LCP Holdings and Investments Public LTD

Annual / Quarterly Financial Statement • Jun 26, 2020

STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31 DECEMBER 2019

	2019	2018
	€	€
Rents receivable	-	12.901
Credit dividend	-	44.378
Credit interest	25.342	40
Proceeds from charge of expenses of building to tenant	-	28.952
Other exploitation income	370	8.537
Gains of fair values in financial assets at fair value through profit and loss	7.767	1.207.777
Profit from sale of investment property	-	50.000
Total income	33.479	1.352.585
Management cost	(174.139)	(273.342)
Net impairment loss to assets and contractual assets	(55.695)	-
Other cost	-	(10.737)
Finance cost	(78.822)	(80.571)
(Loss) / Profit before taxation	(275.177)	987.935
Taxation	(278.935)	(12.898)
Net (loss) / profit for the year	(554.112)	975.037
Basic and adjusted (loss) / profit per share (cents)	(0.20)	0.35

STATEMENT OF OTHER TOTAL INCOME FOR THE YEAR ENDED 31 DECEMBER 2019

	2019 €	2018 €
Net (loss) / profit for the year	(554.112)	975.037
Other total income: Amounts to be reclassified to profit or loss at later periods: Financial assets at fair value through other total income – (loss)/profit of
fair value	51.634	(42.098)
Other total income / (loss) for the year after taxation	51.634	(42.098)
Other total income / (loss) for the year	(502.478)	932.939

STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2019

	2019	2018
	€	€
ASSETS
Non-current assets
Financial assets at fair value through other total income	608.442	556.808
Loans receivable	-	85.380
	608.442	642.188
Current assets
Trade and other receivables	156.838	149.236
Loans receivable	20.000	-
Financial assets at fair value through profit and loss	347.540	2.003.964
Contractual assets	-	1.100.000
Current tax claims	21.232	21.232
Cash and cash equivalents	9.115.775	6.602.163
	9.661.385	9.876.595
TOTAL ASSETS	10.269.827	10.518.783
EQUITY AND LIABILITIES
Equity
Share capital	9.171.921	9.171.921
Other reserves	426.161	374.527
Accumulated losses	(4.987.202)	(4.433.090)
Total equity	4.610.880	5.113.358
Non-current liabilities
Borrowings	85.380	85.380
	85.380	85.380
Current liabilities
Trade and other creditors	168.632	194.045
Current tax liabilities	278.935	-
Provisions for liabilities	5.126.000	5.126.000
	5.573.567	5.320.045
Total liabilities	5.658.947	5.405.425
TOTAL EQUITY AND LIABILITIES	10.269.827	10.518.783

STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2019

		Other	Accumulated
	Share capital	Reserves	losses	Total
	€	€	€	€
Balance as at 1 January
2018	9.171.921	416.625	(5.407.985)	4.180.561
Total income
Net profit for the year	-	-	975.037	975.037
Other total income
Reserve at fair value –
financial assets at fair
value through other total
income Change in fair value	-	(42.098)	-	(42.098)
Total income for the year	-	(42.098)	975.037	932.939
Transactions with
shareholders	-	-	(142)	(142)
Contribution for defence
in deemed distribution of
dividend
Balance as at 31
December 2018 / 1	9.171.921	374.527	(4.433.090)	5.113.358
January 2019
Total losses
Net loss for the year	-	-	(554.112)	(554.112)
Other total income /
(losses)
Reserve at fair value –
financial assets at fair
value through other total
income
Change in fair value	-	51.634	-	51.634
Total income / (losses) for	-	51.634	(554.112)	(502.478)
the year
Balance as at 31 December 2019	9.171.921	426.161	(4.987.202)	4.610.880

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2019

	2019	2018
	€	€
Cash flow from operating activities
(Loss) / profit before taxation	(275.177)	987.935
Adjustments for:
Profit from sale of immovable property for investment	-	(50.000)
Gains of fair values in financial assets at fair value through profit and loss	(7.767)	(1.207.777)
Charge for impairment in the value of plant and equipment	-	10.737
Charge for impairment in the value of cash and cash equivalents	55.695	-
Credit dividends	-	(44.378)
Credit interest	(25.342)	(40)
Debit interest	-	2.798
Writing-off of doubtful debts	65.380	-
	(187.211)	(300.725)
Changes in working capital:
Decrease/(increase) in amounts receivables	(7.602)	60.248
Decrease in contractual assets	1.100.000	-
Decrease in financial assets at fair value through profit and loss	1.664.191	-
Decrease in trade and other creditors	(25.413)	(24.279)
Cash (for)/from operations	2.543.965	(264.756)
Tax paid	-	(12.898)
Net cash (for)/ from operations	2.543.965	(277.654)
Cash flow from investing activities
Proceeds from sale of assets classified as held for sale	-	4.500.000
Interest received	25.342	40
Dividends received	-	44.378
Net cash from investing activities	25.342	4.544.418
Cash flow from financing activities
Interest paid	-	(2.798)
Payment of defence contribution in deemed distribution of dividend	-	(142)
Net cash for financing activities	-	(2.940)
Net increase in cash and cash equivalents	2.569.307	4.263.824
Cash and cash equivalents at beginning of year	6.602.163	2.338.339
Charge for impairment in the value of cash and cash equivalents	(55.695)	-
Cash and cash equivalents at end of year	9.115.775	6.602.163