Guild Acquisitions plc

September 25, 2014 08:53 ET

Interim report for the half year ended 30 June 2014

                                                                                          25 September 2014

                                                 GUILD ACQUISITIONS PLC
                                               ("Guild" or "the Company")

                                   Interim report for the half year ended 30 June 2014

Co-Chairman's statement

In the half year to 30 June 2014, Guild Acquisitions plc reports a loss of £41,676 (2013: £37,438).  

Administrative expenses for the period were £21,418 (2013: £23,788).  The balance of losses is largely
attributable to changes in the exchange rates. 

The Directors remain committed to finding a new direction for the Company. 

The Company remains quoted on the ISDX Growth Market. 

Shaun Dowling 
25 September 2014 

Profit & loss account
                                                                12 months to
                            6 months to 30      6 months to      31 December
                                 June 2014     30 June 2013             2013
                                 Unaudited        Unaudited          Audited
                                         £                £                £
Unrealised loss                   (20,258)         (13,650)        (130,873)
Gross loss                        (20,258)         (13,650)        (130,873)
Administrative expenses           (21,418)         (23,788)         (46,518)
Operating loss                    (41,676)         (37,438)        (177,391)
Interest income                          -                -                -
Loss on ordinary                                                            
 activities before and                                                      
 after taxation                   (41,676)         (37,438)        (177,391)
Loss per share                (0.02) pence     (0.02) pence     (0.09) pence

Balance sheet 

                                   At 30           At 30               At 31
                               June 2014       June 2013       December 2013
                               Unaudited       Unaudited             Audited
                                       £               £                   £
Current assets                                                              
                                  11,850          11,850               3,150
Investments                      215,108         352,590             235,366
Cash at bank                      10,625          37,654              18,081
                                 237,583         402,094             256,597
Amounts falling due                                                         
 within one year                 (33,115)        (75,997)            (10,453)
Net current assets               204,468         326,097             246,144
Amounts falling due over                                                    
 one year                              -               -                   -
Total assets less current                                                   
 liabilities                     204,468         326,097             246,144
Capital and reserves                                                        
Called up share capital          498,760         474,760             498,760
Share premium account            458,882         422,882             458,882
Profit and loss account         (753,174)       (571,545)           (711,498)
Equity shareholders'                                                        
 funds                           204,468         326,097             246,144
Net Asset Value per share     0.10 pence      0.17 pence          0.12 pence

Interim report notes

1.  Interim report 

    The information relates to the 6 month period from 1 January to 30 June 2014 
    The interim report was approved by the Directors on 25 September 2014 
    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
    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 2014. 

The Directors of Guild Acquisitions plc accept responsibility for this announcement.

Copies of this interim report are available free of charge by application in writing to 
the Company Secretary at 4th Floor, Queen Victoria House, 41-43 Victoria Street, Douglas, 
Isle of Man, IM1 2LF, by email to or from the ISDX Growth Market 
website at
Contact Details:

Stephen Corran
Guild Acquisitions plc: 
Tel: 01624 676716

David Scott 
Alexander David Securities Limited 
49 Queen Victoria Street, 
London, EC4N 4SA
Tel: 020 7448 9820

Contact Information

  • Guild Acquisitions plc