Guild Acquisitions plc
LSE : GAQO

September 13, 2012 10:22 ET

Half Yearly Report

                                                 


                                                 
                                                                                 13 September 2012
                                                 
                                      GUILD ACQUISITIONS PLC
                                       ("Guild" or "the Company")
                                                 
                           Interim report - half year ended 30 June 2012
                                                 
Co-Chairman's statement

In the half year to 30 June 2012, Guild Acquisitions plc reports a loss of £1,428 (2011: £19,594).
Administrative expenses for the period were £25,196 (2011: £25,967), offset by an unrealised
profit of £23,566 on investments.
Following comments in my last statement PLUS-SX, the quotations and listings arm of PLUS Markets
Group was taken over by ICAP plc on 21 June 2012. The Company continues to trade on PLUS.

Shaun Dowling
Co-Chairman
7 September 2012

Profit & loss account

                                                        6 months to   6 months to   12 months to
                                                       30 June 2012     30 June      31 December
                                                                          2011          2011
                                                                            
                                                         Unaudited     Unaudited       Audited
                                                             £             £              £
                                                                                          
Turnover                                                     -             -                -
                                                                                    
Cost of sales-exceptional item                           (23,566)       (6,373)        11,418
                                                                            
Gross Profit (Loss)                                       23,566         6,373        (11,418)

Administrative expenses                                   25,196         25,967        50,186

Operating profit (loss)                                   (1,630)       (19,594)      (61,604)

Interest income                                             202            -              -
                                                                                          
Profit (Loss) on ordinary activities before               (1,428)       (19,594)      (61,604)
and after taxation

                                                                                          
                                                                                          
Profit (Loss) per share                                 (0.00) pence  (0.01)         (0.04) pence
                                                                      pence


Balance sheet

                                                     At 30 June 2012     At 30 June       At 31
                                                                            2011        December
                                                                                          2011
                                                        Unaudited        Unaudited       Audited
                                                            £                £              £
                                                                                            
                                                                                            
                                                                                            
Current assets                                                                              
Debtors                                                   10,404           8,780          1,200
Investments                                              341,319          305,544        317,753
Cash at bank                                             172,019          259,826        216,045
                                                         523,742          574,150        535,492

Creditors                                                                                   
Amounts falling due within one year                      (4,242)          (11,212)      (14,564)

Net current assets                                       519,500          562,938        520,928

Creditors                                                                                   
Amounts falling due over one year                        (66,000)         (62,000)      (66,000)
                                                                                            
Total assets less current liabilities                    453,500          500,938        454,928

                                                                                            

                                                                                            
Capital and reserves                                                                        
Called up share capital                                    474,760        474,760        474,760
Share premium account                                       422,882       422,882        422,882
Other reserves                                              4,000          8,000          4,000
Profit and loss account                                   (448,142)     (404,704)       (446,714)
                                                                                            
Equity shareholders' funds                                 453,500        500,938        454,928

                                                                                       
                                                                                       
Net Asset Value per share                               0.24 pence      0.27 pence     0.24 pence

                                                                                       
                                                                                            
                                                                                            

Interim report notes

1.      Interim report
    The information relates to the 6 month period from 1 January to 30 June 2012
    The interim report was approved by the Directors on 7th September 2012
    The interim report is unaudited.
    
2.      Basis of accounting
      a.       The  report has been prepared in accordance with United Kingdom Generally  Accepted
        Accounting Practice (United Kingdom Accounting Standards and applicable law).  The information
        does not constitute statutory accounts within the meaning of section 240 of the Companies Act
        1985.
      b.      These interim financial statements are the financial statements of the Company.
c.      The financial statements are prepared under the historical cost convention and are in
accordance with applicable accounting standards.
      d.      Investments
           i.      Investments are held as current asset trade investments and are valued at the lower of
                cost and net realisable value.  Foreign denomination loans are translated into sterling at the
                rate of exchange ruling at the balance sheet date.  For those investments listed on a recognised
                market, net realisable value is taken as mid-market price. Where the directors consider the market
                price of a company is likely to irreversibly fall, additional write downs in valuation to below
                mid-market price are made.
           
           ii.     The net realisable value of certain investments is not readily determinable by reference
                to a quoted market price. The directors have therefore made their own assessment of the net
                realisable value and adjusted the carrying value of the investment where it is considered less
                than cost. This estimate requires estimation techniques, which are reliant upon their experience
                and expertise.
           
           iii.    These current asset trade investments are held as part of an investment portfolio and no
                investment is made as a media through which the Company carries on its business. Investments which
                may otherwise be classified as Associates, do not therefore fall within this classification for
                accounting purposes.
        
       
      e.      The Company will report again for the full year to 31 December 2012.
    
Copies  of  this  interim report are available free of charge by application  in  writing  to  the
Company  Secretary  at  26  Victoria  Street,  Douglas,  Isle  of  Man,  IM1  2LE,  by  email   to
mail@bridgewaters.co.im or from the PLUS website at www.plusmarketsgroup.com.
Contact Details:

Stephen Corran
Guild Acquisitions plc:
Tel: 01624 676716
Email: scorran@bridgewaters.co.im


Fiona Kinghorn
Alexander David Securities Limited
45 Moorfields
London EC2Y 9AE
Tel: 020 7448 9800

Contact Information

  • Guild Acquisitions plc