A2D Funding II PLC Annual Financial Report March 2018 (1883W)
30 Juli 2018 - 2:14PM
UK Regulatory
TIDMA2D2
RNS Number : 1883W
A2D Funding II PLC
30 July 2018
A2D FUNDING II PLC
AUDITED RESULTS FOR THE PERIOD ENDING 31 March 2018
A2D Funding II plc (LSE: A2D2) announces its audited results for
the year ended 31 March 2018
The following is an extract from the Company's financial
statements which will be posted to shareholders on or around 30
July 2018.
Company summary
A2D Funding II plc ("the Company" or "Issuer") is a special
purpose company established for the purpose of issuing Bonds
(including further bonds issued in accordance with the Conditions)
and lending the proceeds thereof to A2Domionion Housing Group
Limited ("A2Dominion") or one or more of its subsidiaries.
Business review
On 30 September 2014 the Company issued GBP150,000,000 4.50%
Guaranteed Bonds due 30 September 2026. The principal amount raised
from issuing the retail bonds was on-lent to A2Dominon.
Principal risks and uncertainties
The principal risk and uncertainty for the Company is primarily
credit risk and includes the correct and timely receipt of interest
and principal on the loan due from A2Dominion. During the current
and prior period, all such amounts were paid on their due
dates.
The directors have considered the nature and structure of the
Company and are satisfied that there is sufficient capital in
relation to the business activities of the Company and levels of
planned financial performance.
Events after the balance sheet date
There have been no reportable events since 31 March 2018.
Related party transactions
The Company has taken advantage of the exemption under section
33 of FRS102, not to disclose transactions with other group
companies consolidated by A2Dominion Housing Group Limited.
On behalf of the Board
Law Debenture Corporate Services Limited (Company Secretary)
30 July 2018
STATEMENT OF COMPREHENSIVE INCOME
For the year ended 31 March 2018
Year ended Year ended
31 March 2018 31 March 2017
GBP000 GBP000
------------------------------- --------------- ---------------
Interest receivable and
similar income 6,826 6,817
Interest payable and similar
charges (6,824) (6,815)
-------------------------------- --------------- ---------------
Gross profit 2 2
Other operating income 50 45
Administrative expenses (50) (45)
-------------------------------- --------------- ---------------
Profit on ordinary activities
before taxation 2 2
Taxation (1) -
------------------------------- --------------- ---------------
Profit for the period 1 2
-------------------------------- --------------- ---------------
There are no recognised gains or losses other than the result
for the period stated above. Accordingly, no statement of total
recognised gains and losses is given.
STATEMENT OF FINANCIAL POSITION
As at 31 March 2018
2018 2017
GBP000 GBP000
-------------------------------- ---------- ----------
Financial assets
Loans and receivables 149,453 149,378
--------------------------------- ---------- ----------
Current assets
Debtors: Amounts falling
due within one year 31 32
Cash at bank 41 39
72 71
Financial liabilities: Amounts
falling due within one year (54) (54)
--------------------------------- ---------- ----------
Net current assets 18 17
--------------------------------- ---------- ----------
Total assets less current
liabilities 149,471 149,395
Financial liabilities: Amounts
falling due after more than
one year (149,453) (149,378)
--------------------------------- ---------- ----------
Net assets 18 17
--------------------------------- ---------- ----------
Capital and reserves
Called up share capital 13 13
Profit and loss account 5 4
--------------------------------- ---------- ----------
Shareholders' funds 18 17
--------------------------------- ---------- ----------
STATEMENT OF CHANGES IN EQUITY
For the year ended 31 March 2018
Retained income
Share capital Total
GBP000 GBP000 GBP000
Total equity as at 31 March2016 13 2 15
Profit for the period - 2 2
Total equity as at 31 March
2017 13 4 17
Profit for the year - 1 1
---------------------------------- ---------------- ---------------- --------
Total equity as at 31 March
2018 13 5 18
---------------------------------- ---------------- ---------------- --------
STATEMENT OF CASH FLOWS
For the period ended 31 March 2018
Year ended Year ended
31 March 31 March
2018 2017
GBP000 GBP000
Operating activities
Profit on ordinary activities
before taxation 1 2
Interest received 6,750 6,750
Interest paid (6,750) (6,750)
Decrease in debtors 1 9
Increase in creditors - 5
-------------------------------------------- ----------- -----------
Cash flow from operating
activities 2 16
-------------------------------------------- ----------- -----------
Cash flow from investing - -
activities
Cash flow from financing - -
activities-
Net increase in cash and
cash equivalents 2 16
Cash and cash equivalent at beginning of
the year 39 23
-------------------------------------------- ----------- -----------
Cash and cash equivalent at end of the
year 41 39
-------------------------------------------- ----------- -----------
Directors' responsibility statement
We confirm that to the best of our knowledge:
(a) the financial statements, prepared in accordance with the
applicable set of accounting standards, give a true and fair view
of the assets, liabilities, financial position and profit or loss
of the Issuer and the undertakings included in the consolidation
taken as a whole; and
(b) the management report includes a fair review of the
development and performance of the business and the position of the
issuer and the undertakings included in the consolidation taken as
a whole, together with a description of the principal risks and
uncertainties that they face.
On behalf of the board
Mark Filer
Representing L.D.C. Corporate Director No. 3
30 July 2018
- ENDS-
For further information contact:
Law Debenture Corporate Services Limited (Company Secretary) +44
20 7606 5453
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
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Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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