6. (LOSS) PER ORDINARY SHARE
The calculation of (loss)/profit per ordinary share is based on the following (losses) and the number of shares used should be that retrospectively adjusted for the effect of consolidation:
|
|
2025 |
2024 |
|
|
£ |
£ |
|
(Loss) for the year |
(400,266) |
(516,723) |
|
|
|
– |
|
Weighted average number of shares for basic (loss) per share |
740,573,323 |
354,915,789 |
|
Weighted average number of shares for diluted (loss) per share |
740,573,323 |
354,915,789 |
|
(LOSS) PER ORDINARY SHARE: |
|
|
|
Basic |
(0.05)p |
(0.15)p |
|
Diluted |
(0.05)p |
(0.15)p |
7. PROPERTY PLANT AND EQUIPMENT
|
Plant and equipment |
2025 |
2024 |
|
|
£ |
£ |
|
Cost |
|
|
|
At 1 April |
7790 |
32,790 |
|
Additions |
0 |
0 |
|
Impairment |
0 |
(25,000) |
|
At 31 March |
7790 |
7,790 |
|
Depreciation |
|
|
|
At 1 April |
7150 |
6,937 |
|
Charge for the year |
160 |
213 |
|
At 31 March |
7,310 |
7,150 |
|
|
|
|
|
Net book value at 31 March |
480 |
640 |
Annual report & consolidated financial statements 2025
Page 2
8. CURRENT ASSET: INVESTMENT PROPERTIES
|
|
2025 |
2024 |
|
|
£ |
£ |
|
FAIR VALUE |
|
|
|
As at 1 April |
0 |
927,249 |
|
Additions |
0 |
0 |
|
Disposals * |
0 |
(927,249) |
|
Fair Valuation Adjustment |
0 |
0 |
|
At 31 March |
0 |
0 |
|
NET BOOK VALUE |
|
|
|
As a 31 March |
0 |
0 |
|
Fair value at 31 March is represented by: Revaluation in the year |
|
0 |
|
LOSS ON DISPOSAL |
|
|
|
Fair value |
|
927,249 |
|
Disposal proceeds (net of costs) |
|
927,249 |
|
Loss on disposal |
0 |
0 |
|
|
|
|
9. TRADE AND OTHER RECEIVABLES
|
|
2025 |
2024 |
|
|
£ |
£ |
|
Other receivables |
33,269 |
39,269 |
|
Other taxes |
2,137 |
13,467 |
|
Prepayments |
29,944 |
26,840 |
|
|
65,350 |
79,576 |
No IFRS9 provision has been recognized on the above financial instruments on the basis that this provision has been deemed to be immaterial.
10. CASH AND CASH EQUIVALENTS
All of the group’s cash and cash equivalents at the year end are in sterling and held at floating interest rates.
|
|
2025 |
2024 |
|
|
£ |
£ |
|
Cash and cash equivalents |
27,429 |
8,906 |
Deferred tax
No deferred tax assets have been provided in respect of property revaluation as there are historical losses upon which to offset. As at the 31 March 2025, the Group had cumulative tax losses of £7,104,379 (2024: £6,704,650) that are available to offset against future taxable profits of the same trade.
The UK Government announced in the 2021 budget that from 1 April 2023, the rate of corporation tax in the United Kingdom will increase from 19% to 25%. Companies with profits of £50,000 or less will continue to be taxed at 19%, which is a new small profits rate. Where taxable profits are between £50,000 and £250,000, the higher 25% rate will apply but with a marginal relief applying as profits. UK corporation tax rate has been reviewed by the Group as a result of this changes.
* The remaining asset was sold in September 2023.
|
|
2025 |
2024 |
|
|
£ |
£ |
|
Current tax |
- |
- |
|
Tax charge |
- |
- |
|
|
|
|
|
|
2025 |
2024 |
|
|
£ |
£ |
|
Loss on ordinary activities before tax |
(400,266) |
(516,723) |
|
Based on (loss) for the year: Tax at 19% (2024: 19%) |
(76,050) |
(98,177) |
|
Unrelieved tax losses |
0 |
0 |
|
Impairment |
0 |
0 |
|
Tax losses carried forward |
76050 |
98,177 |
|
|
|
|
|
Tax charge for the year |
- |
- |
5. TAXATION
The Directors consider that the carrying amount of cash and cash equivalents approximate to their fair value.
In 2024, the impaired asset related to the hydroponic equipment held in Life Hydroponic Assets Ltd. The directors considered that as the company had not commenced to trade and the technology in the hydroponic space was forever changing that the asset would now unlikely be able to attract any proceeds should it be necessary for it to be sold. The corresponding creditor balance of £18,333 that remained outstanding was also written off from trade creditors.