Interim Results
14 Agosto 2003 - 10:17AM
UK Regulatory
RNS Number:6785O
Darwen Capital PLC
14 August 2003
FOR IMMEDIATE RELEASE 14 AUGUST 2003
Darwen Capital Plc
("Darwen Capital " or the "Company")
Interim Announcement
Company in detailed negotiations regarding a potential transaction
The Company announces its maiden interim results for the period from
incorporation on 1 October 2002 until 30 June 2003. There was no turnover and a
loss before (and after) tax of #25,000. The loss per share was 0.36p. No
dividend is recommended.
Since Admission in November 2002, the company has evaluated a number of
potential investments. At the current time the company is in detailed
negotiations with regard to a potential transaction and expects to make an
announcement in the near future.
These results reflect the professional and other expenses incurred to date and
have little relevance to the board's future hopes or plans for the company.
For further information:
Darwen Capital plc
David Massie, Executive Chairman 020 7647 1700
Beattie Financial
Brian Coleman Smith / James Chandler 020 7398 3300
DARWEN CAPITAL PLC
Profit and Loss Account for the period from incorporation to 30 June 2003
Period ended
30 June 2003
(unaudited) #000
Notes
Turnover -
Administrative expenses (26)
_____
Operating loss (26)
Interest receivable 1
_____
Loss on ordinary activities before taxation 1 (25)
Taxation 2 -
_____
Loss on ordinary activities after taxation (25)
Dividends 3 -
_____
Retained loss (25)
_____
Basic and diluted loss per ordinary share (pence) 4 (0.36)
_____
Dividends per share (pence) 3 0
_____
DARWEN CAPITAL PLC
Balance Sheet as at 30 June 2003
30 June 2003
(unaudited) #000
Notes
Current assets
Debtors 13
Bank 103
____
116
____
Creditors (8)
Amounts falling due within one year ____
Net assets 108
____
Capital and reserves 70
Called up share capital 5 63
Share premium 6 (25)
Profit and loss account ____
Equity shareholders funds 108
____
Net assets per share (pence) 7 1.54
____
DARWEN CAPITAL PLC
Cash flow statement
Period ended
30 June 2003
(unaudited) #000
Notes
Net cash outflow from operating activities 8 (31)
Returns on investment and servicing of finance 1
Interest received
Financing 200
Proceeds of issue of ordinary shares (67)
Expenses of share issue ____
Increase in cash 103
____
Notes to Interim Report
1. Loss on ordinary activities before taxation
The loss for the period is representative of operational overheads incurred in the period. There was no turnover
and therefore no segmental information is pertinent.
2. Taxation
No corporation tax liability arises.
3. Interim Dividend
No interim dividend is proposed for the year ended 31 December 2003.
4. Loss per share
The calculation of loss per share is based on the loss for the period after tax of #25,000 and on the number of
ordinary shares in issue during the period to 30 June 2003 of 7,000,000.
5. Called up share capital
The issued capital comprises 5,000,000 ordinary shares of 1p each issued on 7 October 2002 and 2,000,000
ordinary shares of 1p each issued on 18 November 2002.
6. Share premium
The share premium represents:
#000
Premium arising on issues of ordinary shares in the period. 130
Expenses of share issues 67
____
At 30 June 2003 63
____
7. Net assets per share
The calculation of net assets per share is based on the net assets at the end of the period of #108.000 and on
the number of ordinary shares in issue at 30 June 2003 of 7,000,000.
8. Reconciliation of operating loss to net cash outflow from operating activities
Period ended
30 June 2003
(unaudited)
#000
Operating loss (26)
Increase in debtors (13)
Increase in creditors 8
____
Net cash (outflow) from operating activities (31)
____
9. Preparation of Interim Report
The interim financial information for the period from incorporation to 30 June 2003 was approved by the
directors on 14 August 2003.
10. Financial information
The financial information in this statement does not constitute statutory accounts within the meaning of section
240 of the Companies Act 1985.
11. Distribution
This interim report is being sent to all shareholders. Copies are available from The Company Secretary, Darwen
Capital plc, Century House, 37 Jewry Street, London, EC2N 2ER.
This information is provided by RNS
The company news service from the London Stock Exchange
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