Guild Acquisitions plc
LSE : GAQO

May 29, 2015 12:23 ET

Annual Results for the year ended 31 December 2014

29 May 2015

GUILD ACQUISITIONS PLC

("Guild" or "the Company")

Annual Results for the year ended 31 December 2014

CHAIRMAN'S REPORT

In the year to 31 December 2014, the company made a loss of GBP 65,043 (2013: GBP 177,391), principally due to ongoing
administrative expenses.

In my report to shareholders last year, I stated that the company cannot continue to suffer repeated losses. The Board
has made various attempts during the year to find satisfactory corporate opportunities, which would be in the interests
of shareholders. To date, none of these discussions have been successful. However, during the last two weeks of May this
year, further discussions have been held with various parties regarding additional funding and potential investment
opportunities. These are still ongoing at the time of going to print and we will update shareholders as these
opportunities are reviewed and as appropriate, update shareholders.

Meanwhile, Starvest plc has kindly agreed to defer repayment of the loan of GBP 20,000 until further notice.

SHAUN DOWLING

S Dowling
Co- Chairman

Date: 29 May 2015

REPORT OF THE DIRECTORS

The directors present their report with the financial statements of the company for the year ended 31 December 2014.

REVIEW OF BUSINESS
The results for the year and financial position of the company are as shown in the annexed financial statements.

A more detailed review of the business is given in the Co-Chairman's Report. Given the straight forward nature of the
business, the company's directors are of the opinion that a further analysis using Key Performance Indicators is not
necessary for an understanding of the development, performance or position of the business.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of an investment trading company established to
grow early stage small and medium sized companies by injecting seed capital and expertise with a view to assisting those
companies to raise further funds on the capital market for further development.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2014.

FUTURE DEVELOPMENTS
These are discussed fully in the Co-Chairman's Report.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2014 to the date of this
report.

G Hunt
S Dowling
S Corran

CORPORATE GOVERNANCE
The directors recognise the importance of sound corporate governance and intend to observe the requirements of the Code
of Best Practice, as published by the Committee on Corporate Governance (commonly known as the "Combined Code") to the
extent they consider appropriate in light of the Company's size, stage of development and resources. At present, due to
the size of the Company, audit, remuneration and risk management issues will be addressed by the Board supported by
Members of the Advisory Board. As the Company grows the Board will consider establishing an audit and management
committee and will consider developing further policies and procedures which reflect the principles of good governance
and the Combined Code.

PRINCIPAL RISKS AND UNCERTAINTIES
Guild Acquisitions plc's strategy is to provide seed capital into start-up or early stage companies, to assist their
management in developing their businesses and to help them raise further funds when needed in the capital markets. Such
businesses have the potential to create the greatest uplift in investment value. But, likewise, have the greatest
downside risks. Most start-up companies either fail or run out of cash, so any investment company like Guild
Acquisitions plc needs a star in its investment portfolio to offset any failures.

We refer to our financial risk management objectives and policies in note 11 to the accounts.

SUBSTANTIAL INTERESTS
On 31 December 2014 the following were registered as being interested in 3% or more of the Company's ordinary share
capital:


                        31 December 2014
                    Ordinary Shares of 0.1p        Percentage of
                              Each             Issued Share Capital
R B Rowan                 117,983,333                  56.2%
Starvest PLC               46,666,666                  22.2%
S Dowling                  21,250,000                  10.1%



STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable
law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors
have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting
Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the
financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the
company and of the profit or loss of the company for that period. In preparing these financial statements, the directors
are required to:



--  select suitable accounting policies and then apply them consistently;
--  make judgements and accounting estimates that are reasonable and
    prudent;
--  state whether applicable accounting standards have been followed,
    subject to any material departures disclosed and explained in the
    financial statements;
--  prepare the financial statements on the going concern basis unless it is
    inappropriate to presume that the company will continue in business.



The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the
company's transactions and disclose with reasonable accuracy at any time the financial position of the company and
enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for
safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud
and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies
Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have
taken as a director in order to make himself aware of any relevant audit information and to establish that the company's
auditors are aware of that information.

AUDITORS
M R Salvage Limited will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

G Hunt - Director

Date: 29 May 2015

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2014


                                                        2014          2013
                                           Notes         GBP           GBP

TURNOVER                                              24,377             -

Cost of sales                                         46,184       130,873
                                                  -----------   -----------

GROSS LOSS                                           (21,807)     (130,873)

Administrative expenses                               41,533        46,518
                                                  -----------   -----------

OPERATING LOSS                               3       (63,340)     (177,391)

Interest payable and similar charges         4         1,703             -
                                                  -----------   -----------

LOSS ON ORDINARY ACTIVITIES
BEFORE TAXATION                                      (65,043)     (177,391)

Tax on loss on ordinary activities           5             -             -
                                                  -----------   -----------

LOSS FOR THE FINANCIAL YEAR                          (65,043)     (177,391)
                                                  -----------   -----------
                                                  -----------   -----------


Earnings per share expressed
in pence per share:                          6
Basic                                                  -0.03         -0.09
Diluted                                                -0.03         -0.09
                                                  -----------   -----------



BALANCE SHEET

31 DECEMBER 2014

                                                     2014            2013
                                   Notes              GBP             GBP
CURRENT ASSETS
Debtors                              7              3,274           3,150
Investments                          8            189,183         235,366
Cash at bank                                       20,884          18,081
                                            -------------   -------------

                                                  213,341         256,597
CREDITORS
Amounts falling due within one
 year                                9             32,240          10,453
                                            -------------   -------------

NET CURRENT ASSETS                                181,101         246,144
                                            -------------   -------------

TOTAL ASSETS LESS CURRENT
LIABILITIES                                       181,101         246,144
                                            -------------   -------------
                                            -------------   -------------


CAPITAL AND RESERVES
Called up share capital             12            498,760         498,760
Share premium                       13            458,882         458,882
Profit and loss account             13          (776,541)       (711,498)
                                            -------------   -------------

SHAREHOLDERS' FUNDS                 17            181,101         246,144
                                            -------------   -------------
                                            -------------   -------------




CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMEBER 2013

                                                    2014            2013
                                 Notes               GBP             GBP
Net cash (outflow)/inflow from
 operating activities              1            (17,197)           3,826

Taxation                                               -            -360

Capital expenditure and
 financial investment              2                   -          -6,666
                                           -------------   -------------

                                                (17,197)         (3,200)
Financing                          2              20,000        (10,000)
                                           -------------   -------------

Increase/(decrease) in cash in
 the period                                        2,803        (13,200)
                                           -------------   -------------
                                           -------------   -------------

Reconciliation of net cash
 flow to movement in net funds     3

Increase/(decrease) in cash in
 the period                                        2,803         -13,200
Cash (inflow)/outflow from
 (increase)/decrease in debt                    (20,000)          10,000
                                             -----------    ------------

Change in net funds resulting
 from cash flows                                (17,197)         (3,200)

Share issue as debt settlement                         -         60,000
                                              -----------     -----------

Movement in net funds in the period              (17,197)       56,800
Net funds at 1 January                            18,081       -38,719
                                              -----------   -----------

Net funds at 31 December                              884        18,081
                                              -----------   -----------
                                              -----------   -----------


The directors of Guild Acquisitions Plc accept responsibility for this announcement.

Copies of this annual report are available free of charge by application in writing to the Company Secretary at 4th
Floor, Queen Victoria House, 41-43 Victoria Street, Douglas, Isle of Man, IM1 2LF, by email to mail@bridgewaters.co.im
or from the ICAP website at www.icap.com.


CORPORATE ADVISER CONTACT DETAILS:


Alexander David Securities Limited
David Scott - Chief Executive Officer
Telephone: +44 (0) 20 7448 9820
45 Queen Victoria Street, London, EC4N 4SA

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