CHAIRMAN’S STATEMENT

On behalf of the Board, I present Trafalgar Property Group Plc (the Group), results for the year ended 31 March 2022  which includes one property sale completed in the year. The overall result was disappointing, as can be seen in the attached Accounts and Strategic Report. We are continuing to progress an existing land option that we hold in Leatherhead Surrey for a scheme to build seven properties. The Appeals Inspector has recently visited and we are awaiting his decision.

Financials

The year under review saw the Group turnover at £64,839 (2021: £2,285,800), with a loss after tax of £486,336 (2021: Loss £329,194).

Management have performed a review of the assets and liabilities of the underlying subsidiaries which form the value of the anticipated profits on ongoing developments.

Due to the uncertainties and timing these planning appeals, it has been agreed by management not to include any future anticipated profits of developments in their assessment.

The cash on the balance sheet at the end of the year was £12,753 (2021: £246,193) and the Group continues to have sufficient bank facilities for all planned activities.

Business Environment and Outlook

No new directors were appointed to the Group this year but we are pleased to announce that Dr Paul Challinor joined our Board on 11 May 2022. Dr Challinor is an acknowledged expert in the field of hydroponics and the crop nutrition sector and he is progressing the opportunities open to us in this area.

The effects of the Covid-19 pandemic have affected our business since March 2020 as sales of completed units have been delayed with the planning process being negatively impacted. Like most businesses, we are aware of our need to conduct ourselves carefully to preserve the health of our staff and customers and to conserve our cash reserves.

I would refer you to the Strategic Report that covers our activities in more detail.

James Dubois
Chairman

27 September 2022