BWA Group Plc
LSE : BWAP

July 28, 2011 02:00 ET

Audited Results for the year ended 30 April 2011

                                                                                                         28 July 2011
                                                                                                         GB0033877555


                                                    BWA Group Plc
                                              ("BWA" or the "Company")
                                                          
                                  Audited Results for the year ended 30 April 2011

Chairman's Statement

The Directors of BWA Group plc are pleased to report a profit on ordinary activities for the year to 30 April 2011 of
£73,459.  In addition to this profit, on which no tax is payable, there are unrealised gains on listed investments of
£42,088,  which together increase the Company's shareholders' funds by £116,547 to £368,595, an increase of 46%  over
the  last  year end.  As stated last year, the Directors have been seeking to ensure that there was no diminution  in
the Company's shareholders' funds whilst they seek an appropriate transaction for the Company.

The  profit  in  the  year has been earned from the Company's investing activities and from consultancy  work  to  an
unlisted  company.   In view of the poor returns being offered by most institutions for liquid funds,  the  Directors
have chosen to deploy the Company's resources in investments in the AIM and PLUS markets where suitable opportunities
arise.  Certain small unquoted investments have also been made.

The  profit was achieved after charging the sum of nearly £27,000 of legal, advisory, registrars, printing and  other
fees  in  relation  to  the requisitioning of a special General Meeting by a shareholder whose  proposed  resolutions
failed.  These costs amount to approximately 25% of the total costs incurred by the Company in the year.

The  Directors have continued to review a number of potential acquisitions to achieve the stated objective of a major
investment but, although in depth negotiations have taken place with several vendors, no satisfactory opportunity has
yet been realised.

Accordingly, the Directors have drawn no remuneration.

The  Directors  continue to seek appropriate opportunities for a major investment by the Company  in  line  with  the
investing strategy set out in the Listing document, namely the acquisition of a business which is profitable, is  not
a start up and which is not heavily borrowed.

Since  the year end, the Company has announced an investment of £75,000 by way of a convertible loan stock in  Bridge
Hall  plc, the private holding company of a financial services group which includes Bridge Hall Stockbrokers Limited.
As  at  the  date  of this statement, the Company's principal investments are the holding in Bridge Hall  plc  and  a
holding of 90,000,000 shares in an unquoted company, Zyzygy plc, acquired at a cost of £90,000.

R G Battersby
Chairman
27 July 2011

The Directors of BWA are responsible for the contents of this announcement.

For further information please contact:

BWA Group Plc
Richard Battersby (Non-Executive Chairman)                        07836 238172
St Helens Capital Partners LLP
Mark Anwyl or Duncan Vasey                                                020 7368 6959

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 30 APRIL 2011

                                                                                    2011                       2010
                                                                                      £                         £

TURNOVER                                                                            75,000                      -

Administrative expenses                                                            (65,196)                   10,462
                                                                                                            
OPERATING PROFIT/ (LOSS)                                                             9,804                   (10,462)

Exceptional items                                                                  (26,695)                  (74,277)
                                                                                                            
                                                                                   (16,891)                  (84,739)

Gains on investments                                                                90,350                         -
                                                                                                             
PROFIT / (LOSS) ON ORDINARY ACTIVITIES
BEFORE TAXATION                                                                     73,459                   (84,739)

Tax on loss on ordinary activities                                                      -                          -
                                                                                                            
PROFIT / (LOSS) FOR THE FINANCIAL YEAR                                              73,459                   (84,739)
                                                                                                            

EARNINGS PER SHARE - Basic                                                           0.069p                  (0.187)p
                                                                                                            
                                          - Diluted                                  0.068p                  (0.180)p





STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES FOR THE YEAR ENDED 30 APRIL 2011

                                                                                    2011                     2010
                                                                                       £                       £

PROFIT/ (LOSS) FOR THE FINANCIAL YEAR                                               73,459                 (84,739)

Unrealised gain on revaluation of investments                                       42,088                       -

TOTAL RECOGNISED GAINS AND LOSSES
RELATING TO THE YEAR                                                               115,547                 (84,739)




BALANCE SHEET AT 30 APRIL 2011

                                                                      2011                            2010
                                                            £                   £               £              £
FIXED ASSETS
Available-for- sale investments                                               287,044                            -

CURRENT ASSETS
Debtors                                                     10,660                            22,231
Cash at bank                                                89,924                           248,505

                                                           100,584                           270,736
CREDITORS
Amounts falling due within one year                         19,033                            18,688

NET CURRENT ASSETS                                                             81,551                        252,048

TOTAL ASSETS LESS CURRENT LIABILITIES                                         368,595                        252,048


CAPITAL AND RESERVES
Called up share capital                                                       527,522                        526,753
Share premium                                                                     231                              -
Capital redemption reserve                                                    288,625                        288,625
Available- for-sale revaluation reserve                                        42,088                              -
Profit and loss account                                                      (489,871)                      (563,330)

SHAREHOLDERS' FUNDS                                                           368,595                        252,048

The  financial statements were approved and authorised for issue by the board of directors on 27 July 2010  and  were
signed on its behalf by:
RG Battersby - Director
The Directors do not recommend the payment of a dividend in respect of the year ended 30 April 2011 (2010: £Nil).

Contact Information

  • BWA Group Plc