Interim Results
07 Setembro 2005 - 10:34AM
UK Regulatory
RNS Number:9601Q
Trading Exchange (The) PLC
07 September 2005
07 September 2005
Trading Exchange plc
Interim Results for the Period
Trading Exchange plc ("Trading Exchange"), a cash shell, following its disposal
of its trading subsidiary The Trading Exchange (UK) Ltd (" The Subsidiary") on
17 May 2005 and treated as an investment company under the Alternative
Investment Market ("AIM") rules, today announces its interim results for the six
months ended 30 June 2005.
PROFIT AND LOSS ACCOUNT for the six month ended 30 June 2005
Six months ended Six months Year ended
30 June 2005 ended 31 December 2004
30 June 2004
(Un-audited) (Un-audited) (Audited)
# # #
Turnover 0 0 0
Cost of sales 0 0 0
_____________ _____________ _____________
Gross profit 0 0 0
Administrative expenses (298,019) (25,767) (52,525)
Exceptional administrative
expenses - write off (4,833,510) 0 0
intercompany loan
_____________ _____________ _____________
Operating loss (5,131,529) (25,767) (52,525)
Profit on sale of subsidiary 118,485 0 0
_____________ _____________ _____________
Loss on ordinary activities (5,013,044) (25,767) (52,525)
before interest and taxation
Interest receivable 45,589 10,571 50,893
Interest payable
_____________ _____________ _____________
Loss on ordinary activities (4,967,455) (15,196) (1,632)
before taxation
Tax on loss on ordinary 0 0 0
activities
_____________ _____________ _____________
Retained loss for the (4,967,455) (15,196) (1,632)
financial period
============= ============= =============
Loss per ordinary share
Basic loss per share (pence) (14.3) (0.0) (0.0)
BALANCE SHEET as at 30 JUNE 2005
Un-audited Un-audited Audited
as at as at as at
30 June 2005 30 June 2004 31 December 2004
# # #
Fixed assets
Tangible assets 0 0 0
Investments 0 1 1
_____________ _____________ _____________
0 1 1
Current assets
Debtors 423,042 3,322,925 4,412,203
Cash at bank 1,649,690 256,242 2,570,955
_____________ _____________ _____________
2,072,732 3,579,167 6,983,158
Creditors: amounts falling
due within one year (118,645) (44,096) (61,617)
_____________ _____________ _____________
Net current assets 1,954,087 3,535,071 6,921,541
_____________ _____________ _____________
Net assets 1,954,087 3,535,072 6,921,542
============= ============= =============
Capital and reserves
Called up share capital 3,482,759 1,149,426 3,482,759
Share premium account 4,191,587 3,152,015 4,191,587
Profit and loss account (5,720,259) (766,369) (752,804)
_____________ _____________ _____________
Shareholders' funds 1,954,087 3,535,072 6,921,542
============= ============= =============
Cash Flows for the six months
ended 30 June 2005
Un-audited Un-audited Audited
as at as at as at
30 June 2005 30 June 2004 31 December 2004
# # #
Net cash outflow from operating
activities (966,855) (930,727) (2,029,241)
Returns on investment and
servicing of finance
Interest received 45,589 10,571 50,893
Interest paid
_____________ _____________ _____________
Net cash inflow from returns 45,589 10,571 50,893
on investment and servicing
of finance
Capital expenditure 0 0 0
Acquisitions and disposals
Acquisition of subsidiary 0 0 0
Disposal of subsidiary 1 0 0
_____________ _____________ _____________
Net cash inflow from 1 0 0
acquisitions and disposals
_____________ _____________ _____________
Net cash outflow before financing (921,265) (920,152) (1,978,348)
Financing
Issue of ordinary share capital 0 215,000 3,715,000
Cost of share issue 0 0 (127,095)
_____________ _____________ _____________
Net cash inflow from financing 0 215,000 3,587,905
_____________ _____________ _____________
Increase in cash in the year (921,265) (705,154) 1,609,557
============= ============= =============
NOTES TO THE UNAUDITED INTERIM RESULTS
1 Basis of preparation of interim financial results
The interim results for the six months ended 30 June 2005 and six months ended
30 June 2004 are un-audited and do not constitute statutory accounts within the
meaning of section 240 of the Companies Act 1985.They have been drawn up using
accounting policies and principles consistent with those applied in the
preparation of the audited accounts for the year ended 31 December 2004.
Further to the disposal of The Subsidiary, the results for the six months and
comparatives shown ,are for the Trading Exchange and do not include the results
of The Subsidiary and are also not consolidated.
The comparative information contained in these results for the year ended 31
December 2004 does not constitute the statutory accounts for that financial
period. Those accounts have been reported on by the Company's Auditors, Nexia
Audit Limited, and delivered to the Registrar of Companies.
The report of the auditors was unqualified.
2 Earnings per ordinary share
Basic earnings per share figures have been calculated based upon 34,827,594
shares in issue, being the weighted average number of ordinary shares in issue
during the period.
3 Interim Results
This interim results were approved by the Directors on 7 September 2005
This information is provided by RNS
The company news service from the London Stock Exchange
END
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