Palace Capital Regulatory News (PCA)

28 Oct 2005 16:00

Libra Retail PLC28 October 2005 LIBRA RETAIL PLC28 October 2005 Libra Retail PLC ("the Company") Interim results for the period from incorporation on 14 January 2005 to 31 July2005 CHAIRMAN'S STATEMENT I have pleasure in writing to you for the first time as Chairman of your companysince it was demerged from Safeland Plc and the ordinary shares admitted totrading on AIM in March 2005. For the period under review the Company made an operating loss of £32,642 andits loss per share is 0.092 pence. The directors will not be recommending adividend at this time. The directors have evaluated a number of potential acquisition opportunities todate but we have not considered any of them suitable to progress with further.Opportunities do continue to be investigated on a regular basis and I will bewriting to you once something suitable has been identified. Larry LipmanChairman28 October 2005 PROFIT AND LOSS FOR THE PERIOD FROM INCORPORATION ON 14 JANUARY 2005 TO 31 JULY2005 Period from incorporation on 14 January 2005 to Note 31 July 2005 £ Administrative expenses (32,642) OPERATING LOSS (32,642) Interest receivable and similar income 352 LOSS ON ORDINARY ACTIVITIES (32,290)BEFORE TAXATION Tax on profit on ordinary activities - LOSS ON ORDINARY ACTIVITIES AFTER 4,8 (32,290)TAXATION AND RETAINED LOSS FOR THEPERIOD BASIC LOSS PER ORDINARY SHARE (0.092) BALANCE SHEET AS AT 31 JULY 2005 (UNAUDITED) 31 July 2005 £ Note CURRENT ASSETSCash at bank and in hand 28,902 CREDITORS: amounts falling due (5,000)within one year NET CURRENT ASSETS 23,902 TOTAL ASSETS LESS CURRENT LIABILITIES 23,902 CAPITAL AND RESERVESCalled up share capital 56,192Profit and loss account (32,290) EQUITY SHAREHOLDERS' FUNDS 4 23,902 CASHFLOW STATEMENT FOR THE PERIOD FROM INCORPORATION ON 14 JANUARY 2005 TO 31JULY 2005 (UNAUDITED) Period from incorporation on 14 January 2005 to Note 31 July 2005 £ Net cash outflow from operating 5 (22,525)activities Returns on investment and servicingof financeInterest received 352 Cash outflow before financing (22,173) FinancingIssue of share capital 51,075 Increase in cash 28,902 NOTES TO THE INTERIM FINANCIAL INFORMATION (UNAUDITED) 1. Basis of preparation The financial information included in the interim report comprises the profit and loss account, the balance sheets, cash flow statement and notes 1 to 8. These have been prepared in accordance with the normal accounting policies of the Company. The financial information for the period from incorporation on 14 January 2005 to 31 July 2005 does not constitute statutory accounts within the meaning of Section 240 of the Companies Act 1985. No statutory accounts have yet been prepared for the Company, as this is the first period since incorporation. The financial information for period from incorporation on 14 January 2005 to 31 July 2005 is unaudited and has not been reviewed by the Group's auditors. Copies of this statement are being sent to all shareholders and are available to the public for collection at the company's registered office at 94-96 Great North Road, London N2 0NL. 2. Segmental information The company has not yet traded. Operating loss and net assets are derived from startup activities, predominantly the issue of share capital and administrative fees. All activities occur in the UK. 3. Loss per share The loss per share for the period is calculated based upon the following information. Period from incorporation on 14 January 2005 to 31 July 2005 £ Basic loss per shareLoss after taxation (32,290) Weighted average number of shares inissue during the period 34,750,773 Weighted average number of dilutive shareoptions in issue during the period - 4. Reconciliation of movements in shareholders' funds Period from incorporation on 14 January 2005 to 31 July 2005 £ Retained loss for the period (32,290)Issue of shares on incorporation 51,192Issue of shares in the period 5,000 Net addition to shareholders' funds 23,902 Opening shareholders' funds - Closing shareholders' funds 23,902 5. Reconciliation of operating loss to net cash outflow from operating activities Period from incorporation on 14 January 2005 to 31 July 2005 £ Operating loss (32,642)Increase in creditors 5,000Issue of shares to settle expenses 5,000Write off of share capital debtor 117 Net cash outflow from operating (22,525)activities 6. Reconciliation of net cash flow to movement in net funds Period from incorporation on 14 January 2005 to 31 July 2005 £ Increase in cash for the period 28,902 Change in net funds resulting from cash 28,902flowsNet debt brought forward - Net funds carried forward 28,902 7. Analysis of net debt At 14 January Cash 31 July 2005 flows 2005 £ £ £ Cash in hand and at bank - 28,902 28,902Debt due after one year - - -Debt due within one year - - - Total - 28,902 28,902 8. Statement of movements on share capital and reserves Called up Profit share and loss capital account Total £'000 £'000 £'000 Shares issued on incorporation 51,192 - 51,192Shares issued in period 5,000 - 5,000Retained loss for the period - (32,290) (32,290) At 31 July 2005 56,192 (32,290) 23,902 This information is provided by RNS The company news service from the London Stock Exchange