First Half Results to 31 March 2024
30/05/2024 09:23
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Gledhow Investments plc (GDH)
Gledhow Investments plc: First Half Results to 31 March 2024
30-May-2024 / 09:23 GMT/BST
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Gledhow Investments plc
(“Gledhow” or the “Company”)
First Half Results to 31 March 2024
30 May 2024
Results
Gledhow Investments plc is pleased to announce its unaudited half year
results (“interim results”) for the six-month period from 1 October 2023
to 31 March 2024. These interim results have not been audited or reviewed
by the Company’s auditor.
The Company continues to pursue its investment strategy which has the
objective of achieving long-term capital growth.
The Company had cash of GBP 217,231 at the period end. The Company made a
pre-tax loss of GBP 115,510 which included net unrealised losses on
investments of GBP 163,885.
Despite the uncertain economic environment, the Company is in a strong
position, thanks to its strong cash position, and we look forward to being
able to make opportunistic investments in small to medium sized
undervalued companies as they arise.
The directors of the issuer accept responsibility for the contents of this
announcement.
For further information please contact:
Guy Miller 020 7220 9795 (Gledhow Investments
plc)
Profit and Loss Account
for the six months ended 31 March
2024 Continuing operations
Six months to 31 Six months to 31
March 2024 March 2023
£ £
Turnover
Proceeds from sale of investments 282,127 597,990
Cost of sales (including unrealised
gains and losses on investments held for (370,033) (667,050)
resale)
Gross (loss) (87,906) (69,060)
Administrative expenses (27,604) (24,813)
(Loss) on ordinary activities before tax (115,510) (93,873)
Taxation - -
(Loss) for the period (115,510) (93,873)
(Loss)/earnings per share – Basic (0.13)p (0.11)p
(pence)
Balance Sheet as at 31 March 2024
2024 2023
£ £
Current assets
Investments held for resale 1,082,261 1,104,770
Debtors - 162,509
Cash at bank and in hand 217,231 339,447
Total current assets 1,299,492 1,606,726
Creditors: amounts falling due within one year
(2,589) (2,446)
Net current assets less current liabilities 1,296,903 1,604,280
Capital and reserves
Called up share capital 975,714 975,714
Share premium account 384,408 384,408
Profit and loss account (63,219) 194,190
Other reserve - 49,968
Shareholders' funds
1,296,903 1,604,280
- equity interests
Notes
1. The interim results together with the related notes set out below have
been approved by the board of directors of Gledhow Investments plc.
2. The Company’s strategy is to make short to medium term investments in
small to medium sized quoted or unquoted companies.
3. The financial results detailed above have not been audited or reviewed
in accordance with the International Standard on Review Engagements 2410
issued by the Auditing Practices Board. The principal accounting policies
used in preparing these interim accounts are those expected to apply in
the Company’s Financial Statements for the year ending 30 September 2024
and are unchanged from those disclosed in the Company’s Annual Report for
the year ended 30 September 2023.
4. Called up share capital includes 9,949,084 Ordinary Shares of 1p each
held as treasury shares by the Company.
5. Earnings per share – Basic
The earnings per share for the six months ended 31 March 2024 is
calculated on the loss on ordinary activities after tax of £115,510 (2023:
loss of £93,873) divided by the weighted average number of 87,622,344
(2023: 87,622,344 ordinary shares of 1p each in issue (which excludes the
treasury shares held by the Company) during the period.
6. The financial information in this report does not constitute Statutory
Accounts within the meaning of Section 434 of the Companies Act 2006. The
financial statements for the year ended 30 September 2023 have been
delivered to the Registrar of Companies and the auditors’ report on those
financial statements was unqualified and did not contain a statement made
under Section 498(2) or Section 498(3) of the Companies Act 2006.
.
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Dissemination of a Regulatory Announcement that contains inside
information in accordance with the Market Abuse Regulation (MAR),
transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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ISIN: GB0008842717
Category Code: MSCM
TIDM: GDH
Sequence No.: 324915
EQS News ID: 1914625
End of Announcement EQS News Service
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