Gledhow Investments plc (GDH)
30-May-2024 / 09:23 GMT/BST
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 March 2024 | Six months to 31 March 2023 | | | £ | £ | | Turnover | | | | Proceeds from sale of investments | 282,127 | 597,990 | | Cost of sales (including unrealised gains and losses on investments held for resale) | (370,033) | (667,050) | | | | | | 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 (pence) | (0.13)p | (0.11)p |
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 - equity interests | 1,296,903 | 1,604,280 | | | | |
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. .
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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