St Mark Homes II plc
Interim report (unaudited)
Six month period ended
30 June 2008
ST MARK HOMES II PLC
Unaudited Interim Report for the six month period ended 30 June 2008
1. Review of operations
2. Unaudited profit & loss account
3. Notes to the unaudited profit & loss account
ST MARK HOMES II PLC
Review of Operations for the six month period ended 30 June 2008
The Directors announce interim results for six months ended 30 June 2008. A pre
tax loss of £26,048 arose during the period as a result of costs incurred
carrying out non recoverable remedial works on completed contracts.
During the previous period the company provided working capital for residential
development schemes in Ruislip , Harrow and Twickenham .
Construction is anticipated to be complete at Ruislip during the final quarter
of this year and at Harrow during the first half of 2009. Ruislip has been
pre-sold off plan and over 90% of units in Harrow have been also been pre-sold.
Planning was obtained on the Twickenham site for a 27 unit scheme in May 2008.
It is anticipated construction will commence in early 2009.
The company has recognized the fixed interest element of its return on
investment in these schemes but does not recognize its share of development
profit until the projects are sufficiently progressed to assess the
profitability with a reasonable degree of accuracy. In the current uncertain
economic climate development profits will not be recognized until scheme sales
are complete.
Signed on behalf of the board
S Ryan
Director
ST MARK HOMES II PLC
Unaudited profit & loss account for the six month period ended 30 June 2008
6 Months 6 Months
ended ended
30 June 30 June
Note 2008 2007
GBP GBP
Turnover 1 - -
Cost of sales 33,548 12,870
Gross profit (33,548) (12,870)
Administrative expenses 85,659 85,915
Operating loss (120,207) (98,785)
Interest receivable 94,239 89,210
Interest payable and similar charges (80) (335)
(Loss)/Profiton ordinary activities before (26,048) (9,910)
taxation
Taxation on loss on ordinary activities 2 (7,293) (2,973)
(Loss)/Profitfor the (18,755) (6,937)
period
(Loss)/Profitper share 3 (0.63p) (0.33p)
These interim financial statements were approved by the board on 30 September
2008
S Ryan
Director
The notes on page 3 form part of this unaudited interim report.
ST MARK HOMES II PLC
Notes to the unaudited profit & loss account for the six month period ended
30 June 2007
1. Accounting Policies
The financial information contained in this unaudited interim report has been
prepared on the basis of the accounting policies set out in the St Mark Homes
II PLC audited financial statements for the year ended 31 December 2007, which
have been applied consistently. The financial statements for the year ended 31
December 2007 have been filed at Companies House.
2. Taxation on loss on ordinary activities
For the purpose of this unaudited interim report, the tax charge is calculated
at 28% of the taxable (loss)/profit for the period.
3. Earnings per share
Earnings per share has been calculated by dividing the loss for the period of £
the weighted average number of ordinary shares in issue of 2,957,495.
4. Non Statutory Financial Statements
The financial information contained in this unaudited interim report does not
constitute full statutory financial statements as defined by section 240 of the
Companies Act 1985.
BDO Stoy Hayward
Chartered Accountants
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