We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register to chat with like-minded investors on our interactive forums.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Advance Capital | LSE:ACN | London | Ordinary Share | GB0002632569 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
Hot Features
Premium
RNS Number:0158H
Advance Capital Invest PLC
05 February 2003
Embargoed until: 07:00 Wednesday 5 February 2003
Advance Capital Invest plc
Preliminary Results for Year ended 31st October 2002
Chairman's statement
Results
Advance Capital Invest, the investment vehicle, was incorporated on 20 October
2000. In conjunction with its admission to AIM on 1 December 2001, the Company
raised a total of approximately #2 million cash. During the period under review,
ACI has not undertaken any trading activities, but incurred certain staff and
operational costs associated with reviewing a number of acquisitions.
Since 1st August the Board has agreed to halve their remuneration to preserve
the company's primary asset, its cash resource. The Board does not expect this
to materially diminish whilst the company reviews potential acquisitions.
Outlook
The Board continues to actively review potential acquisitions. ACI remains an
attractive investment vehicle and if necessary, one capable of providing
additional managerial and capital input into a suitable opportunity, once
identified. The Company continues to have a strong balance sheet with net
assets per share of approximately 16.75p, consisting predominantly of cash at
bank and in hand.
Nigel Whittaker
Chairman
5 February 2003
For further information, please contact:
Nigel Whittaker, Chairman Tel: 020 7796 4133
Charles Fairbairn, Finance Director
Advance Capital Invest
Alistair Mackinnon-Musson / Philip Dennis Tel: 020 7796 4133
Hudson Sandler Email: aci@hspr.co.uk
Advance Capital Invest plc
Profit and Loss Account
Year Ended Period Ended
Notes 31 October 31 October 2001
2002 (audited)
(unaudited)
#'000 #'000
Administrative expenses
Costs re terminated transaction - (460)
Other administrative expenses (117) (110)
Operating Loss (117) (570)
Interest receivable from bank deposits 49 83
Loss on ordinary activities before taxation (68) (487)
Tax on loss on ordinary activities - -
Loss for the financial period (68) (487)
Basic loss per share 2 (0.84)p (6.01)p
Diluted loss per share 2 (0.84)p (6.01)p
The profit and loss account has been prepared on the basis that all operations
are continuing operations.
Recognised gains and losses
There are no recognised gains and losses other than those dealt with through the
profit and loss account.
Advance Capital Invest plc
Balance Sheet
As at As at
31 October 31 October
2002 2001
(unaudited) (audited)
#'000 #'000
Current assets
Prepayments - 4
Cash at bank and in hand 1,367 1,695
1,367 1,699
Creditors: Amounts falling due within one year (10) (274)
Net assets 1,357 1,425
Capital and reserves
Called up share capital 810 810
Share premium account 1,102 1,102
Profit and loss account (555) (487)
Equity shareholders' funds 1,357 1,425
Cash Flow statement
Notes Year Ended Period Ended
31 October 2002 31 October
2001
(unaudited) (audited)
#'000 #'000
Net cash outflow from operating activities B (377) (300)
Returns on investment and servicing of finance
Interest received 49 83
Net cash outflow before financing (328) (217)
Financing:
Placing C - 1,912
Increase in cash in period (328) 1,695
Advance Capital Invest plc
Notes to Cashflow Statement
A. Reconciliation of net cash flow to movement in net funds
Year Ended Period Ended
31 October 31 October
2002 2001
(unaudited) (audited)
#'000 #'000
(Decrease) / increase in cash in the period (328) 1,695
Net funds at beginning of period 1,695 -
Net funds at end of period 1,367 1,695
There were no other sources of funding other than cash so all funds flows are
shown in the cashflow statement
B. Reconciliation of operating loss to net cash outflows from operating
activities
Year Ended Period Ended
31 October 31 October
2002 2001
(unaudited) (audited)
#'000 #'000
Operating loss (117) (570)
(Increase)/decrease in debtors 4 (4)
(Decrease)/increase in creditors (264) 274
Net cash outflow from operating activities (377) (300)
C. Placing
Year Ended Period Ended
31 October 31 October
2002 2001
(unaudited) (audited)
#'000 #'000
Placing proceeds - 2,025
Costs of placing - (113)
Total - 1,912
Advance Capital Invest plc
Notes to the financial statements
1. Basis of preparation
The profit and loss account, balance sheet and cashflow statement which are
unaudited have been prepared in accordance with the accounting policies set out
in the 2001 Annual Report. The financial information contained in the financial
statements does not constitute statutory accounts within the meaning of section
240 of the Act.
The results for 2001 full year are an abridged review of the full accounts which
have received an unqualified audit report and have been filed with the Registrar
of Companies.
2. Loss per share
The basic loss per share calculation has been based on the loss attributable to
ordinary shareholders of #68,000 divided by 8,100,000 shares, being the entire
issued share capital of the company.
There is no difference between the basic and fully diluted earnings per Ordinary
Share, as no Ordinary Shares are issuable under the Share Options until the
completion by the Company of a business acquisition, and this condition had not
been met at the end of the reporting period.
3. Dividends
The Board has not declared a dividend in respect of this period.
- Ends -
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR UUUBWPUPWGGC
1 Year Advance Capital Chart |
1 Month Advance Capital Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
