Ronaldsway Private Equity Plc

August 31, 2011 12:11 ET

Unaudited results for the year ended 31 March 2011

                                       Ronaldsway Private Equity plc
                                      ("Ronaldsway" or the "Company")
                            Unaudited results for the year ended 31 March 2011

Chairman's statement

I am pleased to present my review of the Company for the year ending 31st March 2011.

As  reported  in  last year's financial statements, the Directors carried out a review  of  the  Company's
activities during the second half of 2010 and they subsequently decided to change the Company's investment
strategy  to  one that is generalist with no specific sector, national or regional focus. In  tandem  with
this change in strategy, the Company resolved to change its name to Ronaldsway Private Equity PLC.

It  is  now  the  Board's  intention that the Company be an active investor  and  acquire  non-controlling
shareholdings or other assets or businesses where it is deemed to be in the best interest of the Company.

The Company currently has investments in the following businesses:

 1.  Pivot Entertainment Plc
 2.  MSGI Inc.
 3.  Silvanus One Plc
 4.  Port Erin Plc (committed funds)

Whilst the Company steps up its efforts to implement its new business model, it has continued to keep  its
costs to a minimum and all its overheads including directors fees have been kept as low as possible.  This
tight  control  of  costs has resulted in lower administrative costs from the point  the  new  board  took
control in December 2010.

Your  board  continues to review investments options and other possible ways to enhance shareholder  value
and will update the market with any further developments as they occur.

I  would  like to thank the board and our shareholders for their continuing support during this period  of


Marcus Yeoman

31 August 2011

Ronaldsway Private Equity plc

FOR THE YEAR ENDED 31 March 2011

                                                                               2011             2010
                                                                     Notes     £                £
Continuing operations                                                          -                -
Discontinued operations                                                         237,105          386,130
Total turnover                                                                 237,105          386,130
COST OF SALES                                                                                   
Discontinued operations                                                         (1,564)          (5,063)
GROSS PROFIT                                                                                    
Discontinued operations                                                        235,541          381,067

ADMINISTRATIVE EXPENSES                                                                         
Continuing operations                                                          (39,631)         (140,416)
Discontinued operations                                                         (231,912)        (463,446)
Total administrative expenses                                                  (271,543)        (603,862)
OPERATING PROFIT/(LOSS)                                                                         
Continuing operations                                                          (39,631)         (140,416)
Discontinued operations                                                         3,629            (82,379)
Total operating loss                                                                  (36,002)     (222,795)
Loss on disposal of discontinued operations                                          (336,437)             -
Finance income                                                                           6,793        22,638
LOSS ON ORDINARY ACTIVITIES BEFORE TAX                                               (365,646)     (200,157)
Tax on ordinary activities                                                                   -        39,055
LOSS ON ORDINARY ACTIVITIES AFTER TAX                                                (365,646)     (161,102)
Loss per share attributable to owners of the Company during the        1       pence            pence
Basic and fully diluted:                                                                        
Continuing operations                                                          (0.27)           (0.63)
Discontinued operations                                                        (2.66)           (0.66)
Total                                                                          (2.93)           (1.29)

Ronaldsway Private Equity plc

AS AT 31 March 2011

                                                                                 2011               2010
                                                                                 £               £
FIXED ASSETS                                                                                       
Tangible assets                                                                  -                 7,702
Investments                                                                      250,826           118,147
                                                                                 250,826           125,849
CURRENT ASSETS                                                                                     
Debtors                                                                          35,285          137.785
Cash at bank                                                                     183,709           853,329
                                                                                 218,994           991,114
Amounts falling due within one year                                              (60,528)          (341,232)
NET CURRENT ASSETS                                                               158,466         649,882
NET ASSETS                                                                       409,292           775,731
CAPITAL AND RESERVES                                                                             
Share capital                                                                    125,000         125,000
Share premium                                                                    648,353         648,353
Equity reserve                                                                   27,753          28,546
Profit and loss account                                                          (391,814)       (26,168)
TOTAL SHAREHOLDERS' FUNDS                                                             409,292         775,731

Notes to the financial information

1.       The  calculation of loss per share is based on the weighted average number of shares of 12,500,000
      (2010: 12,500,000) in issue during the period.

2.    While  the  financial information included in this announcement has been computed in accordance  with
      United  Kingdom  Generally Accepted Accounting Practice (UKGAAP), this announcement does  not  itself
      contain  sufficient information to comply with UKGAAP. The full financial statements of  the  company
      for the year will be posted to shareholders as soon as is practicable.

3.    The  financial  information in this announcement has not been audited or reviewed  by  the  Company's

4.    The Directors have not declared a dividend for the period.

Registered No. 05667178

The Directors of Ronaldsway Private Equity plc accept responsibility for this announcement.


Ronaldsway Private Equity Plc
Marcus Yeoman
+44 797 002 8442

Rivington Street Corporate Finance
Heena Karani
+44 20 7562 3393

Contact Information

  • Ronaldsway Private Equity Plc