Walls & Futures REIT plc (“WAFR”) the Ethical Housing REIT providing homes for vulnerable people through Local Authorities, Housing Association & Charities, is pleased to announce its interim results for the six months to 30th September 2018.
Financial Highlights
- Net Asset value (“NAV”) increased to £3,257,107 from £3,246,226 since the year end.
- NAV per share unchanged at 92p per share since the year end.
Joe McTaggart commented:
“Although there is increased economic and political uncertainty, the need for Supported Housing and Extra Care places continues to increase throughout the country.
We have identified a number of opportunities and are working with our partners, Local Authorities, Housing Associations and Charities, to deliver these much need places in the near future.”
Consolidated Income Statement
For the Period 31st March 2017 to 30th September 2017
|
6 Months to 30 September 2018 |
6 Months to 30 September 2017 |
|||
|
£ |
£ |
|||
| RENT RECEIVED |
67,041 |
32,726 | ||
| INCREASE IN PROPERTY VALUES |
– |
203,333 |
||
| Gross Profit |
62,215 |
236,059 |
||
| Administrative Expenses |
(131,638) |
(108,675) |
||
|
____________ |
____________ |
|||
| OPERATING PROFIT/(LOSS) |
(69,423) |
127,384 |
||
| Interest receivable and similar income |
224 |
– |
||
|
____________ |
____________ |
|||
| PROFIT/(LOSS) BEFORE TAXATION |
(69,199) |
127,384 |
||
| Taxation |
– |
– |
||
|
____________ |
____________ |
|||
| PROFIT/(LOSS) FOR THE FINANCIAL PERIOD | (69,199) |
127,384 |
||
Consolidated Balance Sheet
30thSeptember 2018
| 30 September 2018 | 30 September 2017 | ||||||||||||||||
|
£ |
£ | £ |
£ |
||||||||||||||
| FIXED ASSETS | |||||||||||||||||
| Investment Property |
|
3,025,00 |
2,873,109 |
||||||||||||||
|
|
|
||||||||||||||||
| CURRENT ASSETS | |||||||||||||||||
| Cash at Bank |
228,710 |
237,194 | |||||||||||||||
| Debtors and Prepayments |
5,764 |
6,863 |
|||||||||||||||
|
234,474 |
244,057 |
||||||||||||||||
| CREDITORS | |||||||||||||||||
| Amounts falling due within one year |
(2,367) |
(12,812) |
|||||||||||||||
| NET CURRENT ASSETS |
232,107 |
231,245 |
|||||||||||||||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
3,257,107 |
3,104,354 |
|||||||||||||||
| PROVISION FOR LIABILITIES |
– |
– |
|||||||||||||||
|
NET ASSETS |
3,257,107 |
3,104,353 |
|||||||||||||||
| CAPITAL AND RESERVES | |||||||||||||||||
| Called up share capital |
180,611 |
164,511 |
|||||||||||||||
| Share Premium |
3,412,297 |
3,125,714 |
|||||||||||||||
| Retained Earnings |
(504,134) |
(185,871) |
|||||||||||||||
|
|
3,257,107 |
3,104,354 |
|||||||||||||||
The above figures have not been reviewed by the Company’s auditors.
The directors of the issuer accept responsibility for the contents of this announcement.