Semi-annual Financial Statements
AMERICAPITAL PLC: Semi-annual financial statements
The Directors of Americapital PLC (GXG ACL: G4) ("the company") wishes to
announce today that its Semi-annual financial statements are prepared and will
be posted their website and filed with GXG Markets on the 12th of November
2013. This information will also be posted on the company website and with GXG
markets on the 12th of November 2013.
As a result of this, the financial accounts previously posted on the GXG
markets exchange website will be updated.
The Directors take responsibility for this statement.
-------
Safe Harbor Statement: The statements contained herein which are not
historical are forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially from those
expressed in the forward-looking statements, including, but not limited to,
certain delays beyond the company's control with respect to market-acceptance
of new technologies or products, and other risks detailed from time to time.
For more information:
Company: Americapital PLC,
Ticker Symbol ACL
ISIN: GB00B7YMX237
Website: www.americapital.co.uk
Company Registration No. 07877347 (England and Wales)
AMERICAPITAL PLC
ANNUAL REPORT
FOR THE SIX MONTH PERIOD ENDED
30 JUNE 2013
AMERICAPITAL PLC
DIRECTORS AND ADVISERS
Directors Viktor Sauter (Appointed 14 March 2012)
Garth Dwain Jensen (Appointed 22 August 2013)
Secretary David Venus & Company LLP
Company number 07877347
Registered office Thames House Portsmouth Road Esher
Surrey
United Kingdom
KT10 9AD
AMERICAPITAL PLC
CONTENTS
Page
Directors' report 1 - 2
Consolidated profit and loss account 3
Balance sheets 4
Consolidated cash flow statement 5
Notes to the consolidated cash flow statement 6
Notes to the financial statements 7 - 12
AMERICAPITAL PLC
DIRECTORS' REPORT
FOR THE SIX MONTH PERIOD ENDED 30 JUNE 2013
The directors present their report and financial statements for the
six month period ended 30 June 2013.
Principal activities and review of the business
The principal activity of the company is that of a holding company.
Results and dividends
The consolidated profit and loss account for the year is set out on Page 5
Directors
The following directors have held office since 1 January 2012:
Viktor Sauter (Appointed 14 March 2012) Willy Geullaume (Resigned
22 August 2013) Garth Dwain Jensen (Appointed 22 August 2013)
Statement of directors' responsibilities
The directors are responsible for preparing the Directors' Report and the
financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements
for each financial year. Under that law the directors have elected to prepare
the financial statements in accordance with United Kingdom Generally Accepted
Accounting Practice (United Kingdom Accounting Standards and applicable law).
Under company law the directors must not approve the financial statements
unless they are satisfied that they give a true and fair view of the state of
affairs of the company and of the group and of the profit or loss of the group
for that period. In preparing these financial statements, the directors are
required to:
- select suitable accounting policies and then apply them
consistently;
- make judgements and accounting estimates that are reasonable and
prudent;
- state whether applicable UK Accounting Standards have been followed, subject
to any material departures disclosed and explained in the financial
statements;
- prepare the financial statements on the going concern basis
unless it is inappropriate to presume that the group will continue in business.
The directors are responsible for keeping adequate accounting
records that are sufficient to show and explain the company's transactions and
disclose with reasonable accuracy at any time the financial position of the
company and the group and enable them to ensure that the financial statements
comply with the Companies Act 2006. They are also responsible for safeguarding
the assets of the company and the group and hence for taking reasonable steps
for the prevention and detection of fraud and other irregularities.
- 1 -
AMERICAPITAL PLC
DIRECTORS' REPORT
FOR THE SIX MONTH PERIOD ENDED 30 JUNE 2013
Statement of disclosure to auditors
So far as the directors are aware, there is no relevant audit
information of which the group's auditors are unaware. Additionally, the
directors have taken all the necessary steps that they ought to have taken as
directors; in order to make themselves aware of relevant audit information and
to establish that the group's auditors are aware or that information.
On behalf of the Board
Company Secretary
- 2 -
AMERICAPITAL PLC
CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE SIX MONTH PERIOD ENDED 30 JUNE 2013
2013
Notes £
Administrative expenses (42,827)
Loss on ordinary activities before taxation 3 (42,827)
Tax on (loss)/profit on ordinary activities 4 -
Loss on ordinary activities after taxation (42,827)
The profit and loss account has been prepared on the basis that all operations
are continuing operations. There are no recognized gains and losses other than
those passing through the profit and loss account.
- 3-
AMERICAPITAL PLC
BALANCE SHEETS
AS AT 30 JUNE 2013
Group Company
2013 2013
£ £
Assets
Notes
Cash in Bank 184,491 161,923
Creditors: amounts falling due within one year 9 (3,055,385) (12,000)
Fixed assets
Tangible assets 6 12,518,378
Investments 7 2,630,705 12,061,930
Total Assets 12,278,189 12,211,853
Liabilities & Equity
Debtors 8 205,462 204,750
Total Current Liabilities 205,462 204,750
Capital and reserves
Called up share capital 10 12,061,930 12,061,930
Profit and loss account 11 10,797 (54,827)
Total Liabilities & Equity 12 12,278,189 12,211,853
Approved by the Board & authorized for issue on
11 November 2013
Viktor Sauter
Director
Company Registration No. 07877347
- 4-
AMERICAPITAL PLC
CONSOLIDATED CASH FLOW STATEMENT
FOR THE SIX MONTHS ENDED 30 JUNE 2013
2013
£ £
Net cash inflow/(outflow) from operating activities (42,827)
Capital expenditure
Payments to acquire intangible assets 0
Payments to acquire tangible assets 0
Net cash outflow for capital expenditure 0
Net cash outflow before management of liquid resources
and financing (42,827)
Financing
Shareholder Loan 204,750
Issue of ordinary share capital 0
Issue of preference share capital 0
Cash from Financing 204,750
Decrease in debt 0
Net cash inflow/(outflow) from financing 204,750
Decrease in cash in the year 161,923
-5-
AMERICAPITAL PLC
NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE SIX MONTHS ENDED 30 JUNE 2013
1 Reconciliation of operating loss to net cash
inflow/(outflow) from operating activities 2013
£
Operating (loss)/profit (42,827)
Increase in debtors 0
Increase in creditors within one year 0
Net cash inflow/(outflow) from operating (42,827)
activities
2 Analysis of net debt 1 January 2012 Cash flow Other non-
cash changes
£ £ £
Net cash:
Net debt - - -
3 Reconciliation of net cash flow to movement in net debt 2013
£
Decrease in cash in the year -
Movement in net debt in the year -
Opening net debt -
Closing net debt -
- 6-
AMERICAPITAL PLC
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 30 JUNE 2013
1 Accounting policies
1.1 Accounting convention
The financial statements are prepared under the historical cost
convention.
1.2 Compliance with accounting standards
The financial statements are prepared in accordance with applicable
United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice), which have been applied consistently (except as
otherwise stated).
1.3 Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost
less depreciation. Depreciation is provided at rates calculated to write off
the cost less estimated residual value of each asset over its expected usef ul
life, as follows:
Land and buildings Freehold - Nil
1.4 Investments
Fixed asset investments are stated at cost less provision for
diminution in value.
1.5 Deferred taxation
Deferred taxation is provided in full in respect of taxation
deferred by timing differences between the treatment of certain items for
taxation and accounting purposes. The deferred tax balance has not been
discounted.
1.6 Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies
are translated into sterling at the rates of exchange ruling at the balance
sheet date. Transactions in foreign currencies are recorded at the rate ruling
at the date of the transaction. All differences are taken to profit and loss
account.
2 Turnover
The total turnover of the group for the year has been derived from
its principal activity wholly undertaken in the United Kingdom.
3 Operating loss 2013
£
Operating loss is stated after charging:
Fees payable to the group's auditor for
the audit of the group's annual accounts
(company £5,400; 2012: £-6,000) 5,400
- 7-
4 Taxation 2013
Total current tax -
Factors affecting the tax charge for the period
Loss on ordinary activities before taxation (42,827)
Loss on ordinary activities before taxation
multiplied by standard rate of UK corporation
tax of 0.00% (2012 - 0.00%) -
Current tax charge for the period -
5 Loss for the financial year
As permitted by section 408 Companies Act 2006, the holding company's profit
and loss account has not been included in these financial statements. The loss
for the financial year is made up as follows:
2013
£
Holding company's loss for the financial period (42,827)
6 Tangible fixed assets
Group Land and buildings
Freehold
£
Cost
At 1 January 2012 & at 31 December 2012 12,518,378
Depreciation
At 1 January 2012 & at 31 December 2012 -
Net book value
At 31 December 2012 12,518,378
At 31 December 2011 -
Tangible fixed assets consist of land, which is stated here at revalued amount.
- 8-
7 Fixed asset investments
Group
Capitalised
Revenue
Expenditure
£
Cost
At 1 January 2012 -
Additions 2,630,705
At 31 December 2012 2,630,705
Net book value
At 31 December 2012 2,630,705
Certain revenue expenditure was capitalised during the period and is stated at
original cost.
Company
Shares in group
undertakings
£
Cost
At 1 January 2012 & at 31 December 2012 12,061,930
Net book value
At 31 December 2012 12,061,930
In the opinion of the directors, the aggregate value of the company's
investment in subsidiary undertakings is not less than the amount included in
the balance sheet.
Holdings of more than 20%
The company holds more than 20% of the share capital of the following
companies:
Company Country of registration or Shares held
incorporation
Subsidiary undertakings
Class %
Ecuador Properties S.A Ecuador Ordinary 100
Americapital S.A Ecuador Ordinary 100
The principal activity of these undertakings for the last relevant financial
year was as follows:
- 9-
Ecuador Properties S.A Purchase, sale and management
of land and rainforest
timber
Americapital S.A Analysis, research and advice
on investment opportunities
in Ecuador
8 Debtors
Group Company
2013 2013
£ £
Other debtors 205,462 204,750
9 Creditors: amounts falling due within one year
Group Company
2013 2013
£ £
Director's current accounts 3,043,835 -
Accruals and deferred income 12,000 12,000
3,055,835 12,000
10 Share capital 2013
£
Allotted, called up and fully paid
15,000,367 Ordinary Shares of 16p each 2,452,110
29,392,323 Preference Shares of 33p each 9,609,820
12,061,930
- 10-
11 Statement of movements on profit and loss account
Group Profit and
loss account
£
Loss for the year (42,827)
Goodwill on capitalisation 44,030
Balance at 30 June 2013 (1,203)
Company Profit and
loss account
£
Loss for the year (42,827)
12 Reconciliation of movements in shareholders' funds 2013
Group £
Loss for the financial year (42,827)
Proceeds from issue of shares 12,061,930
Goodwill on capitalisation 44,030
Net addition to shareholders' funds 0
Opening shareholders' funds 0
Closing shareholders' funds 12,063,133
2013
Company £
Loss for the financial year (42,827)
Proceeds from issue of shares 12,061,930
Net addition to shareholders' funds 12,019,103
Opening shareholders' funds -
Closing shareholders' funds 12,019,103
- 11-
13 Employees
Number of employees
There were no employees during the year apart from the directors
-12-
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