TEA.L Regulatory News (TEA)

30 Jun 2008 18:27

C.A. SPERATI (THE SPECIAL AGENCY) P.L.C. INTERIM REPORT FOR THE 6 MONTH PERIOD ENDED 30 APRIL 2008 MANAGEMENTS' COMMENTARY FOR THE 6 MONTH PERIOD ENDED 30 APRIL 2008 Turnover was £355,418 for the half year to 30 April 2008, as compared with£346,722 for the same period last year. This has resulted in a pre-tax loss of£416 as against a loss of £19,437 for the same period last year. Despite a small rise in turnover in the first half of the year and a reducedloss as compared with the first half of 2006/07, trading conditions aredifficult and your Directors remain caution for the second half of the year. By order of the board A. LilleyDirector 30 June 2008 PROFIT AND LOSS ACCOUNT FOR THE 6 MONTH PERIOD ENDED 30 APRIL 2008 \* T Unaudited Unaudited Audited 6 Months 6 Months Year to 30 April 30 April 31 October 2008 2007 2007 £ £ £ TURNOVER 355,418 346,722 808,172 Cost of Sales (182,583) (182,454) (388,380) ------------- -------------- -------------Gross Profit 172,885 164,268 419,792 Other Operating Expenses (188,595) (200,224) (416,656) Other Operating Income 4,635 6,729 13,193 ------------- -------------- -------------OPERATING LOSS (11,125) (29,227) 16,329 Investment Income 10,709 9,790 20,787 ------------- -------------- -------------LOSS/PROFIT ON ORDINARYACTIVITIES BEFORE TAXATION (416) (19,437) 37,116 Taxation (2,487) 3,476 (5,826) ------------- -------------- -------------LOSS/PROFIT ON ORDINARYACTIVITIES AFTER TAXATION (2,903) (15,961) 31,290 ============= ============== ============= LOSS/EARNINGS PER ORDINARY SHARE OF 50p (2.9)p (15.9)p 31.3p ============= ============== =============\* T \* T All operations are continuing.\* T BALANCE SHEET AS AT 30 APRIL 2008 \* T Unaudited Unaudited Audited 6 Months 6 Months Year to 30 April 30 April 31 October 2008 2007 2007 £ £ £FIXED ASSETS Tangible Assets 79,487 78,775 84,012 -------------- --------------- -------------CURRENT ASSETS Stocks 278 ,581 276,493 275,884 Debtors 79,032 117,440 166,311 Investments 4,099 4,099 4,099 Cash at Bank and in Hand 501,075 421,469 446,453 -------------- --------------- ------------- 862,787 819,501 892,747CREDITORS: Amounts falling due within one year (99,721) (75,338) (106,303) -------------- --------------- ------------- NET CURRENT ASSETS 763,066 744,163 786,444 -------------- --------------- ------------- TOTAL ASSETS LESS CURRENT LIABILITIES 842,553 822,938 870,456 PROVISION FOR LIABILITIES AND CHARGES (1,556) (1,289) (1,556) -------------- --------------- -------------NET ASSETS 840,997 821,649 868,900 ============== =============== ============= CAPITAL AND RESERVES Called up Share Capital 50,000 50,000 50,000 Revaluation Reserve 22,128 22,128 22,128 Profit and Loss Account 768,869 749,521 796,772 -------------- --------------- -------------SHAREHOLDERS' FUNDS 840,997 821,649 868,900 ============== =============== =============\* T Approved and authorised for issue by the board on 30 June, 2008 A. LilleyDirector CASH FLOW STATEMENT FOR THE 6 MONTH PERIOD ENDED 30 APRIL 2008 \* T Unaudited Unaudited Audited 6 Months 6 Months Year to 30 April 30 April 31 October 2008 2007 2007 £ £ £ Operating Loss (11,125) (29,227) 16,329 Depreciation of Tangible Assets 5,186 4,866 9,390 Loss on Sale of Fixed Assets - 3,072 3,072 (Increase) in Stock (2,697) (40,133) (39,524) Decrease in Debtors 87,279 53,596 1,249 (Decrease) in Creditors (34,069) (57,039) 747 ----------- ---------------- ---------------NET CASH INFLOW/OUTFLOW FROMOPERATING ACTIVITIES 44,574 (64,865) (8,737) =========== ================ =============== RETURNS ON INVESTMENTS AND SERVICING OF FINANCE Interest Received 10,634 9,790 20,868 Dividends Received 75 - 101 ----------- ---------------- ---------------TAXATION 10,709 9,790 20,969 =========== ================ =============== Corporation Tax Paid - - (7,380) =========== ================ =============== CAPITAL EXPENDITURE Purchase of Fixed Assets (661) (20,300) (30,061) Sale of Fixed Assets - 3,400 3,400 ----------- ---------------- --------------- (661) (16,900) (26,661) =========== ================ ===============EQUITY DIVIDEND PAID - - (25,000) =========== ================ =============== INCREASE/(DECREASE) IN CASH IN PERIOD 54,622 (71,975) (46,991) =========== ================ =============== RECONCILIATION OF NET CASHFLOW TO MOVEMENT IN NET FUNDS Increase/(Decrease) in Cash 54,622 (71,975) (46,991) Net Funds at 1 November 2007 446,453 493,444 493,444 ----------- ---------------- ---------------Net Funds at 30 April 2008 501,075 421,469 446,453 =========== ================ ===============\* T INTERIM REPORT FOR THE 6 MONTH PERIOD ENDED 30 APRIL 2008 NOTES 1. The interim results to 30 April 2008, which are unaudited, have been preparedin accordance with the accounting policies which will be adopted in theCompany's next annual financial statements, which are the same as those policiesused in the preparation of the financial statements for the year ended 31October 2007. The interim results do not constitute statutory financial statements within themeaning of section 240 of the Companies Act 1985. Comparative figures for the year ended 31 October 2007 are an abridged versionof the Company's full financial statements, which carry an unqualified auditreport, do not contain a statement made under section 237(2) or (3) of theCompanies Act 1985 and have been delivered to the Registrar of Companies. 2. The credit/charge to taxation relates to UK direct taxation. 3. Movement in shareholders funds \* T Unaudited Unaudited Audited 6 months to 6 months to Year to 30 April 30 April 31 October 2008 2007 2007 £ £ £ Loss/profit for theperiod (2,903) (15,961) 31,290 Final dividends- 25p per share (25,000) (25,000) (25,000) --------------- ---------------- --------------Net movement inshareholders' funds (27,903) (40,961) 6,290 Shareholders' funds :At 1 November 2007 868,900 862,610 862,610 --------------- ---------------- --------------At 30 April 2008 840,997 821,649 868,900 =============== ================ ==============\* T The dividends were approved by the annual general meeting held on 18 March 2008(17 March 2007) and were paid on 16 May 2008 (17 May 2007). Copyright Business Wire 2008