V2 VENTURES PLC - INTERIM RESULTS
("V2 Ventures" or the "Company")
Interim Results for six months ended 30 June 2011
CHAIRMAN'S STATEMENT
The Board of V2 Ventures, a business committed to identifying international
investment opportunities, announces its interim results for the six month
period ending 30 June 2011.
REVIEW OF BUSINESS
As explained in the update announced on 2 February 2011, your Company is in
financial difficulty due to an outstanding debt owed to Her Majesty 's Revenue
and Custom's ("HMRC") and the failure of the Non-Executive Directors of the
Company to honour their obligations .
Your Company is avidly pursuing these serious matters but is unable to report
further on them, Your company will further to Shareholders in due course.
During the period no material events, transactions or developments have taken
place.
We would like to thank Shareholders for their continued support.
V2 Ventures plc
Statement of comprehensive income
for the six months ended 30 June 2011
2011 2010 Year Ended
30th June 30th June 2010
Unaudited Unaudited Audited
Turnover 0 0 0
Cost of Sales 0 0 (1,763)
--------- --------- ---------
Gross Profit/(Loss) 0 0 (1,763)
Administration Costs 8,570 11,327 (69,333)
OPERATING PROFIT/(LOSS) (8,570) (11,327) (71,096)
Profit on disposal of business 0 0 0
Interest Receivable and similar 0 0 0
income
Interest payable and similar 0 0 0
charges
--------- --------- ----------
PROFIT/(LOSS) ON ORDINARY (8,570) (11,327) (71,096)
ACTIVITIES BEFORE TAXATION
Tax on Profits on Ordinary 0 0 0
Activities
--------- --------- ---------
PROFIT/(LOSS) FOR THE FINANCIAL (8,570) (11,327) (71,096)
YEAR AFTER TAXATION
========= ========= =========
V2 Ventures plc
Statement of financial position as at 30 June 2011
2011 2010 Year Ended
30th June 30th June 2010
Unaudited Unaudited Audited
FIXED ASSETS
Tangible Assets 0 0 0
Investments 15,000 15,000 15,000
CURRENT ASSETS
Debtors 123,025 98,761 123,025
Cash at Bank and in hand 168 18 1,375
--------- --------- ---------
123,193 98,779 124,400
CREDITORS
Amount Falling Due within One 91,793 23,740 84,430
year
--------- --------- ---------
NET CURRENT ASSETS/(LIABILITIES) 31,400 75,039 39,970
TOTAL ASSETS LESS CURRENT 46,400 90,039 54,970
LIABILITIES
CREDITORS
Amount Falling Due after One Year 24,700 0 24,700
-------- -------- ---------
TOTAL ASSETS LESS CURRENT 21,700 90,039 30,270
LIABILITIES
-------- -------- ----------
CAPITAL AND RESERVES
Called up share capital 104,363 104,363 104,363
Share Premium Account 215,426 215,426 215,426
Profit and loss account (298,089) (229,750) (289,519)
---------- ---------- ----------
Total 21,700 90,039 30,270
Notes to financial information
These interim results have been prepared in accordance with International
Financial Reporting Standards and on the historical cost basis, using generally
recognised accounting principles and using the accounting policies which are
consistent with those set out in the Company's annual report and accounts for
the year to 31 December 2010.
The unaudited results for period ended 30 June 2011 do not constitute statutory
accounts within the meaning of Section 435 of the Companies Act 2006. The
comparative figures for the 12 months ended 31 December 2010 are extracted from
the statutory financial statements which have been filed with the Registrar of
Companies and which contain an unqualified audit report, did not draw attention
to any matters by way of an emphasis of matter paragraph and contained no
statement under Section 498 (2) or (3) of the Companies Act 2006.
The Directors of the issuer accept responsibility for this announcement.
---ENDS---
Enquiries:
V2 VENTURES PLC
Sebastian Moonjely
Tel: +44 20 7602 4422
RIVINGTON STREET CORPORATE FINANCE
Eran Zucker
Tel: +44 20 7562 3373
[email protected]m