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V2 Ventures Plc (HYE)

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Friday 28 September, 2012

V2 Ventures Plc

Half-yearly Report


                                V2 Ventures Plc                                
                       ("V2 Ventures" or the "Company")                        

          Unaudited Interim Results for six months ended 30 June 2012          

CHAIRMAN'S STATEMENT

The board of V2 Ventures announces its interim results for the six month period
to 30 June 2012.

During the period, Peter Holmes, Daniel Edelman, Mike Chan and Michelle Wong
were appointed to the Board of the Company and Sebastian Moonjely and Uday
Nayak stepped down as directors.

The Company recapitalised its balance sheet during the period by the issue of
GBP575,000 nil coupon, convertible loan notes 2013 ("Loan Notes"). The Loan
Notes are convertible at 2.2053 pence a share and upon full conversion, would
equate to 26,073,550 ordinary shares of 1p in V2 Ventures.

The exceptional item in the accounts relates to costs incurred in respect of an
aborted acquisition.

The Board continues to seek suitable opportunities for the Company and is
committed to identifying and executing investment prospects internationally.

Peter Holmes

Director


V2 Ventures Plc                                                               
Statement of Comprehensive Income                                             
for the six months ended 30 June 2012                                         
                                                                              
                                                      Restated                
                                        Half-year     Half-year     Year Ended
                                        to            to            31st         
                                        30th June     30th June     December     
                                         2012          2011          2011      
                                        Unaudited     Unaudited     Audited   
                                                                              
Turnover                                0             0             0         
                                                                              
Cost of Sales                           0             0             0         
                                                                              
Gross Profit/(Loss)                     0             0             0         
                                                                              
Administration Costs                    71,670        26,530        35,100    
                                                                              
OPERATING PROFIT/(LOSS                  (71,670)      (26,530)      (35,100)  
                                                                              
Profit on disposal of business          0             0             0         
                                                                              
Interest Receivable and Similar Income  0             0             0         
                                                                              
Interest Payable and Similar Charges    (35)          0             0         
                                                                              
Exceptional Items                       23,469        0             0         
                                                                              
PROFIT/(LOSS) ON ORDINARY                                                     
                                                                              
ACTIVITIES BEFORE TAXATION              (95,104)      (26,530)      (35,100)  
                                                                              
Tax on Profits on Ordinary                                                    
                                                                              
Activities                              0             0             0         
                                                                              
PROFIT/(LOSS) FOR THE FINANCIAL                                               
                                                                              
YEAR AFTER TAXATION                     (95,104)      (26,530)      (35,100)  
                                                                              
V2 Ventures Plc                                                               
                                                                              
Statement of Financial Position as at                                         
30 June 2012                                                                  
                                                                              
                                                      Restated                
                                        As at         As at         As at     
                                                                    31st      
                                        30th June     30th June     December  
                                        2012          2011          2011      
                                        Unaudited     Unaudited     Audited   
                                                                              
FIXED ASSETS                                                                  
                                                                              
Tangible Assets                                                     0         
                                                                              
Investments                             0             3,390         3,390     
                                                                              
                                        0             3,390         3,390     
                                                                              
CURRENT ASSETS                                                                
                                                                              
Debtors                                 7,708         919           0         
                                                                              
Cash at bank and in hand                344,709       168           89        
                                                                              
                                        352,417       1,087         89        
                                                                              
CREDITORS                                                                     
                                                                              
Amounts falling due within one year     (615,895)     (84,764)      (110,296) 
                                                                              
NET CURRENT ASSETS/(LIABILITIES)        (263,478)     (83,677)      (110,207) 
                                                                              
TOTAL ASSETS LESS CURRENT                                                     
                                                                              
LIABILITIES                             (263,478)     (80,287)      (106,817) 
                                                                              
Amounts falling due after one year      0             0             0         
                                                                              
TOTAL ASSETS LESS CURRENT                                                     
                                                                              
LIABILITIES                             (263,478)     (80,287)      (106,817) 
                                                                              
CAPITAL AND RESERVES                                                          
                                                                              
Called up share capital                 104,363       104,363       104,363   
                                                                              
Share Premium Account                   153,869       215,426       215,426   
                                                                              
Profit and Loss Account                 (521,710)     (400,076)     (426,606) 
                                                                              
Total                                   (263,478)     (80,287)      (106,817) 
                                                                              

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 2011. The financial information contained in this
announcement is unaudited and has not been reviewed by the Company's auditors.

Following the appointment of your new Board during the period, the decision was
taken to restate the previous year's interim results to reflect the
rectification of a historic miscalculation. The unaudited results for period
ended 30 June 2012 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 2011 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
Peter Holmes
+44 203 384 3640

PETERHOUSE CORPORATE FINANCE
Eran Zucker/ Fungai Ndoro
+44 20 7469 0932

a d v e r t i s e m e n t