Ronaldsway Private Equity Plc

LSE : RPEP


December 07, 2012 06:43 ET

Half Yearly Report

                                                  Ronaldsway Private Equity plc
                                                       Interim statement
                                           for the six months ended 30 September 2012
                                                           
Chairman's Statement

I am pleased to present my review of the Company, for the period ended 30 September 2012.

The Company has been actively seeking a merger or an acquisition, during this period. Although negotiations have taken
place with various potential transactions, none of these proposals have come to fruition.

In addition to the cash held on the balance sheet at the period end, your Company held investments in the following:-

Fast Bet Solutions Plc (1,538,461 ordinary shares)
MSGI Inc. ($125,000 loan note)
Port Erin Biopharma Investments Ltd (500,000 warrants)

Since September 2012, the Company made a £35,000 equity investment into Elevate Platform Ltd ("Elevate"), which  is  a
low cost and effective online recruitment software company for sourcing, managing and hiring contractors without using
recruitment agents. Following this investment, the Company owns 2.2% of Elevate.

I  would  like to thank the Board, our advisors, and our shareholders for their continuing support during  the  period
under review.

Dated: 7 December 2012

                                                                                                                    
Income statement


                                                         Notes        6 months to         6 months to        Year ended
                                                                     30 September        30 September          31 March
                                                                             2012                2011              2012
                                                                      (Unaudited)         (Unaudited)         (Audited)
                                                                                £                  £                  £
Administrative expenses                                                                                                  
Continuing operations                                                   ( 21,127)           ( 22,429)         ( 44,262)
Operating (loss)/profit                                                 ( 21,127)           ( 22,429)         ( 44,262)
                                                                                                                        
Loss on disposal of investments                                                -                   -         ( 161,038)
Finance income                                                                 -                   -             19,573
Loss on ordinary activities before tax                                  ( 21,127)           ( 22,429)        ( 185,727)
                                                                                                                         
Tax on ordinary activities                                                      -                  -                  -
Loss on ordinary activities after tax                                   ( 21,127)           ( 22,429)        ( 185,727)
                                                                                                                         
Loss per share  (Pence)                                             2                                
  Basic and fully diluted:                                                                                               
Continuing and total operations                                         ( 0.17p)             ( 0.18p)          ( 1.48p)


Balance Sheet

                                                                 30 September        30 September        31 March 2012
                                                                         2012                2011
                                                                  (Unaudited)         (Unaudited)            (Audited)
                                                                     £                   £                   £
Fixed assets                                                                                                          
Investments                                                            49,945             266,198               49,945
                                                                       49,945             266,198               49,945
Current assets                                                                                                        
Debtors                                                                13,971              10,048              144,040
Cash at bank                                                          126,448              40,167                9,742
                                                                      140,419              50,215              153,782
Creditors                                                                                                             
Amounts falling due within one year                                 ( 28,620)           ( 47,452)            ( 20,521)
Net current assets                                                    111,799               2,763              133,261
                                                                                                                      
Net assets                                                            161,744             268,961              183,206
                                                                                                                      
Capital and reserves                                                                                                  
Called up share capital                                               127,631             125,000              127,631
Share premium                                                         658,222             648,353              658,222
Equity reserve                                                         27,753              27,753               27,753
Revaluation reserve                                                 ( 52,859)          ( 117,901)            ( 52,859)
Profit and loss account                                            ( 599,003)          ( 414,244)           ( 577,541)
                                                                      161,744             268,961              183,206
                                                                                                                      
                                                                                                                      
                                                                                                                      
Notes to the interim financial statement
    
1.      Basis of preparation

The  financial  statements  for the 6 months to 30 September 2012 are unaudited and have not been reviewed by the Company's auditor and do  not  constitute  statutory accounts  as  defined in section 434 of the Companies Act 2006.  The financial information for the year  ended  31 March  2012 is extracted from the audited statutory accounts for the year then ended which have been delivered to the Registrar of companies. The audit report on these accounts was unqualified and did not contain a statement under Section 498(2) or (3) of the Companies Act 2006.
    In  the  opinion of the Directors the financial information for the 6 months to 30 September 2012 presents fairly
    the  financial  position, results of operations and cash flows for the period in  conformity  with  International
    Financial  Reporting Standards which have been consistently applied. The interim statement  for  the  six  months
    ended 30 September 2012 was approved by the Board of Directors on 4 December 2012.

    
    The financial information for the six months to 30 September 2012 has been prepared on the basis of the accounting
    policies set out in the full annual accounts of the Company for the year ended 31 March 2012.
    
    
2.      Earnings per share

     The  calculation  of  the  basic  earnings  per  share is based on the  earnings  attributable  to  the  ordinary
     shareholders divided by the weighted average number of shares in issue during the period.
     
     The  weighted  average number of equity shares in issue is 12,763,158 (30 September 2011 - 12,500,000,  31  March
     2012  -  12,581,248) and the loss after tax, is £21,127 (30 September 2011 - loss £22,429, 31 March 2012  -  loss
     £185,727).

     
    

Contact Information

  • Ronaldsway Private Equity Plc