TEA.L Regulatory News (TEA)

9 Jan 2008 18:06

C.A. SPERATI (THE SPECIAL AGENCY) P.L.C. PRELIMINARY STATEMENT OF ANNUAL RESULTS FOR THE 12 MONTH PERIOD ENDED 31 OCTOBER 2007 C.A. SPERATI (THE SPECIAL AGENCY) P.L.C. MANAGEMENT'S COMMENTARY FOR THE 12 MONTH PERIOD ENDED 30 OCTOBER 2007 REVIEW OF THE BUSINESS Turnover has fallen by 2% compared with the same period last year. Profit beforetax decreased to £37,116 from £39,344 the previous year. Profit after tax was£31,290 against £31,973 in 2006. Your board is recommending the same dividend be paid as last year and is pleasedthat a number of new customers are placing orders with us. By order of the board A. Lilley Managing Director 9 January 2008 \* TC.A. SPERATI (THE SPECIAL AGENCY) P.L.C.------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------UNAUDITED PROFIT AND LOSS ACCOUNT-------------------------------------------------------------------------------------FOR THE PERIOD ENDED 31 OCTOBER 2007------------------------------------------------------------------------------------- Year to Year to 31 October 31 October 2007 2006------------------------------------------------------------------------------------- £ £-------------------------------------------------------------------------------------TURNOVER 808,172 826,182------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------Cost of Sales (388,380) (400,961)------------------------------------------------------------------------------------- ----------- ------------------------------------------------------------------------------------------------Gross Profit 419,792 425,221------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------Other Operating Expenses (416,656) (413,288)-------------------------------------------------------------------------------------Other Operating Income 13,193 10,269------------------------------------------------------------------------------------- ----------- ------------------------------------------------------------------------------------------------PROFIT ON ORDINARY-------------------------------------------------------------------------------------ACTIVITIES BEFORE TAXATION 37,116 39,344------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------Taxation (5,826) (7,371)------------------------------------------------------------------------------------- ----------- ------------------------------------------------------------------------------------------------PROFIT ON ORDINARY-------------------------------------------------------------------------------------ACTIVITIES BEFORE TAXATION 31,290 31,973------------------------------------------------------------------------------------- ----------- ------------------------------------------------------------------------------------------------ 31.3p 32.0p------------------------------------------------------------------------------------- ----------- ------------------------------------------------------------------------------------------------All activities are continuing.-------------------------------------------------------------------------------------No separate statement of total recognised gains and losses is presented as all such gains and losses have been dealt with in the profit and loss account.-------------------------------------------------------------------------------------\* T \* TC.A. SPERATI (THE SPECIAL AGENCY) P.L.C.------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------UNAUDITED BALANCE SHEET-------------------------------------------------------------------------------------AS AT 31 OCTOBER 2007------------------------------------------------------------------------------------- As at As at 31 October 31 October 2007 2006-------------------------------------------------------------------------------------FIXED ASSETS £ £------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------Tangible Assets 84,012 69,813------------------------------------------------------------------------------------- ----------- -------------------------------------------------------------------------------------------------CURRENT ASSETS------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------Stocks 275,884 236,360-------------------------------------------------------------------------------------Debtors 166,311 167,560-------------------------------------------------------------------------------------Investment 4,099 4,099-------------------------------------------------------------------------------------Cash at Bank and in Hand 446,453 493,444------------------------------------------------------------------------------------- ----------- ------------------------------------------------------------------------------------------------ 892,747 901,463-------------------------------------------------------------------------------------CREDITORS:-------------------------------------------------------------------------------------Amounts falling due within one year (106,303) (107,377)------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------- ------------ -------------------------------------------------------------------------------------------------NET CURRENT ASSETS 786,444 794,086------------------------------------------------------------------------------------- ------------ ------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------TOTAL ASSETS LESS CURRENT LIABILITIES 870,456 863,899------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------PROVISION FOR LIABILITIES AND CHARGES (1,556) (1,289)------------------------------------------------------------------------------------- ------------ -------------------------------------------------------------------------------------------------- 868,900 862,610------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------CAPITAL AND RESERVES------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------Called up Share Capital 50,000 50,000-------------------------------------------------------------------------------------Revaluation Reserve 22,128 22,128-------------------------------------------------------------------------------------Profit and Loss account 796,772 790,482------------------------------------------------------------------------------------- ----------- ------------------------------------------------------------------------------------------------SHAREHOLDERS' FUNDS 868,900 862,610------------------------------------------------------------------------------------- ----------- ------------------------------------------------------------------------------------------------\* T \* TC.A. SPERATI (THE SPECIAL AGENCY) P.L.C.------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------UNAUDITED CASH FLOW STATEMENT FOR THE PERIOD ENDED 31 OCTOBER 2007------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------- Year to Year to 31 October 31 October 2007 2006------------------------------------------------------------------------------------- £ £------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------Operating Profit 16,329 22,202-------------------------------------------------------------------------------------Depreciation of tangible assets 9,390 7,362-------------------------------------------------------------------------------------Increase in Stock (39,524) (47,536)-------------------------------------------------------------------------------------(Decrease)/Increase in debtors 1,249 (2,710)-------------------------------------------------------------------------------------Increase/(Decrease) in creditors 747 (14,837)-------------------------------------------------------------------------------------Loss on sale of fixed assets 3,072 3,067------------------------------------------------------------------------------------- ------------ -------------------------------------------------------------------------------------------------Net cash outflow from operating activities (8,737) (32,452)------------------------------------------------------------------------------------- ------------ ------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------Returns on investments and servicing of finance-------------------------------------------------------------------------------------Interest Received 20,686 17,142-------------------------------------------------------------------------------------Dividends 101 -------------------------------------------------------------------------------------- ---------- ------------------------------------------------------------------------------------------------ 20,787 17,142------------------------------------------------------------------------------------- ---------- ------------------------------------------------------------------------------------------------ -------------------------------------------------------------------------------------Taxation-------------------------------------------------------------------------------------Corporation tax paid (7,380) (11,075)------------------------------------------------------------------------------------- ---------- ------------------------------------------------------------------------------------------------ -------------------------------------------------------------------------------------Capital Expenditure-------------------------------------------------------------------------------------Purchase of fixed assets (30,061) (14,956)-------------------------------------------------------------------------------------Sale of fixed assets 3,400 2,725-------------------------------------------------------------------------------------Purchase of Investment - (4,099)------------------------------------------------------------------------------------- ---------- ------------------------------------------------------------------------------------------------ (26,661) (16,330)------------------------------------------------------------------------------------- ----------- ------------------------------------------------------------------------------------------------ -------------------------------------------------------------------------------------Equity dividends paid (25,000) (25,500)------------------------------------------------------------------------------------- ----------- ------------------------------------------------------------------------------------------------ -------------------------------------------------------------------------------------Decrease in cash in period (46,991) (67,715)------------------------------------------------------------------------------------- ----------- ------------------------------------------------------------------------------------------------ -------------------------------------------------------------------------------------Reconciliation of net cashflow to movement in net funds------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------Decrease in cash (46,991) (67,715)-------------------------------------------------------------------------------------Net funds at 1 November 2006 493,444 561,159------------------------------------------------------------------------------------- ----------- ------------------------------------------------------------------------------------------------Net funds at 31 October 2007 446,453 493,444------------------------------------------------------------------------------------- ----------- ------------------------------------------------------------------------------------------------\* T C.A. SPERATI (THE SPECIAL AGENCY) P.L.C. PRELIMINARY RESULTS FOR THE 12 MONTH PERIOD ENDED 31 OCTOBER 2007 Notes 1. The above results for the years ended 31 October 2007 and 2006 do notconstitute statutory financial statements within the meaning of Section 240 ofthe Companies Act 1985. The financial information for the year ended 31 October 2006 is derived from thestatutory accounts for that year which have been delivered to the Registrar ofCompanies. The auditors' report on these accounts was unqualified and did notcontain statements under section 237 (2) and (3) of the Companies Act 1985. The statutory accounts for the year ended 31 October 2007 will be finalised onthe basis of the financial information presented by the directors in thispreliminary announcement and will be delivered to the Registrar of Companiesfollowing the company's Annual General Meeting. This preliminary announcement has been prepared on the basis of accountingpolicies set out in the 2006 accounts. All accounting policies have been appliedconsistently during the current and prior years. This announcement was approved and authorised for issue by the Board on 9January 2008. 2. The Directors propose to recommend a dividend of 25p per share for the yearto 31 October 2007 payable to shareholders listed on the Register on 18 April2008. Dividend payment date is 16 May 2008. In accordance with FRS21, dividends are accounted for in the period in whichthey are paid and approved by the shareholders. Accordingly the final dividendproposed in respect of the year ended 31 October 2007 has not been included as aliability as at 31 October 2007. During the year, dividends of £25,000 (2006 - £25,000) were paid. 3. During the year shareholders' equity increased by £6,290 (2006 - £6,973)represented by the profit for the year of £31,290 (2006 - £31,973) lessdividends paid of £25,000 (2006 - £25,000). Copyright Business Wire 2008