Gledhow Investments plc (GDH) Audited Results to 30 September
2022 and Notice of AGM 01-Feb-2023 / 07:00 GMT/BST Dissemination of
a Regulatory Announcement that contains inside information in
accordance with the Market Abuse Regulation (MAR), transmitted by
EQS Group. The issuer is solely responsible for the content of this
announcement.
-----------------------------------------------------------------------------------------------------------------------
1 February 2023
Gledhow Investments plc
("Gledhow" or the "Company")
AQSE: GDH
Audited Final Results to 30 September 2022
Notice of Annual General Meeting The Company is pleased to
present the Annual Report and Financial Statements for the year
ended 30 September 2022. The directors continue to follow the same
investment strategy, namely to invest in small to medium sized
undervalued or fast growing companies, with the investment
objective of achieving long term capital growth in excess of the
FTSE All Share Index. The Company had cash of GBP111,937 at the
year-end (2021: GBP524,643). The pre-tax loss was GBP1,064,259
(2021: pre-tax profit of GBP841,890). During the year, on 25
February 2022, the Company bought back 9,949,084 Ordinary Shares to
be held in treasury at 1.75 pence per share In what proved to be a
difficult year in the stock market, the book value of the Company's
investments declined by GBP920,657. The Company has continued to
build up positions in AIM, LSE and Aquis Exchange traded companies,
including those companies at early stages of development, and some
pre-IPO investments. Of the companies in the portfolio at the year
end, the Company held approximately 36% in AQSE Growth Market
companies, approximately 56% in AIM and LSE quoted/listed
companies, and a small percentage in private companies, having
invested on a pre-IPO basis. The Directors caution that there is a
historically perceived lack of liquidity generally in AQSE Growth
Market traded companies and that these investments may not be
readily realisable into cash. The Company does not recommend the
payment of a dividend for the year end to 30 September 2022. The
Notice of Annual General Meeting is set out at the back of the
annual report and accounts, and can be found at the end of this
announcement. The full audited financial results to 30 September
2022 will shortly be availably on the Company website at http://
www.gledhowinvestments.com/ G R Miller
Managing Director
31 January 2023
The Directors of the Company accept responsibility for the
contents of this announcement.
Enquiries:
Guy Miller: + 44 (0) 7220 9795 (Gledhow Investments plc)
Statement of Comprehensive Income for the year ended 30 September
2022
2022 2021
GBP GBP
Turnover 1,017,032 1,909,593
Cost of sales (2,010,355) (948,341)
Gross (loss)/profit
(993,323) 961,252
Administrative expenses (70,936) (119,632)
(Loss)/profit before taxation
(1,064,259) 841,890
Taxation 159,911 (159,959)
(Loss)/profit for the financial year
(904,348) 681,931
Total comprehensive (loss)/income for the year (904,348) 681,931
Basic (loss)/profit per share (pence) (0.99)p 1.05p
Diluted (loss)/profit per share (pence) (0.99)p 1.05p
The income statement has been prepared on the basis that all
operations are continuing operations. Statement of Financial
Position as at 30 September 2022
2022 2021
GBP GBP
Current assets
Investments held for resale 1,440,043 2,356,250
Debtors 165,059 108,456
Cash at bank and in hand 111,937 524,643
1,717,039 2,989,349
Creditors: amounts falling due within one year (18,886) (212,713)
Net current assets and total assets less current liabilities
1,698,153 2,776,636
Capital and reserves
Called up share capital
975,714 975,714
Share premium account 384,408 384,408
Profit and loss account 288,063 1,366,546
Other reserve 49,968 49,968
Shareholders' funds - equity interests
1,698,153 2,776,636
The financial statements were approved by the Board and
authorised for issue on 31 January 2023. G R Miller
Director
Company No. 03848331 Statement of Changes in Equity for the year
ended 30 September 2022
Profit and loss
Share Share reserve Other
capital premium reserve
GBP Total
GBP GBP GBP
GBP
Balance at 1 October 2020 490,000 71,122 640,513 94,070 1,295,705
Year ended 30 September 2021:
Profit for the year - - 681,931 - 681,931
Total comprehensive income for the year
-
- 681,931 - 681,931
Credit to equity for equity settled share based
payments -
- -
Transfer of share-based payment reserve on lapsed - 44,102 - (44,102)
warrants
-
- -
Share issue 485,714
364,286 - - 850,000
Share issue expenses - (51,000) - - (51,000)
Balance at 30 September 2021 975,714
384,408 1,366,546 49,968 2,776,636
Year ended 30 September 2022:
Loss for the year -
- (904,348) - (904,348)
Total comprehensive loss for the year
-
- (904,348) - (904,348)
Credit to equity for equity settled share based
payments
-
- - - -
Share buy back - held in treasury - - (174,135) - (174,135)
Balance at 30 September 2022 975,714
384,408 288,063 49,968 1,698,153
Statement of Cash Flows for the year ended 30 September 2022
2022 2021
GBP GBP
Cash flows from operating activities
Cash used in operations (1,448) (254,684)
Taxation paid (160,010) (96,460)
Net cash outflow from operating activities
(161,458) (351,144)
Investing activities
Proceeds from disposal of investments 1,017,032 1,909,593
Purchase of investments (1,094,145) (2,215,202)
Dividends received - -
Net cash used in investing activities
(77,113) (305,609)
Financing activities
Net proceeds from issue of shares - 799,000
Share buy back - held in treasury (174,135) -
Net cash (used in)/generated from financing activities
(174,135) 799,000
Net (decrease)/increase in cash and cash equivalents
(412,706) 142,247
Cash and cash equivalents at beginning of year 524,643 382,396
Cash and cash equivalents at end of year
111,937 524,643
Relating to:
Cash at bank and in hand
111,937 524,743
Notice of Annual General Meeting
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