REG - Adalan Ventures PLC - Half-year Financial Report

Adalan VenturesAnnouncement

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RNS Number : 0406N  Adalan Ventures PLC  29 December 2025

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the United States or to or for the account or benefit of persons in the United
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sale would violate the relevant securities laws of such jurisdiction.

 

For Immediate Release

29(th) 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  Six months ended 30

                                                                                        Unaudited                      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     31 December 2023

                                   2024        Audited

                                   Unaudited   £

                                   £

 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                           Share Premium                                 Accumulated      Total

Equity
                                    £                                       £                                            Deficit

                £
                                                                                                                         £

                                                   Deferred Share Capital                  Share    options Reserve

                                                   £                                       £
 Balance as at 1 January 2024       513,475

                                                   4,157,775                6,910,128      119,640                       (12,275,849)     (574,831)
 Issue of ordinary shares           -              -                        -              -                             -                -
 Comprehensive loss for the period  -              -                        -              -                             (208,175)        (208,175)
 Share-based payments               -              -                        -                      -                     -                -
 Balance as at 30 June 2024         513,475                                 6,910,128                                    (12,484,024)     (783,006)

                                                   4,157,775                               119,640

 

 

Interim Condensed Consolidated Statement of Cash Flows

For the six months ended 30 June

 

 

 

 

                                                          Six months ended 30  Six months

                                                          June 2024            ended 30

                                                          Unaudited            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)
                                                          58,116               35,468

 Cash and cash equivalents at the beginning of the year
 Effects of Foreign exchange                              1,000                -
 Cash and cash equivalents at the end of the period       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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