Gledhow
Investments plc
(“Gledhow” or the
“Company”)
First
Half Results to 31 March 2024
30 May 2024
Results
Gledhow Investments plc is pleased
to announce its unaudited half year results (“interim results”) for
the six-month period from 1 October 2023 to 31 March
2024.
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 217,231
at the period end. The Company made a pre-tax loss of GBP 115,510
which included net unrealised losses on investments of GBP
163,885.
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 2024
Continuing
operations
|
|
Six months to 31
March 2024
|
Six months to 31
March 2023
|
|
|
£
|
£
|
|
Turnover
|
|
|
|
Proceeds from sale of
investments
|
282,127
|
597,990
|
|
Cost of sales (including unrealised
gains and losses on investments held for resale)
|
(370,033)
|
(667,050)
|
|
|
|
|
|
Gross
(loss)
|
(87,906)
|
(69,060)
|
|
|
|
|
|
Administrative expenses
|
(27,604)
|
(24,813)
|
|
|
|
|
|
(Loss) on ordinary activities
before tax
|
(115,510)
|
(93,873)
|
|
Taxation
|
-
|
-
|
|
|
|
|
|
(Loss) for the period
|
(115,510)
|
(93,873)
|
|
|
|
|
|
(Loss)/earnings per share – Basic
(pence)
|
(0.13)p
|
(0.11)p
|
Balance Sheet as
at 31 March 2024
|
|
2024
|
2023
|
|
|
£
|
£
|
|
Current
assets
|
|
|
|
Investments held for
resale
|
1,082,261
|
1,104,770
|
|
Debtors
|
-
|
162,509
|
|
Cash at bank and in hand
|
217,231
|
339,447
|
|
|
|
|
|
Total current
assets
|
1,299,492
|
1,606,726
|
|
|
|
|
|
Creditors:
amounts falling due within one year
|
(2,589)
|
(2,446)
|
|
|
|
|
|
Net current
assets
less current liabilities
|
1,296,903
|
1,604,280
|
|
|
|
|
|
Capital and
reserves
|
|
|
|
Called up share capital
|
975,714
|
975,714
|
|
Share premium account
|
384,408
|
384,408
|
|
Profit and loss account
|
(63,219)
|
194,190
|
|
Other reserve
|
-
|
49,968
|
|
|
|
|
|
|
|
|
|
Shareholders'
funds
- equity
interests
|
1,296,903
|
1,604,280
|
|
|
|
|
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 2024 and are unchanged from those
disclosed in the Company’s Annual Report for the year ended 30
September 2023.
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 2024 is calculated on the loss on ordinary
activities after tax of £115,510 (2023: loss of £93,873) divided by
the weighted average number of 87,622,344 (2023: 87,622,344
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 2023
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.
.