In accordance with the Companies Act 2006 and relevant regulations, Quob Park Estate (QPE) still qualified as a Small Company for 2016. The criteria state that a Small Company must meet two of the following criteria for the 12 months to the year end balance sheet date:
- less than an average of 50 employees;
- less than £6.5 million turnover;
- less than £3.26 million balance sheet total.
QPE had a balance sheet total greater than £15 million at the 2016 balance sheet date (£12 million in 2015), and this value has continued to increase significantly since then. However, QPE meets the other two criteria, and as such, QPE, as a Small Company, have decided to file abbreviated accounts for the year ending 2016 but with a detailed Chairman and Chief Executive’s Report to provide additional information to our investors and other stakeholders.
As previously announced, our management accounts for 2016 show an Adjusted Profit Before Tax of £2.9 million. The 2016 Adjusted Profit Before Tax is down slightly from our Statutory Profit Before Tax for 2015 of £3.6 million, reflecting the circa £930,000 of provisions (referred to both here and here) that were made in combination for our investment into Daniel Stewart. As noted previously, some small element of these provisions may be released in the future once, and if, more certainty is available regarding the future value of Daniel Stewart for existing shareholders including QPE.
For those of you who have invested directly with QPE, and have registered on our FCA regulated platform, it is our intention to provide additional communications, including potential investor events, to share further details on our financial accounts and performance in 2016 and beyond, as well as to share some additional information on our future plans and strategy.
Whilst our abbreviated accounts are being filed at Companies House, we will continue to publish on the QPE Blog and highlight the investment case for each area of our business.
If you are an existing investor in QPE a set of Accounts will be posted to you, and if you wish to download a copy of our Accounts including the detailed Chairman and Chief Executive’s Report on the progress of the company, then you may do so below:
IMPORTANT DISCLOSURE INFORMATION
IMPORTANT INFORMATION REGARDING THIS BLOG POST
- This blog post has been authored by QPE and no permission has been sought or received regarding the inclusion within this blog post of any information from any other party. Where any other party’s information is contained in the blog post it should not be considered as indicating the endorsement, or other support by any third party, for QPE’s opinions as expressed herein.
- QPE does not, and does not intend to, recommend the purchase or sale of any company’s shares. No one should rely on this blog post in determining whether or not they should purchase or sell any company’s shares.
- This blog post contains QPE’s current views on the business of third parties, such views may encompass the third party’s value and actions that may be taken by the Board of such third parties to further their business and thereby enhance the value of that company’s shares.
- QPE’S views are based upon:
- its analysis of information which is publicly available, for which no assurance can be given by QPE as to such information’s accuracy or completeness; and
- assumptions that QPE believes to be reasonable, though which may prove to be incorrect.
- INVESTORS SHOULD MAKE THEIR OWN DECISIONS REGARDING ALL COMPANIES MENTIONED IN THIS BLOG POST AND THEIR PROSPECTS WITHOUT RELYING ON, OR EVEN CONSIDERING, ANY OF THE INFORMATION CONTAINED IN THIS BLOG POST.
- This blog post contains certain statements, estimates and projections including, but not limited to, statements that are predications of or indicate future events, trends, plans or objectives. Information from QPE before the date of this blog post may also have contained statements, estimates and projections with respect to anticipated future performance of certain companies. All such statements, estimates and projection are forward-looking statements and are subject to known and unknown risks and uncertainties and undue reliance should not be placed upon them. These forward-looking statements may generally, but not always, be identified by the use of words such as “anticipates”, ‘‘should’’, “expects”, “estimates”, “believes” or similar expressions. These forward-looking statements reflect various assumptions concerning anticipated results and are subject to significant business, economic and competitive uncertainties and contingencies, many of which are or may be beyond the control of QPE or any third party mentioned. Accordingly, there can be no assurance that these forward-looking statements will be realised. The actual results may vary from those projected or implied, and those variations may be material. No representations are or will be made by any party as to the accuracy or completeness of these forward-looking statements or that any projection will be achieved. Readers of this blog-post are therefore cautioned not to place reliance on these forward‑looking statements, which speak only as of the date of this document.
- Important factors that could cause actual results to differ materially from the expectations set forth in this blog post include, among other things, the factors identified under the section entitled as risk factors in each featured company’s Annual Report for the year or other published information from that company. Such forward-looking statements should, therefore, be construed in light of such factors, and QPE is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
- The actual results and performance of featured companies will be determined by the decisions made by their Boards, the actions that such companies take and the factors affecting the markets in which they operate. Consequently, such results and performance may differ materially from QPE’s views, analysis and assumptions
- This blog post makes clear what QPE believes should be the value of certain company shares, it does not purport to be, nor should it be read, as an expression of any opinion or prediction as to the price at which such company’s shares may trade at any time.
- This blog post makes clear that QPE is currently invested in specified third party companies.
- QPE’s views and/or holdings of such invested company’s shares may be increased or decreased, including the possible disposal of QPE’s entire holding, at any time. Such changes or the taking of any actions regarding invested companies may be made without QPE revising this blog post or providing any advance notice.