Lombard Capital PLC - Half-year Report

Lombard Capital PLC - Half-year Report

PR Newswire

London, December 21

LOMBARD CAPITAL PLC
("Lombard" or the "Company")

UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018

CHAIRMAN'S STATEMENT

Dear shareholder

Your current board of directors continues to focus on investment opportunities and the issuance of asset backed investment bonds for listing on a recognised exchange.

My report for the 6 months unaudited figures to 30th September 2018 shows a comprehensive loss of GBP74,697. This loss is attributable to the overhead costs incurred during the period.

During the period your directors have continued to issue unsecured convertible loan notes and warrants to raise funds to cover overheads and for selected investment purposes.

Your directors have continued to progress towards our target of issuing an asset backed investment bond. The project is currently making significant progress towards issuance and listing on a recognised bond market. A further announcement will be made as soon as we finalise arrangements.

I look forward to the future with enthusiasm and thank all my colleagues and our professionals for their support and advice.

I also thank you all as shareholders for your continuing support.

David Grierson.
Chairman
Lombard Capital Plc.

21 December 2018

The directors of Lombard Capital Plc accept responsibility for this announcement.

For further information please contact:

Brent Fitzpatrick
Tel: [phone]

NEX Exchange Corporate Adviser:
Alfred Henry Corporate Finance Limited
Nick Michaels: 020 3772 0021

Condensed Statement of Comprehensive Income

Six months ended 30 September 2018

		6 Months ended		Year ended		6 Months ended
		30/09/2018		31/03/2018		30/09/2017
		Unaudited		Audited		Unaudited
		£		£		£
Continuing operations
Investment income		-		-		-
Operating expenses		(74,697)		(384,658)		(180,518)
Impairment of investments		-		-		-
Operating loss and loss before taxation		(74,697)		(384,658)		(180,518)
Taxation		-		-		-
Loss for the period, attributable to the owners		(74,697)		(384,658)		(180,518)
Impairment of investments - reclassification to income statement		-		-		-
Market value adjustment to investments		-		-		-
Total comprehensive loss for the period		(74,697)		(384,658)		(180,518)
Loss per share, basic and fully diluted (in pence)		(1.8)		(11.1)		(5.4)

Condensed Statement of Financial Position

As at 30 September 2018

		30/09/2018		31/03/2018		30/09/2017
		Unaudited		Audited		Unaudited
		£		£		£
Non-current assets
Available for sale investments		112,500		112,500		112,500
Current assets
Trade and other receivables		176,216		0		7,800
Cash and cash equivalents		4,130		2,154		59,758
		180,346		2,154		67,558
Total assets		292,846		114,654		180,058
Equity
Ordinary shares		4,219		4,219		3,401
Deferred shares		189,897		189,897		189,897
Share premium		954,574		954,574		873,528
Share option reserve		80,300		80,300		13,160
Investment revaluation reserve		100,184		100,184		100,184
Retained earnings		(1,638,166)		(1,563,469)		(1,359,329)
		(308,992)		(234,295)		(179,159)
Current liabilities
Trade and other payables		601,838		348,949		359,217
Total equity and liabilities		292,846		114,654		180,058

Notes to the financial statements

Six months ended 30 September 2018

1. Basis of preparation

The financial statements for the six months ended 30 September 2018 are unaudited and do not constitute statutory accounts as defined in Section 434 of Companies Act 2006. The financial information for the year ended 31 March 2018 is extracted from the audited statutory accounts for the year then ended which have been delivered to the Registrar of Companies. The audit report on those accounts was unqualified and did not contain a statement under Section 498(2) or (3) of Companies Act 2006.

The financial information for the six months ended 30 September 2018 has been prepared on the basis of the accounting policies set out in the full annual financial statements of the company for the year ended 31 March 2018.

2. Earnings per share

The basic and diluted earnings per share is calculated by dividing the loss attributable to the owners of the company by the weighted average number of ordinary shares in issue during the period.

The weighted average number of shares in issue at 30 September 2018 was 4,219,157 (31 March 2018 3,455,865).

3. Investments		30/09/2018		31/03/2018		30/09/2017
		Unaudited		Audited		Unaudited
		£		£		£
Investments at cost less impairment		112,500		112,500		112,500
Impairments: Reclassified from reserves		0		0		0
Recognised in the year		0		0		0
Market value adjustment		0		0		0
Market value at period end		112,500		112,500		112,500