Interim / Quarterly Report • Sep 30, 2025
Interim / Quarterly Report
Open in ViewerOpens in native device viewer
REPORT AND FINANCIAL STATEMENTS Period from 1 January 2025 to 30 June 2025
| CONTENTS | |
|---|---|
| Board of Directors and other officers | 1 |
|---|---|
| Management Report | 2 - 3 |
| Statement of profit or loss and other comprehensive income | 4 |
| Statement of financial position | 5 |
| Statement of changes in equity | 6 |
| Cash flow statement | 7 |
| Notes to the financial statements | 8 - 11 |
| Board of Directors: | Maria Polyviou Odysseas Odysseos Dionisia Menicou Irene Polydorou |
|---|---|
| Company Secretary: | Maria Polyviou Andreas Karamanos |
| Independent Auditors: | Ekkeshis Ierodiakonou Ltd Certified Public Accountants and Registered Auditors 36B Georgiou Griva Digeni 6th floor 1066, Nicosia |
| Registered office: | 15 Agion Omologiton Street 1080, Nicosia Cyprus |
| Registration number: | HE385760 |
1
The Board of Directors presents its report and audited financial statements of the Company for the period from 1 January 2025 to 30 June 2025.
The Company is a holding company with no participations in the period under review.
The results of this year are not considered satisfactory and the Board of Directors is making an effort to reduce the The results of this year are not of the Company's development to date and the financial position as reflected in the financial statements are satisfactory.
The principal risks and uncertaintes faced by the Company are disclosed in notes 6, 7 and 13 of the financial statements.
The Company is exposed to interest rate risk, credit risk and liquidity risk from the financial instruments it holds.
Interest rate risk is the risk that the value of financial instruments will fluctuate due to changes in market interest rates. The Company's income and operating cash flows are substantially independent of changes in market interest rates as the Company has no significant interest-bearing assets. The Company is exposed to interest rate risk in relation to its non-current borrowings issued at variable rates expose the Company to cash flow interest rate risk. Borrowings issued at fixed rates expose the Company to fair value interest rate risk. The Company's Management monitors the interest rate fluctuations on a continuous basis and acts accordingly.
Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to meet an obligation. Credit risk arises from cash and cash equivalents, contractual cash flows of debt investments mect un obligation. St car walle through other comprehensive income (FVOCI) and at fair value through profit carned at amor liber of nancial instruments and deposits with banks and financial institutions.
Credit risk is managed on a group basis. For banks and financial institutions, the Company has established policies whereby the majority of bank balances are held with independently rated parties with a minimum rating of ['C'].
Liquidity risk is the risk that arises when the maturity of assets and liabilities does not match. An unmatched position potentially enhances profitability, but can also increase the risk of losses. The Company has procedures with the potect of minimising such losses such as maintaining sufficient cash and other highly liquid current assets and by having available an adequate amount of committed credit facilities.
There were no changes in the share capital of the Company during the period under review.
The members of the Company's Board of Directors as at 30 June 2025 and at the date of this report are presented The members of the Sompany of the Board of Directors throughout the period from 1 January 2025 to 30 June 2025.
In accordance with the Company's Articles of Association all Directors presently members of the Board continue in office.
There were no significant changes in the assignment of responsibilities and remuneration of the Board of Directors.
Independent Auditors, Ekkeshis Ierodiakonou Ltd, have expressed their willingness to continue in office and a The Independent Additors, ERRESHS 2018 Inchestors to fix their remuneration will be proposed at the Annual General Meeting.
By order of the Board of Directors, Maria Polyviou Secretary 00 Nicosia, ... 30 100 2025
| Note | 30 June 2025 € |
30 June 2024 € |
|
|---|---|---|---|
| Administration expenses | (2,639) | (2,392) | |
| Operating loss | (2,639) | (2,392) | |
| Finance costs | 9 | (554) | (160) |
| Net loss for the period/year | (3,193) | (2,552) | |
| Other comprehensive income Total comprehensive income for the period |
(3,193) | (2,552) |
30 June 2025
| Note | 30 June 2025 € |
31 December 2024 € |
|---|---|---|
| 10 | 685 | 845 |
| 685 | 845 | |
| 685 | 845 | |
| 11 | 26,000 (42,821) (16,821) |
26,000 (39,628) (13,628) |
| 12 | 17,506 17,506 |
14,473 14,473 845 |
| 685 |
. 2025 the Board of Directors of Henan Wandi Minerals Public Company Ltd authorised these financial On .30. statements for issue.
Dionisia Menicou Director
S. C. C. COMPANY Odysseas Odysseos Director 0 P MANDI MI
Period from 1 January 2025 to 30 June 2025
| Share capital e |
Accumulated losses e |
Total e |
|
|---|---|---|---|
| Balance at 1 January 2024 Net loss for the period 1 January 2024 to June 2024 |
26,000 | (35,345) (2,552) |
(9,345) (2,552) |
| Balance at 30 June 2024 | 26,000 | (37,897) | (11,897 |
| Net loss for the period 1 July 2024 to 31 December 2024 | 26,000 | (1,731) | 24,269 |
| Balance at 31 December 2024/ 1 January 2025 | 26,000 | (39,628) | (13,628) |
| Comprehensive income Net loss for the period 1 January 2025 to 30 June 2025 |
(3,193) | (3,193) | |
| Balance at 30 June 2025 | 26,000 | (42,821) | (16,821) |
Companies, which do not distribute 70% of their profits after tax, as defined by the Special Contribution for the Companies, which do hot alstibutes , within two years after the end of the relevant tax year, will be deemed to have Decence of the repaire and many of the second year. The second year. The amount of the deemed dividend distribution is reduced by any actual dividend already distributed by 31 December of the second year the arofits relate. The Company pays special defence contribution on behalf of the shareholders over the amount of the deemed dividend distribution at a rate of 17% (applicable since 2014) when the entitled shareholders are natural persons tax residents of Cyprus and have their domicile in Cyprus. In addition, the Company pays on behalf of the shareholders General Healthcare System (GHS) contribution at a rate of 2,65%, when the entitled shareholders are natural persons tax residents of Cyprus, regardless of their domicile.
Period from 1 January 2025 to 30 June 2025
| 30 June 2025 | 30 June 2024 | ||
|---|---|---|---|
| Note | € | € | |
| CASH FLOWS FROM OPERATING ACTIVITIES Loss before tax |
(3,193) | (2,552) | |
| (3,193) | (2,552) | ||
| Changes in working capital: Increase in trade and other payables |
3,033 | 4,074 | |
| Cash (used in)/generated from operations | (160) | 1,522 | |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Net (decrease)/increase in cash and cash equivalents | (160) | 1,522 | |
| Cash and cash equivalents at beginning of the period/year | 845 | (677) | |
| Cash and cash equivalents at end of the period/year | 10 | 685 | 845 |
The Company Henan Wandi Minerals Public Company Ltd (the "Company") was incorporated in Cyprus on 02 July 2018 as a private limited liability company under the provisions of the Cyprus Companies Law, Cap. 113. Its registered office is at 15 Agion Omologiton Street, 1080, Nicosia, Cyprus.
The Company is a holding company with no participations in the period under review.
The financial statements have been prepared in accordance with IFRS Accounting Standards as adopted by the The financial statements fifthe equirements of the Cyprus Companies Law, Cap. 113. The financial statements have been prepared under the historical cost convention.
During the current period the Company adopted all the new and revised IFRS Accounting Standards that are relevant to its operations and are effective for accounting periods beginning on 1 January 2025. This adoption did not have a material effect on the accounting policies of the Company.
The material accounting policies adopted in the preparation of these financial statements are set out below. These r nicies have been consistently applied to all years presented in these financial statements unless otherwise stated.
Management seeks not to reduce the understandability of these financial statements by obscuring material information with immaterial information. Hence, only material accounting policy information is disclosed, where relevant, in the related disclosure notes.
The Company incurred a loss of €3,193 for the period from 1 January 2025 to 30 June 2025, and, as of that date the Company's liabilities exceeded its assets by €16,821. The Company is dependent upon the continuing financial Company of its shareholders without which there would be significant doubt about its ability to continue as a going Support of the Shardlers Marcelise its assets and discharge its liabilities in the ordinary course of business. The shareholders have indicated their intention to continue providing such financial assistance to the Company to enable it to continue as a going concern and to meet its obligations as they fall due.
Interest expense and other borrowing costs are charged to profit or loss as incurred.
Ordinary shares are classified as equity.
At the date of approval of these financial statements, standards and interpretations were issued by the International Accounting Standards Board which were not yet effective. Some of them were adopted by the European Union and others not yet. The Board of Directors expects that the adoption of these accounting standards in future periods will not have a material effect on the financial statements of the Company.
The Company is exposed to interest rate risk, credit risk arising from the financial instruments it The Company is exposed to 'nterest ransoyed by the Company to manage these risks are discussed below:
Interest rate risk is the risk that the value of financial instruments will fluctuate due to changes in market interest rates. The Company's income and operating cash flows are substantially independent of changes in market intels, rates as the Company has no significant interest-bearing assets. The Company is exposed to interest rate int rates as the Company has no Signings issued at variable rates expose the Company to . The Company to . The Company retactive to ton carrent borromings between the Company to fair value interest rate risk. The Company's rate This. "Borronings the interest rate fluctuations on a continuous basis and acts accordingly.
of child risk is the risk that one party to a financial instrument will cause a financial loss for the party of the Creations is the hat the paris, cash and cash equivalents, contractual cash flows of debt investments carried at meccur obligation ordain for anyon other comprehensive income (FVOCI) and at fair value through profit or loss amortised "600, at 1an Prative financial instruments and deposits with banks and financial institutions.
Liquidity risk is the risk that arises when the maturity of assets and liabilities does not match. An unmatored position Lightly frisk is the nise mac are increase the risk of losses. The Company has procedures with the object of minimising such losses such as maintaining sufficient cash and other highly liquid current assets and by having available an adequate amount of committed credit facilities.
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Management has made an assessment of the Company's ability to continue as a going concern.
| 30 June 2025 | 30 June 2024 | |
|---|---|---|
| 8 | ਵ | |
| Auditors' remuneration | 250 | 100 |
| Other expenses | 2,389 | 2,292 |
| Total expenses | 2,639 | 2,392 |
| 9. Finance costs | ||
| 30 June 2025 30 June 2024 | ||
| € | € | |
| Sundry finance expenses | 554 | 160 |
| Finance costs | 554 | 160 |
Period from 1 January 2025 to 30 June 2025
Cash balances are analysed as follows:
| 31 December | |
|---|---|
| 30 June 2025 | 2024 |
| € | € |
| 685 | 845 |
| 685 | 845 |
The exposure of the Company to credit risk and impairment losses in relation to cash and cash equivalents is reported in note 6 of the financial statements.
| 2025 Number of shares |
20225 € |
2024 Number of shares |
2024 € |
|
|---|---|---|---|---|
| Authorised Ordinary shares of €1 each |
26,000 | 26,000 | 26,000 | 26,000 |
| Issued and fully paid Balance at 1 January Balance at 30 June/31 December |
26,000 26,000 |
26,000 26,000 |
26,000 26,000 |
26,000 26,000 |
| 31 December | ||
|---|---|---|
| 30 June 2025 | 2024 | |
| € | E | |
| Shareholders' current accounts - credit balances (Note 14.1) | 3,546 | 1,498 |
| Accruals | 700 | 2,451 |
| Other creditors | 13,260 | 10,524 |
| 17,506 | 14.473 |
The fair values of trade and other payables due within one year approximate to their carrying amounts as presented above.
The geopolitical situation in Eastern Europe intensified on 24 February 2022 with the commencement of the conflice r he geopliced situation in As at the date of authorising these financial statements for issue, the conflict continues between to oncine. As a the acted ate of addition to the impact of the events on entities that have operations in Russia, Ukraine, or Belarus or that conduct business with their counterparties, the conflict is increasingly affecting economies and financial markets globally and exacerbating ongoing economic challenges.
The Israel-Gaza conflict has escalated significantly after Hamas launched a major attack on 7 October 2023. The Israel could connice That esseations, investments, contractual arrangements or joint veritures in the War Compunes with material babblaker bat do not have direct exposure to Israel and Gaza Strip are likely to be affected by the overall economic uncertainty and negative impacts on the global economy and major financial markets arising from the war. This is a volatile period and situation, however, the Company is not directly exposed. Management will continue to monitor the situation closely and take appropriate actions when and if needed.
Management has considered the unique circumstances and the risk exposures of the Company and has concluded that there is no significant impact in the Company's profitability position. The event is not expected to have an immediate material impact on the business operations. Management will continue to monitor the situation closely and will assess the need in case the crisis becomes prolonged.
The following transactions were carried out with related parties:
| 31 December | ||
|---|---|---|
| 30 June 2025 | 2024 | |
| 8 | ||
| Shareholders | 3,546 | 1,498 |
The directors'/shareholders' current accounts are interest free and have no specified repayment date.
The Company had no contingent liabilities as at 30 June 2025.
The Company had no capital or other commitments as at 30 June 2025.
There were no material events after the reporting period, which have a bearing on the financial statements.
| CONTENTS | PAGE |
|---|---|
| Detailed income statement | 1 |
| Administration expenses | 2 |
| Finance costs | 3 |
| 30 June 2025 30 June 2024 | |||
|---|---|---|---|
| Page | € | € | |
| Operating expenses | |||
| Administration expenses | 2 | (2,639) | (2,392) |
| Operating loss | (2,639) | (2,392) | |
| Finance costs | 3 | (554) | (160) |
| Net loss for the period/year before tax | (3,193) | (2,552) |
1
| 30 June 2025 30 June 2024 き |
€ | |
|---|---|---|
| Administration expenses | ||
| Auditors' remuneration - current period | 250 | 250 |
| Auditors' remuneration - prior years | (150) | |
| Other professional fees | 2,341 | 2,292 |
| Irrecoverable VAT | 48 | |
| 2,639 | 2.392 |
| 30 June 2025 30 June 2024 € |
€ | |
|---|---|---|
| Finance costs | ||
| Sundry finance expenses | ||
| Bank charges | 554 | 160 |
| 554 | 160 |
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.