Consolidated Statement of Comprehensive Income

FOR THE PERIOD ENDED 30 JUNE 2024

	Note	6 months ended 30 June 2024	6 months ended 30 June 2023	Year ended 31 December 2023
		Unaudited	Unaudited	Audited
		£'000	£'000	£'000
Administrative expenses		(2,753)	(2,260)	(5,423)
Operating loss		(2,753)	(2,260)	(5,423)
Finance income		113	163	345
Finance expense		(22)	(24)	(49)
Loss before taxation		(2,662)	(2,121)	(5,127)
Taxation	4	357	512	1,012
Loss for the financial period		(2,305)	(1,609)	(4,115)

Items that may be reclassified subsequently to profit or loss:
Foreign currency translation differences		9	12	9
Fair value decrease in respect of investments		(254)	(42)	(438)
Total comprehensive expense for the period		(2,550)	(1,639)	(4,544)
Basic and diluted earnings per share (pence)	5	(0.86)	(0.60)	(1.54)

The accompanying notes are an integral part of these condensed interim consolidated financial statements.

Consolidated Statement of Financial Position

AS AT 30 JUNE 2024

	Note	30 June 2024	30 June 2023	31 December 2023
		Unaudited	Unaudited	Audited
		£'000	£'000	£'000
Assets
Non-current assets
Intangible assets	6	9,427	6,828	7,614
Property, plant and equipment		2,736	1,626	2,642
Fair value through OCI investments	7	805	1,455	1,059
Trade and other receivables		120	120	120
		13,088	10,029	11,435
Current assets
Inventories	8	3,966	2,443	3,155
Trade and other receivables	9	1,650	2,304	1,449
Current asset investments		-	8,000	6,000
Cash and cash equivalents		4,000	4,907	2,468
		9,616	17,654	13,072
Total assets		22,704	27,683	24,507
Liabilities
Current liabilities
Trade and other payables		(1,562)	(717)	(1,037)
Deferred income		-	(1,802)	-
Lease liabilities		(162)	(124)	(128)
		(1,724)	(2,643)	(1,165)
Non-current liabilities
Deferred income		(1,771)	(630)	(1,780)
Lease liabilities		(672)	(673)	(609)
		(2,443)	(1,303)	(2,389)
Total liabilities		(4,167)	(3,946)	(3,554)
Net assets		18,537	23,737	20,953
Equity
Called up share capital		2,682	2,682	2,682
Share premium account		27,707	27,707	27,707
Merger reserve		3,702	3,702	3,702
Currency translation reserve		3	(3)	(6)
Accumulated loss		(15,557)	(10,351)	(13,132)
Total equity		18,537	23,737	20,953

The accompanying notes are an integral part of these condensed consolidated financial statements.

Consolidated Statement of Changes in Equity

FOR THE PERIOD ENDED 30 JUNE 2024

	Called up share capital £'000	Share premium account £'000	Merger reserve £'000	Foreign currency reserve £'000	Accumulated loss £'000	Total Equity £'000
Balance as at 1 January 2023	2,654	27,638	3,702	(15)	(8,808)	25,171
Loss for the financial year	-	-	-	-	(4,115)	(4,115)
Other comprehensive expense	-	-	-	9	(438)	(429)
Total comprehensive expense for the year	-	-	-	9	(4,553)	(4,544)
Share based payments	-	-	-	-	229	229
Issue of share capital	28	69	-	-	-	97
Total contributions by owners	2,682	27,707	3,702	(6)	(13,132)	20,953
Balance as at 31 December 2023
Loss for the financial period	-	-	-	-	(2,305)	(2,305)
Other comprehensive expense	-	-	-	9	(254)	(245)
Total comprehensive expense for the period	-	-	-	9	(2,559)	(2,550)
Share based payments	-	-	-	-	134	134
Total contributions by owners	-	-	-	-	134	134
Balance as at 30 June 2024	2,682	27,707	3,702	3	(15,557)	18,537

Comparatives for the six months ended 30 June 2023 are provided separately below:

Called up share capital

£'000

Share premium account

£'000

Merger reserve

£'000

<

Greece-Bulgaria Hydrogen Pipeline Undergoes Market Test Amid European Decarbonization Push