Interfund Investments PLC

Annual Report • Apr 29, 2022

STATEMENT OF TOTAL INCOME for the year ended 31 December 2021

	2021 €	2020 €
Income	(688.429)	(243.590)
Administrative expenses	(298.553)	(296.882)
Loss from operations	(986.982)	(540.472)
Finance income	63	9.968
Finance costs Loss before taxation	(10.787) (997.706)	(19.395) (549.899)
Taxation	-	-
Net loss for the year	(997.706)	(549.899)
Other total income	-	-
Total income for the year	(997.706)	(549.899)
Loss per share attributed to the shareholders of the parent company
(cents)	(0.88)	(0.49)

INTERFUND INVESTMENT PLC

STATEMENT OF FINANCIAL POSITION As at 31 December 2021

	2021 €	2020 €
ASSETS
Current assets
Financial assets at fair value through profit and loss	10.871.152	9.375.419
Cash and cash equivalents	5.886.638	8.396.528
	16.758.210	17.771.947
Total assets	16.758.210	17.771.947
EQUITY AND LIABILITIES
Equity
Share capital	14.663.168	14.663.168
Share premium reserve	4.183.040	4.183.040
Accumulated losses	(2.289.716)	(1.291.010)
Total equity	16.557.512	17.555.218
Current liabilities
Trade and other creditors	171.899	187.930
Current tax liabilities	28.799	28.799
	200.698	216.729
Total equities and liabilities	16.758.210	17.771.947

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INTERFUND INVESTMENT PLC

STATEMENT OF CHANGES IN NET POSITION Year ended 31 December 2021

Share capital Share Premium Reserve Accumulated losses Total € € € € Balance as at 1 January 2020 7.350.837 2.495.574 (741.111) 9.105.300 Total income Net loss for the year - - (549.899) (549.899) Total income for the year - - (549.899) (549.899) Transactions with shareholders Issue of shares 7.312.351 1.687.466 - 8.999.817 Total transactions with shareholders 7.312.351 1.687.466 - 8.999.817 Balance as at 31 December 2020 / 1 January 2021 14.663.188 4.183.040 (1.291.010) 17.555.218 Total income Net loss for the year - - (997.706) (997.706) Total income for the year - - (997.706) (997.706) Balance as at 31 December 2021 14.663.188 4.183.040 (2.288.716) 16.557.512

Companies which do not distribute 70% of their profits after tax, as defined by the Special Contribution for Defence Law of the Republic, within two years after the end of the relevant tax year, will be deemed to have distributed this amount as dividends on the 31st of December of the second year. The amount of the deemed dividend distribution is reduced by any actual dividend already distributed by the 31st of December of the second year for the year to which profits relate. Special contribution for defence at 17% is payable on such deemed dividends by the Company (effective as of 2014) to the extent that the shareholders concerned are natural persons, tax residentsin Cyprus and domiciled in Cyprus. In addition, as of 2019 (deemed dividend distribution for 2017) a contribution to the General Health System at 2.65% (2019: 1.70%) is paid by the Company for the account of the shareholders, where the shareholders concerned are natural persons, tax residents in Cyprus, irrespective of their domicile.

INTERFUND INVESTMENT PLC

STATEMENT OF CASH FLOWS Year ended 31 December 2021

	2021	2020
	€	€
CASH FLOW FROM OPERATING ACTIVITIES
Loss before taxation	(997.706)	(549.899)
Adjustments for:
Credit dividends	-	(53.600)
Credit interest	(79)	(5.518)
	(997.785)	(609.017)
Changes in working capital
Increase in financial assets at fair value through profit and loss	(1.496.153)	(7.967.600)
(Decrease)/increase in trade and other creditors	(16.301)	22.422
Cash for operations	(2.509.969)	(8.554.195)
Interest received	79	5.518
Dividends received	-	53.600
Tax paid	-	(48.744)
Net cash for operations	(2.509.890)	(8.543.821)
CASH FLOW FROM INVESTING ACTIVITIES
Interest received	9.775	1.718
Net cash from investing activities	9.775	1.718
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from issue of shares	-	8.999.817
Payment of interest	(9.775)	(1.718)
Net cash (for)/from financing activities	(9.775)	8.998.099
Net (decrease)/increase in cash and cash equivalents	(2.509.890)	455.996
Cash and cash equivalents at beginning of year	8.396.528	7.940.532
Cash and cash equivalents at end of year	5.886.638	8.396.528