Chalkstream investment Company plc
LSE : CHLK

July 01, 2013 03:00 ET

Half Yearly Report


CHALKSTREAM INVESTMENT COMPANY PLC

INTERIM ACCOUNTS FOR THE PERIOD FROM INCORPORATION ON 29 NOVEMBER 2012 TO 31 MAY 2013


CHAIRMAN'S STATEMENT

Overview

Chalkstream Investment Company Plc (the "Company") was established as an Investment Vehicle and its  first
day of dealing on the ISDX Growth Market was 17 May 2013.

The Company assets remain wholly in cash at present, and we continue to actively seek new opportunities to
enhance shareholder value, as set out in the ISDX Admission Document.

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

The Directors will not be remunerated until a substantial investment or acquisition has been completed.

The  Directors  will  use their experience to identify appropriate targets, carry out  due  diligence  and
negotiate acquisitions and investments.

We  are  looking  to  invest  in or acquire small and medium size enterprises with  strong  management  and
significant growth opportunities focused on the service sector in the UK.  The Directors will also seek  to
target businesses that would benefit from having access to the capital markets.

Cash Flow and Funding

The Company has utilised some of its initial capital to complete its admission on to the ISDX exchange.  As
at today's date the Company has approximately GBP £741,000 of cash.

Outlook

The Directors continue to look for potential investment opportunities and they will keep investors informed
of developments.


Robert Ware
Chairman

1st July 2013

The Directors of the Issuer accept responsibility for this announcement.

FOR FURTHER INFORMATION PLEASE CONTACT:

Chalkstream Investment Company PLC
Dominic Buch
Tel:  +44 (0) 20 7025 8053

Corporate Advisor
Alfred Henry Corporate Finance Limited
Jon Isaacs and Nick Michaels
Tel:  +44 (0) 20 7251 3762

Corporate Broker
Peterhouse Corporate Finance Limited
Guy Miller and Peter Greensmith
Tel:  +44 (0) 20 7220 9796


PROFIT AND LOSS ACCOUNT

                                                                                                 Unaudited
                                                                                                 Period to
                                                                                                 31 May 13
                                                   Note                                                  £
                                                                                            
Administrative expenses                                                                     
                                                                                                   (4,295)
Share based payments                                                                              (16,286)
Admission expenses                                                                                (47,705)
                                                                                                    -----
Operating loss                                                                                    (68,286)
                                                                                            
Interest receivable                                                                                  353
                                                                                                    -----
Loss on ordinary activities before taxation                                                       (67,933)
                                                                                            
Tax on loss on ordinary activities                                                                     -
                                                                                                    -----
Retained loss for the financial period                                                            (67,933)
                                                                                                    -----
                                                                                                     
                                                                                                    Pence
                                                                                            
Loss per share                                       2                                             (0.025)
                                                                                                    -----
                                                                                            


BALANCE SHEET

                                                                                                Unaudited
                                                                                                    As at
                                                                                                   31 May
                                                                                                     2013
                                                                                                        £
                                                                                          
Current Assets                                                                               
Debtors                                                                                            13,839
Cash at bank and in hand                                                                          741,054
                                                                                                   ------
                                                                                                  754,893
Creditors                                                                                    
Amounts falling due within one year                                                               (1,540)
                                                                                                   ------
Net assets                                                                                        753,353
                                                                                                   ------
Capital and reserves                                                                         
Called up share capital                                                                           805,000
Share based payments reserve                                                                       16,286
Profit and loss account                                                                           (67,933)
                                                                                                   ------
Equity shareholders' funds                                                                        753,353
                                                                                                   ------



CASH FLOW STATEMENT FOR THE PERIOD FROM INCORPORATION ON 29 NOVEMBER 2012 TO 31 MAY 2013 

                                                                                               Unaudited
                                                                                               Period to
                                                                                                  31 May
                                                                                                    2013
                                                                                 Note                  £
                                                                                         
Cash outflow from operating activities                                             3             (64,299)
                                                                                         
Returns on investment and servicing of finance                                           
Interest received                                                                                    353
                                                                                         
Financing activities                                                                     
Issue of shares                                                                                  805,000
                                                                                                  ------
Cash increase in the period                                                                      741,054
                                                                                                  ------
                                                                                         
                                                                                          
NOTES TO THE INTERIM ACCOUNTS


1.    ACCOUNTING POLICIES

      Basis of preparation

      The interim report has been prepared in accordance with applicable United Kingdom Accounting
      Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied
      consistently (except as otherwise stated).
      
      The   financial  information  included  in  this  interim  financial  report  for  the  period   from
      incorporation  on 29 November 2012 to 31 May 2013 does not constitute statutory accounts  as  defined
      in  section  240  of  the Companies Act 1985, is unaudited and is not subject  to  a  review  by  the
      Company's   auditors.   As  this  financial  information  covers  the  period  from   the   Company's
      incorporation, no comparative information is shown.
      
      The  Directors  are  of  the opinion that the financial information should be  prepared  on  a  going
      concern basis, in the light of the Company's financial resources.
      
      The  interim report for the period from incorporation on 29 November 2012 to 31 May 2013 was approved
      by the Board on 1 July 2013
      

            
2.      LOSS PER SHARE
                                                                                                    Unaudited
                                                                                                    Period to
                                                                                                       31 May
                                                                                                         2013
                                                                                                        Pence
                                                                                            
       Loss per ordinary share                                                              
       - basic                                                                                         (0.025)
                                                                                                        -----
                                                                                            
                                                                                                            £
                                                                                            
       Loss for period                                                                                (67,933)
                                                                                                        -----
                                                                                            
                                                                                            
       Weighted number of shares in issue:                                                                    
                                                                                                       Number
       - basic                                                                                    269,158,098
                                                                                                   ----------
                                                                                            
                                                                                            


3.      RECONCILIATION OF OPERATING LOSS TO NET OUTFLOW FROM OPERATING ACTIVITIES


                                                                                                   Unaudited
                                                                                                   Period to
                                                                                                      31 May
                                                                                                        2013
                                                                                                           £
                                                                                           
    Operating loss                                                                                   (68,286)
    Share based payments                                                                              16,286
    Net increase in debtors                                                                          (13,839)
    Net increase in creditors                                                                          1,540
                                                                                                       -----
    Net cash outflow from operating activities                                                       (64,299)
                                                                                                       -----


4.  The  total issued share capital of the Company on incorporation was £1 comprising 1 ordinary  share  of
    £1  each.   On  27 February 2013 the share capital was sub-divided into 1,000 ordinary shares  of  0.1p
    each.

    On  27  February  2013,  the  company allotted 474,999,000 new ordinary  shares  of  0.1p  each  for  a
    consideration  of  0.1p per share.  On 17 May 2013 a further 330,000,000 new ordinary  shares  of  0.1p
    each were allotted for a consideration of 0.1p per share.

5.  Share based payments
    The  measurement requirements of FRS20 have been implemented in respect of the warrants on 10%  of  the
    enlarged share capital issued to the Directors on 29 April 2013. The credit recognised for share  based
    payments made during the period is £16,286.

    In  addition on 29 April 2013 the Company granted to each of the Directors, a warrant to subscribe  for
    up  to  5%  of the issued share capital of the Company following the next reverse takeover (as referred
    to  in  the  ISDX  Growth  Market Rules) or material investment by the  Company.  The  price  for  such
    additional  Ordinary Shares will be the higher of £0.0013 per Ordinary Share or the price per  Ordinary
    Share at which such reverse takeover or material investment is undertaken.

6.  The Company had no controlling party at 31 May 2013.

7.  Copies  of  this interim statement are available from the Company at its registered office at Finsgate,
    5-7 Cranwood Street, London EC1V 9EE.

Contact Information

  • Chalkstream investment Company plc