from Alina Holdings PLC (isin : GB00B1VS7G47)
Alina Holdings PLC: Annual Financial Report to 31 December 2024
Alina Holdings PLC (ALNA) Alina Holdings PLC
Alina Holdings PLC (Reuters: ALNA.L, Bloomberg: ALNA:LN) (“Alina”, “ALNA” or the “Company”)
AUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2024 The Company today announces its audited results for the year ended 31 December 2024. The information set out below is extracted from the Company's Report and Accounts for the year ended 31 December 2024, which will be published today on the Company's website www.alina-holdings.com. A copy has also been submitted to the National Storage Mechanism where it will be available for inspection. Cross-references in the extracted information below refer to pages and sections in the Company's Report and Accounts for the year ended 31 December 2024. Highlights for the Year ended 31 December 2024 GROUP RESULTS 2024 versus 2023
Report for the Year to 31 December 2024
Alina Holdings PLC (“Alina” or the “Company”) is a company registered on the Main Market of the London Stock Exchange. The group financial statements consolidate those of the Company and its subsidiaries (together referred to as the “Group”).
2024 was a year of change; property prices held up and Bristol Council dismantled the scaffolding surrounding and disturbing our tenants. Some annoying litigation was resolved; thankfully in our favour, however, collecting Court awarded costs has so far proven elusive. Our Bristol Property is now virtually fully let and being actively marketed.
In Hastings, the former Argos unit has now been refurbished and asbestos removed. Claim for expenditure plus costs has been submitted to Sainsbury’s, the new owner of Argos per the ‘full repairing lease’ that they have ignored.
External work on the façade of the Hastings building still needs to be completed but is being delayed, pending settlement of our claim against Argos/Sainsbury.
Duncan Soukup Chairman
Alina Holdings plc 28 April 2025
Financial Review
The financial statements contained in this report have been prepared in accordance with UK Adopted International Accounting Standards.
Result
The Group recorded a reduced loss for the year to 31 December 2024 of (£327K) vs 2023 loss of (£1.1m).
Throughout the reporting period the Group had no borrowings and held cash reserves at 31 December 2024 of £850K vs 2023 of £1.117 million.
Operating Expenses
Property operating expenses for the year to 31 December 2024 were £139K vs 2023 £298K.
Administrative Expenses
Administrative expenses were £693K in 2024 vs £739K during the year to 31 December 2023. Every effort will be made to further reduce operating expenses in 2025.
Shareholders’ Equity (Book Value or BV)
The BV at 31 December 2024 was £4.65 vs £4.97 million in 2023, or 20.5p vs 21.9p per share in 2023.
At 31 December 2024 the Group held £850k of cash vs. £1.117m as 31 December 2023. 2024 Year-end debt was Nil as per 2023.
At 31 December 2024, the companies’ properties have been reclassified as held for sale at a valuation of £2.2m in line with 2023 carrying value. The for sale reflects the assessed third party valuation performed in 2020 as well as the selling agents recommended low end sale price.
The 2020 external valuation was undertaken in accordance with the Royal Institute of Chartered Surveyors Appraisal and Valuation Standards on the basis of market value. Market value is defined as the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s length transaction, after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.
Financing
The Group had no borrowings during the year and the Group’s operations were financed from its property income.
During the reporting period the Group held some of its cash in foreign currencies. These holdings generated a small unrealised gain at the end of the period, principally from the increase in USD value against GBP across the period. The risk associated with foreign currency holdings is described in Note 16 to the financial statements.
Dividend
In line with the Group’s current dividend distribution policy no dividend will be paid in respect of the reporting period. The directors will continue to review the dividend policy in line with progress with the Group’s investment strategy.
Risk Management & Operational Controls
The directors recognize that commercial activities invariably involve an element of risk. A number of the risks to which the business is exposed, such as the condition of the UK domestic economy and sentiment in the UK property market, are beyond the Company’s influence. However, such risk areas are monitored and appropriate mitigating action, such as reviewing the substance and timing of the Company’s operational plans, is taken wherever practicable in response to significant changes. The directors consider the risk areas the Company is exposed to in the light of prevailing economic conditions and the risk areas set out in this section are subject to review.
In relation to asset management, the Company’s approach to risk reflects the Company’s granular business model and position in the market and involves the expertise of its directors, management and third-party advisers. Operational progress and key investment and disposal decisions are considered in regular management team meetings as well as being subject to informal peer review.
Higher level risks and financial exposures are subject to constant monitoring. Major investment and disposal decisions are subject to review by the directors in accordance with a protocol set by the Board.
The Board’s approach in this area is further explained in the Governance section, under Risk & Internal Control.
Principal Risks and Uncertainties
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