V2 Ventures Plc
Interim Results for six months ended 30 June 2013
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 to 30 June 2013. During the period, your directors have considered and
evaluated several business opportunities. However, none of them have progressed
beyond initial stages. In an attempt to increase the board's exposure to
possible business opportunities, the directors are therefore currently working
with a consultant to find specific projects to enhance shareholder value.
While reviewing the expenses of the company the directors have noted that the
cost of maintaining a listing on ISDX seems disproportionate to the benefit
derived from this listing and are actively considering other alternatives.
The principal activity of the company in this period has been that of an
investment company.
V2 Ventures Plc
Statement of Comprehensive Income
for the six months ended 30 June 2013
Restated
2013 2012 2012
30th June 30th June Year Ended
Unaudited Unaudited Audited
Administration Costs (101,211) (71,670) (163,580)
OPERATING PROFIT/(LOSS (101,211) (71,670) (163,580)
Amounts written off investments 0 0 (3,390)
Interest Payable and Similar (42,683) (45,829) (95,395)
Charges
Exceptional Items 0 (23,469) 0
PROFIT/(LOSS) ON ORDINARY (143,894) (140,968) (262,365)
ACTIVITIES BEFORE TAXATION
Tax on Profits on Ordinary 0 0 0
Activities
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR AFTER TAXATION (143,894) (140,968) (262,365)
V2 Ventures Plc
Statement of Financial Position as at 30 June 2013
Restated
2013 2012 2012
30th June 30th June Year Ended
Unaudited Unaudited Audited
Non Current Assets
Investments 0 0 0
0 0 0
Current Assets
Debtors 65,867 43,037 6,000
Cash at bank and in hand 136,494 344,709 275,430
202,361 387,746 281,430
Total Assets 202,361 387,746 281,430
Equity and Liabilities
Equity
Called up share capital 104,363 104,363 104,363
Share Premium Account 215,426 216,326 215,426
Other Reserves 134,902 134,902 134,902
Retained Earnings (832,865) (567,574) (688,971)
Equity attributable to equity holders (378,174) (111,983) (234,280)
of the company
Current Liabilities
Trade and other payables 580,535 499,729 42,674
NET CURRENT ASSETS/(LIABILITIES) 202,361 387,746 (191,606)
Non Current Liabilites 0 0 473,036
TOTAL ASSETS LESS CURRENT
LIABILITIES 202,361 387,746 281,430
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 2012. The financial information contained in this
announcement is unaudited and has not been reviewed by the Company's auditors.
The unaudited results for the period ended 30 June 2013 do not constitute
statutory accounts within the meaning of Section 435 of the Companies Act 2006.
The figures for the 12 months ended 31 December 2012 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 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
Daniel Edelman/ Peter Holmes
+44 203384 3650
PETERHOUSE CORPORATE FINANCE LIMITED
Eran Zucker +44 207469 0932