Interim Results

16 Jan 2006 11:01

Reflexion Cosmetics PLC16 January 2006 Reflexion Cosmetics plc ("Reflexion" or the "Company")Interim Results for the period ended 31 July 2005 16 January 2006 Chairman's Statement Interim Statement Reflexion Cosmetics PLC announces its interim results for the six months ended31 July 2005. Financial Highlights The loss before taxation for the six months was £29,000 (period to 31 January2005 - £373,000). Review of Operations During the six month period the Company continued to seek trading opportunities.Although a number have been reviewed nothing has as yet come to fruition. I have made available an additional £50,000 to the Company, subsequent to theperiod ended 31 July 2005, in order to provide funds for implementing theCompany's continued strategy. N RobertsonChairman Reflexion Cosmetics PLCMichael Friend Tel: 07899 940 005 W.H. IrelandTim Cofman Tel: 0121 616 2101 Buchanan CommunicationsMark Court Tel: 0207 466 5000 Reflexion Cosmetics PLCUnaudited Profit and Loss Account 6 months to Period to Period to 31 July 2005 30 September 2004 31 January 2005 £'000 £'000 £'000 Turnover - - -Cost of sales - - - ------------- ------------- -------------Gross profit - - - Other operating income and charges 32 156 380 ------------- ------------- -------------Operating Loss (32) (156) (380) Net interest and other similar charges 3 5 7 Loss on ordinary activities (29) (151) (373)Tax on loss on ordinary activities - - - ------------- ------------- -------------Loss on ordinary activities after taxation and loss retained (29) (151) (373) ======= ======= ======= Basic loss per share (0.003)p (1.780)p (4.291)p ======= ======= ======= The operating losses derived from continuing operations. There were no recognised gains or losses other than the loss for the financialperiod. Reflexion Cosmetics PLCUnaudited Summarised Balance Sheet 6 months to Period to Period to 31 July 30 September 31 January 2005 2004 2005 £'000 £'000 £'000 Current assetsDebtors 3 5 34Cash at bank and in hand 25 249 205 ----------- ----------- ----------- 28 254 239 ----------- ----------- ----------- Creditors: amounts falling duewithin one year 46 21 228 ----------- ----------- -----------Net current assets and total assetsless current liabilities (18) 233 11 ======= ======= ======= Capital and reservesCalled up share capital 88 88 88Share premium account 296 296 296Profit and loss account (402) (151) (373) ----------- ----------- -----------Shareholders' funds (18) 233 11 ======= ======= ======= Equity shareholders' funds (18) 233 11 ======= ======= ======= Reflexion Cosmetics PLCUnaudited Cashflow Statement 6 months to Period Period 31 July to 30 to 31 January 2005 September 2004 2005 Note £'000 £'000 £'000 Net cash outflow from operating activities 5 (183) (140) (186) ------------ ------------ ------------Returns on investment andservicing of financeInterest received less interest payable 3 5 7Interest paid - - - ------------ ------------ ------------Net cash inflow from returns oninvestments and servicing of finance 3 5 7 ------------ ------------ ------------ FinancingIssue of shares - 550 550Expenses in connection with share issues - 166 166 ------------ ------------ ------------Net cash inflow from financing - 384 384 (Decrease) in cash (180) (249) (205) ======= ======= ======= Reflexion Cosmetics PLCNotes to the financial information 1. Basis of preparation The unaudited interim financial information has been prepared on the basis ofthe accounting policies set out in the Company's financial statements for theperiod ended 31 January 2005. 2. Comparative figures The comparative figures are the period to 31 January 2005 and the interimstatement to 30 September 2004. The financial information contained in thisinterim statement does not constitute statutory accounts as defined in section240 of the Companies Act 1985. The financial information for the full precedingyear is extracted from the statutory accounts for the financial period ended 31January 2005. These accounts, which have been filed with the Registrar ofCompanies, were audited and reported on without qualification by the auditorsand did not contain a statement under section 237 (2) or (3) of the CompaniesAct 1985. 3. Earnings per share The calculation of earnings per share is based on a loss of £29,000 (period to30 September 2004 loss - £151,000) (period to 31 January 2005 loss - £373,000)and the weighted average number of shares in issue for the period of 8,846,154(period to 30 September 2004 - 8,483,146) (period to 31 January 2005 -8,693,615). 4. Reconciliation of movement in Shareholders' Funds 6 months to Period to 30 Period to 31 31 July 2005 September 2004 January 2005 £'000 £'000 £'000 (Loss) for the period (29) (151) (373) Net reduction of shareholders' funds Opening shareholders' funds at 1 February 2005 (373) - - ----------- ----------- ----------- Closing shareholders' funds at 31 July 2005 (402) (151) (373) ======= ======= ======= 5. Consolidated Cash Flow Statement Net cash inflow from operating activities 6 months to Period to 30 Period to 31 31 July 2005 September 2004 January 2005 £'000 £'000 £'000 Operating (loss) (32) (156) (380) Decrease/(increase) in debtors 31 (5) (34) (Decrease)/increase in creditors (182) 21 228 ----------- ----------- ----------- Net cash inflow from operating activities (183) (140) (186) ======= ======= ======= 6. Analysis of changes in net funds At 30 September At 1 February At 31 July 2004 Cash Flow 2005 Cash Flow 2005 £'000 £'000 £'000 £'000 £'000 Cash in hand 249 (44) 205 (180) 25 ======== ======== ======== ======== ======== 7. Copies of interim results and report and accounts A copy of these interim results and the report and accounts have been sent toshareholders and further copies of the report and accounts for the year ended 31January 2005 are available free of charge on request from the Company'sregistered office, PO Box 1295, Sterling House, 20 Station Road, Gerrards Cross,Buckinghamshire, SL9 8EL. This information is provided by RNS The company news service from the London Stock Exchange