Source - RNS
RNS Number : 5001T
Levrett PLC
13 October 2017
 

 

Levrett Plc

("Levrett" or the "Company")

 

Interim Results

for the period ended 30 September 2017

 

For further information please contact:

Levrett plc

John Lidgey - Chairman

 

+44 (0)20 7183 4342

 

Whitman Howard Limited

Financial Advisor to Levrett

Nick Lovering

 

+44 (0)20 7659 1234

 

Gable Communications Ltd

John Bick

 

+44 (0)20 7193 7463

 

[email protected]

 

 

CHAIRMAN'S STATEMENT

FOR THE PERIOD ENDED 30 September 2017

 

Introduction

 

These are the results for Levrett Plc for the interim period ended 30 September 2017.

 

The company was incorporated on 10 June 2015 and was admitted to the Official List of the UK Listing Authority on 17 December 2015.

 

Financial review

 

In the six months to 30 September 2017, the Company recorded a loss for the period of £77,504 (a loss per share of 0.08 pence). This includes certain fees in relation to the identification of Nuformix Limited as a possible acquisition target, due diligence and advisory fees related to the transaction.

 

F J Lidgey

 

Chairman

 

13 October 2017


LEVRETT PLC

 

INTERIM STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 30 September 2017

 

 





 



Unaudited

Unaudited

Audited



period ended

period ended

year ended



30 September 2017

30 September 2016

31 March

 2017



£

£

£






Revenue


-

-

-

 

 

Administrative expenses


 

 

(77,504)

 

 

(510,957)

 

 

(685,057)

 

LOSS BEFORE TAX

 

 

 

(77,504)

 

(510,957)

 

(685,057)






Tax


-

-

-






LOSS FOR THE PERIOD


(77,504)

(510,957)

(685,057)






Other comprehensive income/(expense)


-

-

-






TOTAL COMPREHENSIVE EXPENSE

FOR THE PERIOD


 

(77,504)

 

(510,957)

 

(685,057)





 

Loss before tax and total comprehensive expense for the period are all attributable to the equity shareholders of the company.











Loss per share





Basic and diluted (pence)


(0.08) p

(0.53) p

(0.72) p

 

 

 

 

 

 

 

 

 

 

 

 

LEVRETT PLC

 

INTERIM STATEMENT OF FINANCIAL POSITION

FOR THE PERIOD ENDED 30 September 2017

 

 



Unaudited

Unaudited

Audited



30 September

30 September

31 March



2017

2016

   2017


Notes

£

£

£

ASSETS










Current assets





 

Trade and other receivables


142,556

35,310

  13,727

Cash and cash equivalents

 


699

 

111,358

 

    5,895

 



143,255

146,668

  19,622






TOTAL ASSETS


143,255

146,668

  19,622






EQUITY AND LIABILITIES










Equity





Share capital

3

95,750

95,750

  95,750

Share premium account


737,440

734,315

737,440

Share Option Reserve


22,695

22,695

  22,695

Retained earnings


(1,112,981)

(861,376)

(1,035,477)

Total equity attributable to equity holders of the parent






(257,096)

(8,616)

   (179,592)






Current liabilities





Trade and other payables


400,351

155,284

199,214






TOTAL LIABILITIES


400,351

155,284

199,214











TOTAL EQUITY AND LIABILITIES


143,255

146,668

19,622

 


LEVRETT PLC

 

INTERIM STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 30 September 2017

 

 









Share





Share

Premium

Share Option

Retained



capital

account

Reserve

earnings

Total








£

£

£

£

£













On Incorporation

-

-

-

-

-







Total comprehensive expense to date

 

-

 

-

 

-

 

(861,376)

 

(861,376)

Shares issued

  95,750

 734,315

22,695

-

852,760







Unaudited at 30 September 2016

95,750

734,315

22,695

(861,376)

(8,616)













Total comprehensive expense to 31 March 2017

 

-

 

-

 

-

 

(174,101)

 

(174,101)

Grant of share options

-

3,125

-

-

3,125

 

 

 

 

 

 

 

 

 

 

 

 

Audited at 31 March 2017

95,750

737,440

22,695

(1,035,477)

(179,592)







Total comprehensive expense for period

 

-

 

-

 

-

 

(77,504)

 

(77,504)

Shares issued

-

-

-

-

-







Unaudited at 30 September 2017

95,750

737,440

22,695

(1,112,981)

(257,096)







 

All equity is attributable to equity shareholders of the company.

 

Share premium

 

Represents amounts subscribed for share capital in excess of its nominal value, net of directly attributable issue costs.

 


LEVRETT PLC

 

INTERIM STATEMENT OF CASH FLOWS

FOR THE PERIOD ENDED 30 September 2017

 

 

 



Unaudited

Unaudited

Audited



period ended

period ended

Year ended



30 September 2017

30 September 2016

31 March 2017


 

£

£

£






Operating activities





Loss before tax


(77,504)

(510,957)

(685,057)

 

Changes in working capital:





Share Issue, option of warrants


-

-

3,125

(Increase)/ Decrease in trade and other receivables


(128,829)

7,268

28,851

Increase in trade and other payables


201,137

112,834

156,763






Net cash used in operating activities


(5,196)

(390,855)

(496,318)











Financing activities





Share issue


-

-

-






Net cash generated from financing activities


(5,196)

(390,855)

(496,318)






Taxation


-

-

-






Net decrease in cash and cash equivalents


(5,196)

(390,855)

(496,318)






Cash and cash equivalents at the start of the period

5,895

502,213

502,213

Cash and cash equivalents at the end of the period

699

111,358

5,895


LEVRETT PLC

 

NOTES TO THE INTERIM FINANCIAL INFORMATION

FOR THE PERIOD ENDED 30 September 2017

 

 

1          General information

 

Levrett Plc is a publicly listed company incorporated and domiciled in England. The address of its registered office is Suite 31, 2nd Floor, 107 Cheapside, London. EC2V 6DN.

 

        The Company is listed on the Official List.

              

               This interim financial information was approved for issue on 13 October 2017.

 

2         Accounting policies

 

2.1       Basis of preparation

The interim financial information comprises the Statements of Financial Position at 30 September 2017, the Statements of Comprehensive Income, Changes in Equity and Cash Flows for the period ended 30 September 2017 and the related notes of Levrett Plc, (hereinafter referred to as "the interim financial information").

 

The interim financial information has been prepared in accordance with IAS 34, 'Interim Financial Reporting' as adopted by the European Union.  In preparing this information, management have used the accounting policies set by the Company.  The auditors' report on the full statutory accounts for the year ended 31 March 2017 included an Emphasis of Matter paragraph with regards to going concern. The accounts for the year ended 31 March 2017 have been filed with the Registrar of Companies.

 

This interim financial information does not constitute a set of statutory accounts under the requirements of the Companies Act 2006 and is neither audited nor reviewed. 

 

This document (the Interim Statement 2017) will be published on the company's website and will be publicly available from the London Stock Exchange regulatory publications.  The maintenance and integrity of the Levrett Plc website is the responsibility of the directors.  Legislation in the UK governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions.

 

2.2        Going concern

     These financial statements have been prepared on the going concern basis based on the current cash flow projections for the following twelve months.  In particular, the directors have assumed that the acquisition of Nuformix Limited and the placing of ordinary shares will be approved by the Company's shareholders on 13 October 2017.



 

LEVRETT PLC

 

NOTES TO THE INTERIM FINANCIAL INFORMATION

FOR THE PERIOD ENDED 30 September 2017

 

 

3

Share capital




Unaudited

Unaudited

Audited

 






period ended

period ended

year ended

 






30 September

2017

30 September

2016

31 March

2017

 






£

£

£

 


Issued and fully paid







 









95,750,000 Ordinary shares issued of £0.001 each

95,750

95,750

 

95,750





95,750

95,750

95,750



 

On Admission to the Official List, 45,750,000 of the above issued share capital was placed at a price of £0.02 per share with the premium (net of the issue costs) being shown in the share premium account.

 

4

Dividends paid and proposed













Equity dividends on ordinary shares:

 





No interim dividend was paid or is proposed for the period ended 30 September 2017.

 

5

Loss per share

 

The calculations of loss per share are based on the following results and number of shares:

 







Unaudited

Unaudited

Audited

 







period ended

period ended

year ended

 







30 September 2017

30 September 2016

31 March

 2017

 







£

£

£

 










 

Loss for the financial period




(77,504)

(510,957)

(685,057)

 








 

Weighted average number of shares for diluted loss per share




95,750,000

 

 

95,750,000

95,750,000

 






 

 

At 30 September 2017, the number of ordinary shares in issue was 95,750,000.

 

 

 

 

 

 

 

 

 

LEVRETT PLC

 

DIRECTORS AND OFFICERS

 

 

Directors

P D Hughes

F J Lidgey


A H Reeves





Secretary

St James Corporate Services Limited





Company Number

09632100





Registered office

Suite 31

2nd Floor, 107 Cheapside


London


EC2V 6DN


www.levrett.com





Broker & Corporate Broker

Whitman Howard Limited

1st Floor, Connaught House

1-3 Mount Street

London

W1K 3NB

 

 

Auditors

 

 

haysmacintyre


26 Red Lion Square


London


WC1R 4AG





Solicitors

Shakespeare Martineau LLP


One America Square

Crosswall

London

EC3N 2SG





Registrars

Capita Registrars Limited


The Registry

34 Beckenham Road

Beckenham


Kent


BR3 4TU



 

 

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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