Document and Entity Information
Document and Entity Information | 9 Months Ended |
Mar. 31, 2016shares | |
Document And Entity Information | |
Entity Registrant Name | Admiral Financial Corp |
Entity Central Index Key | 828,530 |
Document Type | 10-Q |
Document Period End Date | Mar. 31, 2016 |
Amendment Flag | false |
Current Fiscal Year End Date | --06-30 |
Is Entity a Well-known Seasoned Issuer? | No |
Is Entity a Voluntary Filer? | No |
Is Entity's Reporting Status Current? | Yes |
Entity Filer Category | Smaller Reporting Company |
Entity Common Stock, Shares Outstanding | 10,987,000 |
Document Fiscal Period Focus | Q3 |
Document Fiscal Year Focus | 2,016 |
Balance Sheets
Balance Sheets - USD ($) | Mar. 31, 2016 | Jun. 30, 2015 |
CURRENT ASSETS | ||
Cash | $ 0 | $ 0 |
Prepaid expenses and other assets | 0 | 0 |
Net assets of Haven Federal Savings and Loan Association | 0 | 0 |
Total assets | 0 | 0 |
CURRENT LIABILITIES | ||
Accrued expenses and other current liabilities | 24,000 | 24,000 |
Net liabilities of Haven Federal Savings and Loan Association | 0 | 0 |
Total liabilities | $ 24,000 | $ 24,000 |
SHAREHOLDERS DEFICIT | ||
Preferred stock, $0.01 par value, Authorized 6,000,000 shares; none outstanding | ||
Common stock, $.001 par value, 50,000,000 shares authorized, 10,987,000 shares issued | $ 11,000 | $ 11,000 |
Treasury stock, 1,954 and 1,954 shares; at cost | 0 | 0 |
Additional paid in capital | 681,000 | 681,000 |
Deficit | (716,000) | (716,000) |
Total shareholders (deficit) equity | (24,000) | (24,000) |
Total liabilities and shareholders (deficit) equity | $ 0 | $ 0 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2016 | Jun. 30, 2015 |
Statement of Financial Position [Abstract] | ||
Preferred shares, par value | $ 0.01 | $ 0.01 |
Preferred shares, shares authorized | 6,000,000 | 6,000,000 |
Preferred shares, issued and outstanding | 0 | 0 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common Stock, shares issued | 10,987,000 | 10,987,000 |
Common stock, shares outstanding | 10,987,000 | 10,987,000 |
Treasury Stock, shares issued | 1,954 | 1,954 |
Statements of Operations
Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
Income | ||||
Interest income | $ 0 | $ 0 | $ 0 | $ 0 |
Other, net | 0 | 0 | 0 | 0 |
Total income | 0 | 0 | 0 | 0 |
Expenses | ||||
Employee compensation | 0 | 0 | 0 | 0 |
Other | 0 | 0 | 0 | 0 |
Total expenses | 0 | 0 | 0 | 0 |
Loss from discontinued operation | 0 | 0 | 0 | 0 |
Net loss | $ 0 | $ 0 | $ 0 | $ 0 |
Loss per share | $ 0 | $ 0 | $ 0 | $ 0 |
Dividend per share | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average number of shares outstanding | 10,985,046 | 10,985,046 | 10,985,046 | 10,985,046 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 9 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Cash flows from operating activities | ||
Net loss | $ 0 | $ 0 |
Adjustments to reconcile net income to cash provided by operating activities: | ||
Decrease in deficit arising from confiscation of Haven Federal after retroactive disallowance of agreed supervisory goodwill and regulatory capital | 0 | 0 |
Decrease in pre-paid expenses and other assets | 0 | 0 |
Decrease (increase) in net assets of Haven Federal | 0 | 0 |
(Decrease) in accrued expenses and other liabilities | 0 | 0 |
(Decrease) Increase in net liabilities of Haven Federal | 0 | 0 |
Amortization of organization expenses | 0 | 0 |
Net cash provided (used) by operating activities | 0 | 0 |
Cash and cash equivalents, at beginning of the period | 0 | 0 |
Cash and cash equivalents, at end of the period | $ 0 | $ 0 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Mar. 31, 2016 | |
Basis Of Presentation | |
Basis of Presentation | Note 1. In the opinion of management, the accompanying consolidated financial statements contain all the adjustments necessary to present fairly the financial statements of Admiral Financial Corp. ('Admiral') and Subsidiary. |
Additional Financial Informatio
Additional Financial Information | 9 Months Ended |
Mar. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Additional Financial Information | Note 2. The net assets of Admirals principal operating subsidiary, Haven Federal Savings and Loan Association ('Haven'), and net liabilities are presented in the balance sheets in the aggregate; and its loss is shown in the aggregate in the Statements of Operations for the three and nine month periods ended March 31, 2016 and 2015. |