           Unaudited            Audited
                                                         6 Months            6 Months           Year ended
                                                          ended               ended              31 July
                                         Note        31 January 2010     31 January 2009           2009
                                                            £                   £                   £
                                                                                            
Cash     (outflow)    from    operating                                                                      
activities                                  3             (29,608)             (57,320)           (63,068)
                                                                                                             
Returns on investments and servicing of                                                                      
finance
Interest received                                           1,106               12,191             13,946
                                                                                                             
Taxation                                                        -                    -             (2,031)
                                                          _______               _______           _______
Cash (decrease) in the period                                                                               
                                                          (28,502)             (45,129)           (51,153)
                                                           ======               ======             ======
                                                                                            
                                                                                            
Reconciliation of Net Cash Flow to Movement in Net funds                                    
                                                                                            
                                                              £                   £                   £
                                                                                            
(Decrease) in cash in the period                                                                             
                                                           (28,502)            (45,129)           (51,153)
                                                                                                             
                                                           _______             _______            _______
Movement in net funds in the period                        (28,502)            (45,129)           (51,153)
                                                                                                             
Net cash as at the start of the period                     819,712             870,865            870,865
                                                           _______             _______            _______
Net cash as at the end of the period                                                                        
                                                           791,210             825,736            819,712
                                                            ======              ======             ======



                                        NOTES TO THE INTERIM REPORT


1.  Accounting Policies

The  interim  report  has been prepared using accounting policies consistent with  those  set  out  in  the
Company's Annual Report and Accounts for the year ended 31 July 2009.

The interim report for the six months to 31 January 2010 was approved by the Board on 15 April 2010.


2.  Earnings per Share

                                                    Unaudited          Unaudited             Audited
                                                     6 Months          6 Months                 
                                                      ended              ended             Year ended
                                                    31 January        31 January             31 July
                                                       2010              2009                 2009
                                                      Pence              Pence                Pence
                                                                                        
( Loss)/Earnings per share: basic                     (0.018p)            0.001p              (0.02p)
                                                                                        

Loss per ordinary share is based on the Company's loss for the financial period of £16,035 (January 2009  -
profit £628; July 2009- loss £15,627).

The weighted average number of shares used in the calculation is:

                                                      Number            Number               Number
                                                                                        
Shares                                              88,500,000         88,500,000           88,500,000
                                                                                        


3.  Reconciliation of operating loss to net outflow from operating activities

                                                    Unaudited         Unaudited           Audited
                                                     6 Months         6 Months                
                                                      ended             ended            Year ended
                                                    31 January     31 January 2009        31 July
                                                       2010                                 2009
                                                        £                 £                  £
                                                                                     
                                                                                     
Operating loss                                        (17,141)           (11,396)            (29,573)
                                                                                                     
(Increase)/(Decrease) in debtors                       (3,210)            (1,442)              2,179
                                                       
(Decrease) in creditors                                (9,257)           (44,482)            (35,674)
                                                                                                     
Net  outflow from operating activities                (29,608)           (57,320)            (63,068)



4.   The  information for the year ended 31 July 2009 has been extracted from the audited accounts for that
     period,  which  have  been delivered to the Registrar of Companies and received an  unqualified  audit
     opinion  and  did not contain statement under Section 498 to 502 of Companies Act 2006. The  unaudited
     results  for the six months period have been prepared on basis consistent with the Accounting Policies
     disclosed  in the Company's 2009 accounts and do not constitute statutory accounts within the  meaning
     of  Section  435  of  the Companies Act 2006. This financial statement has not been  reviewed  by  the
     Company's auditors.


5.   Copies  of the interim statement are available from the company at its Registered Office, at Finsgate,
     5-7 Cranwood Street, London, EC1V 9EE.

Contact Information

  • Hartfield Securities Plc