Half-year Report as of June 2017

 

 

daVictus plc

 

("daVictus" or the "Company")

Interim results for the 6 months ended 30 June 2017

 

 

Director's Statement

 

I am pleased to report the condensed financial statements of Davictus PLC (the "Company" or "Davictus") for the six months ended 30 June 2017.

 

For the first half of 2017, the Directors have actively discussed with potential target companies in the food and beverages ("F&B") sector - which operate in or own Western food and beverage F&B eatery franchises in South East Asia and/or the Far East, however, none of which has met the necessary criteria for selection to date.

 

While we continue our efforts to identify targets for acquisition, the Company has sufficient funds for general corporate purposes and pre-acquisition activities, including on-going costs and expenses such as Directors' fees and salaries, due diligence costs and other costs of sourcing, reviewing and to pursue potential acquisitions.

 

We are encouraged by both business opportunities and positive start we have made to the current year and we would always remain optimistic in respect of target acquisition.

 

During the reporting period, the Company reported a net loss of 54,010.

As at 30 June 2017, the Company had cash in bank of £569,953.

 

There are a number of potential risks and uncertainties which may have material impact on the Company's performance over the remaining six months of the financial year and could cause actual results to differ materially from expected and historical results. The directors do not consider any changes on the principal risks and uncertainties since the publication of the annual report for the year ended 31 December 2016, which contained a detailed explanation of the risks relevant to the Company, is also available at http://www.davictus.co.uk.

The Board looks forward to providing further updates to the shareholders in due course.

 

Responsibility Statement

 

The Directors are responsible for preparing the Condensed Financial Statements in accordance with the Disclosure and Transparency Rules of the United Kingdom's Financial Conduct Authority ('DTR') and with International Accounting Standard 34 on Interim Financial Reporting (IAS 34).

The directors confirm that, to the best of their knowledge, this condensed consolidated half-yearly report has been prepared in accordance with IAS 34, as adopted by the European Union. The interim management report includes a fair review of the information required by DTR 4.2.7 and DTR 4.2.8, namely:

·      an indication of important events that have occurred during the first six months and their impact on the condensed set of financial statements, and a description of the principal risks and uncertainties for the remaining six months of the financial year; and

·      material related-party transactions in the first six months and any material changes in the related-party transactions described in the last annual report.

 

 

 

 

Director

 

5 September, 2017

 

 

CONDENSED STATEMENT OF COMPREHESIVE INCOME (UNAUDITED)

FOR THE SIX MONTHS ENDED 30 JUNE 2017

	Notes		6 months period ended 30 June 2017		6 months period ended 30 June 2016
			£		£
			(Unaudited)		(Unaudited)
INCOME			-		-
			-		-
Interest income			-		238
Operating expenses			(54,010)		(193,376)
OPERATING PROFIT/LOSS BEFORE TAXATION			(54,010)		(193,138)
Income tax expense	3		-		-
LOSS FOR THE PERIOD ATTRIBUTABLE TO EQUITY HOLDERS OF THE COMPANY			(54,010)		(193,138)
Basic and diluted loss per share (pence)	4		(0.48) p		(3.21) p

 

  

 

 

CONDENSED STATEMENT OF FINANCIAL POSITION (UNAUDITED)AS AT  30 JUNE 2017

 

	Notes		As at 30 June 2017		As at 30 June 2016		As at 31 December 2016
			£		£		£
			(Unaudited)		(Unaudited)		Audited
CURRENT ASSETS
Other receivables Cash and cash equivalents			569,953		- 721,112		- 632,220
			569,953		721,112		632,220
CURRENT LIABILITIES
Other payables			14,779		10,470		23,354
Amount owing to directors			318		-		-
			15,097		10,470		23,354
NET ASSETS			554,856		710,642		608,866
EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE COMPANY
Stated capital Retained earnings	5		1,053,400 (498,544)		1,125,000 (414,358)		1,053,400 (444,534)
TOTAL EQUITY			554,856		710,642		608,866

 

 

 

 

 

 

 

CONDENSED STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED 30 JUNE 2017

			6 months period ended 30 June 2017		6 months period ended 30 June 2016
			£		£
			(Unaudited)		(Unaudited)
Cash flow from operating activities
Operating loss			(54,010)		(193,138)
Changes in working capital			(8,257)		(101,500)
Net cash flow from operating activities			(62,267)		(294,638)
Cash flow from financing activities
Issue of share capital			-		1,000,000
Net cash flow from financing activities			(62,267)		1,000,000
Net increase in cash and cash equivalents			(62,267)		705,362
Cash and cash equivalents at beginning of period			632,220		15,750
Cash and cash equivalents at end of period			569,953		721,112

 

 

 

 

 

STATEMENT OF CHANGES IN EQUITY (UNAUDITED)

FOR THE SIX MONTHS ENDED 30 JUNE 2017

 

Period from 1 January 2017 to 30 June 2017

 

	Stated capital		Retained earnings			Total
	£		£			£
As at 1 January 2017	1,053,400		(444,534)			608,866
Loss for the period	-		(54,010)			(54,010)
Total comprehensive loss for the period	-		(54,010)			(54,010)
As at 30 June 2017	1,053,400		(498,544)			554,856
Period from 1 January 2016 to 30 June 2016
	Stated capital		Retained earnings			Total
	£		£			£
As at 1 January 2016	125,000		(221,220)			(96,220)
Loss for the period	-		(193,138)			(193,138)
Total comprehensive loss for the period	-		(193,138)			(193,138)
Issue of ordinary shares	1,000,000		-			1,000,000
As at 30 June 2016	1,125,000		(414,358)			710,642

 

 

 

 

 

 

 

 

 

For the year ended 31 December 2016

 

	Stated capital		Retained earnings		Total
	£		£		£
As at 1 January 2016	125,000		(221,220)		(96,220)
Loss for the period	-		(223,314)		(223,314)
Total comprehensive loss for the period	-		(223,314)		(223,314)
Issue of ordinary shares	1,000,000		-		1,000,000
Share issuance costs	(71,600)		-		(71,600)
As at 31 December 2016	1,053,400		(444,534)		608,866