Hartfield Securities Plc
LSE : HASP

April 27, 2009 04:54 ET

Interim Results

                                 HARTFIELD SECURITIES PLC (the "Company")
                                                     
                                              INTERIM RESULTS
                                                     


CHAIRMAN'S STATEMENT

To accompany the accounts for the six months ended 31 January 2009
                                                     
OVERVIEW

The  company  remains  an investment vehicle at present, continuing actively to seek new  opportunities  to
enhance shareholder value.

We  are  maintaining  a  tight control of the company's resources, which we consider  adequate  to  support
current levels of expenditure.

FINANCIAL RESULTS

The unaudited financial results for the six months to 31 January 2009 show a profit after taxation of £628;
earnings per share being 0.001p basic.

CASH FLOW AND FUNDING

Cash at bank at 31 January 2009 was £825,736.

The Company's resources adequately cover the Company's routine expenses and costs.

OUTLOOK

The  Board  continues to seek ways, by acquisition, to enhance shareholder value. As no suitable investment
has  yet  been  made we will seek shareholder approval at the next Annual General Meeting,  which  will  be
announced with the full year figures, to further the pursuit of our investment strategy.


N Fetterman
Chairman


24 April 2009


                                                     
                                                     
HARTFIELD SECURITIES PLC
INTERIM RESULTS

Profit & Loss Account for the six months ended 31 January 2009


                                                         Unaudited         Unaudited          Audited
                                                          6 Months         6 Months             Year 
                                                           ended             ended             ended
                                                      31 January 2009   31 January 2008    31 July 2008
 
                                              Note           £                 £                £
                                                                                          
                                                                                          
 Administrative expenses                                  (11,396)          (9,809)           (70,703)
                                                                                          
 Operating loss                                           (11,396)          (9,809)           (70,703)
                                                                                          
 Other  interest receivable  and  similar                                                 
 income                                                    12,191           21,493             40,456
                                                                                          
 Profit/(loss)  on  ordinary   activities                                                 
 before taxation                                              795           11,684            (30,247)
                                                                                         
 Taxation                                                    (167)          (2,337)            (1,581)
                                                                                          
 Profit/(loss) on ordinary activities                                                     
 after taxation                                               628            9,347            (31,828)
                                                                                          
 Earnings/(loss) per share:  basic             2            0.001p           0.011p            (0.036)p
                                                                                          

There were no recognised gains or losses other than those recognised in the profit and loss account.

                                                     

Balance Sheet as at 31 January 2009


                                                               Unaudited       Unaudited        Audited
                                                                 As at           As at           As at
                                                              31 January       31 January        31July
                                                                 2009             2008            2008
 
                                                                   £               £               £
                                                                                             
 CURRENT ASSETS                                                                              
 Debtors                                                         6,134            4,564          4,692
 Cash at bank and in hand                                      825,736          868,558        870,865
                                                                                             
                                                               831,870          873,122        875,557
                                                                                             
 Creditors: amounts falling due                                                              
 within one year                                                (5,842)          (6,547)       (50,157)
                                                                                             
 NET ASSETS                                                    826,028          866,575        825,400
                                                                                             
                                                                                             
 CAPITAL AND RESERVES                                                                        
                                                                                             
 Called up share capital                                       885,000          885,000        885,000
 Other reserves                                                 27,200           27,200         27,200
 Profit and loss account                                       (86,172)         (45,625)       (86,800)
                                                                                             
 Equity shareholders' funds                                    826,028          866,575        825,400
                                                                                             
                                                     


Consolidated Cash Flow Statement for the six months ended 31 January 2009
                                                     
                                                     
                                                        Unaudited           Unaudited           Audited
                                                         6 Months            6 Months             Year 
                                                          ended               ended               ended
                                          Note       31 January 2009     31 January 2008       31 July 2008
                                                            £                   £                   £
                                                                                            
Cash     (outflow)    from    operating                                                     
activities                                  3           (57,320)             (10,941)            (27,597)
                                                                                            
Returns on investments and servicing of                                                     
finance
Interest received                                        12,191               21,493              40,456
                                                                                            
                                                        _______              _______             _______
Cash increase/(decrease) in the period                                                    
                                                        (45,129)              10,552              12,859
                                                                            
                                                         ======               ======              ======
                                                                                            
                                                                                            
Reconciliation of Net Cash Flow to Movement in Net funds                                    
                                                                                            
                                                            £                   £                   £
                                                                                            
Increase/(decrease)  in  cash  in   the                                                     
period                                                  (45,129)              10,552              12,859
                                                                        
                                                                                            
                                                        _______              _______             _______
Movement in net funds in the period                     (45,129)              10,552              12,859
                                                                             
                                                                                            
Net cash as at the start of the period                  870,865              858,006             858,006
                                                        _______              _______             _______
Net cash as at the end of the period                                                        
                                                        825,736              868,558             870,865
                                                         ======               ======              ======

                                                     

Notes to the Interim Results for the six months ended 31 January 2009


1.  Accounting Policies

The  interim  report  has been prepared using accounting policies consistent with  those  set  out  in  the
Company's Annual Report and Accounts for the year ended 31 July 2008.

The interim report for the six months to 31 January 2009 was approved by the Board on 24 April 2009.


2.  Earnings per Share

                                                    Unaudited          Unaudited             Audited
                                                     6 Months          6 Months               Year 
                                                      ended              ended                ended
                                                    31 January        31 January             31 July
                                                       2009              2008                 2008
                                                      Pence              Pence                Pence
                                                                                        
Earnings/(loss) per share: basic                      0.001p             0.011p              (0.036p)
                                                                                        

Earnings per ordinary share is based on the Company's profit for the financial period of £628 (January 2008
- profit £9,347; July 2008- loss £31,828).

The weighted average number of shares used in the calculation is:

                                                      Number            Number              Number
                                                                                        
Shares                                              88,500,000        88,500,000          88,500,000
                                                                                        


3.  Reconciliation of operating loss to net outflow from operating activities

                                                    Unaudited         Unaudited           Audited
                                                     6 Months         6 Months           Year ended
                                                      ended             ended             31 July
                                                    31 January     31 January 2008          2008
                                                       2009
                                                        £                 £                  £
                                                                                     
                                                                                     
Operating loss                                       (11,396)           (9,809)           (70,703)
                                                                                     
Decrease/(Increase) in debtors                        (1,442)            7,838              7,710
Increase/(Decrease) in creditors                     (44,482)           (8,970)            35,396
                                                                                     
Net  outflow from operating activities               (57,320)          (10,941)           (27,597)
                                                                                     


4.   The  information for the year ended 31 July 2008 has been extracted from the audited accounts for that
     period,  which  have  been delivered to the Registrar of Companies and received an  unqualified  audit
     opinion.   The Interim Results for the six months period ended 31 January 2009 have been  prepared  on
     basis  consistent  with the Accounting Policies disclosed in the Company's 2008 accounts  and  do  not
     constitute  statutory  accounts within the meaning of Section 240 of  the  Companies  Act  1985.  This
     financial  statement  has  not been audited or reviewed by the auditors,  or  extracted  from  audited
     information.

5.   Copies  of the interim statement are available from the company at its Registered Office, at Finsgate,
     5-7 Cranwood Street, London, EC1V 9EE.


The Directors of the Issuer accept responsibility for this announcement.


FOR FURTHER INFORMATION PLEASE CONTACT:


Hartfield Securities Plc                         020 7251 3763
N Fetterman


Fisher Corporate Plc                             020 7388 7000
Gary Miller

Contact Information

  • Hartfield Securities Plc