Silvanus One Plc
LSE : SILP

June 30, 2011 08:40 ET

Half year report

Silvanus One plc
("Silvanus" or the "Company")

Unaudited Interim statement for the six months ended 31 March 2011
                                                       
Chairman's Statement

Following  the  Annual General Meeting held by the Company on 11 August 2010, I joined the Board of the Company.  Mark
Battles  joined the Board on 15 October 2010. During the period, the Board has been considering several  opportunities
in order to enhance Shareholders value and the Board expects to make a further announcement during 2011.

Post Period Events

On 15th April 2011, the Company completed a private placing raising £70,000 for the working capital purposes.

The  Company also announced that it issued a secured loan for £45,000 to SMS Bet Plc (the 'Loan'). The Loan is secured
against  the entire assets of SMS Bet Plc and is redeemable on 15 April 2012. The Loan has been issued to SMS Bet  Plc
in order for the Company to undertake due diligence on SMS Bet Plc.


M Yeoman
Chairman


Dated: 30 June 2011



                                                                                                                      
Unaudited Income Statement
For period ended 31 March 2011

                                                                              6 months         6 months        Year ended
                                                                                    to               to      30 September
                                                                              31 March         31 March              2010
                                                                                  2011             2010
Continuing operations                                                                £                £                 £
                                                                                                                         
Revenue                                                                              -                -                 -
                                                                                                                         
Administrative expenses                                                       (27,519)         (63,403)         (114,833)
                                                                                                                         
Operating loss                                                               ( 27,519)         (63,403)         (114,833)
                                                                                                                         
Finance income                                                                       -                -             2,302
Loss for the period before taxation                                           (27,519)         (63,403)         (112,531)
                                                                                                                         
Taxation                                                                             -                -                 -
                                                                                                                         
Loss for the period from continuing operations                               ( 27,519)         (63,403)         (112,531)
Loss for the period from discontinued operations                                     -        (129,790)         (500,762)
Loss for the period                                                           (27,519)        (193,193)         (613,293)
                                                                                                                         
Loss per share                                                                                                           
From continuing operations: Basic and diluted (pence per share)               ( 0.06p)         ( 0.11p)          ( 0.22p)
From discontinued operations: Basic and diluted (pence per share)                    -          (0.21p)           (0.96p)
From continuing and discontinued operations: Basic and diluted (pence          (0.06p)          (0.32p)           (1.18p)
per share)



Balance Sheet
As at 31 March 2011
                                                                31 March 2011       31 March 2010     31 December 2010
                                                                  (Unaudited)         (Unaudited)            (Audited)
ASSETS                                                                      £                   £                    £
Fixed assets                                                                                                          
Intangible assets                                                           -               8,886                    -
Property, plant and equipment                                               -             427,703                    -
                                                                            -             436,589                    -
                                                                                                                      
Current assets                                                                                                        
Inventories                                                                 -              49,180                    -
Trade and other receivables                                             8,068              47,388                   58
Available for sale financial assets                                         -              53,991                    -
Cash and cash equivalents                                               2,766              56,253               20,322
                                                                       10,834             206,812               20,380
Total assets                                                           10,834             643,401               20,380
                                                                                                                      
EQUITY AND LIABILITIES                                                                                                
Equity  attributable  to  equity  holders  of  the                                                                    
Company
Issued share capital                                                      468                 632                  468
Share premium                                                         397,036             357,264              397,036
Capital redemption reserve                                                404                   -                  404
Share based payment reserve                                                 -               9,802                    -
Difference on exchange on consolidation                                     -              24,869                    -
Accumulated losses                                                  (413,047)            (55,228)            (385,528)
                                                                     (15,139)             337,339               12,380
Non-controlling interests                                                   -              42,719                    -
Total equity                                                         (15,139)             380,058               12,380
                                                                                                                      
Current liabilities                                                                                                   
Trade and other payables                                               25,973             263,343                8,000
                                                                                                                      
                                                                       10,834             643,401               20,380
                                                                                                                      
                                                                                                                      

These financial statements were approved by the Board on 29th June 2011.

The  financial  information disclosed in these financial statements has not been audited or reviewed by the  Company's
auditors and does not constitute statutory accounts.

The Directors of the Company accept responsibility for this announcement.


                                                        --END-

Enquiries:
SILVANUS ONE PLC
Marcus Yeoman
Tel:  +44 797 002 8442

RIVINGTON STREET CORPORATE FINANCE
Eran Zucker
Eran@rs-cf.com
Tel: +44 20 7562 3373

Contact Information

  • Silvanus One Plc