Half-year Financial Report

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RNS Number : 0406N Adalan Ventures PLC 29 December 2025  

Not for release or distribution, directly or indirectly, within, into or in the United States or to or for the account or benefit of persons in the United States, Australia, Canada, Japan or any other jurisdiction where such offer or sale would violate the relevant securities laws of such jurisdiction.   For Immediate Release 29th December 2025 Adalan Ventures Plc ("Adalan" or the "Company") Unaudited Interim results for 6 months ended 30 June 2024   Adalan Ventures plc (the 'Company' or 'Adalan'), announces its unaudited interim results for the 6 month period ended 30 June 2024.   The results follow at the bottom of this announcement.        Enquiries:

  Adalan Ventures Plc



Siro Cicconi

  Tel: +44 (0) 73 9377 9849





  This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.     Adalan Ventures plc Interim Condensed Consolidated Statement of profit or loss and Other Comprehensive Income for the six months ended 30 June  

 

Notes

Six months ended 30 June 2024 Unaudited £

Six months ended 30 June 2023 Unaudited £









Staff Costs



(114,464)

-

Operating expenses



(93,711)

(10,000)

Loss before income tax

 

(208,175)

(10,000)

  Income tax expense



-

Net loss

 

(208,175)

(10,000)

 

 

 

 

Net other comprehensive income that may be reclassified to profit or loss

 

 

 

Foreign exchange differences arising on translation into presentation currency

 

-

-

 

Total comprehensive loss



(208,175)

(10,000)

Adalan Ventures plc Interim Condensed Consolidated Statement of financial position as at  

 

Notes

30 June 2024 Unaudited £

31 December 2023 Audited £











 





Assets:

 





Cash and cash equivalents

 

6,664

58,116

Total Assets

 

6,664

58,116















 

 

 

 

 

 

 

 

  Liabilities

 

 

 

Other liabilities

 

(789,670)

(633,947)

Total liabilities

 

(789,670)

(633,947)

Net Assets

 

(783,006)

(574,831)

                       

  Equity

 

 

 

Capital and reserves:

 

 

 

Share capital

8

513,475

513,475

Deferred Share Capital



4,157,775

4,157,775

Share Premium

8

6,910,128

6,910,128

Share options Reserve

 

119,640

119,640

Accumulated deficit



(12,484,024)

(12,275,849)

Total equity

 

(783,006)

(574,831)

Total liabilities and equity

 

6,664

58,116

    Interim Condensed Statement of changes in shareholders' equity (Unaudited)  for the six months ended 30 June 2024  (unaudited)  

 

Share capital £

      Deferred Share Capital £

Share Premium £

      Share    options Reserve £

 Accumulated  Deficit £

 Total Equity £



Balance as at 1 January 2024

513,475

  4,157,775

  6,910,128

  119,640

  (12,275,849)

  (574,831)

Issue of ordinary shares

-

-

-

-

-

-

Comprehensive loss for the period

-

-

-

-

(208,175)

(208,175)

Share-based payments

-

-

-

        -

-

-

Balance as at 30 June 2024

513,475

  4,157,775

6,910,128

  119,640

(12,484,024)

(783,006)

    Interim Condensed Consolidated Statement of Cash Flows For the six months ended 30 June        

 

Six months ended 30 June 2024 Unaudited £

Six months ended 30 June 2023 Unaudited £









Cash flows from operating activities

 



Loss for the period

(208,175)

(10,000)

Cash from operations

(208,175)

(10,000)







Net (increase)/decrease in operating assets

 



Change in receivables



-

Change in payables

155,723

4,000

Net change in working capital

155,723

4,000

Net cash flows from operating activities

(52,452))

(6,000)

Net change in cash and cash equivalents

(52,452)

(6,000)

  Cash and cash equivalents at the beginning of the year

58,116

35,468

Effects of Foreign exchange

1,000

-

Cash and cash equivalents at the end of the period

6,664

29,468

                                                                                                                                               2.  Basis of preparation   The condensed consolidated interim financial statements have been prepared using accounting policies consistent with International Financial Reporting Standards and in accordance with International Accounting Standard 34 Interim Financial Reporting. The condensed interim financial statements should be read in conjunction with the annual financial statements for the year ended 31 December 2022, which have been prepared in accordance with International Financial Reporting Standards (IFRS).   The condensed consolidated interim financial statements set out above do not constitute statutory accounts within the meaning of the Companies Act 2006. They have been prepared on a going concern basis in accordance with the recognition and measurement criteria of International Financial Reporting Standards (IFRS). Statutory financial statements for the year ended 31 December 2023 were approved by the Board of Directors on 11 February 2025 and delivered to the Registrar of Companies. The report of the auditors on those financial statements was unqualified.   The condensed  consolidated interim financial statements of the Company have not been audited or reviewed by the Company's auditor, RPG Crouch Chapman LLP.   Going concern   The Financial Statements have been prepared on a going concern basis. The Directors consider that the Company requires additional funding in order to deliver on its plan to find and acquire an operating business and undertake a reverse take over. The Directors are of the view that its current cash reserves along with any funding that it will seek to raise would provide sufficient funds to undertake its operating activities for the foreseeable future. Should the company be unsuccessful in raising additional capital then there is a significant risk that it has the ability to continue as a going concern. The company has currently reduced its cash expenditure to a minimum.   Please refer to the going concern note in the annual report for the year ended 31 December 2023 for further information.

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