Unwinding of discount                        48           -        48 
                                         --------  ----------  -------- 
  At 29 January 2012                        8,024         124     8,148 
                                         --------  ----------  -------- 
 
  Amounts due within one year                                     6,680 
  Amounts due after more than one 
   year                                                           1,468 
                                                               -------- 
                                                                  8,148 
                                                               -------- 
 

The provision for onerous leases relates to empty properties or properties sub-let at less than their passing rent over the life of the lease. For the period ended 29 January 2012 the discount rate used in calculating the provision was 0.5% (30 January 2011: 0.5%).

 
 13    Assets and liabilities of discontinued operations 
                                                                  As at        As at 
                                                             29 January   30 January 
                                                                   2012         2011 
                                                                GBP'000      GBP'000 
       Assets of discontinued operations 
  Cash and cash equivalents                                           -          180 
                                                      -----------------  ----------- 
 
       Liabilities of discontinued operations 
  Trade and other payables                                            -        (295) 
  Deferred tax liability                                              -        (116) 
                                                      -----------------  ----------- 
                                                                      -        (411) 
  ---------------------------------------------------------------------  ----------- 
 
 
 14    Reconciliation of net debt 
                                                   Cash   Borrowings   Net debt 
                                                GBP'000      GBP'000    GBP'000 
  Balance at 1 August 2010                        7,225     (41,566)   (34,341) 
  Cash flow movement                              2,331       28,500     30,831 
  Cash held by discontinued operations            (180)            -      (180) 
  Amortisation of finance costs                       -        (493)      (493) 
                                              ---------  -----------  --------- 
  Balance at 30 January 2011                      9,376     (13,559)    (4,183) 
  Cash flow movement                             10,117     (39,500)   (29,383) 
  Cash held by discontinued operations              180           23        203 
  Amortisation of finance costs                       -        (491)      (491) 
                                              ---------  -----------  --------- 
  Balance Sheet at 31 July 2011                  19,673     (53,527)   (33,854) 
  Cash flow movement                           (11,091)       51,000     39,910 
  Additional finance costs                            -        3,295      3,295 
  Amortisation of finance costs                       -        (919)      (919) 
                                              ---------  -----------  --------- 
  Balance Sheet at 29 January 2012                8,582        (151)      8,432 
  Financing costs capitalised                         -      (2,849)    (2,849) 
                                              ---------  -----------  --------- 
  Net cash before financing costs                 8,582      (3,000)      5,583 
                                              ---------  -----------  --------- 
 
   15     Risks and uncertainties 

The Board and senior management are responsible for identifying and managing potential risks and uncertainties which could have an impact on the performance of the Group. These are set out in the Annual Report and Financial Statements 2011 and the Board considers that these remain the principal risks which could affect the Group in respect of the current financial year.

   16     Forward looking statements 

To the extent that any statement in this interim report can be considered forward looking, the Board can give no assurance that these statements will prove to be correct. Because any such statement involves risk and uncertainty, actual results may differ materially from any expressed or implied by these forward looking statements.

The Board undertakes no obligation to update any forward looking statement whether as a result of new information, future events or otherwise.

   17     Statement of directors' responsibilities 

The directors confirm, to the best of their knowledge and belief, that this condensed set of financial statements has been prepared in accordance with IAS 34 as adopted by the European Union and that the interim report herein includes a fair review of the information required by DTR 4.2.7 and DTR 4.2.8.

The directors of Clinton Cards PLC are listed in the Clinton Cards PLC Annual Report and Financial Statements 2011 and on the company website at www.clintoncards.co.uk.

By order of the Board

__________________________________ __________________________________

D J Lewin, OBE Darcy Willson-Rymer

Chairman Chief Executive Officer

This information is provided by RNS

The company news service from the London Stock Exchange

END

IR BKFDQKBKBNNB

Clinton Cards (LSE:CC.)
Gráfico Histórico do Ativo
De Nov 2024 até Dez 2024 Click aqui para mais gráficos Clinton Cards.
Clinton Cards (LSE:CC.)
Gráfico Histórico do Ativo
De Dez 2023 até Dez 2024 Click aqui para mais gráficos Clinton Cards.