REG - daVictus Plc - Half-year Financial Report ended 30 September 2025
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RNS Number : 8839M daVictus plc 29 December 2025
25 December 2025
DAVICTUS PLC
("DAVICTUS" OR "THE COMPANY")
UNAUDITED INTERIM FINANCIAL STATEMENTS ENDED 30 JUNE 2025
daVictus plc, (LSE: DVT), a company established to seek business opportunities
in the food and beverage sector in Asia, announces its unaudited interim
financial statement for the period ended 30. June 2025
The Interim report is also available on the Company's website
at: http://www.davictus.co.uk (http://www.davictus.co.uk/) .
For further information, please contact:
Robert Pincock
robert@davictus.co.uk
+603 5613 3388
CHAIRMAN'S STATEMENT
Dear Shareholders,
I am pleased to present the interim report and financial statements of
Davictus Plc for the six-month period ended 30 June 2025.
The first half of 2025 has been a period of steady progress as the Company
continues to evolve into a broader business advisory and consultancy platform.
Our strategy, initiated in 2024, focuses on building a diversified consultancy
business serving clients across multiple industries. This includes services in
business advisory, corporate development, management consultancy, performance
improvement, and where suitable, franchise-related advisory work.
While we continue to meet our commitments to existing franchise clients, this
activity now forms only one part of our expanding service portfolio. The
Company's direction is clear - to position Davictus Plc as a multi-sector
consulting and advisory firm leveraging the deep expertise and networks of our
Board and leadership team.
Market response to this transition has been encouraging, with increasing
interest from organisations seeking advisory support on corporate strategy,
capital planning, operational transformation, and business growth initiatives.
Our focus remains on building long-term relationships, delivering high-quality
advisory capabilities, and developing a pipeline of recurring consulting
engagements.
The global operating landscape remains dynamic, shaped by shifting industry
models, evolving consumer behaviour, and broader economic challenges. These
factors reinforce the relevance of our strategic shift and the importance of
adaptability in our business model. By expanding beyond a sector-focused
service offering, Davictus Plc is better positioned to capture opportunities
across a wider client base and to build a more resilient operating framework.
We continue to manage our financial and operational resources prudently while
investing selectively in capability building and business development to
support sustainable growth.
On behalf of the Board, I extend our appreciation to all shareholders for your
continued confidence in our vision. I also thank our clients and partners for
their trust and our team for their dedication through this period of
transition and development.
As we look to the remainder of 2025, we remain committed to strengthening our
consulting platform, deepening client partnerships, and driving value creation
for all stakeholders.
Thank you for your continued support.
Abd Hadi Bin Abd Majid
Chairman
25 December 2025
DIRECTORS' STATEMENT
Key Developments
During the first half of 2025, Davictus Plc advanced its strategic pivot from
a primarily franchise-focused model to a diversified business advisory and
consultancy platform, building on the foundations laid in 2024. Key highlights
include the expansion of service offerings to encompass corporate strategy,
capital planning, operational transformation, and performance improvement,
alongside ongoing franchise advisory support. We secured initial engagements
with new clients in business consulting and data centre sectors, reflecting
positive market reception amid economic uncertainties. No significant
disruptions from prior risks, such as those noted in the 2024 annual report
(e.g., inflation and cautious spending in regional markets), were encountered,
though we maintained prudent resource management.
Financial Summary
The Group reported a net profit of £12,871 for the period, a modest result
driven by recurring consultancy fees and franchise fees from operations in
Malaysia and Thailand. Cash and cash equivalents stood at £12,289 at 30 June
2025, reflecting planned expenditures on business development and no new
external financing. Revenue remained stable, with no material seasonal
impacts, and the Group continues to operate with zero debt, maintaining a
strong balance sheet. Basic earnings per share were positive but diluted by
the weighted average shares in issue, consistent with prior periods.
Strategic Update
Looking ahead, Davictus Plc remains committed to evolving as a multi-sector
consultancy firm, leveraging our Board's expertise to foster long-term client
relationships and recurring engagements. We are exploring opportunities beyond
our core Havana Dining franchise and possibly away from restaurant management
services, as outlined in the 2024 strategic report. Investments will focus on
talent acquisition and digital tools to enhance advisory capabilities,
aligning with sustainability goals from our 2024 TCFD disclosures. The Board
anticipates improved performance in the second half of 2025, supported by a
resilient operating framework and ongoing risk monitoring.
Principal Risks and Uncertainties
The directors have reviewed the principal risks and uncertainties facing the
Group for the remaining six months of the financial year. These remain
unchanged from those detailed in the annual report for the year ended 31
December 2024, which include:
· Economic and market volatility in Southeast Asia affecting client
spending and franchise performance;
· Currency fluctuations, particularly in Malaysian Ringgit (MYR);
· Competitive pressures in the consultancy and franchise advisory
sectors;
· Liquidity risk amid ongoing investments in business development; and
· Operational risks related to client retention and service delivery.
The directors do not consider any changes on the principal risks and
uncertainties since the publication of the annual report for the year ended 31
December 2024, which contained a detailed explanation of the risks relevant to
the Company, is also available at http://www.davictus.co.uk.
The Board looks forward to providing further updates to the shareholders in
due course
Directors' Responsibility Statement
The Directors are responsible for preparing the Interim Report and Condensed
Consolidated Financial Statements in accordance with the applicable law and
regulations. The Disclosure Guidance and Transparency Rules ("DTR") of the
United Kingdom's Financial Conduct Authority require that the Directors ensure
that the interim financial statements give a true and fair view of the
financial position and performance of the Group.
The Directors confirm that, to the best of their knowledge:
1. The condensed set of financial statements has been prepared in
accordance with IAS 34 "Interim Financial Reporting" as adopted in the United
Kingdom;
2. The interim management report includes a fair review of the information
required by DTR 4.2.7R, being:
· an indication of important events that have occurred during the first
six months of the financial year, and their impact on the condensed set of
financial statements; and
· a description of the principal risks and uncertainties for the
remaining six months of the financial year; and
3. The interim management report includes a fair review of the information
required by DTR 4.2.8R, being:
· related-party transactions that have taken place in the first six
months of the current financial year and that have materially affected the
financial position or performance of the Group; and
· any changes in related-party transactions described in the last
Annual Report that could materially affect the financial position or
performance of the Group in the remaining six months of the current financial
year.
The Directors further acknowledge their responsibility for maintaining
adequate accounting records and internal controls to safeguard the assets of
the Group and to prevent and detect fraud and other irregularities.
This responsibility statement is approved by the Board of Directors.
Abd Hadi Bin Abd Majid
Chairman
25 December 2025
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE SIX MONTHS ENDED 30 JUNE 2025
Notes 6 months period ended 6 months period ended
30-Jun-25 30-Jun-24
(Unaudited) (Unaudited)
£ £
Revenue 3 137,500 150,000
Cost of sales - -
Gross profit 137,500 150,000
Operating expenses (124,629) (105,694)
Operating Profit 12,871 44,306
Other income - -
Gain on foreign exchange - -
Interest income - -
Finance expenses - -
Profit before taxation 12,871 44,306
Tax expense 4 - -
12,871 44,306
PROFIT FOR THE PERIOD
ATTRIBUTABLE TO EQUITY SHAREHOLDERS
OTHER COMPREHENSIVE INCOME
Loss on disposal of investment - -
TOTAL COMPREHENSIVE PROFIT FOR THE PERIOD 12,871 44,306
Basic and diluted profit per share (pence) 5 0.096 p 0.33 p
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2025
As at As at As at
30-Jun-25 30-Jun-24 31-12-24
Notes (Unaudited) (Unaudited) Audited
£ £ £
Non-current assets
Trade and other receivables 110,000 75,709 -
Office equipment 4,104 4,583
Right-of-use asset 6 47,283 78,805 63,044
Investment Property 54,448 53,994
215,835 154,514 121,621
Current assets
Trade and other receivables 233,871 302,837 301,827
Other receivables - - -
Cash and cash equivalents 12,289 135,696 112,326
246,160 514,242 414,153
Total assets 461,995 593,047 535,774
Equity attributable to equity holders of the company
Share capital 7 1,224,400 1,224,400 1,224,400
Accumulated losses (901,531) (873,933) (914,402)
Total equity 322,869 350,467 309,998
Non-current liabilities
Lease liabilities 9 32,395 49,455 33,539
32,395 49,455 33,539
Current liabilities 8
Other payables 73,004 64,819 107,614
Deferred Income 16,667 93,333 53,333
Amount owing to directors - 4,750 -
Lease liabilities 9 17,060 30,223 31,290
106731 193,125 192,237
Total Liability 139,126 242,580 225,776
Total equity and liabilities 461,995 593,047 535,774
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW
FOR THE SIX MONTHS ENDED 30 JUNE 2025
As at As at
30-Jun-25 30-Jun-24
(Unaudited) (Unaudited)
£ £
Cash flow from operating activities
Operating Profit 12,871 44,306
Adjustment for:
Depreciation of right-of-use-assets 15,761 15,761
Depreciation of fixed assets 479
Interest on lease liabilities 2,034 2,520
31,145 62,587
Changes in working capital
(Increase) / Decrease in receivables (48,078) (19,608)
(Decrease) / Increase in other payables (65,696) (24,235)
Increase in amount due to directors 4,750
Net cash flow used in operating activities (82,629) 23,494
Cash flows from financing activities
Repayment on lease liability (17,408) (17,408)
Net cash generated from financing activities (17,408) (17,408)
Net increase in cash and cash equivalents (100,037) (6,086)
Cash and cash equivalents at beginning of period 112,326 129,610
Cash and cash equivalents at end of period 12,289 135,696
CONDENSED CONSOLIDATED STATEMENT CHANGES OF EQUITY
FOR THE SIX MONTHS ENDED 30 JUNE 2025
Period from 1 January 2025 to 30 June 2025
Stated capital Accumulated losses Total
£ £ £
As at 1 January 2025 1,224,400 (914,402) 309,998
Profit for the period - 12,871 12,871
Total comprehensive profit for the period - 12,871 12,871
As at 30 June 2025 1,224,400 (901,531) 323,321
Period from 1 January 2024 to 30 June 2024
Stated capital Accumulated losses Total
£ £ £
As at 1 January 2024 1,224,400 (922,884) 301,516
Profit for the period - 44,306 44,306
Total comprehensive profit for the period - 44,306 44,306
As at 30 June 2024 1,224,400 (878,578) 345,822
*** Profit/(loss) for the year restated for the years ended 31 December 2023
and 31 December 2024, respectively.
For the year ended 31 December 2024
Stated capital Accumulated losses Total
£ £ £
As at 1 January 2024 1,224,400 (922,884) 301,516
Profit for the period - 8,482 8,482
Total comprehensive profit for the period - 8,482 8,482
As at 31 December 2024 1,224,400 (914,402) 309,998
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR SIX MONTHS ENDED 30 JUNE 2025
1. GENERAL INFORMATION
The Company was incorporated and registered in Jersey as a public company
limited by shares on 5 February 2015 under the companies (Jersey) Law 1991 and
registered number 117716. The registered office of the Company is at the
offices of 28 Esplanade, St. Helier, Jersey, JE1 8SB.
On 8 October 2020, the Company incorporated Davictus World Sdn Bhd in Malaysia
as a wholly owned subsidiary for purpose of business operation (together in
this financial report referred as the 'Group').
2. ACCOUNTING POLICIES
Basis of preparation
The interim financial statements for the six-month period ended 30 June 2025
have been prepared in accordance with IAS 34 Interim Financial Reporting. It
is unaudited and does not constitute statutory financial statements. The
comparative interim financial information covers the period ended 30 June
2024.
The interim financial statements have been prepared on a basis consistent
with, and on the basis of, the accounting policies set out in the audited
financial statements of the Group for the year ended 31 December 2024, which
have been prepared in accordance with International Financial Reporting
Standards as adopted by the United Kingdom.
The interim financial information is presented in British Pound Sterling
("£").
New standards and interpretations
A number of new standards and amendments to standards and interpretations have
been issued by International Accounting Standards Board but are not yet
effective and in some cases have not yet been adopted by the United Kingdom.
The Directors do not expect that the adoption of these standards will have a
material impact on the financial statements of the Group in future periods.
Basis of consolidation
The consolidated financial statements incorporate the financial statements of
the Company and entities controlled by the Company (its subsidiaries). Control
is achieved where the Company is exposed to, or has rights to, variable
returns from its involvement with the entity and has the ability to affect
those returns through its power over the entity.
All intercompany transactions, balances, income and expenses are eliminated in
consolidation.
Going concern
The condensed interim financial statements have been prepared on a going
concern basis, which assumes that the Group will continue to be able to meet
its liabilities as they fall due for the foreseeable future.
In assessing the appropriateness of the going concern basis, the Directors
have considered the Group's financial position, cash flow forecasts, liquidity
resources, and the nature and timing of expected cash inflows and outflows for
a period of at least twelve months from the date of approval of these interim
financial statements.
During the period, the Group has continued to manage its operations prudently
while progressing its strategic transition from a primarily franchise-focused
model to a broader business advisory and consultancy platform. This transition
involves ongoing investment in business development and capability building,
which has been factored into the Group's working capital forecasts.
The Directors have reviewed forecast revenue streams, operating cost
structures, and committed expenditure, and have considered the Group's ability
to manage cash flows under reasonably foreseeable scenarios. The Group
continues to operate with no external borrowings and retains flexibility in
managing its cost base and timing of discretionary expenditure. Where
necessary, the Group also has the ability to obtain short-term financial
support from directors.
Based on this assessment, the Directors have a reasonable expectation that the
Group has adequate resources to continue in operational existence for the
foreseeable future. Accordingly, the condensed interim financial statements
have been prepared on a going concern basis.
Revenue recognition
Revenue is recognised to the extent that it is probable that the economic
benefits will flow to the Group and the revenue can be reliably measured,
regardless of when the payment is made. Revenue is measured at the fair value
of consideration received or receivable, taking into account contractually
defined terms of payment and excluding taxes or duty.
Fees receivable from franchisee according to franchise agreement at which time
the Group has performed its obligation. Fees receivable in advance are stated
on the Consolidated Statement of Financial Position as deferred income.
Leases
The Group assesses whether a contract is or contains a lease, at the inception
of the contract. The Group recognises a right-of-use asset and corresponding
lease liability with respect to all lease arrangements in which it is the
lessee, except for low-value assets and short-term leases with 12 months or
less. For these leases, the Group recognises the lease payments as an
operating expense on a straight-line method over the term of the lease unless
another systematic basis is more representative of the time pattern in which
economic benefits from the leased assets are consumed.
The Group recognises a right-of-use asset and a lease liability at the lease
commencement date. The right-of-use assets and the associated lease
liabilities are presented as a separate line item in the statement of
financial position.
The right-of-use asset is initially measured at cost. Cost includes the
initial amount of the corresponding lease liability adjusted for any lease
payments made at or before the commencement date, plus any initial direct
costs incurred, less any incentives received.
The right-of-use asset is subsequently measured at cost less accumulated
depreciation and any impairment losses, and adjustment for any remeasurement
of the lease liability. The depreciation starts from the commencement date of
the lease. If the lease transfers ownership of the underlying asset to the
Group or the cost of the right-of-use asset reflects that the Group expects to
exercise a purchase option, the related right-of-use asset is depreciated over
the useful life of the underlying asset. Otherwise, the Group depreciates the
right-of-use asset to the earlier of the end of the useful life of the
right-of-use asset or the end of the lease term.
The lease liability is initially measured at the present value of the lease
payments that are not paid at the commencement date, discounted by using the
rate implicit in the lease. If this rate cannot be readily determined, the
Group uses its incremental borrowing rate.
The lease liability is subsequently measured at amortised cost using the
effective interest method. It is remeasured when there is a change in the
future lease payments (other than lease modification that is not accounted for
as a separate lease) with the corresponding adjustment is made to the carrying
amount of the right-of-use asset or is recognised in profit or loss if the
carrying amount has been reduced to zero.
3. REVENUE
The Group revenue are derived from franchise related fees including brand
licence, management fee and royalties according to Restaurant Franchise
Agreement. For the reporting period, revenue contributions are from a
franchisee located in Kuala Lumpur, Malaysia and Bangkok Thailand.
There are no seasonal factors that materially affect the operations of the
Group.
4. INCOME TAX EXPENSE
The Company is not a "Financial Services Company" registered under the
relevant Jersey laws; or a specified utility company and therefore it is
subject to Jersey income tax at the general rate of 0 per cent. If the Company
derives any income from Jersey property, including development of land or
quarrying, such income will be subject to tax at the rate of 20 per cent. It
is not expected that the Company will derive any such income.
5. PROFIT / (LOSS) PER SHARE
Basic profit / (loss) per ordinary share is calculated by dividing the loss
attributable to equity holders of the company by the weighted average number
of ordinary shares in issue during the period. Diluted earnings per share is
calculated by adjusting the weighted average number of ordinary shares
outstanding to assume conversion of all dilutive potential ordinary shares.
There are currently no dilutive potential ordinary shares.
6 months period ended 6 months period ended
30-Jun-25 30-Jun-24
£ £
Profit for the period 12,871 44,306
Weighted average number of shares (Unit) 13,350,000 13,350,000
Profit per share (pence) 0.096 p 0.33 p
6. RIGHT-OF-USE ASSETS
The Company has entered into a non-cancellable operating lease agreement for
tenancy of office space. The initial lease agreement is for a period of 24
months commencing 1 January 2021 with an option to renew the lease for a
further 12 months. On completion of the lease agreement on 31 December 2024,
the company had extended the lease agreement for a further three (3) years
commencing 1 January 2024 to 31 December 2026
£
Cost 94,566
Accumulated depreciation (47,283)
As at 30 June 2025 47,283
7. STATED CAPITAL
Number of ordinary shares £
As at 1 January 2025 13,350,000 1,224,400
As at 30 June 2025 13,350,000 1,224,400
8. CURRENT LIABILITIES
6 months 6 months
period ended period ended
30-Jun-25 30-Jun-24
£ £
Other Creditors 72,552 64,819
Deferred Income 16,667 93,333
Amount owing to Director - 4,750
Lease Liability 49,455 79,678
138,674 242,580
9. LEASE LIABILITIES
6 months period ended 6 months period ended
30-Jun-25 30-Jun-24
£ £
As at 1 January 69,633 -
Addition during the year - 104,449
De-recognition of lease due to termination - -
Interest in suspense (4,804) (9,883)
Interest expensed 2,034 2,520
Repayment of principal (17,408) (17,408)
49,455 79,678
Lease liabilities are payable as follow:
Within 1 year 17,060 30,223
Between 2 - 5 years 32,395 49,455
10. RELATED PARTY TRANSACTION
The directors are considered to be the key management personnel. Details
concerning Directors' remuneration can be found below:
6 months period ended 30-Jun-25 6 months period ended 30-Jun-24
£ £
Robert Pincock 7,500 7,500
Abd Hadi Bin Abd Majid 5,000 5,000
Maurice James Malcolm Groat 2,000 2,000
14,500 14,500
11. SUBSEQUENT EVENTS
Both franchise arrangements ended prior to the end of the interim reporting
period. The Malaysian franchisee had fulfilled the full 5-year contractual
franchise term and elected not to renew the franchise upon expiry. The
Thailand franchisee ceased operations before the end of its contractual term
but agreed to continue franchise fee payments up to 30 November 2025,
representing an early termination of one year from the original franchise
agreement. The Company subsequently agreed to waive the franchisee's remaining
contractual and financial obligations for the balance of the franchise term.
There were no other subsequent events after the reporting period that require
disclosure or adjustment.
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