REG - Adalan Ventures PLC - Half-year Financial Report

Adalan VenturesAnnouncement

31/12/2025 07:00

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RNS Number : 2045N  Adalan Ventures PLC  30 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

31(st) December 2025

Adalan Ventures Plc

("Adalan" or the "Company")

Unaudited Interim results for 6 months ended 30 June 2025

 

Adalan Ventures plc (the 'Company' or 'Adalan'), announces its unaudited
interim results for the 6 month period ended 30 June 2025.

 

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 2025  Six months ended 30

                                                                                        Unaudited                      June 2024

                                                                                        £                              Unaudited

                                                                                                                       £

 Staff Costs                                                                            (90,825)                       (114,464)
 Operating expenses                                                                     (36,877)                       (93,711)
 Loss before income tax                                                                 (127,702)                      (208,175)
                                                                                        -                              -

 Income tax expense
 Net loss                                                                               (127,702)                      (208,175)

 Net other comprehensive income that may be reclassified to profit or loss
 Foreign exchange differences arising on translation into presentation currency         -                              -

 Total comprehensive loss                                                               (127,702)                      (208,175)

Adalan Ventures plc

Interim Condensed Consolidated Statement of financial position as at

 

                                    Notes  30 June      31 December 2024

                                           2025         Audited

                                           Unaudited    £

                                           £

 Assets:
 Cash and cash equivalents                 2,597        1,823
 Total Assets                              2,597        1,823

 Liabilities
 Other liabilities                         (967,830)    (859,354)
 Advanced subscriptions for shares         (103,956)    (83,956)
 Loan                                      (29,980)     (29,980)
 Total liabilities                         (1,101,766)  (973,290)
 Net Assets                                (1,099,169)  (971,467)

 

 

 

 

 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             9,672         9,672
 Accumulated deficit               (12,690,219)  (12,562,517)
 Total equity                      (1,099,169)   (971,467)
 Total liabilities and equity      2,597         1,823

 

 

   Interim Condensed Statement of changes in shareholders' equity
(Unaudited)  for the six months ended 30 June 2025  (unaudited)

                                    Share capital                           Share Premium                                 Accumulated      Total

Equity
                                    £                                       £                                            Deficit

                £
                                                                                           Share    options Reserve      £

                                                   Deferred Share Capital                  £

                                                   £
 Balance as at 1 January 2025       513,475

                                                   4,157,775                6,910,128      9,672                         (12,562,517)     (971,467)
 Issue of ordinary shares           -              -                        -              -                             -                -
 Comprehensive loss for the period  -                                       -                                            (127,702)        (127,702)

                                                   -                                       -
 Share-based payments               -                                       -                                            -                -

                                                   -                                               -
 Balance as at 30 June 2025         513,475                                 6,910,128                                    (12,690,219)     (1,099,169)

                                                   4,157,775                               9,672

 

Interim Condensed Consolidated Statement of Cash Flows

For the six months ended 30 June

                                                          Six months ended 30  Six months

                                                          June 2025            ended 30

                                                          Unaudited            June 2024

                                                          £                    Unaudited

                                                                               £

 Cash flows from operating activities
 Loss for the period                                      (127,702)            (208,175)
 Cash from operations                                     (127,702)            (208,175)

 Net (increase)/decrease in operating assets
 Change in receivables                                    -                    -
 Change in payables                                       96,476               155,723
 Net change in working capital                            96,476               155,723
 Net cash flows from operating activities                 (31,226)             (52,452))

 Cash flows from financing activities
 Advanced subscription of shares                          20,000               -
 Advancement of CLN                                       12,000               -
 Net Cashflows from financing activities                  32,000               -

 Net change in cash and cash equivalents                  774                  (52,452)
                                                          1,823                58,116

 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       2,597                6,664

 

 

1.     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 2024, 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 2024 were approved by the Board of Directors on 24 December 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 2024 for further information.

 

2.     Trade and other payables

 

                   30 June 2025  31 Dec 2024

                   Unaudited     Audited
                   £             £
 Trade payables    104,208       104,307
 Accruals          840,147       746,466
 CLN               12,000        -
 Other payables    11,475        8,581
                   967,830       859,354

Advanced subscriptions for shares of £103,956 at the period end (YE 2024
£83,956) represents funds advanced in the expectation of the issue of equity
at a share price of 4p per share once the shares in the Company are able to be
issued. This involves the commencement of trading in the company shares and
issuance of a prospectus and or authority to allot shares being granted by
shareholders at a general meeting and the annual authority to allot shares as
determined by the FCA (currently 19.99%, due to increase to 75% on 19th
January 2025).

 

 

3.     Subsequent events

 

The Company received further advanced subscriptions for shares following the
period end totalling £200,000. The shares are expected to be issued following
the lifting of suspension of the trading on the London Stock Exchange and
publication of a prospectus.

 

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