TIDMDVT
RNS Number : 7987P
daVictus plc
05 September 2017
daVictus plc
("daVictus" or the "Company")
Interim results for the 6 months ended 30 June 2017
Director's Statement
I am pleased to report the condensed financial statements of
Davictus PLC (the "Company" or "Davictus") for the six months ended
30 June 2017.
For the first half of 2017, the Directors have actively
discussed with potential target companies in the food and beverages
("F&B") sector - which operate in or own Western food and
beverage F&B eatery franchises in South East Asia and/or the
Far East, however, none of which has met the necessary criteria for
selection to date.
While we continue our efforts to identify targets for
acquisition, the Company has sufficient funds for general corporate
purposes and pre-acquisition activities, including on-going costs
and expenses such as Directors' fees and salaries, due diligence
costs and other costs of sourcing, reviewing and to pursue
potential acquisitions.
We are encouraged by both business opportunities and positive
start we have made to the current year and we would always remain
optimistic in respect of target acquisition.
During the reporting period, the Company reported a net loss of
54,010.
As at 30 June 2017, the Company had cash in bank of
GBP569,953.
There are a number of potential risks and uncertainties which
may have material impact on the Company's performance over the
remaining six months of the financial year and could cause actual
results to differ materially from expected and historical results.
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 2016, 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.
Responsibility Statement
The Directors are responsible for preparing the Condensed
Financial Statements in accordance with the Disclosure and
Transparency Rules of the United Kingdom's Financial Conduct
Authority ('DTR') and with International Accounting Standard 34 on
Interim Financial Reporting (IAS 34).
The directors confirm that, to the best of their knowledge, this
condensed consolidated half-yearly report has been prepared in
accordance with IAS 34, as adopted by the European Union. The
interim management report includes a fair review of the information
required by DTR 4.2.7 and DTR 4.2.8, namely:
-- an indication of important events that have occurred during
the first six months 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
-- material related-party transactions in the first six months and any material changes in the related-party transactions described in the last annual report.
Director
5 September, 2017
CONDENSED STATEMENT OF COMPREHESIVE INCOME (UNAUDITED)
FOR THE SIX MONTHSED 30 JUNE 2017
Notes 6 months 6 months
period period
ended ended
30 June 30 June
2017 2016
GBP GBP
(Unaudited) (Unaudited)
------------ ------------
INCOME - -
------------ ------------
- -
Interest income - 238
Operating expenses (54,010) (193,376)
------------ ------------
OPERATING PROFIT/LOSS BEFORE
TAXATION (54,010) (193,138)
Income tax expense 3 - -
------------ ------------
LOSS FOR THE PERIOD ATTRIBUTABLE
TO
EQUITY HOLDERS OF THE COMPANY (54,010) (193,138)
Basic and diluted loss per (0.48) (3.21)
share (pence) 4 p p
============ ============
CONDENSED STATEMENT OF FINANCIAL POSITION (UNAUDITED)AS AT 30
JUNE 2017
Notes As at As at As at
30 June 30 June 31 December
2017 2016 2016
GBP GBP GBP
(Unaudited) (Unaudited) Audited
CURRENT ASSETS
Other receivables - -
Cash and cash equivalents 569,953 721,112 632,220
-------------
569,953 721,112 632,220
CURRENT LIABILITIES
Other payables 14,779 10,470 23,354
Amount owing to 318 - -
directors
----------------- ------------ -------------
15,097 10,470 23,354
----------------- ------------ -------------
NET ASSETS 554,856 710,642 608,866
================= ============ =============
EQUITY ATTRIBUTABLE
TO EQUITY HOLDERS
OF THE COMPANY
Stated capital 5 1,053,400 1,125,000 1,053,400
Retained earnings (498,544) (414,358) (444,534)
----------------- ------------ -------------
TOTAL EQUITY 554,856 710,642 608,866
================= ============ =============
CONDENSED STATEMENT OF CASH FLOWS (UNAUDITED)
FOR THE SIX MONTHSED 30 JUNE 2017
6 months 6 months
period period
ended ended
30 June 30 June
2017 2016
GBP GBP
(Unaudited) (Unaudited)
Cash flow from operating
activities
Operating loss (54,010) (193,138)
------------------- ------------
Changes in working capital (8,257) (101,500)
------------------- ------------
Net cash flow from operating
activities (62,267) (294,638)
------------------- ------------
Cash flow from financing
activities
Issue of share capital - 1,000,000
------------------- ------------
Net cash flow from financing
activities (62,267) 1,000,000
------------
Net increase in cash and
cash equivalents (62,267) 705,362
Cash and cash equivalents
at beginning of period 632,220 15,750
------------------- ------------
Cash and cash equivalents
at end of period 569,953 721,112
=================== ============
STATEMENT OF CHANGES IN EQUITY (UNAUDITED)
FOR THE SIX MONTHSED 30 JUNE 2017
Period from 1 January 2017 to 30 June 2017
Stated Retained Total
capital earnings
GBP GBP GBP
As at 1 January
2017 1,053,400 (444,534) 608,866
Loss for the period - (54,010) (54,010)
------------ ------------ ----------
Total comprehensive
loss for the period - (54,010) (54,010)
------------ ------------ ----------
As at 30 June 2017 1,053,400 (498,544) 554,856
============ ============ ==========
Period from 1 January 2016 to 30 June 2016
Stated Retained Total
capital earnings
GBP GBP GBP
As at 1 January
2016 125,000 (221,220) (96,220)
Loss for the period - (193,138) (193,138)
------------ ------------ ----------
Total comprehensive
loss for the period - (193,138) (193,138)
------------ ------------ ----------
Issue of ordinary
shares 1,000,000 - 1,000,000
As at 30 June 2016 1,125,000 (414,358) 710,642
============ ============ ==========
For the year ended 31 December 2016
Stated Retained Total
capital earnings
GBP GBP GBP
As at 1 January
2016 125,000 (221,220) (96,220)
Loss for the period - (223,314) (223,314)
---------- ---------- ----------
Total comprehensive
loss for the period - (223,314) (223,314)
---------- ---------- ----------
Issue of ordinary
shares 1,000,000 - 1,000,000
Share issuance
costs (71,600) - (71,600)
As at 31 December
2016 1,053,400 (444,534) 608,866
========== ========== ==========
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 30 JUNE 2017
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 43/45 La
Motte Street St Helier Jersey JE4 8SD.
2. ACCOUNTING POLICIES
Basis of preparation
The condensed interim financial information for the six month
period ended 30 June 2017 has 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 2016.
The condensed interim financial information has been prepared on
a basis consistent with, and on the basis of, the accounting
policies set out in the audited financial statements of the Company
for the year ended 31 December 2016, which have been prepared in
accordance with IFRSs as adopted by the European Union.
The condensed interim financial information is presented in
British Pound Sterling ("GBP").
Going concern
The condensed interim financial information has been prepared on
a going concern basis, which assumes that the Company will continue
to be able to meet its liabilities as they fall due for the
foreseeable future.
3. 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.
4. LOSS PER SHARE
Basic 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 6 months
period period ended
ended 30 June
30 June 2016
2017
Loss for the year (GBP)
(54,010) (193,138)
Weighted average number
of shares (Unit) 11,250,000 6,007,576
Loss per share (Pence) (0.48)p (3.21)p
5. STATED CAPITAL & RESERVES
As at As at As at
30 June 31 December 30 June
2017 2016 2016
GBP GBP GBP
Allotted, called up
and fully paid
(Ordinary shares of
GBP0.01 each) 1,053,400 1,053,400 1,125,000
On 29 January 2016, the Company issued 10,000,000 Ordinary
shares of GBP0.01 each at a price of 10 pence per share as part of
the Initial Public Offering of the Company's shares.
6. RELATED PARTY TRANSACTION
The directors are considered to be the key management personnel.
Details concerning Directors remuneration can be found below:
6 months 6 months
period period
ended ended
30 June 30 June
2017 2016
GBP GBP
Robert Pincock
Fee 7,500 7,500
Abd Hadi Bin Abd Majid
Fee 5,000 5,000
Maurice James Malcolm
Groat
Fee 2,000 1,667
--------- ---------
14,500 14,167
--------- ---------
7. SEASONAL OR CYCLICAL FACTORS
There are no seasonal factors that materially affect the
operations of any company in the Group.
8. SUBSEQUENT EVENTS
There are no subsequent events requiring disclosure in these
financial statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR LIFSFAVIEIID
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September 05, 2017 02:41 ET (06:41 GMT)
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