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Webb Capital Plc (WCAP)

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Friday 27 May, 2011

Webb Capital Plc

Preliminary Announcement of Unaudited Results


                               Webb Capital Plc                                

                 Preliminary Announcement of Unaudited Results                 

                      for the Year ended 31 December 2010                       

The Directors have pleasure in announcing results for the year ended 31
December 2010, a year of significant change for the Company

Commenting on the results Chief Executive, Peter Webb, said:

"The period covered by these accounts and subsequent months has been both
challenging and rewarding at times as we have explored the many significant
areas of growth offered by our target SME market place.

The Company is now able to provide a range of Corporate Advisory, Broking and
Fund Management services to existing and potential clients.

I believe that we have created a solid foundation from which to explore the
potential to speed up our organic growth through the acquisition of businesses
in complementary areas and to broaden the range of services that we offer to
the owners and managers of small growing businesses.

I cannot recall a period of such opportunity in all of my 30 plus years in the
City and together with my colleagues at Webb Capital we intend to do our best
to ensure that we are successful in our pursuit of growth."

The Directors accept responsibility for this announcement.

A copy of this announcement is available on www.webbcapital.com

For further information

Webb Capital plc

Peter Webb - Chief Executive Tel: 020 7634 9510

Daniel Stewart & Co PLC

Paul Shackleton Tel: 020 7776 6550

CHAIRMAN'S STATEMENT - PRELIMINARY RESULTSFOR YEAR ENDED 31 DECEMBER 2010

Introduction

I am pleased to present the results for the year ended 31 December 2010, a year
in which the Group has made significant strides and laid firm foundations for
the future.

Review of Activities

The results show a loss before tax, share based payments and exceptional
goodwill impairment for the financial year of £532,707 (2009: loss £29,115) on
Turnover of £226,305 (2009: nil) and shareholders' funds at 31 December were £
531,325 (2009: £128,933).

Following the restructuring in 2009 the Company was re-launched in February
2010 under the Webb Capital name. This was closely followed by the acquisition
of KHI Partners Limited and its wholly owned subsidiary KHI Advisors Limited
(subsequently renamed Webb Capital Asset Management Limited) which brought with
it FSA corporate advisory authorisation. Later in the year the FSA
Authorisation was widened to include Fund Management.

In March and April the Company successfully raised additional equity through a
subscription by the Directors and a number of high net worth investors.

During the year we have recruited a number of senior corporate finance and fund
management consultants to join the Group, while at the same time taking care to
manage the Group's overheads in line with projected income.

In August the Company acquired the business of Chatsford Corporate Finance
Limited (subsequently renamed Webb Capital Advisory Limited) which now forms
its principal corporate finance advisory business.

In the autumn the Group completed its first successful corporate finance
assignment when it advised on the management buy-out of the UK division of
Primus Telecommunications Group Inc.

Post Balance Sheet Events

Since the beginning of the new financial year the Group has signed a number of
interesting advisory mandates including advice on a new £15 million residential
property fund, financing the launch of a new specialist ambulance service and
advising a private media group on its sale to a quoted competitor. The Group
now has a pipeline of new business opportunities and it is clear that we are
able to attract exciting companies to engage our services.

In May 2011 Webb Capital Advisory successfully applied to join The London Stock
Exchange as a prelude to offering corporate broking services to SME companies
on the AIM and PLUS markets.

In Fund Management, the Group continues to review opportunities to launch new
funds and despite difficult market conditions some progress is being made with
various initiatives being considered.

Conclusion

The steps that have been taken over the last 12 months have been important in
preparing for our future growth. It is readily apparent that the SME
opportunity is significant and that potential exists for the establishment of a
new growth company serving a wide range of needs of participants in this
vibrant sector of the UK economy.

Chris Marsh

Chairman

Webb Capital plc



Unaudited Consolidated Income Statement for the Year ended 31 December 2010

                                                      2010             2009
                                                         £                £
                                                                           
REVENUE                                            226,304                -
                                                                           
Cost of sales                                     (60,782)                -
                                                                           
                                                     -----            -----
                                                                           
GROSS PROFIT                                       165,522                -
                                                                           
Administrative expenses                          (735,115)        (233,647)
                                                                           
Goodwill impairment                               (91,696)                -
                                                                           
                                                     -----            -----
                                                                           
OPERATING LOSS                                   (661,289)        (233,647)
                                                                           
Exceptional item                                         -          204,532
                                                                           
                                                     -----            -----
                                                                           
LOSS BEFORE TAX                                  (661,289)         (29,115)
                                                                           
Income tax expense                                 (7,395)                -
                                                                           
                                                     -----            -----
                                                                           
LOSS FOR THE YEAR                                (668,684)         (29,115)
                                                                           
                                                     =====            =====
                                                                           
                                                      2010             2009
                                                                           
EARNINGS PER SHARE                                                         
                                                                           
Basic and diluted for                               (0.09)           (0.02)
loss for the year                                                          
                                                                           
LOSS FOR THE YEAR                                (668,684)        (29,115) 
                                                                           
OTHER COMPREHENSIVE                                                        
INCOME                                                                     
                                                                           
Exchange differences on                                  -          25,323 
translating foreign operations                                             
                                                                           
Share based payment                                 36,886               - 
                                                                           
                                                     -----           ----- 
                                                                           
TOTAL COMPREHENSIVE                              (631,798)         (3,792) 
INCOME FOR THE YEAR                                                        
                                                                           
                                                     =====           ===== 
                                                                           
                                                 (631,798)         (3,792) 
                                                                           
                                                     =====           ===== 



Webb Capital plc

Unaudited Balance Sheet at 31 December 2010
                                                       2010            2009
                                                          £               £
                                                                           
ASSETS                                                                     
                                                                           
NON CURRENT ASSETS                                                         
                                                                           
Property, plant and equipment                        51,768               -
                                                                           
CURRENT ASSETS                                                             
                                                                           
Loans and receivables                                50,000               -
                                                                           
Available-for-sale financial assets                  53,150               -
                                                                           
Trade and other receivables                          66,266           5,631
                                                                           
Cash and cash equivalents                           488,756         169,840
                                                                           
CURRENT LIABILITIES                                                        
                                                                           
Tax payables                                          7,395               -
                                                                           
Trade and other payables                            171,220          46,538
                                                                           
                                                      -----           -----
                                                                           
                                                  (178,615)        (46,538)
                                                                           
                                                      -----           -----
                                                                           
NET ASSETS                                          531,325         128,933
                                                                           
                                                      =====           =====
                                                                           
EQUITY                                                                     
                                                                           
ISSUED CAPITAL AND RESERVES                                                
                                                                           
Issued share capital                                981,468         370,188
                                                                           
Share premium                                       813,847         390,937
                                                                           
Reserves                                             36,886               -
                                                                           
Retained profits/(loss)                         (1,300,876)       (632,192)
                                                                           
                                                      -----           -----
                                                                           
TOTAL EQUITY                                        531,325         128,933
                                                                           
                                                      =====           =====

Notes:

 1. The results are unaudited but have been agreed with the auditors, HMT
    Assurance LLP
   
 2. Earnings per share are calculated using the weighted average of shares in
    issue in the year 2010: 7,593,551 (2009: 1,480,752)
   
 3. The Directors are not recommending a Dividend for the current year (2009:
    nil)
   

                                                                                                                                                                                                        

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