Last checked at 8 Dec 2009 16:02
For immediate release 8 December 2009
Ricmore Capital Plc
( or the "Company")
Unaudited Interim Results for the Six Months Ended 30 September 2009
Chairman's statement
Introduction
Throughout this interim six month period to 30 September 2009 the Company has been an Investing Company. This follows the disposal by the Company, on 9 January 2009 of the entire issued share capital of Energy Assets Limited, a wholly owned subsidiary of the Company and its principal trading entity.
Period covered
The Company changed its accounting reference date from 31 December to 31 March and issued statutory accounts for the period to 31 March 2009 in order to better inform shareholders by presenting audited Financial Statements made up to a period after the sale of its trading subsidiary. Accordingly these condensed financial statements present the financial results for the six months to September 2009. Comparative information reflects the fifteen month period to 31 March 2009 and the first six months of that extended financial period to 30 June 2008.
Financial Results
In the 6 months to 30 September 2009 the Company made a loss after taxation of £68,734 (2008 - loss £83,880) representing a loss per share of 0.02p (2008 - loss 0.03p per share).
Following receipt of the initial consideration arising from the sale of Energy Assets Limited in January 2009, and after settlement of costs, cash balances amounted to some £374,000 at the end of September 2009.
The Future
Your board is seeking out suitable acquisitions and meanwhile is endeavouring to keep costs to a minimum whilst conserving cash.
Contact: John Shaw, Ricmore Capital Plc on 07973 826613
Roland Cornish, Beaumont Cornish Limited on 020 7628 3396
| Ricmore Capital Plc | ||||
| Statement of Comprehensive Income | ||||
| for the six month period ended 30 September 2009 | ||||
| Note | Six months to 30 September 2009 | Six months to 30 June 2008 | Period to 31 March 2009 | |
| Unaudited | Unaudited | Audited | ||
| £ | £ | £ | ||
| Revenue | - | - | - | |
| Cost of sales | - | - | - | |
| Gross Profit | - | - | - | |
| Operating expenses | (69,606) | (85,442) | (377,582) | |
| Operating loss | (69,606) | (85,442) | (377,582) | |
| Finance Income | 872 | 1,562 | 5,041 | |
| Loss on disposal of subsidiary undertakings | - | - | (2,917,095) | |
| Loss before taxation | (68,734) | (83,880) | (3,289,636) | |
| Taxation | - | - | - | |
| Loss after taxation | (68,734) | (83,880) | (3,289,636) | |
| Total comprehensive income attributable to equity shareholders | (68,734) | (83,880) | (3,289,636) | |
| Loss per share basic and diluted (p) | 2 | (0.02) | (0.03) | (0.99) |
| Ricmore Capital Plc | ||||
| Balance Sheet | ||||
| As at 30 September 2009 | ||||
| 30 September | 30 June | 31 March | ||
| 2009 | 2008 | 2009 | ||
| Unaudited | Unaudited | Audited | ||
| Note | £ | £ | £ | |
| Assets | ||||
| Non current assets | ||||
| Investment | - | 2,382,690 | - | |
| Total non current assets | - | 2,382,690 | - | |
| Current assets | ||||
| Trade and other receivables | 4 | 515,239 | 1,562,125 | 515,239 |
| Cash and cash equivalents | 374,268 | 194,495 | 451,855 | |
| Total current assets | 889,507 | 1,756,620 | 967,094 | |
| Total Assets | 889,507 | 4,139,310 | 967,094 | |
| Equity and liabilities attributable to equity holders of the Company | ||||
| Share capital and reserves | ||||
| Issued capital | 5 | 3,327,684 | 3,327,684 | 3,327,684 |
| Share premium account | 1,145,899 | 1,145,899 | 1,145,899 | |
| Reserves | (3,609,141) | (391,224) | (3,540,407) | |
| Total Equity | 864,442 | 4,082,359 | 933,176 | |
| Current liabilities | ||||
| Trade and other payables | 25,065 | 56,951 | 33,918 | |
| Total current liabilities | 25,065 | 56,951 | 33,918 | |
| Total Equity and Liabilities | 889,507 | 4,139,310 | 967,094 | |
| Ricmore Capital Plc | |||||
| Statement in Changes in Equity | |||||
| for the six month period ended 30 September 2009 | |||||
| Share | Share | Retained | |||
| Capital | Premium | Earnings | Total | ||
| £ | £ | £ | £ | ||
| Balance at 1 April 2009 | 3,327,684 | 1,145,899 | (3,540,407) | 933,176 | |
| Total comprehensive income attributable to equity shareholders | - | - | (68,734) | (68,734) | |
| Balance at 30 September 2009 | 3,327,684 | 1,145,899 | (3,609,141) | 864,442 | |
| Balance at 1 January 2008 | 2,787,684 | 1,163,929 | (363,917) | 3,587,696 | |
| Total comprehensive income attributable to equity shareholders | - | - | (83,880) | (83,880) | |
| Share based payments | - | - | 56,573 | 56,573 | |
| Shares issued | 540,000 | - | - | 540,000 | |
| Share issue costs | - | (18,030) | - | (18,030) | |
| Balance at 30 June 2008 | 3,327,684 | 1,145,899 | (391,224) | 4,082,359 | |
| Balance at 1 January 2008 | 2,787,684 | 1,163,929 | (363,917) | 3,587,696 | |
| Total comprehensive income attributable to equity shareholders | - | - | (3,289,636) | (3,289,636) | |
| Share based payments | - | - | 113,146 | 113,146 | |
| Shares issued | 540,000 | - | - | 540,000 | |
| Share issue costs | - | (18,030) | - | (18,030) | |
| Balance at 31 March 2009 | 3,327,684 | 1,145,899 | (3,540,407) | 933,176 | |
| Ricmore Capital Plc | ||||
| Cash Flow Statement | ||||
| for the six months ended 30 September 2009 | ||||
| 30 September | 30 June | 31 March | ||
| 2009 | 2008 | 2009 | ||
| £ | £ | £ | ||
| Unaudited | Unaudited | Audited | ||
| Cash flows from operating activities | ||||
| Operating loss for the year as per income statement | (69,606) | (85,442) | (377,582) | |
| Share based payments | - | 56,573 | 113,146 | |
| (69,606) | (28,869) | (264,436) | ||
| Movements in working capital | ||||
| Increase in trade and other receivables | - | (327,043) | (847,770) | |
| Decrease in trade and other payables | (8,853) | 4,905 | (18,128) | |
| Net cash generated from operations | (78,459) | (351,007) | (1,130,334) | |
| Cash flows from financing activities | ||||
| Net proceeds from issue of equity shares | - | 521,970 | 521,970 | |
| Net cash flows from financing activities | - | 521,970 | 521,970 | |
| Cash flows from investing activities | ||||
| Interest received | 872 | 1,562 | 5,041 | |
| Net proceeds of sale of subsidiary | - | - | 1,033,208 | |
| Net cash flows from investing activities | 872 | 1,562 | 1,038,249 | |
| Net (decrease)/increase in cash and cash equivalents | (77,587) | 172,525 | 429,885 | |
| Cash and cash equivalents at the beginning of period | 451,855 | 21,970 | 21,970 | |
| Cash and cash equivalents at end of period | 374,268 | 194,495 | 451,855 | |