Half-Yearly Report
Wednesday 11th May 2011 at 15:15 GMT
ALPHA PROSPECTS PLC
("Alpha" or the "Company")
Interim Results for six months to 28 February 2011
Chairman's Report
I am pleased to present the unaudited financial results for Alpha Prospects Plc for the six month period ending 28 February 2011.
The loss for the period was GBP62,432 (2010: GBP35,027).
In December 2010, the Company announced that it had participated in a series of transactions resulting in Alpha holding an additional 65,292 ordinary shares in Hill Street Investments plc and Hill Street Investments plc investing GBP424,398 for 28,293,249 ordinary shares in Alpha. In addition, on 17 December 2010, Hill Street Investments notified Alpha that it had purchased an additional 6,912,543 ordinary shares in Alpha. Following these transactions, Hill Street Investment holds 26.12% of the issued share capital of Alpha.
Following this reporting period, the Company held its Annual General Meeting which approved the adoption of its new investment strategy which is to acquire or invest in listed and unlisted companies across a variety of sectors, including exploration and mining, digital media, publishing, electrical technology, food and wine and health and beauty. In addition Alpha will be looking to strengthen its board so as to widen its strategic focus and capabilities.
Steven Freudmann
Chairman
May 2011
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 28 FEBRUARY 2011
Interims |
Interims |
Final |
|
6 months ended 28-Feb 2011 |
6 months ended 28-Feb 2011 |
12 months ended 31-Aug 2010 |
|
GBP |
GBP |
GBP |
|
| TURNOVER | - |
-200 |
-200 |
| Administrative expenses | -62,435 |
-34,830 |
-386,067 |
| OPERATING LOSS | -62,435 |
-35,030 |
-386,267 |
| Profit on disposal of investments | - |
- |
- |
| Interest receivable | 3 |
3 |
6 |
| LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION | -62,432 |
-35,027 |
-386,261 |
| Tax on loss on ordinary activities | - |
- |
- |
| LOSS FOR THE FINANCIAL PERIOD EARNINGS PER SHARE | -62,432 |
-35,027 |
-386,261 |
| Basic EPS (pence) | -0.05 |
-0.04 |
-0.37 |
| Diluted EPS (pence) | -0.05 |
-0.04 |
-0.37 |
All amounts relate to continuing operations.
There were no recognised gains and losses for 2011 or 2010 other than those included in the profit and loss account
BALANCE SHEET
AS AT 28 FEBRUARY 2011
| 28-Feb 2011 | 28-Feb 2010 | 31-Aug 2010 | ||||
GBP |
GBP |
GBP |
GBP |
GBP |
GBP |
|
| FIXED ASSETS | ||||||
| Tangible fixed assets | 809 |
1,234 |
925 |
|||
| Fixed asset investments | 586,851 |
154,688 |
202,398 |
|||
587,660 |
155,922 |
203,323 |
||||
| CURRENT ASSETS | ||||||
| Debtors: amounts falling due after more than one year | 251,200 |
312,200 |
251,200 |
|||
| Debtors: amounts falling due within one year | 9,922 |
27,379 |
3,523 |
|||
| Cash at bank | 27, 264 |
52,121 |
49,235 |
|||
288,386 |
391,700 |
303,958 |
||||
| CREDITORS: amounts falling due within one year | -20,642 |
-2,950 |
-13,843 |
|||
| NET CURRENT ASSETS | 267,744 |
388,750 |
290,115 |
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 855,404 |
544,672 |
493,438 |
|||
| CAPITAL AND RESERVES | ||||||
| Called up share capital | 673,800 |
472,334 |
532,334 |
|||
| Share premium account | 974,509 |
451,577 |
691,577 |
|||
| Profit and loss account | -792,905 |
-379,239 |
-730,473 |
|||
| SHAREHOLDERS' FUNDS | 855,404 |
544,672 |
493,438 |
|||
The financial information contained in this announcement has not been reviewed by the Company's auditor.
The Directors of the Company accept responsibility for the announcement.
Enquiries:
| ALPHA PROSPECTS PLC | Christopher Foster | +44 203 176 3031 |
| RIVINGTON STREET CORPORATE FINANCE | Eran Zucker | +44 207 562 3373 |