Gledhow Investments plc (GDH) Gledhow Investments plc: Audited
Results to 30 September 2021 and Notice of AGM 21-Jan-2022 / 11:00
GMT/BST Dissemination of a Regulatory Announcement that contains
inside information according to REGULATION (EU) No 596/2014 (MAR),
transmitted by EQS Group. The issuer is solely responsible for the
content of this announcement.
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21 January 2022
Gledhow Investments plc
("Gledhow" or the "Company")
AQSE: GDH Audited Final Results to 30 September 2021 Notice of
Annual General Meeting
Director Statement:
I have pleasure in presenting your company's Annual Report and
Financial Statements for the year ended 30 September 2021.
Your directors continue to follow the same investment strategy,
namely to invest in small to medium sized undervalued or fast
growing companies, with the investment objective of achieving long
term capital growth in excess of the FTSE All Share Index.
The Company had cash of GBP524,643 at the year-end (2020:
GBP382,396). The pre-tax profit was GBP841,890 (2020: pre-tax
profit of GBP507,686).
During the year, the Company did an equity issue to raise GBP
GBP850,000. The placees also received one Subscriber Warrant for
every two Ordinary Shares subscribed for, with an exercise price of
GBP0.03 per share. The Subscriber Warrants can be exercised at any
time following the General Meeting, that was held on 21 July 2021,
for a period of 18 months.
The Company has continued to build up positions in AIM, LSE and
Aquis Exchange traded companies, including those companies at early
stages of development, and some pre-IPO investments. Of the
companies in the portfolio at the year end, the Company held
approximately 38% in AQSE Growth Market companies, approximately
55% in AIM and LSE quoted/listed companies, and a small percentage
in private companies, having invested on a pre-IPO basis. The
Directors caution that there is a historically perceived lack of
liquidity generally in AQSE Growth Market traded companies and that
these investments may not be readily realisable into cash.
The Company was not impacted by the Covid-19 pandemic during the
year.
The Company does not recommend the payment of a dividend for the
year end to 30 September 2021.
The Notice of Annual General Meeting is set out at the back of
the annual report and accounts and can be found at the end of this
announcement.
The Directors of the Company accept responsibility for the
contents of this announcement. G R Miller
Managing Director
21 January 2022
Enquiries:
Guy Miller: + 44 (0) 7220 9795 (Gledhow Investments plc)
Statement of Comprehensive Income for the year ended 30 September
2021
2021 2020
GBP GBP
Turnover 1,909,593 1,689,884
Cost of sales (948,341) (1,115,439)
Gross profit
961,252 574,445
Administrative expenses (119,362) (66,759)
Profit before taxation
841,890 507,686
Taxation (159,959) (96,460)
Profit for the financial year
681,931 411,226
Total comprehensive income for the year 681,931 411,226
Basic profit per share (pence) 1.05p 0.84p
Diluted profit per share (pence) 1.01p 0.83p
The income statement has been prepared on the basis that all
operations are continuing operations. Statement of Financial
Position as at 30 September 2021
2020 2020
GBP GBP
Current assets
Investments held for resale 2,356,250 1,089,389
Debtors 108,456 4,080
Cash at bank and in hand 524,643 382,396
2,989,349 1,475,865
Creditors: amounts falling due within one year (212,713) (180,160)
Net current assets and total assets less current liabilities
2,776,636 1,295,705
Capital and reserves
Called up share capital 975,714 490,000
Share premium account 384,408 71,122
Profit and loss account 1,366,546 640,513
Other reserve 49,968 94,070
Shareholders' funds - equity interests
2,776,636 1,295,705
The financial statements were approved by the Board and
authorised for issue on 21 January 2022. G R Miller
Director
Company No. 03848331 Statement of Changes in Equity for the year
ended 30 September 2021
Profit and loss
Share Share reserve Other
capital premium reserve
GBP Total
GBP GBP GBP
Notes GBP
Balance at 1 October 2019 490,000 71,122 229,287 94,070 884,479
Year ended 30 September 2020:
Profit for the year - - 411,226 - 411,226
Total comprehensive income for the year
- 411,226
- - 411,226
Credit to equity for equity settled share
based payments
- - - - -
Balance at 30 September 2020 490,000 640,513
71,122 94,070 1,295,705
Year ended 30 September 2021:
Profit for the year - 681,931
- - 681,931
Total comprehensive income for the year
- 681,931
- - 681,931
Credit to equity for equity settled share
based payments
14 - -
- - -
Transfer of share-based payment reserve on
lapsed warrants
- - 44,102 (44,102) -
Share issue 13 485,714 -
364,286 - 850,000
Share issue expenses - (51,000) - - (51,000)
Balance at 30 September 2021 975,714 1,366,546
384,408 49,968 2,776,636
Statement of Cash Flows for the year ended 30 September 2021
2021 2020
Notes GBP GBP
Cash flows from operating activities
Cash used in operations 15 (254,684) (2,364)
Taxation paid (96,460) (18,398)
Net cash outflow from operating activities
(351,144) (20,762)
Investing activities
Proceeds from disposal of investments 1,909,593 1,689,883
Purchase of investments (2,215,202) (1,411,565)
Dividends received - -
Net cash (used in)/generated from investing activities
(305,609) 278,318
Financing activities
Net proceeds from issue of shares 799,000 -
Net cash generated from financing activities
799,000 -
Net increase in cash and cash equivalents
142,247 257,556
Cash and cash equivalents at beginning of year 382,396 124,840
Cash and cash equivalents at end of year
524,643 382,396
Relating to:
Cash at bank and in hand 524,643 382,396
Notice of Annual General Meeting
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