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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
All Points Nth. | LSE:APNO | London | Ordinary Share | GB00B1J3F018 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMAPNO RNS Number : 2662E All Points North Plc 17 December 2009 All Points North plc (the "Company") Unaudited Interim Results Chairman's Statement As expected the Company's interim results for the six month period ended 30 September 2009 show a gradually improving position. Turnover of GBP379,395 (2008: GBP179,519) produced an operating profit of GBP47,933. This was less than the comparative period for 2008 (GBP113,915) however, the annual rent roll increased by GBP 36,000 above the figure reported as at 31 March 2009 of GBP328,000 and since the period end has now topped GBP390,000 per annum. We still have space available for letting with the potential capacity to increase the rent roll by a further GBP150,000 per annum. Also since the year end the local occupancy requirements on The Kendal Bowman have been lifted and the affordability conditions relaxed which has increased its value considerably. We now intend to re-submit a planning application to include twelve flats which would produce a much more viable development. Our planning application for residential use on part of the Printfield site was approved (subject to the S106 agreement) and it is our intention to sell this part leaving us with a farmhouse, outbuildings and sixteen acres on which we hope to obtain planning for further residential units. The Charity which will be operating the Nursery at College House, Barrow in Furness has signed a five year lease at a commencing rent of GBP22,000 per annum. At a cost to us of some GBP60,000 the increase in the value of the property is in the order of GBP200,000. Feedback from existing tenants regarding this facility has been excellent. The sale of the upper floors at 47-51 Highgate, Kendal completed in November and we have decided to retain the ground floor which has William Hill as tenant and the next door property, 45 Highgate, Kendal. The Company cannot pay an interim dividend until it has sufficient distributable reserves to do so but we intend to recommence our dividend policy as soon as this proves to be the case. I am pleased to report that our efforts towards attracting new tenants are producing positive results and as the commercial property market improves so should our underlying values. B K Chadwick Chairman Enquiries: Keith Chadwick, All Points North plc Tel: 01768 865959 Alex Clarkson/Nick Cowles, Zeus Capital Limited Tel: 0161 831 1512 All Points North PLC Profit and loss Accounts +--------+--------+--------+--------+--------+-----------+--------+-----------+--------+-----------+ | | | | | | 6 | | 6 | | Year | | | | | | | months | | months | | ended | | | | | | | to | | to | | | +--------+--------+--------+--------+--------+-----------+--------+-----------+--------+-----------+ | | | | | | 30/09/09 | | 30/09/08 | | 31/03/09 | +--------+--------+--------+--------+--------+-----------+--------+-----------+--------+-----------+ | | | | | | GBP | | GBP | | | +--------+--------+--------+--------+--------+-----------+--------+-----------+--------+-----------+ | TURNOVER | | | | 379,395 | | 179,519 | | 871,394 | +-----------------+--------+--------+--------+-----------+--------+-----------+--------+-----------+ | Cost of sales | | | | (290,494) | | (61,176) | |(584,088) | +-----------------+--------+--------+--------+-----------+--------+-----------+--------+-----------+ | | | | | | | | | | | +--------+--------+--------+--------+--------+-----------+--------+-----------+--------+-----------+ | GROSS PROFIT | | | | 88,901 | | 118,343 | | 287,306 | +-----------------+--------+--------+--------+-----------+--------+-----------+--------+-----------+ | | | | | | | | | | | +--------+--------+--------+--------+--------+-----------+--------+-----------+--------+-----------+ | Administrative expenses | | | (41,418) | | (120,854) | | (232,943) | +--------------------------+--------+--------+-----------+--------+-----------+--------+-----------+ | Other operating income | | | 450 | | 116,426 | | 12,500 | +--------------------------+--------+--------+-----------+--------+-----------+--------+-----------+ | | | | | | | | | | | +--------+--------+--------+--------+--------+-----------+--------+-----------+--------+-----------+ | OPERATING PROFIT AND | | | 47,933 | | 113,915 | | 66,863 | +--------------------------+--------+--------+-----------+--------+-----------+--------+-----------+ | PROFIT ON ORDINARY ACTIVITIES | | | | | | | +-----------------------------------+--------+-----------+--------+-----------+--------+-----------+ | BEFORE INTEREST | | | | | | | | | +-----------------+--------+--------+--------+-----------+--------+-----------+--------+-----------+ | | | | | | | | | | | +--------+--------+--------+--------+--------+-----------+--------+-----------+--------+-----------+ | Interest | | | | - | | 455 | | 465 | | receivable | | | | | | | | | +-----------------+--------+--------+--------+-----------+--------+-----------+--------+-----------+ | Interest | | | | (74,654) | | (179,688) | | (288,151) | | payable | | | | | | | | | +-----------------+--------+--------+--------+-----------+--------+-----------+--------+-----------+ | | | | | | | | | | | +--------+--------+--------+--------+--------+-----------+--------+-----------+--------+-----------+ | LOSS ON ORDINARY ACTIVITIES | | (26,721) | | (65,318) | | (220,823) | +-----------------------------------+--------+-----------+--------+-----------+--------+-----------+ | BEFORE TAXATION | | | | | | | | | +-----------------+--------+--------+--------+-----------+--------+-----------+--------+-----------+ | | | | | | | | | | | +--------+--------+--------+--------+--------+-----------+--------+-----------+--------+-----------+ | Tax on Loss on ordinary | | | - | | 545 | | 544 | | activities | | | | | | | | +--------------------------+--------+--------+-----------+--------+-----------+--------+-----------+ | | | | | | | | | | | +--------+--------+--------+--------+--------+-----------+--------+-----------+--------+-----------+ | LOSS ON ORDINARY ACTIVITIES | | (26,721) | | (64,773) | | (220,279) | +-----------------------------------+--------+-----------+--------+-----------+--------+-----------+ | AFTER TAXATION | | | | | | | | | +--------+--------+--------+--------+--------+-----------+--------+-----------+--------+-----------+ All Points North PLC Balance sheets +---------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | 6 months | | 6 months | | Year | | | | | | to | | to | | ended | +---------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | 30/09/09 | | 30/09/08 | | 31/03/09 | +---------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | GBP | | GBP | | GBP | +---------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | | | | | +---------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | FIXED ASSETS | | | | | | | | +------------------+--------+--------+-------------+--------+-------------+--------+-------------+ | Tangible assets | | | 5,680,993 | | 5,925,308 | | 5,625,895 | +------------------+--------+--------+-------------+--------+-------------+--------+-------------+ | Investments | | | 50 | | 50 | | 50 | +------------------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | | | | | +---------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | 5,681,043 | | 5,925,358 | | 5,625,945 | +---------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | | | | | +---------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | CURRENT ASSETS | | | | | | | | +------------------+--------+--------+-------------+--------+-------------+--------+-------------+ | Stocks | | | | 1,198,761 | | 1,537,966 | | 1,356,383 | +---------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | Investments | | | - | | 225,000 | | - | +------------------+--------+--------+-------------+--------+-------------+--------+-------------+ | Debtors | | | | 158,916 | | 178,697 | | 141,136 | +---------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | Bank and cash balances | | - | | - | | 1,852 | +---------------------------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | | | | | +---------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | 1,357,677 | | 1,941,663 | | 1,499,371 | +---------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | | | | | +---------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | CREDITORS | | | | | | | | +------------------+--------+--------+-------------+--------+-------------+--------+-------------+ | amounts falling due within one | (5,801,661) | | (6,137,623) | | (5,859,482) | | year | | | | | | +------------------------------------+-------------+--------+-------------+--------+-------------+ | | | | | | | | | | +---------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | NET CURRENT LIABILITIES | | (4,443,984) | | (4,195,960) | | (4,360,111) | +---------------------------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | | | | | +---------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | LIABILITIES DUE AFTER ONE YEAR | (6,618) | | - | | - | +------------------------------------+-------------+--------+-------------+--------+-------------+ | | | | | | | | | | +---------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | NET ASSETS | | | 1,230,441 | | 1,729,398 | | 1,265,834 | +------------------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | | | | | +---------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | CAPITAL AND RESERVES | | | | | | | +---------------------------+--------+-------------+--------+-------------+--------+-------------+ | Called up share | | | 73,958 | | 73,958 | | 73,958 | | capital | | | | | | | | +------------------+--------+--------+-------------+--------+-------------+--------+-------------+ | Share premium account | | 312,723 | | 312,723 | | 312,723 | +---------------------------+--------+-------------+--------+-------------+--------+-------------+ | Revaluation | | | 831,239 | | 1,123,307 | | 839,911 | | reserve | | | | | | | | +------------------+--------+--------+-------------+--------+-------------+--------+-------------+ | Profit and loss | | | 12,521 | | 219,510 | | 39,242 | | account | | | | | | | | +------------------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | | | | | +---------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | SHAREHOLDERS' FUNDS | | 1,230,441 | | 1,729,498 | | 1,265,834 | +---------------------------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | | | | | +---------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ All Points North PLC Cash Flow Statements +----------+--------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | 6 months | | 6 months | | Year | | | | | | | to | | to | | ended | +----------+--------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | 30/09/09 | | 30/09/08 | | 31/03/09 | +----------+--------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | GBP | | GBP | | | +----------+--------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | Reconciliation of operating profit to net | | | | | | | cash flow | | | | | | +----------------------------------------------+-------------+--------+-------------+--------+-------------+ | from operating | | | | | | | | | activities | | | | | | | | +----------------------------+--------+--------+-------------+--------+-------------+--------+-------------+ | Operating | | | | 47,933 | | 113,915 | | 66,863 | | profit | | | | | | | | | +-------------------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | Depreciation of tangible fixed | | 555 | | 511 | | 1,465 | | assets | | | | | | | +-------------------------------------+--------+-------------+--------+-------------+--------+-------------+ | Impairments of fixed | | | - | | 7,471 | | - | | assets | | | | | | | | +----------------------------+--------+--------+-------------+--------+-------------+--------+-------------+ | Profit on disposal of tangible | | - | | - | | - | | fixed assets | | | | | | | +-------------------------------------+--------+-------------+--------+-------------+--------+-------------+ | Decrease/(Increase) in | | | 157,622 | | (417,337) | | (235,754) | | stocks | | | | | | | | +----------------------------+--------+--------+-------------+--------+-------------+--------+-------------+ | Increase in current | | | - | | (225,000) | | - | | investments | | | | | | | | +----------------------------+--------+--------+-------------+--------+-------------+--------+-------------+ | (Increase)/Decrease in | | | (17,780) | | 195,681 | | 226,026 | | debtors | | | | | | | | +----------------------------+--------+--------+-------------+--------+-------------+--------+-------------+ | Increase in | | | | 49,660 | | 132,815 | | 14,013 | | creditors | | | | | | | | | +-------------------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | | | | | | +----------+--------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | Net cashflow from operating | | 237,990 | | (191,944) | | 72,613 | | activities | | | | | | | +-------------------------------------+--------+-------------+--------+-------------+--------+-------------+ | Cashflow | | | | | | | | | | statement: | | | | | | | | | +-------------------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | Net cashflow from operating | | 237,990 | | (191,944) | | 72,613 | | activities | | | | | | | +-------------------------------------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | | | | | | +----------+--------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | Returns on investments and servicing of | | | | | | | finance | | | | | | +----------------------------------------------+-------------+--------+-------------+--------+-------------+ | Interest | | | | - | | 455 | | 465 | | received | | | | | | | | | +-------------------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | Interest paid | | | | (74,654) | | (179,688) | | (288,151) | +-------------------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | | | | | | +----------+--------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | (74,654) | | (179,233) | | (287,686) | +----------+--------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | | | | | | +----------+--------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | Taxation | | | | | - | | 545 | | 544 | +----------+--------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | Capital expenditure and financial | | | | | | | | investment | | | | | | | +-------------------------------------+--------+-------------+--------+-------------+--------+-------------+ | Purchase of tangible | | | (25,651) | | (33,994) | | (1,707) | | fixed assets | | | | | | | | +----------------------------+--------+--------+-------------+--------+-------------+--------+-------------+ | Purchase of investment | | | (38,673) | | - | | (9,654) | | properties | | | | | | | | +----------------------------+--------+--------+-------------+--------+-------------+--------+-------------+ | Repayment of loan by joint | | - | | 28,100 | | 35,316 | | venture | | | | | | | +-------------------------------------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | (64,324) | | (5,894) | | 23,955 | +----------+--------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | | | | | +-------------------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | Dividends paid | | | | - | | - | | (24,762) | +-------------------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | | | | | | +----------+--------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | Increase/(Decrease) in cash in | | 99,012 | | (376,526) | | (215,336) | | the period | | | | | | | +-------------------------------------+--------+-------------+--------+-------------+--------+-------------+ | Net debt at the start of | | | (5,365,320) | | (5,149,984) | | (5,149,984) | | the period | | | | | | | | +----------------------------+--------+--------+-------------+--------+-------------+--------+-------------+ | Net debt at the end of | | | (5,266,308) | | (5,526,510) | | (5,365,320) | | the period | | | | | | | | +----------------------------+--------+--------+-------------+--------+-------------+--------+-------------+ | Net debt | | | | | | | | | | comprises: | | | | | | | | | +-------------------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | Cash at bank | | | | - | | - | | 1,852 | +-------------------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | Bank overdraft falling due within | | (5,266,308) | | (5,526,510) | | (5,367,172) | | one year | | | | | | | +-------------------------------------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | | | | | | +----------+--------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | (5,266,308) | | (5,526,510) | | (5,365,320) | +----------+--------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ | | | | | | | | | | | +----------+--------+--------+--------+--------+-------------+--------+-------------+--------+-------------+ All Points North PLC Notes to the interim financial statements 1. Preparation of the financial statements The interim results have been prepared in accordance with the accounting policies set out in the Company's annual report and accounts to 31st March 2009 and are unaudited. The interim financial statements were approved by a duly appointed and authorised committee of the Board of Directors on 11th December 2009. 2. (Loss)/profit per ordinary share +--------+--------+--------+--------+------------+--------+------------+--------+------------+ | | | | | 6 | | 6 | | Year | | | | | | months | | months | | ended | | | | | | to | | to | | | +--------+--------+--------+--------+------------+--------+------------+--------+------------+ | | | | | 30/09/09 | | 30/09/08 | | 31/03/09 | +--------+--------+--------+--------+------------+--------+------------+--------+------------+ | | | | | | | | | | +--------+--------+--------+--------+------------+--------+------------+--------+------------+ | Loss on ordinary | | (26,721) | | (64,773) | | (220,279) | | activities after tax | | | | | | | +--------------------------+--------+------------+--------+------------+--------+------------+ | | | | | | | | | | +--------+--------+--------+--------+------------+--------+------------+--------+------------+ | Average number of shares | |7,395,813 | |7,395,813 | |7,395,813 | | in issue | | | | | | | +--------------------------+--------+------------+--------+------------+--------+------------+ | | | | | | | | | | +--------+--------+--------+--------+------------+--------+------------+--------+------------+ | Loss per ordinary share | | (0.36)p | | (0.88)p | | (2.98)p | | in pence | | | | | | | +--------+--------+--------+--------+------------+--------+------------+--------+------------+ 3. Movement in capital and reserves +--------+--------+--------+--------+--------+--------+-------------+--------+----------+ | | | | | | |Revaluation | | Profit | | | | | | | | | | and | +--------+--------+--------+--------+--------+--------+-------------+--------+----------+ | | | | | | | reserve | | loss | | | | | | | | | | account | +--------+--------+--------+--------+--------+--------+-------------+--------+----------+ | | | | | | | GBP | | GBP | +--------+--------+--------+--------+--------+--------+-------------+--------+----------+ | At 1 April 2009 | | | | | 839,911 | | 39,242 | +-----------------+--------+--------+--------+--------+-------------+--------+----------+ | Loss for the | | | | | - | | (26,721) | | period | | | | | | | | +-----------------+--------+--------+--------+--------+-------------+--------+----------+ | Deficit on revaluation of | | | (8,672) | | - | | freehold property | | | | | | +-----------------------------------+--------+--------+-------------+--------+----------+ | | | | | | | | | | +--------+--------+--------+--------+--------+--------+-------------+--------+----------+ | At 30 September | | | | | 831,239 | | 12,521 | | 2009 | | | | | | | | +-----------------+--------+--------+--------+--------+-------------+--------+----------+ | | | | | | | | | | +--------+--------+--------+--------+--------+--------+-------------+--------+----------+ 4. Copies of the interim report Copies of the interim report are available to the public from the Company's head office: Cumbria House, Gilwilly Road, Penrith, Cumbria CA11 9FF and on the Company's website: www.allpointsnorthplc.com. This information is provided by RNS The company news service from the London Stock Exchange END IR GUGBAPUPBGRQ
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