REG - Caledonian Trust PLC - Half-year Report <Origin Href="QuoteRef">CNN.L</Origin> - Part 2

Caledonian TrustAnnouncement

30/03/2017 15:40

- Part 2: For the preceding part double click  ID:nRSd0666Ba 

 =====          =====          =====          
                                                                                                                                           
 Net asset value per share                                                                    151.7p         150.5p         152.88p        
 
 
Consolidated cash flow statement for the six months ended 31 December 2016 
 
                                                    6 months ended  6 months ended  Yearended  
                                                    31 Dec          31 Dec          30 June    
                                                    2016            2015            2016       
                                                    £000            £000            £000       
                                                                                               
 (Loss)/profit for the period                       (138)           (180)           105        
                                                                                               
 AdjustmentsProfit on sale of investment property   -               (99)            (99)       
 Investment property valuation movements            -               -               (490)      
 Depreciation                                       -               -               11         
 Net finance expense                                11              11              22         
                                                    ____            ____            ___        
 Operating cash flows before movements                                                         
 in working capital                                 (127)           (268)           (451)      
 (Increase)/decrease in trading properties          (296)           144             252        
 (Increase) in trade and other receivables          (76)            (65)            (57)       
 Increase in trade and other payables               107             39              30         
                                                    _____           _____           _____      
 Cash outflows from operating                       (392)           (150)           (226)      
 activities                                                                                    
 Interest received                                  -               -               1          
                                                    _____           _____           _____      
 Cash outflows from operating                       (392)           (150)           (225)      
 activities                                         _____           _____           _____      
 Investing activities                                                                          
 Proceeds from sale of investment property                          200             199        
 Purchases of property, plant and equipment         (3)             (2)             (2)        
                                                    _____           _____           _____      
 Cash (outflows)/inflows from investing activities  (3)             198             197        
                                                    _____           _____           _____      
 Financing activities                                                                          
                                                                                               
 Increase in borrowings                             310             -               -          
                                                    _____           _____           _____      
 Cash flows from financing activities               -               -               -          
                                                    _____           _____           _____      
 Net (decrease)/increase in cash and                                                           
 cash equivalents                                   (85)            48              (28)       
 Cash and cash equivalents at beginning                                                        
 of period                                          103             131             131        
                                                    _____           _____           _____      
 Cash and cash equivalents at end of period         18              179             103        
                                                    ====            ====            ====       
 
 
Notes to the interim statement 
 
1          This interim statement for the six month period to 31 December 2016
is unaudited and was approved by the directors on 30 March 2017.  Caledonian
Trust PLC (the "Company") is a company domiciled in the United Kingdom. The
information set out does not constitute statutory accounts within the meaning
of Section 434 of the Companies Act 2006. 
 
2          Going concern basis 
 
After making enquiries, the Directors have a reasonable expectation that the
Company and the Group have adequate resources to continue in operational
existence for the foreseeable future.  Accordingly, they continue to adopt the
going concern basis in preparing this interim statement. 
 
3          Accounting policies 
 
Basis of preparation 
 
The consolidated interim financial statements of the Company for the six
months ended 31 December 2016 comprise the Company and its subsidiaries,
together referred to as the "Group".   The financial information set out in
this announcement for the year ended 30 June 2016 does not constitute the
Group's statutory accounts for that period within the meaning of Section 434
of the Companies Act 2006.   Statutory accounts for the year ended 30 June
2016 are available on the Company's website at www.caledoniantrust.com and
have been delivered to the Registrar of Companies.   These accounts have been
prepared in accordance with International Financial Reporting Standards
("IFRS") as adopted by the European Union.   The auditors have reported on
those financial statements; their reports were (i) unqualified, (ii) did not
include references to any matters to which the auditors drew attention by way
of emphasis without qualifying their reports, and (iii) did not contain
statements under Section 498 (2) or (3) of the Companies Act 2006. 
 
The financial information set out in this announcement has been prepared in
accordance with International Financial Reporting Standards as adopted by the
European Union ("adopted IFRS").   The financial information is presented in
sterling and rounded to the nearest thousand. 
 
The financial information has been prepared applying the accounting policies
and presentation that were applied in the preparation of the company's
published consolidated financial statements for the year ended 30 June 2016. 
 
In the process of applying the Group's accounting policies, management
necessarily makes judgements and estimates that have a significant effect on
the amounts recognised in the interim statement.   Changes in the assumptions
underlying the estimates could result in a significant impact to the financial
information.   The most critical of these accounting judgement and estimation
areas are included in the Group's 2016 consolidated financial statements and
the main areas of judgement and estimation are similar to those disclosed in
the financial statements for the year ended 30 June 2016. 
 
4          Profit or loss per share 
 
Basic profit or loss per share is calculated by dividing the profit or loss
attributable to ordinary shareholders by the weighted average number of
ordinary shares outstanding during the period as follows: 
 
                                     6 months ended  6 months ended  Year ended  
                                     31 Dec          31 Dec          30 June     
                                     2016            2015            2016        
                                     £000            £000            £000        
 (Loss)/profit for financial period  (138)           (180)           105         
                                     ===             ===             ===         
                                     No.             No.             No.         
 Weighted average no. of shares:                                                 
 For basic and diluted profit or                                                 
 loss per share                      11,783,577      11,783,577      11,783,577  
                                     ========        ========        ========    
 Basic (loss)/profit per share       (1.17p)         (1.52p)         0.89p       
 Diluted (loss)/profit per share     (1.17p)         (1.52p)         0.89p       
                                                                                 
 
 
5          Income tax 
 
Taxation for the 6 months ended 31 December 2016 is based on the effective
rate of taxation which is estimated to apply to the year ending 30 June 2017. 
Due to the tax losses incurred there is no tax charge for the period. 
 
In the case of deferred tax in relation to investment property revaluation
surpluses, the base cost used is historical book cost and includes allowances
or deductions which may be available to reduce the actual tax liability which
would crystallise in the event of a disposal of the asset.  At 31 December
2016 there is a deferred tax asset which is not recognised in these accounts. 
 
 6  Issued share capital                                                           
                                 31 December 2016  31 December 2015  30 June 2016  
                                 No                £000              No.           £000   No.     £000   
                                 000                                 000                  000            
    Issued and                                                                                           
    fully paid                                                                                           
    Ordinary shares of 20p each  11,784            2,357             11,784        2,357  11,784  2,357  
                                 =====             ====              =====         ====   =====   ====   
 
 
This information is provided by RNS
The company news service from the London Stock Exchange