30/09/10
V2 VENTURES PLC - INTERIM RESULTS
("V2 Ventures" or the "Company")
CHAIRMAN'S STATEMENT
The Board of V2 Ventures, a business committed to identifying international
investment opportunities, announces today its interim results for the six month
period ending 30 June 2010.
REVIEW OF BUSINESS
In the interim period under review, the Company has made an investment in Oak
Holdings plc, a leisure business operator - subscribing for 300,000 shares for
a consideration of £15,000. This investment although small, symbolises the new
direction of the Company. The Company will endeavour to continue to seek such
investments, with a view of enhancing shareholders value.
The Company declared its final results for the year ended 31st December 2009 on
28th May 2010 and held its Annual General Meeting on the 8th July 2010.
In line with the Company's strategy, the Company is in negotiations with
businesses in the area of luxury goods. The Company will update shareholders on
the negotiations as soon as possible. The outcome of the negotiations is not
certain. We are also in the process of setting up the Company's corporate
website, with a view to ensuring that stakeholders have easy access to
information on the Company.
We would like to thank shareholders for their continued support.
PROFIT AND LOSS ACCOUNT FOR THE SIX MONTHS ENDED 30TH JUNE 2010
2010 2009 Year Ended
30th June 30th June 2009
Unaudited Unaudited Audited
Turnover 0 76,341 112,412
Cost of Sales 0 63,395 107,443
--------- -------- ---------
Gross Profit/(Loss) 0 12,945 4,969
Administration Costs 11,327 55,734 170,907
OPERATING PROFIT/(LOSS) (11,327) (42,788) (165,938)
Profit on disposal of business 0 0 197,885
Interest Receivable and similar 0 0 0
income
Interest payable and similar 0 0 128
charges
--------- --------- ----------
PROFIT/(LOSS) ON ORDINARY (11,327) (42,788) 31,819
ACTIVITIES BEFORE TAXATION
Tax on Profits on Ordinary 0 0 0
Activities
--------- --------- ---------
PROFIT/(LOSS) FOR THE FINANCIAL (11,327) (42,788) 31,819
YEAR AFTER TAXATION
========= ========= =========
BALANCE SHEET AS AT 30TH JUNE 2010
2010 2009 Year Ended
30th June 30th June 2009
Unaudited Unaudited Audited
FIXED ASSETS
Tangible Assets 0 789 0
Investments 15,000 0 0
CURRENT ASSETS
Debtors 98,761 3,324 122,106
Cash at Bank and in hand 18 490 0
--------- --------- ---------
98,779 3,814 122,106
CREDITORS
Amount Falling Due within One year 23,740 82,095 20,740
--------- --------- ---------
NET CURRENT ASSETS/(LIABILITIES) 75,039 (78,281) 101,366
TOTAL ASSETS LESS CURRENT 90,039 (77,492) 101,366
LIABILITIES
CREDITORS
Amount Falling Due after One Year 0 0 0
-------- --------- ---------
TOTAL ASSETS LESS CURRENT 90,039 (77,492) 101,366
LIABILITIES
-------- ---------- ----------
CAPITAL AND RESERVES
Called up share capital 104,363 66,568 104,363
Share Premium Account 215,426 205,541 215,426
Profit and loss account (229,750) (42,788) (218,423)
---------- --------- ----------
Total 90,039 229,321 101,366
NOTES
The financial information for the period ended 30 June 2010 has not been
audited or reviewed by the Company's auditors and does not constitute statutory
accounts within the meaning of Section 434 of the Companies Act 2006.
The Directors of the issuer accept responsibility for this announcement.
---ENDS---
Enquiries:
V2 Ventures PLC Tel: 020 8834 1652
Sebastian Moonjely
RIVINGTON STREET CORPORATE FINANCE Tel: 020 7562 3373
Eran Zucker
[email protected]