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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Clerkenwell | LSE:CRK | London | Ordinary Share | GB00B3L0Q676 | 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% | 28.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMCRK RNS Number : 7638G Clerkenwell Ventures PLC 05 February 2010 Clerkenwell Ventures PLC - Unaudited Preliminary Results 5 February 2010 Unaudited Preliminary Results for the year ended 30 September 2009 Clerkenwell Ventures PLC ("Clerkenwell Ventures" or "the Company") announces its preliminary results for the year ended 30 September 2009. Highlights: · Net cash as at 30 September 2009 of GBP3.1 million (2008: GBP29.9 million) · Loss before taxation for the year ended 30 September 2009 of GBP0.4m (2008: profit of GBP0.7m) Enquiries Clerkenwell Ventures PLC David Page, Non-executive Chairman Telephone: 07836 346934 Seymour Pierce Limited Telephone: 020 7107 8000 Nicola Marrin Clerkenwell Ventures PLC Unaudited Preliminary Results for the year ended 30 September 2009 Chairman's Statement It gives me pleasure to report the preliminary results of Clerkenwell Ventures for the year ended 30 September 2009. Investment strategy We have continued to evaluate a number of businesses. Results Loss after taxation for the year ended 30 September 2009 was GBP346,000 (2008: profit of GBP414,000). As at 30 September 2009, Clerkenwell Ventures' net cash balances amounted to GBP3.1 million (2008: GBP29.9 million). Corporate activity In March 2009, the Company returned GBP26.79 million to shareholders by way of a bonus issue and capital reduction. David Page Non-executive Chairman 5 February 2010 Clerkenwell Ventures PLC Unaudited Income Statement for the year ended 30 September 2009 +------------------------------------+-------+----------+-----------+-----------+ | |Notes | | Year | Year | | | | | ended | ended | | | | | 30 | 30 | | | | | September | September | | | | | 2009 | 2008 | | | | | Unaudited | Unaudited | | | | | | | | | | | GBP'000 | GBP'000 | +------------------------------------+-------+----------+-----------+-----------+ | Continuing operations | | | | | +------------------------------------+-------+----------+-----------+-----------+ | | | | | | +------------------------------------+-------+----------+-----------+-----------+ | Administrative expenses | | | (331) | (530) | +------------------------------------+-------+----------+-----------+-----------+ | | | | | | +------------------------------------+-------+----------+-----------+-----------+ | Operating loss before share based | | | (331) | (530) | | payments | | | | | +------------------------------------+-------+----------+-----------+-----------+ | | | | | | +------------------------------------+-------+----------+-----------+-----------+ | Share based payments | | | (297) | (307) | +------------------------------------+-------+----------+-----------+-----------+ | | | | | | +------------------------------------+-------+----------+-----------+-----------+ | Operating loss | | | (628) | (837) | +------------------------------------+-------+----------+-----------+-----------+ | | | | | | +------------------------------------+-------+----------+-----------+-----------+ | Finance income | | | 238 | 1,574 | +------------------------------------+-------+----------+-----------+-----------+ | | | | | | +------------------------------------+-------+----------+-----------+-----------+ | (Loss)/profit on ordinary | | | (390) | 737 | | activities before taxation | | | | | +------------------------------------+-------+----------+-----------+-----------+ | | | | | | +------------------------------------+-------+----------+-----------+-----------+ | Taxation receivable/(payable) | 3 | | 44 | (323) | +------------------------------------+-------+----------+-----------+-----------+ | | | | | | +------------------------------------+-------+----------+-----------+-----------+ | (Loss)/profit for the year | | | (346) | 414 | +------------------------------------+-------+----------+-----------+-----------+ | | | | | | +------------------------------------+-------+----------+-----------+-----------+ | | | | | | +------------------------------------+-------+----------+-----------+-----------+ | (Loss)/earnings per share | | | | | +------------------------------------+-------+----------+-----------+-----------+ | | | | | | +------------------------------------+-------+----------+-----------+-----------+ | Basic | 4 | | (4.2)p | 5.0p | +------------------------------------+-------+----------+-----------+-----------+ | Diluted | 4 | | (4.2)p | 5.0p | +------------------------------------+-------+----------+-----------+-----------+ Clerkenwell Ventures PLC Unaudited Balance Sheet as at 30 September 2009 +------------------------------+------------+----------+-----------+-----------+ | | | | As at | As at | | | | | 30 | 30 | | | | | September | September | | | | | 2009 | 2008 | | | | | Unaudited | Unaudited | | | | | | | | | | | GBP'000 | GBP'000 | +------------------------------+------------+----------+-----------+-----------+ | | | | | | +------------------------------+------------+----------+-----------+-----------+ | Non current Assets | | | | | +------------------------------+------------+----------+-----------+-----------+ | Property, plant and | | | 2 | 3 | | equipment | | | | | +------------------------------+------------+----------+-----------+-----------+ | | | | | | +------------------------------+------------+----------+-----------+-----------+ | | | | 2 | 3 | +------------------------------+------------+----------+-----------+-----------+ | | | | | | +------------------------------+------------+----------+-----------+-----------+ | Current Assets | | | | | +------------------------------+------------+----------+-----------+-----------+ | Trade and other receivables | | | 6 | 276 | +------------------------------+------------+----------+-----------+-----------+ | Cash and cash equivalents | | | 3,146 | 29,918 | +------------------------------+------------+----------+-----------+-----------+ | | | | | | +------------------------------+------------+----------+-----------+-----------+ | | | | 3,152 | 30,194 | +------------------------------+------------+----------+-----------+-----------+ | | | | | | +------------------------------+------------+----------+-----------+-----------+ | Total Assets | | | 3,154 | 30,197 | +------------------------------+------------+----------+-----------+-----------+ | | | | | | +------------------------------+------------+----------+-----------+-----------+ | | | | | | +------------------------------+------------+----------+-----------+-----------+ | Current Liabilities | | | | | +------------------------------+------------+----------+-----------+-----------+ | Trade and other payables | | | (85) | (107) | +------------------------------+------------+----------+-----------+-----------+ | Current taxation liabilities | | | (13) | (310) | +------------------------------+------------+----------+-----------+-----------+ | | | | | | +------------------------------+------------+----------+-----------+-----------+ | | | | (98) | (417) | +------------------------------+------------+----------+-----------+-----------+ | | | | | | +------------------------------+------------+----------+-----------+-----------+ | Net current assets | | | 3,054 | 29,777 | +------------------------------+------------+----------+-----------+-----------+ | | | | | | +------------------------------+------------+----------+-----------+-----------+ | Net assets | | | 3,056 | 29,780 | +------------------------------+------------+----------+-----------+-----------+ | | | | | | +------------------------------+------------+----------+-----------+-----------+ | | | | | | +------------------------------+------------+----------+-----------+-----------+ | Equity | | | | | +------------------------------+------------+----------+-----------+-----------+ | Share capital | | | 83 | 4,122 | +------------------------------+------------+----------+-----------+-----------+ | Share premium account | | | 2,262 | 24,898 | +------------------------------+------------+----------+-----------+-----------+ | Retained earnings | | | 711 | 760 | +------------------------------+------------+----------+-----------+-----------+ | | | | | | +------------------------------+------------+----------+-----------+-----------+ | Total shareholders' equity | | | 3,056 | 29,780 | +------------------------------+------------+----------+-----------+-----------+ | | | | | | +------------------------------+------------+----------+-----------+-----------+ Clerkenwell Ventures PLC Unaudited Cash Flow Statement for the year ended 30 September 2009 +----------------------------------------+-------+----------+-----------+-----------+ | |Notes | | Year | Year | | | | | ended | ended | | | | | 30 | 30 | | | | | September | September | | | | | 2009 | 2008 | | | | | Unaudited | Unaudited | | | | | | | | | | | GBP'000 | GBP'000 | +----------------------------------------+-------+----------+-----------+-----------+ | | | | | | +----------------------------------------+-------+----------+-----------+-----------+ | Net cash absorbed by operating | 5 | | (335) | (905) | | activities | | | | | +----------------------------------------+-------+----------+-----------+-----------+ | | | | | | +----------------------------------------+-------+----------+-----------+-----------+ | Investing activities | | | | | +----------------------------------------+-------+----------+-----------+-----------+ | Interest received | | | 238 | 1,574 | +----------------------------------------+-------+----------+-----------+-----------+ | | | | | | +----------------------------------------+-------+----------+-----------+-----------+ | Net cash generated by investing | | | 238 | 1,574 | | activities | | | | | +----------------------------------------+-------+----------+-----------+-----------+ | | | | | | +----------------------------------------+-------+----------+-----------+-----------+ | Financing activities | | | | | +----------------------------------------+-------+----------+-----------+-----------+ | Proceeds from issuance of new ordinary | | | 150 | 4 | | shares (net of expenses) | | | | | +----------------------------------------+-------+----------+-----------+-----------+ | Proceeds from bonus issuance of new B | | | (38) | - | | shares (net of expenses) | | | | | +----------------------------------------+-------+----------+-----------+-----------+ | Return of capital | | | (26,787) | - | +----------------------------------------+-------+----------+-----------+-----------+ | | | | | | +----------------------------------------+-------+----------+-----------+-----------+ | Net cash (used)/received from | | | (26,675) | 4 | | financing activities | | | | | +----------------------------------------+-------+----------+-----------+-----------+ | | | | | | +----------------------------------------+-------+----------+-----------+-----------+ | Net (decrease)/increase in cash and | | | (26,772) | 673 | | cash equivalents | | | | | +----------------------------------------+-------+----------+-----------+-----------+ | | | | | | +----------------------------------------+-------+----------+-----------+-----------+ | Cash and cash equivalents at beginning | | | 29,918 | 29,245 | | of the period | | | | | +----------------------------------------+-------+----------+-----------+-----------+ | | | | | | +----------------------------------------+-------+----------+-----------+-----------+ | Cash and cash equivalents at end of | | | 3,146 | 29,918 | | period | | | | | +----------------------------------------+-------+----------+-----------+-----------+ | | | | | | +----------------------------------------+-------+----------+-----------+-----------+ Clerkenwell Ventures Unaudited Statement of Changes in Shareholders' Equity for the year ended 30 September 2009 +------------+----------+----------+----------+----------+ | | Share | Share | Retained | Total | | | capital | premium | | equity | | | | | earnings | | | | GBP'000 | GBP'000 | | GBP'000 | | | | | GBP'000 | | +------------+----------+----------+----------+----------+ | | | | | | +------------+----------+----------+----------+----------+ | At 1 | 4,122 | 24,894 | 39 | 29,055 | | October | | | | | | 2007 | | | | | +------------+----------+----------+----------+----------+ | | | | | | +------------+----------+----------+----------+----------+ | Profit | - | - | 414 | 414 | | for | | | | | | the | | | | | | period | | | | | +------------+----------+----------+----------+----------+ | | | | | | +------------+----------+----------+----------+----------+ | Total | - | - | 414 | 414 | | recognised | | | | | | income and | | | | | | expense | | | | | +------------+----------+----------+----------+----------+ | | | | | | +------------+----------+----------+----------+----------+ | Ordinary | - | 4 | - | 4 | | shares | | | | | | issued | | | | | | (net of | | | | | | expenses) | | | | | +------------+----------+----------+----------+----------+ | Share | - | - | 307 | 307 | | based | | | | | | payments | | | | | +------------+----------+----------+----------+----------+ | | | | | | +------------+----------+----------+----------+----------+ | At 30 | 4,122 | 24,898 | 760 | 29,780 | | September | | | | | | 2008 | | | | | +------------+----------+----------+----------+----------+ | | | | | | +------------+----------+----------+----------+----------+ | Loss | - | - | (346) | (346) | | for | | | | | | the | | | | | | period | | | | | +------------+----------+----------+----------+----------+ | | | | | | +------------+----------+----------+----------+----------+ | Total | - | - | (346) | (346) | | recognised | | | | | | income and | | | | | | expense | | | | | +------------+----------+----------+----------+----------+ | | | | | | +------------+----------+----------+----------+----------+ | Ordinary | 50 | 100 | - | 150 | | shares | | | | | | issued | | | | | | (net of | | | | | | expenses) | | | | | +------------+----------+----------+----------+----------+ | Bonus | 22,698 | (22,736) | - | (38) | | issue | | | | | | of B | | | | | | shares | | | | | | (net | | | | | | of | | | | | | expenses) | | | | | +------------+----------+----------+----------+----------+ | Return | (26,787) | - | - | (26,787) | | of | | | | | | capital | | | | | +------------+----------+----------+----------+----------+ | Share | - | - | 297 | 297 | | based | | | | | | payments | | | | | +------------+----------+----------+----------+----------+ | | | | | | +------------+----------+----------+----------+----------+ | At 30 | 83 | 2,262 | 711 | 3,056 | | September | | | | | | 2009 | | | | | +------------+----------+----------+----------+----------+ | | | | | | +------------+----------+----------+----------+----------+ | | | | | | +------------+----------+----------+----------+----------+ Clerkenwell Ventures PLC Notes to the Unaudited Preliminary Results for the year ended 30 September 2009 1. General information Clerkenwell Ventures PLC is a company incorporated in the United Kingdom under the Companies Act 1985. The address of the registered office is 1 Park Row, Leeds, LS1 5AB, United Kingdom. Copies of this Preliminary Statement may be obtained from the above address or the investor section of the Company's website at http://www.clerkenwellventures.com. 2. Basis of preparation The unaudited preliminary results for the year ended 30 September 2009 has been prepared under the recognition and measurement principles of International Financial Reporting Standards as adopted by the EU ("IFRS") based on the accounting policies consistent with those used in the financial statements for the year ended 30 September 2009. The preliminary results for the year ended 30 September 2009 do not constitute statutory accounts within the meaning of section 434 of the Companies Act 2006. Statutory accounts for the year ended 30 September 2008 were prepared under IFRS and have been delivered to the Registrar of Companies. The audit report on these statutory accounts was unqualified and did not contain a statement either under section 237(2) or 237(3) of the Companies Act 1985. The financial information for the year ended 30 September 2008 has been extracted from the statutory accounts for the Group for the period. The preliminary announcement is presented in Pounds Sterling because that is the currency of the primary economic environment in which the group operates. All values are rounded to the nearest thousand Pounds (GBP'000) except when otherwise indicated. 3. Taxation +---------------------------------+----+-----------+-----------+ | | | Year | Year | | | | ended | ended | | | | 30 | 30 | | | | September | September | | | | 2009 | 2008 | | | | Unaudited | Unaudited | | | | | | | | | GBP'000 | GBP'000 | +---------------------------------+----+-----------+-----------+ | | | | | +---------------------------------+----+-----------+-----------+ | Based on the result for the | | | | | period: | | | | +---------------------------------+----+-----------+-----------+ | UK Corporation tax at 28% | | - | 310 | | (2008: 29%) | | | | +---------------------------------+----+-----------+-----------+ | (Over)/under provision in | | (44) | 13 | | earlier periods | | | | +---------------------------------+----+-----------+-----------+ | | | | | +---------------------------------+----+-----------+-----------+ | Total current tax | | (44) | 323 | +---------------------------------+----+-----------+-----------+ | | | | | +---------------------------------+----+-----------+-----------+ 4. Earnings per share +--------------------------------+-----+-----------+-----------+ | | | Year | Year | | | | ended | ended | | | | 30 | 30 | | | | September | September | | | | 2009 | 2008 | | | | Unaudited | Unaudited | | | | | | | | | GBP'000 | GBP'000 | +--------------------------------+-----+-----------+-----------+ | | | | | +--------------------------------+-----+-----------+-----------+ | Earnings for the purposes of | | | | | basic and diluted earnings per | | | | | share: | | (346) | 414 | | - (Loss)/profit for the year | | | | +--------------------------------+-----+-----------+-----------+ | Share based payments | | 297 | 307 | +--------------------------------+-----+-----------+-----------+ | | | | | +--------------------------------+-----+-----------+-----------+ | Adjusted (loss)/profit for the | | | | | period for the purposes of | | (49) | 721 | | headline basic and diluted | | | | | earnings per share | | | | +--------------------------------+-----+-----------+-----------+ | | | | | +--------------------------------+-----+-----------+-----------+ | | | | | +--------------------------------+-----+-----------+-----------+ | | | Weighted | Weighted | | | | Average | | | | | number | Average | | | | of shares | number | | | | | of | | | | | shares | | | | '000 | Restated | | | | | | | | | | '000 | +--------------------------------+-----+-----------+-----------+ | Weighted average number of | | | | | shares in issue for the | | 8,331 | 8,245 | | purposes of basic earnings per | | | | | share | | | | +--------------------------------+-----+-----------+-----------+ | | | | | | Effect of dilutive potential | | | | | ordinary shares: | | | | +--------------------------------+-----+-----------+-----------+ | - Share options | | - | 50 | +--------------------------------+-----+-----------+-----------+ | | | | | +--------------------------------+-----+-----------+-----------+ | Weighted average number of | | | | | shares for the purposes of | | 8,331 | 8,295 | | diluted earnings per share | | | | +--------------------------------+-----+-----------+-----------+ | | | | | +--------------------------------+-----+-----------+-----------+ | | | | | +--------------------------------+-----+-----------+-----------+ | (Loss)/earnings per share: | | | Restated | | | | | | +--------------------------------+-----+-----------+-----------+ | | | | | +--------------------------------+-----+-----------+-----------+ | Basic | | (4.2p) | 5.0p | +--------------------------------+-----+-----------+-----------+ | Diluted | | (4.2p) | 5.0p | +--------------------------------+-----+-----------+-----------+ | | | | | +--------------------------------+-----+-----------+-----------+ | Adjusted basic | | (0.6p) | 8.7p | +--------------------------------+-----+-----------+-----------+ | Adjusted diluted | | (0.6p) | 8.7p | +--------------------------------+-----+-----------+-----------+ | | | | | +--------------------------------+-----+-----------+-----------+ The Company returned GBP26.79 million to shareholders by way of a bonus issue of 272 B Shares per ordinary share of 5p each and a capital reduction which cancelled the B Shares and reduced the nominal value of each ordinary share from 5 pence to 0.1 pence each. On 9 March 2009, every 10 ordinary share of 0.1 pence each in the Company was consolidated into 1 new ordinary share of 1 pence each in the Company. The weighted average number of shares in issue for the year ended 30 September 2008 above has therefore been restated assuming that the consolidation had taken place. 5. Notes to the cash flow statement Reconciliation of net cash flow from operating activities +-------------------------------------+----------+-----------+-----------+ | | | Year | Year | | | | ended | ended | | | | 30 | 30 | | | | September | September | | | | 2009 | 2008 | | | | Unaudited | Unaudited | | | | | | | | | GBP'000 | GBP'000 | +-------------------------------------+----------+-----------+-----------+ | | | | | +-------------------------------------+----------+-----------+-----------+ | (Loss)/profit before taxation | | (390) | 737 | +-------------------------------------+----------+-----------+-----------+ | | | | | +-------------------------------------+----------+-----------+-----------+ | Adjustments: | | | | +-------------------------------------+----------+-----------+-----------+ | Investment revenues | | (238) | (1,574) | +-------------------------------------+----------+-----------+-----------+ | Depreciation and amortisation | | 1 | 1 | +-------------------------------------+----------+-----------+-----------+ | Share based payments expense | | 297 | 307 | +-------------------------------------+----------+-----------+-----------+ | | | | | +-------------------------------------+----------+-----------+-----------+ | Operating cash flows before | | (330) | (529) | | movements in working capital | | | | +-------------------------------------+----------+-----------+-----------+ | Decrease/(increase) in trade and | | 270 | (217) | | other receivables | | | | +-------------------------------------+----------+-----------+-----------+ | Decrease in payables | | (22) | (146) | +-------------------------------------+----------+-----------+-----------+ | | | | | +-------------------------------------+----------+-----------+-----------+ | Cash generated from operating | | (82) | (892) | | activities | | | | +-------------------------------------+----------+-----------+-----------+ | Taxation paid | | (253) | (13) | +-------------------------------------+----------+-----------+-----------+ | | | | | +-------------------------------------+----------+-----------+-----------+ | Net cash outflow from operating | | (335) | (905) | | activities | | | | +-------------------------------------+----------+-----------+-----------+ | | | | | +-------------------------------------+----------+-----------+-----------+ This information is provided by RNS The company news service from the London Stock Exchange END FR EADASELLEEFF
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