PR Newswire
London, June 8
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY SPORT CAPITAL GROUP PLC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
SPORT CAPITAL GROUP PLC
(the “Company”)
RESULTS FOR YEAR ENDED 31STDECEMBER 2019
Chairman’s Statement
I present below the audited financial results for the year ended 31stDecember 2019. The financial statements below do not constitute the full statutory accounts of the Company but are extracted from them. The Annual Report and Accounts will be posted to shareholders on 8thJune 2020, from which date a copy will also be available on the Company’s website www.scgplc.co.uk.
Review of business
The Company has been seeking potential acquisitions and investment opportunities since its flotation on the Aquis Exchange Growth Market (formerly NEX Exchange Growth Market).
The loss for the year before and after taxation was £63,171 (2018: £7,973). Cash in the bank at the end of December 2019 was £11,845 (2018: £9,776).
On 28th June 2019, Mr. John Treacy resigned from the Board. At the same time, Mr. Mark Jackson re-joined the Board.
The Company retains its investment property in Leeds, which has remained let throughout 2019 on a three-year lease due to expire in August 2021 to a commercial tenant which is.
Future developments
The Directors remain focused on looking for opportunities where businesses or companies that they consider have the potential to produce profits/cash-flow for investors in the short- to medium-term.
Principal risks and uncertainties
Given the nature of the business and activity of the Company, the Directors believe that the Company is not exposed to significant risks other than liquidity risk. The Company's continued future operations depend on the ability to hold sufficient working capital to be able to meet its financial obligations. The Directors are confident that there is adequate funding to finance its immediate working capital requirements.
Simon Grant-Rennick,
Chairman,
5th June 2020
SPORT CAPITAL GROUP PLC
STATEMENT OF PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2019
| 2019 | 2018 | ||
| Note | £ | £ | |
| Turnover | 4 | 20,180 | 10,243 |
| Cost of sales | 348 | 22,971 | |
| ------------ | ----------- | ||
| Gross profit/(loss) | 19,832 | (12,728) | |
| Administrative expenses | 62,120 | 36,201 | |
| ------------ | ----------- | ||
| Operating loss | (42,288) | (48,929) | |
| Interest payable and similar expenses | 6 | 10,000 | 5,548 |
| ------------ | ----------- | ||
| Loss before taxation | (52,288) | (54,477) | |
| Tax on loss | 7 | 10,883 | (46,504) |
| ----------- | ----------- | ||
| Loss for the financial year and total comprehensive income | (63,171) | (7,973) | |
| ======== | ======== | ||
Earnings per share
| Basic loss per share (pence per share) | 8 | (0.053) | (0.008) |
| Diluted loss per share (pence per share) | 8 | (0.050) | (0.007) |
| ======== | ======== | ||
All the activities of the company are from continuing operations.
SPORT CAPITAL GROUPPLC
STATEMENT OF BALANCE SHEET
FOR THE YEAR ENDED 31 DECEMBER 2019
| 2019 | 2018 | |
| Note | £ | £ |
Fixed assets
| Tangible assets | 9 | 204,436 | 204,436 |
| Investments | 10 | 65,250 | 57,410 |
| ------------ | ------------ | ||
| 269,686 | 261,846 | ||
Current assets
| Debtors | 11 | 40,214 | 50,203 |
| Cash at bank and in hand | 11,845 | 9,776 | |
| ---------- | ---------- | ||
| 52,059 | 59,979 | ||
| Creditors: amounts falling due within one year | 12 | 115,262 | 116,171 |
| ----------- | ----------- | ||
| Net current liabilities | 63,203 | 56,192 | |
| ----------- | ----------- | ||
| Total assets less current liabilities | 206,483 | 205,654 | |
| ----------- | ----------- | ||
| Net assets | 206,483 | 205,654 | |
| ======== | ======== | ||
Capital and reserves
| Called up share capital | 14 | 119,234 | 97,990 |
| Share premium account | 15 | 336,482 | 293,726 |
| Profit and loss account | 15 | (249,233) | (186,062) |
| ----------- | ----------- | ||
| Shareholders’ funds | 206,483 | 205,654 | |
| ======== | ======== | ||
These financial statements were approved by the board of directors and authorised for issue on 5thJune 2020, and are signed on behalf of the board by:
Mr Grant-Rennick
Director
This announcement has been made after due and careful consideration; the Directors of the Company accept responsibility for the information contained in it.
REGULATORY ANNOUNCEMENT ENDS
Enquiries:
Sport Capital Group plc:
Simon Grant-Rennick
E-mail: [email protected]
Mob: +44 797 325 3124
Keith, Bayley, Rogers & Co. Limited (Aquis Exchange Corporate Adviser):
Graham Atthill-Beck
E-mail: [email protected]
Tel: +44 20 7464 4091
Mob: +44 750 643 4107; +971 50 856 9408
Brinsley Holman
E-mail: [email protected]
Tel: +44 20 7464 4098
Mob: +44 777 630 2228
