RNS Number : 0406N
Adalan Ventures PLC
29 December 2025
Not for release or distribution, directly or indirectly, within, into or in the United States or to or for the account or benefit of persons in the United States, Australia, Canada, Japan or any other jurisdiction where such offer or sale would violate the relevant securities laws of such jurisdiction.
For Immediate Release
29th December 2025
Adalan Ventures Plc
("Adalan" or the "Company")
Unaudited Interim results for 6 months ended 30 June 2024
Adalan Ventures plc (the 'Company' or 'Adalan'), announces its unaudited interim results for the 6 month period ended 30 June 2024.
The results follow at the bottom of this announcement.
Enquiries:
Adalan Ventures Plc
Siro Cicconi
Tel: +44 (0) 73 9377 9849
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
Adalan Ventures plc
Interim Condensed Consolidated Statement of profit or loss and Other Comprehensive Income for the six months ended 30 June
Notes
Six months ended 30 June 2024 Unaudited £
Six months ended 30 June 2023 Unaudited £
Staff Costs
(114,464)
-
Operating expenses
(93,711)
(10,000)
Loss before income tax
(208,175)
(10,000)
Income tax expense
-
Net loss
(208,175)
(10,000)
Net other comprehensive income that may be reclassified to profit or loss
Foreign exchange differences arising on translation into presentation currency
-
-
Total comprehensive loss
(208,175)
(10,000)
Adalan Ventures plc
Interim Condensed Consolidated Statement of financial position as at
Notes
30 June 2024 Unaudited £
31 December 2023 Audited £
Assets:
Cash and cash equivalents
6,664
58,116
Total Assets
6,664
58,116
Liabilities
Other liabilities
(789,670)
(633,947)
Total liabilities
(789,670)
(633,947)
Net Assets
(783,006)
(574,831)
Equity
Capital and reserves:
Share capital
8
513,475
513,475
Deferred Share Capital
4,157,775
4,157,775
Share Premium
8
6,910,128
6,910,128
Share options Reserve
119,640
119,640
Accumulated deficit
(12,484,024)
(12,275,849)
Total equity
(783,006)
(574,831)
Total liabilities and equity
6,664
58,116
Interim Condensed Statement of changes in shareholders' equity (Unaudited) for the six months ended 30 June 2024 (unaudited)
Share capital £
Deferred Share Capital £
Share Premium £
Share options Reserve £
Accumulated Deficit £
Total Equity £
Balance as at 1 January 2024
513,475
4,157,775
6,910,128
119,640
(12,275,849)
(574,831)
Issue of ordinaryshares
-
-
-
-
-
-
Comprehensive loss for the period
-
-
-
-
(208,175)
(208,175)
Share-based payments
-
-
-
-
-
-
Balance as at 30 June 2024
513,475
4,157,775
6,910,128
119,640
(12,484,024)
(783,006)
Interim Condensed Consolidated Statement of Cash Flows
For the six months ended 30 June
Six months ended 30 June 2024 Unaudited £
Six months ended 30 June 2023 Unaudited £
Cash flows from operating activities
Loss for the period
(208,175)
(10,000)
Cash from operations
(208,175)
(10,000)
Net (increase)/decrease in operating assets
Change in receivables
-
Change in payables
155,723
4,000
Net change in working capital
155,723
4,000
Net cash flows from operating activities
(52,452))
(6,000)
Net change in cash and cash equivalents
(52,452)
(6,000)
Cash and cash equivalents at the beginning of the year
58,116
35,468
Effects of Foreign exchange
1,000
-
Cash and cash equivalents at the end of theperiod
6,664
29,468
2. Basis of preparation
The condensed consolidated interim financial statements have been prepared using accounting policies consistent with International Financial Reporting Standards and in accordance with International Accounting Standard 34 Interim Financial Reporting. The condensed interim financial statements should be read in conjunction with the annual financial statements for the year ended 31 December 2022, which have been prepared in accordance with International Financial Reporting Standards (IFRS).
The condensed consolidated interim financial statements set out above do not constitute statutory accounts within the meaning of the Companies Act 2006. They have been prepared on a going concern basis in accordance with the recognition and measurement criteria of International Financial Reporting Standards (IFRS). Statutory financial statements for the year ended 31 December 2023 were approved by the Board of Directors on 11 February 2025 and delivered to the Registrar of Companies. The report of the auditors on those financial statements was unqualified.
The condensed consolidated interim financial statements of the Company have not been audited or reviewed by the Company's auditor, RPG Crouch Chapman LLP.
Going concern
The Financial Statements have been prepared on a going concern basis. The Directors consider that the Company requires additional funding in order to deliver on its plan to find and acquire an operating business and undertake a reverse take over. The Directors are of the view that its current cash reserves along with any funding that it will seek to raise would provide sufficient funds to undertake its operating activities for the foreseeable future. Should the company be unsuccessful in raising additional capital then there is a significant risk that it has the ability to continue as a going concern. The company has currently reduced its cash expenditure to a minimum.
Please refer to the going concern note in the annual report for the year ended 31 December 2023 for further information.
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