Monthly Archives: April 2009

in Financial Reports

2009 Directors Report and Group Financial Statements

The consolidated loss for the year was £31,968 (2008: £83,077) on consolidated revenue of £443,736 (2008: £80,396). This improvement on last year’s result is welcome and represents a significant achievement despite the difficult trading environment encountered during the year under review and contrasts well with the property sector as a whole which generally has not performed. It is pleasing to note that notwithstanding difficult trading conditions a small profit was achieved by the residential arm of the company on the two properties in Chelsea in a very challenging market. However, it is disappointing that as a consequence of the prevailing economic climate the Company has been delayed from pursuing the strategy defined on listing on PLUS in November 2007 as quickly as we would have liked. The board believes that, having survived the recession in good shape, the Company is now very well-placed to benefit from further opportunities which the directors expect to arise in the property market in the next few months…

To read this Financial Report, please click on the image.