Welney plc
ISDX : WENP

March 31, 2016 11:23 ET

Interim results for the six month period ended 31 December 2015

                                                  Welney Plc
                                          ("Welney" or the "Company")

INTERIM RESULTS FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER 2015

Chairman's Statement

I am pleased to present the interim results of the Company for the six months ended 31 December 2015.


The   last six months have been a time for consolidation, the directors are exploring a number of proposals  to
be presented to our shareholders shortly.

The companies investment in GACR the Nasdaq listed company remains stable.

The  companies  subsidary Metro  Environmental Ltd has  two  options one with an Environment  Agency   approved
tyre   recycling  business   Mitre  Rubber  Ltd  and another with  a  specialist  cleaning  company  Cleanbrite
Facilitation Ltd.    The   Directors  remain in talks with both companies to ascertain  the  viability  of  
proceeding  with these options.

The Company is also in discussions for a new investment, and will report on this to shareholders at the AGM  in
the meantime the Directors will keep costs to a minimum.


Luca Tenuta

Chairman


                                       UNAUDITED PROFIT AND LOSS ACCOUNT
                                  FOR THE 6 MONTHS ENDING 31st DECEMBER 2015
                                                       
                                                       
                                                                           6 months to              6 months to
                                                                            31/12/2015               31/12/2014
                                                                                   GBP                      GBP

Turnover                                                                             -                        -
Cost of Sales                                                                        -                        -
                                                                            ----------               ----------
Gross Profit                                                                         -                        -
Administrative Expenses                                                       (21,709)                 (11,642)
                                                                            ----------               ----------
Operating loss                                                                (21,709)                 (11,642)
Interest payable and similar charges                                           (5,256)                        -
                                                                            ----------               ----------
Loss on ordinary activities                                                   (26,965)                 (11,642)
Profit and loss reserve brought forward                                    (3,296,238)              (3,288,431)
                                                                            ----------               ----------
Profit and loss reserve carried forward                                    (3,323,203)              (3,300,073)
                                                                            ==========               ==========



                                                       
                               UNAUDITED BALANCE SHEET AS AT 31st DECEMBER 2015
                                                       
                                                                                 As At                    As At
                                                                            31/12/2015               31/12/2014
                                                                                   GBP                      GBP
                                                                                                             
Current Assets                                                                                                 
Stocks                                                                               -                        -
Debtors                                                                         71,700                    1,950
Cash at Bank                                                                        59                       23
Investment                                                                       2,675                    2,675
                                                                                74,434                    4,648
                                                                            ----------               ----------
Creditors - Within One Year                                                    (51,439)                 (64,634)
                                                                            ----------               ----------
Net Current Assets/(liabilities)                                                22,995                  (59,986)
Long term liabilities                                                          (95,397)                       -
                                                                            ----------               ----------
Net (liabilities)/assets                                                       (72,402)                 (59,986)
                                                                            ==========               ==========       

Capital and reserves                                                                                           
Called up share capital                                                      1,545,511                1,545,511
Share Premium Reserve                                                        1,562,336                1,562,336
Loan note Reserve                                                               10,714                        -
Share option reserve                                                           132,240                  132,240
Profit and loss reserve                                                     (3,323,203)              (3,300,073)
                                                                            ----------               ----------
Shareholders' deficit                                                          (72,402)                 (59,986)
                                                                            ==========               ==========

The  financial information contained in the interim statement has not been audited or reviewed by the Company's
auditors and does not constitute statutory accounts.

The directors of the Company accept responsibility for the contents of this announcement.

                                                   --ENDS--

Enquiries:

Welney Plc
Luca Tenuta
Tel:  07830 182501

Contact Information

  • Welney plc