Guild Acquisitions plc
LSE : GAQO

September 30, 2015 10:26 ET

Interim report for the half year ended 30 June 2015

                                                                                                 30 September 2015 

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

                                   Interim report for the half year ended 30 June 2015

Co-Chairman's statement

In the half year to 30 June 2015, Guild Acquisitions plc ("Guild" or "the Company") reports a loss of GBP 13,723 
(2014: GBP 41,676).  

Administrative expenses for the period were GBP 19,773 (2014: GBP 21,418). 

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

In the period under review the Directors have looked at a small number of prospects for a transaction but 
currently none have been deemed suitable. 

Cash remains very tight and the Directors will continue to monitor the situation of cash flow and the Company's 
obligations. 

In the event that a suitable transaction is not found for the Company by the year end the Directors will consider 
recommendations to shareholders for the future of the Company, which could include a delisting. 

The Company remains quoted on the ISDX Growth Market. 

Geoff Hunt
Chairman
28 September 2015

                                                                            
Profit & loss account                                                       
                             6 months to 30  6 months to 30     12 months to
                                  June 2015       June 2014 31 December 2014
                                  Unaudited       Unaudited          Audited
                                       GBP             GBP              GBP 
Turnover                                                                    

Unrealised loss                       (700)        (20,258)         (35,072)
                           -------------------------------------------------
Gross loss                            (700)        (20,258)         (35,072)

Administrative expenses            (19,773)        (21,418)         (43,236)
                           -------------------------------------------------
Operating loss                     (20,473)        (41,676)         (78,308)

Investment Income                        -               -           13,266 
                           
Interest income                          -               -                - 

Loss on ordinary activities                                                 
before and after taxation         (20,473)        (41,676)         (65,042)
                                                                            
                           -------------------------------------------------
                                                                            
Loss per share                (0.01) pence    (0.02) pence     (0.03) pence 
                           -------------------------------------------------
                                                                           

Balance sheet                                                              
                            At 30 June 2015 At 30 June 2014  At 31 December
                                                                       2014
                                  Unaudited       Unaudited         Audited
                                       GBP             GBP             GBP 
Current assets                                                             
Debtors                             11,850          11,850           3,274 
Investments                        188,483         215,108         189,183 
Cash at bank                         6,982          10,625          20,884 
                            -----------------------------------------------
                                   207,315         237,583         213,341 
                                                                           
Amounts falling due within                                                 
one year                          (46,687)        (33,115)        (32,240)
                             
                            -----------------------------------------------
Net current assets                 160,628         204,468         181,101 
                                                                           
Creditors                                                                  
Amounts falling due over one                                               
year                                    -               -               - 
                            -----------------------------------------------
Total assets less current                                                  
liabilities                       160,628         204,468         181,101 

                            -----------------------------------------------
                                                                           
Capital and reserves                                                       
Called up share capital            498,760         498,760         498,760 
Share premium account              458,882         458,882         458,882 
Profit and loss account           (797,014)       (753,174)       (776,541)
                                                                           
                            -----------------------------------------------
Equity shareholders' funds         160,628         204,468         181,101 

                            -----------------------------------------------
Net Asset Value per share       0.08 pence      0.10 pence      0.09 pence 



Interim report notes

1.  Interim report 

    The information relates to the 6 month period from 1 January to 30 June
    2015.
 
    The interim report was approved by the Directors on 28 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
        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 2015.

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 
mail@bridgewaters.co.im or from the ISDX Growth Market website at http://www.isdx.com/.

Contact Details:

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

ISDX CORPORATE ADVISER:
Alexander David Securities Limited
David Scott - Corporate Finance
James Dewhurst - Institutional Sales
Telephone: +44 (0) 20 7448 9820
http://www.ad-securities.com
49 Queen Victoria Street, London EC4N 4SA

Contact Information

  • Guild Acquisitions plc