EARLY EQUITY PLC
("Early Equity" or the "Company")
UNAUDITED FINAL RESULTS FOR THE YEAR ENDING 31 AUGUST 2014
CHAIRMAN REPORT
Early Equity Plc is pleased to present its unaudited financial results for the
year ended 31 August 2014.
The Company continues to operate with minimal overheads while the seeking to
implement its investment strategy. The loss for the year was GBP89,392 (2013:
GBP251,679) representing a loss per share of 0.04p (2013: 0.10p). Further
announcements will be made as and when there are further developments.
Christopher Neo - Executive Director
30 January 2015
CONSOLIDATED STATEMENT OF
COMPREHENSIVE INCOME FOR 12 MONTHS TO
31 AUGUST 2014
12 months 12 months 6 months
to to to
31 August 31 August 28
2014 2013 February
2014
CONTINUING OPERATIONS GBP GBP GBP
TURNOVER - - -
OTHER INCOME 1 - 1
ADMINISTRATIVE EXPENSES (85,960) (174,351) (49,196)
OTHER OPERATING EXPENSES (2,809) (76,697) 136
FINANCE COSTS (624) (631) (205)
(LOSS) BEFORE TAX (89,392) (251,679) (49,264)
INCOME TAX - - -
(LOSS) FOR THE YEAR / PERIOD (89,392) (251,679) (49,264)
OTHER COMPREHENSIVE INCOME / (LOSS) - - -
TOTAL COMPREHENSIVE LOSS FOR THE YEAR (89,392) (251,679) (49,264)
/ PERIOD
BASIC AND DILUTED LOSS PER SHARE (0.04)p (0.10)p (0.02)p
CONSOLIDATED STATEMENT OF FINANCIAL
POSITION AS AT 31 AUGUST 2014
12 months 12 months 6 months
to to to
31 August 31 August 28
2014 2013 February
2014
GBP GBP GBP
INVESTMENTS
Available-for-sale financial assets 156,050 133,118 132,911
CURRENT ASSETS
Trade and other receivables 26,677 10,152 12,878
Cash and cash equivalents 9,399 44,000 73,426
36,076 54,152 86,304
CURRENT LIABILITIES
Trade and other payables (9,226) (29,822) (23,176)
Unsecured loan (81,967) - (78,117)
(91,194) (29,822) (101,294)
NET CURRENT ASSETS / (LIABILITIES) (55,118) 24,330 (14,990)
NET ASSETS 100,932 157,448 117,921
REPRESSENTING:-
Share capital 424,623 424,623 424,623
Share premium 211,090 211,090 211,090
635,713 635,713 635,713
Fair value reserve 31,964 21,935 8,825
Accumulated losses (566,745) (500,200) (526,617)
SHAREHOLDERS FUNDS 100,932 157,448 117,921
The unaudited Final Results are prepared in accordance with International
Financial Reporting Standards (IFRS). The financial information contained in
this statement, relating to the year ended 31 August 2014, has not been audited
or reviewed by the Company's auditors and does not constitute statutory
accounts.. A copy of the Company's audited financial statements for the year
ended 31 August 2014 will be posted to shareholders as soon as completed
together with a notice of Annual General Meeting.
If it becomes known to the Directors of the Company that the audit report is to
be qualified or is modified in relation to going concern or otherwise, the
terms of such qualification or modification will be announced immediately.
The Directors do not propose to pay a dividend for the reported period.
Early Equity has complied with Guidance Note 69.1 of the ISDX Growth Market -
Rules for Issuers (which relates to the number of directorships held by
directors) throughout the financial year ended 31 August 2013, save in respect
of Mr Collier. Mr Collier currently holds a greater number of directorships
than the maximum proposed in the Guidance Note. Mr Collier is taking
appropriate measures to address this situation.
The Directors of the Company accept responsibility for the announcement.
Enquiries:
Early Equity Plc
Tel: +44 (0)7830 182501
Greg Collier
Peterhouse Corporate Finance Limited
Tel: +44 (0)20 7469 0934
Fungai Ndoro and Mark Anwyl
