Interim Results
2006年3月28日 - 5:00PM
ＲＮＳを含む英国規制内ニュース （英語）
RNS Number:4709A
Advance Visual Communications PLC
28 March 2006
ADVANCE VISUAL COMMUNICATIONS PLC
INTERIM RESULTS
FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER 2005
Chairman's Statement
In the six months to 31 December 2005, the Company incurred a loss of #36,471
(equivalent to 0.02 pence per share) compared to a loss of #26,447 for the prior
year comparable period.
The cash balances at the end of the period were #63,769 (30 June 2005 - #95,842).
Barclay Douglas and Massoud Amiri resigned from the board on 30 December 2005
and on behalf of the board I would like to thank them for their contributions.
The Directors continue to seek out appropriate acquisition opportunities in line
with the "Investing Strategy" adopted by the Company at the last Annual General
Meeting: to acquire a single company or business which will benefit from being
listed on AIM, which has experienced management and which has the potential to
develop into a substantial company within the business services sector within
Europe. In the meantime costs are being kept to a minimum to conserve cash.
Stephen Barclay Non-Executive Chairman
28 March 2006
ADVANCE VISUAL COMMUNICATIONS PLC
UNAUDITED PROFIT AND LOSS ACCOUNT
For the six month period ended 31 December 2005
Note Six months Six months
ended ended Year ended
31 December 31 December 30 June
2005 2004 2005
# # #
TURNOVER - - -
Administration expenses (37,530) (27,493) (61,267)
OPERATING LOSS (37,530) (27,493) (61,267)
Profit on disposal and liquidation of - - -
subsidiaries
Interest receivable (bank interest) 1,059 1,046 2,065
LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION (36,471) (26,447) (59,202)
Tax on loss on ordinary activities - - -
LOSS ON ORDINARY ACTIVITIES AFTER TAXATION FOR
THE FINANCIAL YEAR (36,471) (26,447) (59,202)
LOSS PER ORDINARY SHARE 2 (0.02)p (0.01)p (0.03)p
ADVANCE VISUAL COMMUNICATIONS PLC
UNAUDITED CONSOLIDATED BALANCE SHEET
As at 31 December 2005
31 December 31 December 30 June
2005 2004 2005
# # #
Fixed Assets
Tangible assets - - -
Current assets
Cash at bank 63,769 57,692 95,8424
Debtors and prepayments 1,662 - 5,819
65,431 57,692 101,661
Creditors: amounts falling due within one year (29,597) (27,632) (29,356)
Net current assets 35,834 30,060 72,305
Net assets 35,834 30,060 72,305
Capital and reserves
Called up share capital 3 1,684,672 1,615,755 1,684,672
Share premium account 6,640,976 6,634,893 6,640,976
Profit and loss account 4 (8,289,814) (8,220,588)(8,253,343)
Shareholders' funds 35,834 30,060 72,305
Reconciliation of movements in shareholders' funds
for the period ended 31 December 2005
Profit Total
& Loss
Share Share Shareholders'
Capital Premium Account Funds
# # # #
Balance at 30 June 2005 1,684,672 6,640,976 (8,253,343) 72,305
Profit/(loss) for the period - - (36,471) (36,471)
Balance at 31 December 2005 1,684,672 6,640,976 (8,289,814) 35,834
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS
1 The financial information for the period ended 31 December 2005 is
unaudited and has been prepared on the basis of the Company's adopted
accounting policies. This financial information does not constitute
statutory accounts as defined in Section 240 of the Companies Act 1985.
2 Loss per share
The loss per share has been calculated by dividing the loss after taxation
of #36,471 by the weighted average number of Ordinary Shares in issue of
230,492,847.
3 Share capital
At 31 December 2005 the Company had 230,492,847 Ordinary Shares of 0.1p
each in issue.
4 Related party transactions
The Company has contracted with Chatsford Corporate Finance Limited, a
company of which John Shaw is a director, and in which John Shaw and
Stephen Barclay are shareholders, for the provision of administrative
support for a fee accruing at #7,500 per annum of which #1,250 had become
payable and accrued for in the period to 31 December 2005. In addition, a
further one-off fee of #5,000 is payable in respect of taking on the
administration of the Company.
Since 31 December 2005, the Company has contracted to dispose of all of
its interests in subsidiary undertakings to Advance Cornhill Limited, a
company in which John Shaw and Stephen Barclay are shareholders, for #1.
These subsidiary undertakings have no activities, are dormant and are
valued at nil in the books of the Company. Their disposal enables the
Company to present a cleaner balance sheet.
These related party transactions have been undertaken following
consultation with the Company's Nominated Advisor who considers that the
terms of the transaction are fair and reasonable insofar as
shareholders are concerned.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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Advance Visual Communications (LSE:ACV)
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