Alltrue Investments PLC
21 September 2005
ALLTRUE INVESTMENTS PLC
CHAIRMAN'S STATEMENT
To accompany the accounts for the 6 months to 30 June 2005
OVERVIEW
No acquisition has been made during the period although acquisitions are being
actively sought.
At the date of the balance sheet the company had net current assets of £700,000,
all effectively in cash.
FINANCIAL OVERVIEW
The company has not yet made an acquisition and the expenses incurred during the
period relate to listing maintenance and administration.
For the period a loss of £23,000 has been incurred, which on a weighted average
equates to a loss of 0.02 pence per share. No dividend is being declared. The
directors will receive no remuneration until an acquisition has been completed.
CASH FLOW AND FUNDING
As stated above, the company effectively has £700,000 cash at 30 June 2005 for
acquisitions and routine expenses and this amount has not changed materially to
the date of this report.
OUTLOOK
The Board is actively pursuing potential acquisitions and hope to report
favourable developments in the near future.
L.E.V. KNIFTON
Chairman
7 September 2005
ALLTRUE INVESTMENTS PLC
Profit and Loss Account
For the six months to 30th June 2005
6 Months 9 October 2003 9 October 2003
to to to
30 June 2005 31 December 2004 30 June 2004
Unaudited Audited Unaudited
Note £'000 £'000 £'000
Turnover - 1 -
Administration expenses (34) (114) (19)
Operating Loss (34) (113) (19)
Interest received 11 17 1
Loss on ordinary activities before
taxation
(23) (96) (18)
Taxation - - -
Loss on ordinary activities after
taxation
(23) (96) (18)
Dividends - - -
Deficit for the period £(23) £(96) £(18)
Earnings per shares: basic and
diluted
(0.02p) (0.18p) (0.07p)
The company's turnover and operating loss arise from continuing operations.
There were no recognised gains or losses other than those recognised in the
profit and loss account above.
ALLTRUE INVESTMENTS PLC
Balance Sheet as at 30 June 2005
30 June 31 December 30 June
2005 2004 2004
Unaudited Audited Unaudited
£'000 £'000 £'000
CURRENT ASSETS
Debtors 6 4 13
Cash at bank and in hand 708 743 812
714 747 825
CREDITORS: amounts falling due within one year (14) (24) (24)
Net assets £700 £723 £801
CAPITAL AND RESERVES
Called up share capital 94 94 94
Share premium account 725 725 725
Profit and loss account (119) (96) (18)
Equity shareholders' funds £700 £723 £801
ALLTRUE INVESTMENTS PLC
Cash Flow Statement
For the six months to 30 June 2005
6 Months 9 October 2003 9 October 2003
to to to
30 June 2005 31 December 2004 30 June 2004
Unaudited Audited Unaudited
£'000 £'000 £'000
Cash outflow from operating activities (46) (93) (8)
Return on investment and servicing of
Finance 11 17 1
Financing - Issue of shares net of expenses
- 819 819
Cash (decrease)/increase in the period (35) 743 812
Reconciliation of movements in shareholders' funds
£'000 £'000 £'000
Deficit for the period (23) (96) (18)
New share capital subscribed, net of expenses - 819 819
(23) 723 801
Opening shareholders' funds 723 - -
Closing shareholders' funds 700 723 801
ALLTRUE INVESTMENTS PLC
Notes to the Interim Report
1. Accounting Policies
The interim report has been prepared using accounting policies consistent with
those set out in the Company's Annual Report and Accounts for the year ended 31
December 2004.
They have been prepared on a going concern basis.
This interim report for the period from 1 January 2005 to 30th June 2005 was
approved by the Board on 7 September 2005.
2. Loss per Share
6 Months 9 October 2003 9 October 2003
to to to
30 June 2005 31 December 2004 30 June 2004
Pence Pence Pence
Earnings per ordinary shares -
Basic and diluted (0.02) (0.18) (0.07)
The loss per ordinary share is based on the company's loss for the
period of £23,000 (31 December 2004 - £96,000; 30 June 2004 - £18,000) and a
weighted average number of shares in issue of 94,167,000 (31 December 2004 -
54,404,030; 30 June 2004 - 26,899,825).
3. Reconciliation of operating loss to net cash outflow from
operating activities.
6 Months 9 October 2003 9 October 2003
to to to
30 June 2005 31 December 2004 30 June 2004
Unaudited Audited Unaudited
£'000 £'000 £'000
Operating loss (34) (113) (19)
(Increase) in debtors (2) (4) (13)
Increase/(decrease) in creditors (10) 24 24
Net cash outflow from operating
activities £(46) £(93) £(8)
4. The information for the year ended 31 December 2004 has been
extracted from the audited accounts for that period which have been delivered to
the Registrar of Companies and received an unqualified audit opinion. The
unaudited results for the six months have been prepared on a basis consistent
with the accounting policies disclosed in the Company's 2004 accounts and do not
constitute statutory accounts within the meaning of Section 240 of the Companies
Act 1985.
5. Copies of this interim statement are available from the Company at
its registered office at Finsgate, 5-7 Cranwood Street, London, EC1V 9EE.
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