Last checked at 31 Aug 2011 13:20
Analyst Investment Management Plc Registration Number 3687441 Interim Unaudited Financial Statements for the 6 Months Ended 31st May 2011 Contents Page Directors' Statement 3 Profit and Loss Account 4 Balance Sheet 5 Analyst Investment Management Plc
Directors' Statement on the Unaudited Interim Results for the Six Months Ended
31st May 2011
The Company made a loss of £41,222 which compares to a loss of £33,884 in the same period last year. Fee income increased to £30,580 (2010: £20,496) No performance-related fees were earned during the interim 6 month period.
There has been a substantial increase in cost of sales, from £14,008 to £37,760 as a result of the investment managers, Paul Cosgrove and Vincente Sagrario who have brought with them £18.1 million of assets under management. Vincente Sagrario resigned as from 1 August 2011 to join a Russian hedge fund based in Gibraltar. The administration costs increased marginally from £40,372 to £42,042.
The company had assets under management of approximately £20.0 million on 31 May 2011.
We have held discussions with several owners of fund management businesses without success and continue to identify further opportunities to enhance the business
This Statement has been prepared by and is the sole responsibility of the directors of Analyst Investment Management plc.
CHAIRMAN FINANCE DIRECTORBharat Amin Surbjit Chadda31 August 2011 Analyst Investment Management Plc Profit and Loss Account For the Six months ended 31 May 2011 Unaudited Unaudited Audited Six Months Six Months 12 months ended 31 ended 31 ended 30 May 2011 May 2010 Nov 2010 £ £ £Turnover 30,580 20,496 43,129Cost of sales (37,760) (14,008) (27,594) ______ ______ ______Gross (loss)/profit (7,180) 6,488 15,535Administrative expenses (42,042) (40,372) (101,938) ______ ______ ______ Operating loss (49,222) (33,884) (86,403)Other interest receivable and similar income 8,000 - 10,000 ______ ______ ______ Loss on ordinary activities before taxation (41,222) (33,884) (76,403)Taxation - - - ______ ______ ______ Loss on ordinary activities after taxation (41,222) (33,884) (76,403) ______ ______ ______Loss per share (pence) (0.559) (0.459) (1.036) ______ ______ ______
The earnings per share are based on the loss after taxation of £41,222 (2010: loss £33,884), and the weighted average number of ordinary 2.5 pence shares in issue during the period of 7,377,777 shares, (2010: 7,377,777 shares). Ordinary 2.5 pence shares in issue at 31st May 2011 were 7,377,777.
Analyst Investment Management Plc Balance Sheet As At 31 May 2011 Unaudited Unaudited Audited as at 31 as at 31 as at 30 May 2011 May 2010 Nov 2010 £ £ £Fixed assetsTangible assets 9,933 - 8,249Current assetsDebtors 3,173 7,277 28,846Cash at bank and in hand 344,533 433,603 368,258 ______ ______ ______ 347,706 440,880 397,104Creditors: amounts fallingdue within one year (4,000) (3,500) (10,492) ______ ______ ______ Net Current Assets 343,706 437,380 368,612 ______ ______ ______Net Assets 353,639 437,380 394,861 ______ ______ ______Capital and reservesCalled up share capital 184,444 184,444 184,444Share premium account 1,100,642 1,100,642 1,100,642Profit and loss account (931,447) (847,706) (890,225) ______ ______ ______Equity Shareholders' Funds 353,639 437,380 394,861 ______ ______ ______
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