Fiske PLC Positive Restatement of Accounts (2359D)
17 Febrero 2020 - 6:16AM
UK Regulatory
TIDMFKE
RNS Number : 2359D
Fiske PLC
17 February 2020
17 February 2020
Fiske Plc
('Fiske' or 'the Company')
Positive Restatement of Accounts
The Company reports that, following its own internal audit
process, it has identified an understatement of net assets for the
financial year ended 31 May 2019. The understatement amounts to
approximately GBP530,000, which represents circa 7% of reported net
assets of the Company as at 31 May 2019. This amount has
accumulated over a period from April 2016 due primarily to an over
accrual of creditors and provisions.
The Company confirms that there is no impact on the Company's
cash position nor is there any impact on the Client Money or Asset
positions of its clients.
It is intended that the comparative figures for revenues and
cost of sales for the six months ended 30 November 2018 and for the
year ended 31 May 2019 will be restated in the forthcoming half
yearly report for the six months ended 30 November 2019 to account
for this understatement. As a consequence, it is expected that the
loss before tax for the year to 31 May 2019 will be reduced by
approximately GBP260,000.
The misstatement arose through a change in an accounting process
which affected the way in which data from the Company's systems was
interpreted for accounting purposes. Additional checks have been
added to the internal review and audit processes which are designed
to prevent such a recurrence.
The Company will announce its half yearly report for the 6
months to 30 November 2019 by no later than 28 February 2020. These
results are in line with management expectations.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
For further information please contact:
-- Samantha Harrison/Harrison Clarke/Niall McDonald, Grant
Thornton UK LLP (Nominated Adviser)
(tel: 020 7383 5100)
-- Gerard Luchini, Fiske Plc - Company Secretary
(tel: 020 7448 4700)
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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February 17, 2020 07:16 ET (12:16 GMT)
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