Interim Results
16 Noviembre 2004 - 7:09AM
UK Regulatory
RNS Number:2878F
Ashpol PLC
16 November 2004
ASHPOL PLC
Group Profit & Loss Account
For the Year Ended 14 August 2004
Group Group
Year to Year to
14-Aug-04 14-Aug-03
#'000 #'000
Rental Income 10,752 9,699
Property outgoings (438) (472)
Net rental income 10,314
9,227
Administrative expenses (217) (274)
Operating profit 10,097 8,953
Profit on sale of investment (170) 828
properties
Profit on ordinary activities 9,927 9,781
before interest
Interest payable (8,063) (8,172)
Interest receivable 935 1,348
Net Interest payable 7,128 6,824
Profit on ordinary activities 2,799 2,957
before taxation
Tax on profit on ordinary (532) (579)
activities
Profit on ordinary activities 2,267 2,378
after taxation
Dividends (including (20,106) (104)
non-equity)
Retained profit (17,839) 2,274
Group Balance Sheet
At 14 August 2004
Group Group
14-Aug-04 14-Aug-03
#'000 #'000
Fixed Assets
Tangible Assets
Investment properties 115,769 119,484
115,769 119,484
Current assets
Debtors 4,197 16,810
Cash at bank 630 898
4,827 17,708
Creditors falling due within (5,156) (3,909)
one year
Net current assets (329) 13,799
Total assets less current 115,440 133,283
liabilities
Creditors falling due after one (75,000) (75,000)
year
Provisions for liabilities and (657) (657)
charges
Net assets 39,783 57,626
Capital and reserves
Called up share capital- equity 7,378 7,378
- non-equity 40,632 40,632
48,010 48,010
Share premium account 7,069 7,069
Capital redemption reserve 42 42
Profit and loss account (15,338) 2,505
39,783 57,626
Group Summarised Cash Flow Statement
For the Year Ended 14 August 2004
Group Group
Year to Year to
14-Aug-04 14-Aug-03
#'000 #'000
Net cash inflow from activities 23,788 (477)
Net interest paid (7,128) (6,824)
Preference and minority (20,106) (104)
dividends paid
Addition to investment - -
properties
Sale of investment properties 4,069 16,663
Purchase of business operations (355) (9,284)
Cash acquired - -
Net cash (outflow) / inflow 268 (26)
before use of liquid resources
and financing
Provisions for liabilities and
charges
Taxation - (3)
Increase / (decrease) in cash 268 (29)
Reconciliation of Operating Profit to Net Cash Flow From Operating Activities
Group Group
Year to Year to
14-Aug-04 14-Aug-03
#'000 #'000
Operating profit 10,097 8,953
(Increase) / decrease in 12,613 (8,301)
debtors
(Decrease) / increase in 1,248 (1,129)
creditors under one year
Impairment of fixed asset - -
investment property
Loss on sale of investment (170) -
properties
Impairment of Goodwill - -
Net cash inflow from operating 23,788 (477)
activities
Basis of Preparation
The interim accounts, which have not been audited, have been prepared using accounting policies
unchanged from those set out in the Group's 14 August 2003 statutory accounts. The investment
properties have not been revalued at 14 August 2004.
Dividends
Group Group
Year to Year to
14-Aug-04 14-Aug-03
#'000 #'000
Non-Equity Shares
10% Cumulative Preference Shares 106 104
5.75% Convertible Cumulative
106 104
Investment Properties
#'000
Balance at 15 August 2003 119,484
Additions 355
Disposals (4,069)
Balance at 14 August 2004 115,770
The properties have not been revalued at 14 August 2004.
Borrowings
Group Group
Year to Year to
14-Aug-04 14-Aug-03
#'000 #'000
Repayable as follows:
After more than five years 75,000 75,000
Cash (630) (898)
Net Borrowings 74,370 74,102
Company Information
Directors
W S Benjamin
K D McGrath
M Pashley
I Smith
Secretary
A M Jacobs
Registered Office
5 Wigmore Street
London
W1U 1PB
Registered Number
104394
This information is provided by RNS
The company news service from the London Stock Exchange
END
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