Walls & Futures REIT Half Year Results for the period to 30 September 2018

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.

 

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