Year End Financial Accounts
/
Fandango Holdings plc / Index: LSE / Epic: FHP / Sector: Investment
24 December 2019
Fandango Holdings plc (‘Fandango’ or ‘the Company’)
Year End Financial Accounts
Fandango Holdings plc, the investment company focused on the industrial and services sectors, is pleased to provide its financial accounts for the year end 31 August 2019.
STRATEGIC REPORT
Principal activity and fair review of the business
For the year to 31 August 2019, the Company's results include the running costs of the Company and listing fees on the London Stock Exchange standard segment. The Company’s shares remain suspended.
Since February 2018 Fandango has made loans to Stranger Holdings PLC which were advanced during the previous accounting period and which attract interest at 10% per month (to 25 May 2018: 5% per month) and are repayable upon the relisting of Stranger Holdings PLC. The amount of the loan outstanding at the year-end was £106,550 and the maximum amount outstanding was £141,000. At the year-end accrued interest amounted to £197,227. The current balance outstanding, at the date of this report, excluding interest is £106,550.
The future
The directors continue to investigate a number of opportunities for a suitable investment for the Company and looks forward to updating the market in due course.
Key performance indicators
There are no key performance indicators for this period as the Company has not completed its investment activity.
Principal risks and uncertainties
i. Business strategy
The Company is a relatively new entity with no operating history and has not yet completed the acquisition of a suitable investment.
The Company may be unable to complete a suitable acquisition in a timely manner
ii. Liquidity Risk
The Directors have reviewed the working capital requirements and believe that there is sufficient working capital to fund the business.
Going Concern
As stated in note 2 to the financial statements, the Directors and James Longley, a shareholder, have offered letters of support confirming that they will provide such additional working capital as necessary to enable the Company to meet all of its debts as and when they fall due for a period of at least twelve months from the date of approval of the financial statements. On this basis the Directors are satisfied that the Company has sufficient resources to continue in operation for the foreseeable future, a period of not less than 12 months from the date of this report. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
DIRECTORS' REPORT
The directors present their report and the audited financial statements for the year to 31 August 2019.
Results and dividends
The trading results for the period and the Company's financial position at the end of the period are shown in the attached financial statements.
The directors have not recommended a dividend.
Strategic Report
In accordance with section 414C (11) of the Companies Act 2006 the Company chooses to report the review of the business, the future outlook and the risks and uncertainties faced by the Company in the Strategic Report.
Directors
The following directors have held office during the period:
Charles Tatnall
Tim Cottier
Share capital
Fandango Holdings Plc is incorporated as a public limited company and is registered in England and Wales with the registered number 10346576. Details of the Company’s issued share capital, together with details of movements during the year, are shown in Note 13. The Company has one class of Ordinary shares and all shares have equal voting rights and rank pari passu for the distribution of dividends and repayment of capital.
Directors’ interests
At the date of this report the directors held the following beneficial interest in the ordinary share capital of the Company:
Director Shareholding Percentage of the Company’s Ordinary Share Capital
Charles Tatnall 30,001,000 22.39%
27,501,000
20.52%
