Sosandar Regulatory News (SOS)

26 Jan 2006 07:00

HHK plc26 January 2006 HHK PLC Interim Results for the period to 30 September 2006 26 January 2006 The Board of HHK announces its results for the period to 30 September 2005. Your Board has investigated a number of interesting (and some not sointeresting!) transactions since being formed in March 2005. So far we have not identified anything sufficiently attractive but have ensuredthat the process of negotiation, whilst costly in terms of our own time, has notwasted the company's money. As at 17 January 2006, we have £334,000 in the bank. Currently we have a number of new and interesting opportunities that we areactively exploring and we will update shareholders as appropriate. DIRECTORSGlyn HirschMichael Hough26 January 2005 Profit and loss account Period ended 30 September 2005 Unaudited Notes £000 Administrative expenses (6) -----------Operating Loss (6) Interest receivable 8 ------Profit on ordinary activities before tax 2 Tax on profit on ordinary activities 2 - -----------Profit on ordinary activities after tax 2Dividends - -----------Retained Profit for the period 2 ----------- Earnings per ordinary share - basic 3 0.03p - diluted 3 0.02p All amounts relate to continuing activities. All recognised gains and losses are included in the profit and loss account. Balance sheet 30 September 2005 Unaudited Notes £000Current assetsDebtors 3Cash at bank and in hand 339 ----------- 342Creditors: amounts falling due within one year 1 -----------Net current assets 341 -----------Total assets less current liabilities 341 Creditors: amounts falling due after more than one year - -----------Net assets 341 ----------- Capital and reservesCalled up share capital 5 82Share premium account 6 257Profit and loss account 2 -----------Shareholders' funds - equity 7 341 ----------- The financial information was approved by the board on 26 January 2006 and signed on its behalf by: Glyn HirschDirector Statement of cash flows Period ended 30 September 2005 Unaudited Notes £000 Net cash outflow from operating activities 4(a) (8) Returns on investments and servicing of financeInterest received 8 -----------Net cash inflow before financing - ----------- FinancingIssue of ordinary shares 410Cost of share issue (71) -----------Net cash inflow from financing 339 -----------Increase in cash in the period 4(b) 339 ----------- Notes to the Interim Report 1. Basis of preparation The financial information for the period ended 30 September 2005 is preparedunder the historical cost convention and in accordance with applicable UnitedKingdom law and accounting standards and has been prepared under the historiccost convention and in accordance with applicable accounting standards. 2. Tax The tax charge for the period ended 30 September 2005 is calculated on the basisof the estimated effective tax rate for the full year. 3. Earnings per ordinary share Period ended 30 September 2005 Unaudited No. Weighted average ordinary shares in issue during the period 7,400,000Dilutive effect of share options 4,483,568 ---------------Diluted weighted average ordinary shares 11,883,568 --------------- £000 Net profit for the financial period 2 ----------- Pence Basic earnings per 5p ordinary share 0.03Diluted earnings per 5p ordinary share 0.02 4. Notes to the statement of cash flows (a) Reconciliation of operating loss to net cash inflow/(outflow) fromoperating activities Period ended 30 September 2005 Unaudited £000 Operating loss (6)Increase in debtors (3)Increase in creditors 1 ----------- (8) ----------- (b) Reconciliation of net cash flow to movement in net debt Period ended 30 September 2005 Unaudited £000 Increase in cash in the period 339 -----------Change in net debt arising from cash flows 339 Net debt at beginning of period - ----------- 339 ----------- (c) Analysis of net debt At At 1 April Cash 30 Sept 2005 flows 2005 £000 £000 £000 Cash at bank - 339 339 Bank borrowings - - - ----------- ----------- ----------- - 339 339 ----------- ----------- ----------- 5. Share Capital As at 30 September 2005 Unaudited £000Authorised100,000,000 ordinary shares of 1p each 1,000Alloted, called up and fully paid8,200,000 ordinary shares of 1p each 82 The Company was incorporated on 2nd March 2005 with an authorised share capitalof £1,000,000 divided into 100,000,000 ordinary shares of 1p each of which 2ordinary shares of 1 pence each were issued. On the 22nd March 2005, an additional 4,999,998 ordinary shares of 1 pence eachwere issued for cash at 5 pence per share. On the 24th March 2005, an additional 3,200,000 ordinary shares of 1 pence eachwere issued for cash at 5 pence per share. 6. Reserves Share Premium Profit and account loss account £'000 £'000 At the beginning of the period - -Shares issued 328 -Cost of share issue (71) -Profit for the period - 2 ----------- -----------At the end of the period 257 2 ----------- ----------- 7. Reconciliation of movements in shareholders' funds Period ended 30 September 2005 Unaudited £'000 At the beginning of the period -Issue of shares 82Premium on shares allotted (including share issue costs) 257Profit for the period 2 -----------At the end of the period 341 ----------- This information is provided by RNS The company news service from the London Stock Exchange