A2D Funding PLC Annual Financial Report (4550G)
05 Agosto 2016 - 5:26PM
UK Regulatory
TIDMA2D1
RNS Number : 4550G
A2D Funding PLC
05 August 2016
A2D FUNDING PLC
AUDITED RESULTS FOR THE YEAR ENDING 31 MARCH 2016
A2D Funding plc (LSE: A2D1) announces its audited results for
the period ended 31 March 2016.
The following is an extract from the Company's financial
statements which will be posted to shareholders on or around 08
August 2016.
Company summary
A2D Funding plc ("the Company") is a special purpose company
established for the purpose of issuing Bonds (including further
bonds issued in accordance with the Conditions) and lending the
proceeds thereof to A2Domionion Housing Group Limited
("A2Dominion") or one or more of its subsidiaries.
Business review
On 18 October 2013 the Company issued GBP150,000,000 4.75%
Guaranteed Bonds due 2022. The principal amount raised from issuing
the Retail Bonds was on-lent to A2Dominon.
The directors elected to shorten the Accounting Reference Date
("ARD") in line with the ARD of the A2Dominion Housing Group
Limited, the Company's controlling party
Principal risks and uncertainties
The principal risks and uncertainties for the Company are
primarily credit and interest rate risks. These include the correct
and timely receipt of interest and principal on the loan due from
A2Dominion and, to that effect during the period under review, all
amounts were paid completely and timely when they were due.
The directors have considered the nature and structure of the
Company and are satisfied that there is sufficient capital in
relation to the business activities of the Company and levels of
planned financial performance.
Events after the balance sheet date
There have been no reportable events since 31 March 2016.
Related party transactions
A2Dominion is a related party and significantly all transactions
are with them, these have been disclosed in the year end finalised
statements.
On behalf of the Board
Law Debenture Corporate Services Limited (Company Secretary)
05 August 2016
INCOME STATEMENT
For the period ended 31 March 2016
Period Year to
19 October 18 October
2015 to 2015
31 March
2016
GBP000 GBP000
------------------------- ------------ -------------
Interest receivable
and similar income 3,253 7,215
Interest payable and
similar charges (3,252) (7,213)
-------------------------- ------------ -------------
Gross profit 1 2
Other operating income 30 49
Administrative expenses (30) (50)
-------------------------- ------------ -------------
Profit on ordinary
activities before
taxation 1 1
Taxation - -
------------------------- ------------ -------------
Profit for the period
/ year 1 1
-------------------------- ------------ -------------
There are no recognised gains or losses other than the result
for the period stated above. Accordingly, no statement of total
recognised gains and losses is given.
BALANCE SHEET
As at 31 March 2016
31 March 18 October
2016 2015
GBP000 GBP000
-------------------------- ---------- -----------
Financial assets
Loans and receivables 149,423 149,383
--------------------------- ---------- -----------
Current assets
Debtors: Amounts falling 3,244 -
due within one year
Cash at bank 16 33
--------------------------- ---------- -----------
3,260 33
Financial liabilities:
Amounts falling due
within one year (3,244) (18)
--------------------------- ---------- -----------
Net current assets 16 15
--------------------------- ---------- -----------
Total assets less
current liabilities 149,439 149,398
Financial liabilities:
Amounts falling due
after more than one
year (149,423) (149,383)
--------------------------- ---------- -----------
Net assets 16 15
--------------------------- ---------- -----------
Capital and reserves
Called up share capital 13 13
Profit and loss account 3 2
--------------------------- ---------- -----------
Shareholders' funds 16 15
--------------------------- ---------- -----------
STATEMENT OF CHANGES IN EQUITY
For the year ended 31 March 2016
Profit and
Share capital loss account Total
GBP000 GBP000 GBP000
Total equity as at
18 October 2015 13 2 15
--------------------- ---------------- -------------- --------
Net profit for the
period - 1 1
Total equity as at
31 March 2016 13 3 16
--------------------- ---------------- -------------- --------
CASH FLOW STATEMENT
For the period ended 31 March 2016
Period
19 October
2015 to Year to
31 March 18 October
2016 2015
GBP000 GBP000
Operating activities
Profit on ordinary
activities before
taxation 1 1
Increase in debtors (3,244) -
Increase in creditors 3,226 6
----------------------------------------- ------------ -------------
Cash flow from operating
activities (17) 7
----------------------------------------- ------------ -------------
Net (decrease) / increase in
cash and cash equivalents (17) 7
----------------------------------------- ------------ -------------
Cash and cash equivalent at beginning
of period / year 33 26
----------------------------------------- ------------ -------------
Cash and cash equivalent at end
of period / year 16 33
----------------------------------------- ------------ -------------
Directors' responsibility statement
We confirm that to the best of our knowledge:
(a) the financial statements, prepared in accordance with the
applicable set of accounting standards, give a true and fair view
of the assets, liabilities, financial position and profit or loss
of the issuer and the undertakings included in the consolidation
taken as a whole; and
(b) the management report includes a fair review of the
development and performance of the business and the position of the
issuer and the undertakings included in the consolidation taken as
a whole, together with a description of the principal risks and
uncertainties that they face.
On behalf of the board
Sharon Martin
Representing L.D.C. Corporate Director No.3
05 August 2016
- ENDS-
For further information contact:
Law Debenture Corporate Services Limited (Company Secretary) +44
20 7606 5453
This information is provided by RNS
The company news service from the London Stock Exchange
END
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