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Kryptonite 1 plc - Interim Report for the Half Year Ended 30 June 2016

Kryptonite 1 plc - Interim Report for the Half Year Ended 30 June 2016

Kryptonite 1 plc - Interim Report for the Half Year Ended 30 June 2016

PR Newswire

    29 September 2016

Kryptonite 1 Plc (formerly Guild Acquisitions Plc)
(“Kryptonite 1” or the “Company”)

Interim Report for the Half Year Ended 30 June 2016

CEO’s statement

In the half year to 30 June 2016, the Company reports a loss of £29,640 (2015: loss of £20,575). 

Administrative expenses for the period were £26,086 (2015: £19,875).

During the period, the Company completed a capital reorganisation of its ordinary shares in order to change the par value of the ordinary shares to 0.01 pence (“Ordinary Shares”). This reorganisation has made it possible for the Company to raise additional capital to make further investments.

In addition, the Company settled £10,000 of debt owed to Starvest PLC (“Starvest”) through the issue of 25,000,000 Ordinary Shares. Starvest has also agreed that the £10,000 that remains outstanding will attract no interest.

During the period, Charles Goodfellow and Manish Karani joined the Board and Geoff Hunt resigned from the Board.

Post period events:

On 20 July 2016, the Company announced that it had completed a placing raising a total of £100,000 for the Company through the issue of 333,333,333 Ordinary Shares at a price of 0.03 pence per share. On the same date, the Company announced that George McDonaugh, Jeremy Woodgate and Rupert Williams had become Directors of the Company and that the Company proposed to change its investment focus to technology, specifically, investment in emerging blockchain based businesses.  

Charles Goodfellow resigned as a Director on 20 July 2016 and Manish Karani resigned as a Director on 12 August 2016.

The Directors believe that blockchain is a dynamic and exciting sector which has the potential to change the way the world works. On 30 August 2016, the Company completed its first investment in the blockchain sector by investing £30,000 cash into NOMAN Ventures Limited (“NOMAN”) as part of an issue of £150,000, zero coupon and convertible loan notes by NOMAN.

On 23 September 2016, the Company received approval to change its name to Kryptonite 1 Plc, to reflect the Company’s revised investment focus.

The Company will look to build a portfolio of investments similar to NOMAN which they believe have the capability of enhancing shareholders value.

George McDonaugh
Date: 29 September 2016


Profit & loss account

6 months to 30 June 2016 6 months to 30 June 2015 12 months to
31 December 2015
Unrealised profit/(loss)

Realised loss



Gross loss (3,554) (700) (2,958)
Administrative expenses (26,086) (19,875) (49,049)
Operating loss (29,640) (20,575) (52,007)
Investment Income

Interest income



Loss on ordinary activities before and after taxation (29,640) (20,575) (52,007)
Loss per share (0.01) pence (0.01) pence (0.02) pence

Balance sheet

At 30 June 2016 At 30 June 2015 At 31 December 2015
Current assets




Cash at bank 3,406 6,982 4,809
155,125 207,315 173,182
Amounts falling due within one year



Net current assets 99,454 160,526 129,094
Amounts falling due over one year



Total assets less current liabilities 99,455 160,526 129,094

Capital and reserves
Called up share capital
Share premium account
Profit and loss account



Equity shareholders’ funds 99,454 160,526 129,094

Net Asset Value per share

0.05 pence

0.08 pence

0.06 pence

Interim report notes

1.    Interim report

The information relates to the 6-month period from 1 January to 30 June 2016. 

The interim report was approved by the Directors on 28 September 2016.

The interim report is unaudited.

2.   Basis of accounting

        a. The report has been prepared in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).  The information does not constitute statutory accounts within the meaning of section 240 of the Companies Act 1985.

        b. These interim financial statements are the financial statements of the Company.

        c.  The financial statements are prepared under the historical cost convention and are in accordance with applicable accounting standards.

        d. Investments 

                i.        Investments are held as current asset trade investments and are valued at the lower of cost and net realisable value.  Foreign denomination loans are translated into sterling at the rate of exchange ruling at the balance sheet date.  For those investments listed on a recognised market, net realisable value is taken as mid-market price. Where the directors consider the market price of a company is likely to irreversibly fall, additional write downs in valuation to below mid-market price are made.

                ii.       The net realisable value of certain investments is not readily determinable by reference to a quoted market price. The directors have therefore made their own assessment of the net realisable value and adjusted the carrying value of the investment where it is considered less than cost. This estimate requires estimation techniques, which are reliant upon their experience and expertise.

                iii.      These current asset trade investments are held as part of an investment portfolio and no investment is made as a media through which the Company carries on its business. Investments which may otherwise be classified as Associates do not therefore fall within this classification for accounting purposes.

        e.  The Company will report again for the full year to 31 December 2016.

The Directors of Kryptonite 1 Plc accept responsibility for this announcement.

Copies of this interim report are available free of charge by application in writing to the Company Secretary at 4th Floor, Queen Victoria House, 41-43 Victoria Street, Douglas, Isle of Man, IM1 2LF, by email to [email protected] or from the ISDX Growth Market website at http://www.isdx.com/
Contact Details:

Stephen Corran
Kryptonite 1 Plc:
Tel : 01624 676716
Email : [email protected]

ISDX Corporate Adviser
Peterhouse Corporate Finance Limited
Fungai Ndoro and Mark Anwyl
+44 (0)20 7469 0930

Quick facts: KR1 PLC

Price: 4.85

Market: NEX
Market Cap: -

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