Source - PRN


HELLENIC CAPITAL PLC                                                                                                                            

DIRECTOR’S STATEMENT

FOR THE PERIOD ENDED 30 JUNE 2016

I hereby announce the interim results for the Company.

The Company made a pre-tax loss of £8,920 (period ended 30 June 2015 - £6,212).

Cash at bank at the end of 30 June 2016 was £82,600 (year ended 31 December 2015 - £95,885).

The Company will complete a transaction as soon as possible and remains focused on businesses or companies that are considered to have the potential to produce a favourable return for shareholders in both the short and medium terms.

Gavin Burnell
Director

The Director of the issuer accepts responsibility for this announcement.


CONTACT DETAILS:

Hellenic Capital plc
Gavin Burnell           Tel: 01732 366561

Keith, Bayley, Rogers & Co. Limited
Hugh Oram               Tel: 0207 464 4090



HELLENIC CAPITAL PLC                          
CONDENSED STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 30 JUNE 2016

Period to
30 June
2016
Unaudited
Period to
30 June
2015
Unaudited
Note
£ £
Revenue - -
Operating expenses (8,920) (6,212)
_______ _______
Loss from operations 1 (8,920) (6,212)
_______ _______
Loss before taxation (8,920) (6,212)
Income tax expense - -
_______ _______
Loss for the period attributable to members (8,920) (6,212)
_______ _______
Other comprehensive income - -
_______ _______
Total comprehensive loss for the period attributable to members (8,920) (6,212)
_______ _______
Loss per share (pence) 2 (0.00) (0.00)
_______ _______


HELLENIC CAPITAL PLC                                    
CONDENSED STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2016

As at As at
30 June 31 December
2016 2015
Unaudited Audited
Assets
Current assets
Trade and other receivables 1,413 3,040
Cash and cash equivalents 82,600 95,885
_______ _______
Total assets 84,013 98,925
_______ _______
Equity and liabilities
Equity
Share capital 61,890 61,890
Share premium account 173,544 173,544
Retained loss (154,671) (145,751)
________ ________
80,763 89,683
Current liabilities
Trade and other payables 3,250 9,242
_______ _______
Total equity and liabilities 84,013 98,925
_______ _______


HELLENIC CAPITAL PLC
CONDENSED STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 30 JUNE 2016

Share Share Retained
Capital premium loss Total
£ £ £ £
As at 1 January 2015 61,890 173,544 (147,325) 88,109
______ _______ _______ _______
Total comprehensive loss for period - - (6,212) (6,212)
______ _______ _______ _______
As at 30 June 2015 61,890 173,544 (153,537) 81,897
______ _______ _______ _______

   

Share Share Retained
Capital premium loss Total
£ £ £ £
As at 1 January 2016 61,890 173,544 (145,751) 89,683
______ _______ _______ _______
Total comprehensive loss for period - - (8,920) (8,920)
______ _______ _______ _______
As at 30 June 2016 61,890 173,544 (154,671) 80,763
______ _______ _______ _______



HELLENIC CAPITAL PLC
CONDENSED CASH FLOW STATEMENT

FOR THE PERIOD ENDED 30 JUNE 2016

Period to Period to Period to
30 June 30 June 30 June
2016 2015 2014
Unaudited Unaudited Unaudited
£ £ £
Cash flows from operating activities
Operating loss (8,920) (6,212) (30,296)
_______ _______ _______
Movements in working capital:
Decrease in trade and other receivables 1,627 2,677 3,110
Decrease in trade and other payables (5,992) (2,998) 1,531
_______ _______ _______
Cash used in operations (13,285) (6,533) (25,655)
Corporation tax paid - - -
________ ________ ________
Net cash used in operating activities (13,285) (6,533) (25,655)
________ ________ ________
Decrease in cash and cash equivalents (13,285) (6,533) (25,655)
________ ________ ________
Cash and cash equivalents at the beginning of the period 95,885 92,839 132,314
________ ________ ________
Cash and cash equivalents at the end of the period 82,600 86,306 106,659
________ ________ ________


HELLENIC CAPITAL PLC
ACCOUNTING POLICIES

FOR THE PERIOD ENDED 30 JUNE 2016

1.   Financial Information

The financial information set out above does not constitute statutory accounts within the meaning of Section 434 of the Companies Act 2006. It has been prepared on a going concern basis in accordance with the recognition and measurement criteria of the International Financial Reporting Standards (IFRS) as adopted by the European Union.

The accounting policies used in the preparation of this set of condensed interim financial statements are consistent with those set out in the Company’s annual financial statements for the year ended 31 December 2015 and those that will be used in the preparation of the Financial Statements for the year ended 31 December 2016.  Statutory accounts for the year ended 31 December 2015 were approved by the Board of Directors on 31 May 2016 and delivered to the Registrar of Companies. The report of the auditor on those Financial Statements was unqualified. 

       The financial information for the period ended 30 June 2016 has not been audited or reviewed. As permitted, the Company has chosen not to adopt IAS 34 “Interim Financial Statements” in preparing this interim financial information.

      Going Concern

The Director, having made appropriate enquiries, considers that adequate resources exist for the Company to continue in operational existence for the foreseeable future and that, therefore, it is appropriate to adopt the going concern basis in preparing the condensed interim financial statements for the period ended 30 June 2016.

      Changes in Accounting Policy and Disclosures

      New and amended standards adopted by the Company

There are no IFRSs or IFRIC interpretations that are effective for the first time for the financial period beginning 1 January 2016 and relevant to the Company.

2.   Earnings per share

      The calculation of basic earnings per share is based on the loss attributable to ordinary Shareholders divided by the weighted average of ordinary shares in issue being 61,889,500 during the period.  This results in a loss per share of nil (2015: nil).  Diluted earnings per share equates to basic earnings per share due to there being no dilutive shares in issue.

3.   Capital Commitments

      There were no capital commitments authorised by the Director or contracted for at 30 June 2016.

4.   Director’s Remuneration

The Director will not be remunerated until such a time as a substantial investment or acquisition has been made.