Gledhow Investments plc

 

 

Interim results for the six-months ended to 31 March 2023

 

6 June 2023

 

Results

Gledhow Investments plc (“Gledhow” or the “Company”) is pleased to announce its unaudited half year results (“interim results”) for the six-month period from 1 October 2022 to 31 March 2023.  These interim results have not been audited or reviewed by the Company’s auditor.

 

The Company continues to pursue its investment strategy which has the objective of achieving long-term capital growth.

 

The Company had cash of GBP 339,447 at the period end. The Company made a pre-tax loss of GBP 93,873 which included net unrealised losses on investments of GBP 266,960.

 

Despite the uncertain economic environment, the Company is in a strong position, thanks to its strong cash position, and we look forward to being able to make opportunistic investments in small to medium sized undervalued companies as they arise.

 

 

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

 

For further information please contact:

 

Guy Miller                        020 7220 9795    (Gledhow Investments plc)

 

 

 

Profit and Loss Account

for the six-months ended 31 March 2023                                           

 

Continuing operations	Six months to 31 March 2023	Six months to 31 March 2022
	£	£
Turnover
Proceeds from sale of investments	597,990	512,207
Cost of sales (including unrealised gains and losses on investments held for resale)	(667,050)	(775,517)
Gross loss	(69,060)	(263,310)
Administrative expenses	(24,813)	(29,515)
Loss on ordinary activities before tax	(93,873)	(292,825)
Taxation	-	55,637
Loss for the period	(93,873)	(237,188)
Loss per share – Basic (pence)	(0.11)p	(0.25)p

 

Balance Sheet as at 31 March 2023

 

	31 March 2023	31 March 2022
	£	£
Current assets
Investments held for resale	1,104,770	2,209,760
Debtors	162,509	54,080
Cash at bank and in hand	339,447	215,980
Total current assets	1,606,726	2,479,820
Creditors: amounts falling due within one year	(2,446)	(114,507)
Net current assets less current liabilities	1,604,280	2,365,313
Capital and reserves
Called up share capital	975,714	975,714
Share premium account	384,408	384,408
Profit and loss account	194,190	955,223
Other reserve	49,968	49,968
Shareholders' funds - equity interests	1,604,280	2,365,313

 

Notes

1. The interim results together with the related notes set out below have been approved by the board of directors of Gledhow Investments plc.

 

2. The Company’s strategy is to make short to medium term investments in small to medium sized quoted or unquoted companies.

 

3. The financial results detailed above have not been audited or reviewed in accordance with the International Standard on Review Engagements 2410 issued by the Auditing Practices Board.

The principal accounting policies used in preparing these interim accounts are those expected to apply in the Company's Financial Statements for the year ending 30 September 2023 and are unchanged from those disclosed in the Company's Annual Report for the year ended 30 September 2022.

4. Called up share capital includes 9,949,084 Ordinary Shares of 1p each held as treasury shares by the Company.

 

5. Earnings per share – Basic

The earnings per share for the six months ended 31 March 2023 is calculated on the loss on ordinary activities after tax of £93,873 (2022: loss of £237,188) divided by the weighted average number of 87,622,344 (2022: 95,658,143) ordinary shares of 1p each in issue (which excludes the treasury shares held by the Company) during the period.

 

6. The financial information in this report does not constitute Statutory Accounts within the meaning of Section 434 of the Companies Act 2006. The financial statements for the year ended 30 September 2022 have been delivered to the Registrar of Companies and the auditors’ report on those financial statements was unqualified and did not contain a statement made under Section 498(2) or Section 498(3) of the Companies Act 2006.

 

 

 

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