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BMR Bmr Group

1.90
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bmr Group LSE:BMR London Ordinary Share GB00BWV0F181 ORD GBP0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.90 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Berkeley Mineral Resources PLC 2014 Final Results -13-

14/04/2015 6:29pm

UK Regulatory


Additions                                          -                       -                       -                 408,824                 408,824 
Foreign exchange difference                (746,604)                (94,196)               (340,703)                (73,232)             (1,254,735) 
 
At 30 June 2014                            3,007,123                 570,163               1,696,484               8,937,532              14,211,302 
 
Accumulated depreciation 
At 30 June 2012 (restated)                         -               (110,490)                (37,275)                       -               (147,765) 
Charge for the year                                -                (60,619)               (216,933)                       -               (277,552) 
 
At 30 June 2013 (restated)                         -               (171,109)               (254,208)                       -               (425,317) 
 
Charge for the year                        (125,787)                (53,348)               (190,910)                       -               (370,045) 
Impairment                               (1,811,112)                       -             (1,251,366)               (524,000)             (3,586,478) 
Foreign exchange difference                        -                       -                       -                       -                       - 
 
At 30 June 2014                          (1,936,899)               (224,457)             (1,696,484)               (524,000)             (4,381,840) 
 
 
Carrying amount 
At 30 June 2014                            1,070,224                 345,706                       -               8,413,532               9,829,462 
 
At 30 June 2013 (restated)                 3,753,727                 493,250               1,782,979               8,601,940              14,631,896 
 
At 30 June 2012 (restated)                   656,479                 525,310               2,014,006               8,296,469              11,492,264 
 
 
 
 

Exploration and evaluation assets were re-classified as land use rights, small scale licence, large scale licence. Deprecation was applied by reference to the period of the licences granted. As a result of the depreciation and reassignment of assets to Land and buildings a prior period adjustment was necessary and this is outlined in note 9.

Incorporated in the Exploration and Evaluation assets is a fair value adjustment of GBP6,885,175 as a result of the acquisition of Enviro Mining Limited on 20 June 2011 and its two subsidiary companies, Enviro Processing Limited and Enviro Props Limited (together "Enviro Group). An impairment of GBP250,000 has been made in relation to the NLL facilitation fee paid as part of the cash consideration at the time. The Enviro Group owns the leasehold rights and title to Stand 5187 containing the stockpiles at Kabwe and the contents of the washplant and leachplant tailings. No further impairment has been made on the fair value on the basis that third party reports and internal evaluation of future income streams allied with the associated production costs generate net present values, using conservative discount rates, which are well in excess of the costs capitalised as intangible assets in the balance sheet.

 
                                     Net Book           Fair Value    Fair Value 
                                      Value of           Adjustment    GBP 
                                      Assets Acquired    GBP 
                                      GBP 
Exploration and evaluation assets           1,332,019     7,135,175    8,467,194 
Other net assets acquired                         843             -          843 
                                    -----------------  ------------  ----------- 
                                            1,332,862     7,135,175    8,468,037 
Impairment                                          -     (250,000)    (250,000) 
                                    -----------------  ------------  ----------- 
                                            1,332,862     6,885,175    8,218,037 
Deferred tax                                        -   (1,855,145)  (1,855,145) 
 
                                        1,332,862         5,030,030    6,362,892 
 
 

12(b). PREPAYMENT FOR NON-CURRENT ASSETS

   Group            Company 
                                                                                                                                                                              GBP                            GBP 
 
At 30 June 2012                             5,182,373    3,117,094 
Prior year adjustment                     (3,045,000)  (3,045,000) 
Transfer to Intangible Exploration 
 and Evaluation Assets                    (2,137,373)            - 
 
At 30 June 2012 (restated)                          -       72,094 
 
Transfer to investment in subsidiary                -     (72,094) 
Additions                                   1,181,467    1,181,467 
Prior year adjustment                     (1,181,467)  (1,181,467) 
 
At 30 June 2013 (restated)                          -            - 
 
Additions                                      36,970       36,970 
Provision                                    (36,970)     (36,970) 
 
At 30 June 2014                                     -            - 
 
 
 
 

The costs of GBP4,226,467 incurred prior to 1 July 2013 in relation to the copper project have been written off in prior years as the directors have concluded that no value can be attributed to the copper assets at the present time and that a significant proportion of the funds expensed on this project were considered to have been misappropriated. Consequently a prior period adjustment has been made as outlined in note 9.

   13.       PROPERTY PLANT AND EQUIPMENT 
 
                               Land and   Motor Vehicles    Other 
                               Buildings        GBP           GBP        Total 
                                  GBP                                      GBP 
 
GROUP 
Cost 
At 30 June 2012 (restated)             -          35,757     25,752     61,509 
Additions                         18,325          44,910    135,632    198,867 
Foreign exchange difference      (1,923)           (787)      (153)    (2,863) 
 
At 30 June 2013 (restated)        16,402          79,880    161,231    257,513 
 
Additions                         14,474          46,652     41,071    102,197 
Disposals                              -               -    (1,516)    (1,516) 
Foreign exchange difference      (4,775)        (16,107)   (21,033)   (41,915) 
 
At 30 June 2014                   26,101         110,425    179,753    316,279 
 
Accumulated depreciation 
At 30 June 2012 (restated)             -         (8,945)   (15,235)   (24,180) 
Charge for the year                    -        (20,186)   (27,140)   (47,326) 
Impairment                             -               -          -          - 
Foreign exchange difference            -             418        244        662 
 
At 30 June 2013 (restated)             -        (28,713)   (42,131)   (70,844) 
 
Charge for the year                    -        (24,633)   (44,247)   (68,880) 
Impairment                             -               -   (59,006)   (59,006) 
Disposals                              -               -        758        758 
Foreign exchange difference            -           7,677      9,259     16,936 
 
At 30 June 2014                        -        (45,669)  (135,367)  (181,036) 
 
 
Carrying amount 
At 30 June 2014                   26,101          64,756     44,386    135,243 
 
At 30 June 2013 (restated)        16,403          51,167    119,100    186,670 
 
At 30 June 2012 (restated)             -          26,812     10,517     37,329 
 
 

During the year to 30 June 2013 an amount of GBP16,402 was reclassified as land and buildings from exploration and evaluation assets and this element is included in the prior period adjustment summarised in note 9.

The carrying amount of motor vehicles held under finance lease amounted to GBP46,654 (2013: GBPnil).

 
                             Motor Vehicles    Other     Total 
                                   GBP          GBP       GBP 
 
COMPANY 
Cost 
At 30 June 2012 (restated)                -    15,990    15,990 
Additions                                 -    40,929    40,929 
 
At 30 June 2013 (restated)                -    56,919    56,919 
 
Additions                            46,654         -    46,654 
Disposals                                 -   (1,516)   (1,516) 
 
At 30 June 2014                      46,654    55,403   102,057 
 
Accumulated depreciation 
At 30 June 2012 (restated)                -  (12,871)  (12,871) 
Charge for the year                       -     (780)     (780) 
 
At 30 June 2013 (restated)                -  (13,651)  (13,651) 
 
Charge for the year                 (6,804)  (11,012)  (17,816) 
Disposals                                 -       758       758 
 
At 30 June 2014                     (6,804)  (23,905)  (30,709) 
 
 
Carrying amount 
At 30 June 2014                      39,850    31,498    71,348 
 
At 30 June 2013 (restated)                -    43,268    43,268 
 
At 30 June 2012 (restated)                -     3,119     3,119 
 
 

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