Eligere Investments Plc
LSE : ELI

August 04, 2014 12:16 ET

Final Results to 31 March 2014

ELIGERE INVESTMENTS PLC

FINAL RESULTS FOR THE YEAR ENDED 31 MARCH 2014


CHAIRMAN'S STATEMENT


I  am  pleased  to  present  the results of Eligere Investments Plc (the "Company")  and  its  subsidiaries
(together the "Group) for the period from formation on 6 March 2013 to 31 March 2014.

This  has  been a period of development and consolidation of our operations.  We seek to establish  trading
partners  in  environmental  consultancy and environmental auditing companies on  the  fast  growing  green
market.  We have arrangements in place in the developed world and have entered into a joint venture with  a
locally registered Mozambique Company.

We  have  the  capacity, through our experienced team of consultants, to expand our existing operations  in
carbon auditing services.  We have serviced both the world's First Carbon Neutral F1 Grand Prix Racing team
and also the First Carbon Positive Football Club.

We  consider  that  with, our existing track record and experienced consultants, we are in  a  position  to
rapidly expand the Group's activities.


G Truman
Chairman

4 August 2014


Enquiries:

Eligere Investments PLC                           
Gary Truman                                       020 7025 8053
Executive Director                                

GXG Corporate Adviser:                            
Alfred Henry Corporate Finance                    020 7251 3762
Jon Isaacs and Nick Michaels

The Directors accept responsibility for this statement.


CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 MARCH 2014
                                                                                            £
                                                                                                           
                                                                                        
Sales                                                                                    319,310
Cost of sales                                                                           (272,663)
                                                                                         -------
Gross profit                                                                              46,647
                                                                                        
Administrative expenses                                                                 (262,006)
                                                                                         -------
Operating loss                                                                          (215,359)
                                                                                        
Finance expenses                                                                         (11,815)
                                                                                         -------
Loss before taxation                                                                    (227,174)
                                                                                        
Taxation                                                                                       -
                                                                                         -------
Loss for the period                                                                     (227,174)
                                                                                         =======
                                                                                        
Since  there  is no other comprehensive income, the loss for the period is the same as the total comprehensive
loss for the period.
                                                                                        
Attributable to:                                                                        
Equity holders of the Company                                                           (227,174)
                                                                                         =======
                                                                                        
Loss per share attributable to the equity holders of the Company during the year (pence) was:
                                                                                        
Basic & Diluted from continuing operations                                               (0.54p)
                                                                                         =======
                                                                                        
                                                                                        
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2014

                                                                                           £
ASSETS                                                                                         
Non-current assets                                                                         
Goodwill                                                                                      -
Tangible fixed assets                                                                         -
                                                                                        -------
                                                                                              -
                                                                                        -------
Current assets                                                                           
Trade and other receivables                                                              22,798
Cash at bank and in hand                                                                  8,487
                                                                                        -------
                                                                                         31,285
                                                                                        -------
LIABILITIES                                                                              
Current liabilities                                                                      
Trade and other payables                                                               (129,574)
                                                                                        -------
Net current assets                                                                     (129,574)
                                                                                        -------
                                                                                         
Net current (liabilities)/assets                                                        (98,289)
                                                                                         
Non-current liabilities                                                                  
Financial liabilities - borrowings and                                                 
interest bearing loans                                                                  (49,336)
                                                                                        -------
                                                                                       (147,625)
                                                                                        =======

EQUITY                                                                                   
Capital and reserves attributable to equity holders of the Company;
                                                                                         
Share capital                                                                            52,282
Loan note equity reserve                                                                 27,267
Retained losses                                                                        (227,174)
                                                                                        -------
                                                                                       (147,625)
                                                                                        =======

                                                     
CONSOLIDATED STATEMENT OF CASH FLOW
FOR THE PEROD ENDED 31 MARCH 2014
                                                                                                  
                                                                                           £
                                                                                            
Cash flows from operating activities before                                                 
changes in working capital and provisions
                                                                                            
Operating loss                                                                         (215,359)
(Increase) in trade and other receivables                                               (22,798)
Increase in trade and other payables                                                    129,574
Depreciation                                                                              1,260
Impairment                                                                                2,520
Impairment of goodwill                                                                    4,550
Interest payable                                                                        (11,815)
                                                                                        -------
Cash absorbed by operating activities                                                  (112,068)
                                                                                        -------
                                                                                            
Cash flows from financing activities                                                        
                                                                                            
Purchase of tangible assets                                                              (3,780)
                                                                                        -------
Net cash from financing activities                                                       (3,780)
                                                                                        -------
                                                                                            
Cash flows from financing activities                                                        
Net proceeds from issue of convertible loan note                                            
                                                                                         78,885
Issue of share capital                                                                   45,450
                                                                                        -------
Net cash from financing activities                                                      124,335
                                                                                        -------
                                                                                            
Netincrease in cash and                                                                     
cash equivalents                                                                          8,487
                                                                                            
Cash and cash equivalents at 6 March 2013                                                     -
                                                                                        -------
Cash and cash equivalents at 31 March 2014                                                8,487
                                                                                        =======
                                                                                            


Statutory Information
        
The  financial information set out above does not constitute the Group's statutory accounts for the  year
ended 31 March 2014 but is derived from those accounts.
        
The  financial information has been extracted from the statutory accounts of Eligere Investments Plc  and
is  presented  using the same accounting policies, which have not yet been filed with  the  Registrar  of
companies,  but  on which the auditors, Jeffreys Henry LLP, gave an unqualified report on  31  July  2014
which included the following paragraph:-

"Emphasis of matter - Going concern
In forming our opinion on the financial statements, which is not qualified, we have considered the adequacy
of  the  disclosures made in Note 19 to the financial statements concerning the Group's ability to continue
as a going concern.

The  validity  of  the  going  concern  basis  is dependent on the  assumptions  underlying  the  financial
projections being accurate, the financial projections being substantially realised and the Group's  ability
to raise sufficient new capital to the extent that may be required.

These  conditions indicate the existence of a material uncertainty which may cast significant  doubt  about
the Group's ability to continue as a going concern. The financial statements do not include the adjustments
that would result if the Group was unable to continue as a going concern."
        
The  full  Annual  Report of Eligere Investments Plc for year ended 28 February 2014  is  available  upon
request from the Company's registered office at Finsgate, 5-7 Cranwood Street, London, EC1V 9EE.

Contact Information

  • Eligere Investments Plc