Lombard Capital PLC - Half-year Report

Lombard Capital PLC - Half-year Report

PR Newswire

London, December 30

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

UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2019

CHAIRMAN'S STATEMENT

Dear shareholder

Your current board of directors continues to focus on investment opportunities and the issuance of asset backed investment bonds. Our bonds are listed on Vienna stock exchange.

My report for the 6 months unaudited figures to 30^thSeptember 2019 shows a comprehensive loss of GBP 427,212. This loss is attributable to the operating expenses incurred during the period.

During the period LCP Financial Limited (a wholly owned subsidiary of Lombard Capital Plc) has issued bonds to raise funds for a number of different investment transactions that are at various stages of completion and are looking positive. The directors of LCP Financial Limited are using their best endeavours to achieve a timely completion of all transactions.

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.

30th December 2019

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 2019

		6 Months ended		Year ended		6 Months ended
		30/09/2019		31/03/2019		30/09/2018
		Unaudited		Audited		Unaudited
		£		£		£
Continuing operations
Investment income		-		-		-
Operating expenses		(427,212)		(292,337)		(74,697)
Finance charges		-		(29,469)		-
Impairment of investments		-		-		-
Operating loss and loss before taxation		(427,212)		(321,806)		(74,697)
Taxation		-		-		-
Loss for the period, attributable to the owners		(427,212)		(321,806)		(74,697)
Impairment of investments - reclassification to income statement		-		-		-
Market value adjustment to investments		-		18,750		-
Total comprehensive loss for the period		(427,212)		(303,056)		(74,697)
Loss per share, basic and fully diluted (in pence)		(10.1)		(9.3)		(1.8)

Condensed Statement of Financial Position

As at 30 September 2019

		30/09/2019		31/03/2019		30/09/2018
		Unaudited		Audited		Unaudited
		£		£		£
Non-current assets
Available for sale investments		131,250		131,250		112,500
Financial assets at amortised cost		653,350		700,700		-
		784,600		831,950		112,500
Current assets
Trade and other receivables		182,344		41,296		176,216
Cash and cash equivalents		51,494		12,059		4,130
		233,838		53,355		180,346
Total assets		1,018,438		885,305		292,846
Equity
Ordinary shares		4,219		4,219		4,219
Deferred shares		189,897		189,897		189,897
Share premium		954,574		954,574		954,574
Share option reserve		80,300		80,300		80,300
Investment revaluation reserve		118,934		118,934		100,184
Retained earnings		(2,312,487)		(1,885,275)		(1,638,166)
		(964,563)		(537,351)		(308,992)
Current liabilities
Trade and other payables		764,000		672,656		601,838
Loans and other borrowings		1,219,000		750,000		-
Total equity and liabilities		1,018,438		885,305		292,846

Notes to the financial statements

Six months ended 30 September 2019

1. Basis of preparation

The financial statements for the six months ended 30 September 2019 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 2019 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 2019.

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 2019 was 4,219,157 (31 March 2019 4,219,157).

3. Investments		30/09/2019		31/03/2019		30/09/2018
		Unaudited		Audited		Unaudited
		£		£		£
Investments at cost less impairment		131,250		131,250		112,500
Impairments: Recognised in the year		-		-		-
Market value adjustment		-		-		-
Market value at period end		131,250		131,250		112,500