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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
All Ipo | LSE:ALP | London | Ordinary Share | GB0031922726 | 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% | 1.125 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMALP RNS Number : 6472O ALL IPO PLC 11 March 2009 ALL IPO PLC ('ALL IPO' or 'the Company') Unaudited Interim Results for the Six Months Ended 31 December 2008 ALL IPO today announces unaudited interim results for the six months ended 31December 2008. Chief Executive's Statement All IPO continues to work to broaden its business offering in what are challenging market conditions. We have made progress and while it is still very early days we are pleased that our efforts are stabilising the company prospects. If we can successfully continue this process through such a harsh climate, when market conditions change, and at some point they will, we will have a solid platform from which to profit. Clem Chambers Chief Executive 11th March 2009 Contacts: +---------------------------+---------------------------+---------------------------+ | Clem Chambers | clemc@advfn.com | | +---------------------------+---------------------------+---------------------------+ | Francesca De Franco, PR | francescad@advfn.com | 020 7070 0932 | +---------------------------+---------------------------+---------------------------+ | Fiona Kindness, Grant Thornton UK LLP (Nominated | 020 7728 3414 | | Adviser) | | +---------------------------+---------------------------+---------------------------+ ALL IPO PLC Profit and Loss Account for the six months ended 31 December 2008 +------------------------------+----------------+------------------+----------------+ | | Six months | Six months | Year ended | | | ended | ended | | +------------------------------+----------------+------------------+----------------+ | | 31 December | 31 December | 30 June 2008 | | | 2008 | 2007 | | +------------------------------+----------------+------------------+----------------+ | | Unaudited | Unaudited | Audited | +------------------------------+----------------+------------------+----------------+ | | GBP'000 | GBP'000 | GBP'000 | +------------------------------+----------------+------------------+----------------+ | | | | | +------------------------------+----------------+------------------+----------------+ | Turnover | 83 | 105 | 181 | +------------------------------+----------------+------------------+----------------+ | | | | | +------------------------------+----------------+------------------+----------------+ | Administrative expenses | (348) | (373) | (729) | +------------------------------+----------------+------------------+----------------+ | | | | | +------------------------------+----------------+------------------+----------------+ | Operating loss | (265) | (268) | (548) | +------------------------------+----------------+------------------+----------------+ | | | | | +------------------------------+----------------+------------------+----------------+ | Net interest | - | 3 | 4 | +------------------------------+----------------+------------------+----------------+ | | | | | +------------------------------+----------------+------------------+----------------+ | Loss on ordinary activities | (265) | (265) | (544) | | before taxation | | | | +------------------------------+----------------+------------------+----------------+ | | | | | +------------------------------+----------------+------------------+----------------+ | Tax on loss on ordinary | - | - | 21 | | activities | | | | +------------------------------+----------------+------------------+----------------+ | | | | | +------------------------------+----------------+------------------+----------------+ | Loss on ordinary activities | (265) | (265) | (523) | | after taxation | | | | +------------------------------+----------------+------------------+----------------+ | | | | | +------------------------------+----------------+------------------+----------------+ | | | | | +------------------------------+----------------+------------------+----------------+ | | | | | +------------------------------+----------------+------------------+----------------+ | | | | | +------------------------------+----------------+------------------+----------------+ | Loss per ordinary share | (0.95p) | (0.95p) | (1.88p) | +------------------------------+----------------+------------------+----------------+ | | | | | +------------------------------+----------------+------------------+----------------+ There were no recognised gains or losses other than the loss for the financial period. ALL IPO PLC Balance Sheets at 31 December 2008 +------------------------------+------------------+------------------+------------------+ | | | As restated | | +------------------------------+------------------+------------------+------------------+ | | 31 December | 31 December | 30 June 2008 | | | 2008 | 2007 | | +------------------------------+------------------+------------------+------------------+ | | Unaudited | Unaudited | Audited | +------------------------------+------------------+------------------+------------------+ | | GBP'000 | GBP'000 | GBP'000 | +------------------------------+------------------+------------------+------------------+ | Fixed Assets | | | | +------------------------------+------------------+------------------+------------------+ | Tangible fixed assets | 2,684 | 3,087 | 2,879 | +------------------------------+------------------+------------------+------------------+ | | | | | +------------------------------+------------------+------------------+------------------+ | Current Assets | | | | +------------------------------+------------------+------------------+------------------+ | Debtors | 66 | 83 | 61 | +------------------------------+------------------+------------------+------------------+ | Cash at bank and in hand | 19 | 109 | 95 | +------------------------------+------------------+------------------+------------------+ | | 85 | 192 | 156 | +------------------------------+------------------+------------------+------------------+ | Creditors: amounts falling | | | | | due within | | | | +------------------------------+------------------+------------------+------------------+ | one year | (81) | (91) | (95) | +------------------------------+------------------+------------------+------------------+ | | | | | +------------------------------+------------------+------------------+------------------+ | Net current assets | 4 | 101 | 61 | +------------------------------+------------------+------------------+------------------+ | | | | | +------------------------------+------------------+------------------+------------------+ | Total assets less current | 2,688 | 3,188 | 2,940 | | liabilities | | | | +------------------------------+------------------+------------------+------------------+ | | | | | +------------------------------+------------------+------------------+------------------+ | | | | | +------------------------------+------------------+------------------+------------------+ | | | | | +------------------------------+------------------+------------------+------------------+ | Capital and Reserves | | | | +------------------------------+------------------+------------------+------------------+ | Called up share capital | 725 | 725 | 725 | +------------------------------+------------------+------------------+------------------+ | Share premium account | 3,145 | 3,145 | 3,145 | +------------------------------+------------------+------------------+------------------+ | Merger reserve | 3,600 | 3,600 | 3,600 | +------------------------------+------------------+------------------+------------------+ | Option valuation reserve | 329 | 306 | 316 | +------------------------------+------------------+------------------+------------------+ | Profit and loss account | (5,111) | (4,588) | (4,846) | +------------------------------+------------------+------------------+------------------+ | | | | | +------------------------------+------------------+------------------+------------------+ | Shareholders' funds | 2,688 | 3,188 | 2,940 | +------------------------------+------------------+------------------+------------------+ ALL IPO PLC Cash Flow Statements for the six months ended 31 December 2008 +------------------------------+---------------+----------------+----------------+ | | Six months | Six months | Year ended | | | ended | ended | | +------------------------------+---------------+----------------+----------------+ | | 31 December | 31 December | 30 June 2008 | | | 2008 | 2007 | | +------------------------------+---------------+----------------+----------------+ | | Unaudited | Unaudited | Audited | +------------------------------+---------------+----------------+----------------+ | | GBP'000 | GBP'000 | GBP'000 | +------------------------------+---------------+----------------+----------------+ | | | | | +------------------------------+---------------+----------------+----------------+ | | | | | +------------------------------+---------------+----------------+----------------+ | Net cash outflow from | (32) | (186) | (226) | | operating activities | | | | +------------------------------+---------------+----------------+----------------+ | | | | | +------------------------------+---------------+----------------+----------------+ | Returns on investment and | | | | | servicing of finance | | | | +------------------------------+---------------+----------------+----------------+ | Net interest | - | 3 | 4 | +------------------------------+---------------+----------------+----------------+ | | | | | +------------------------------+---------------+----------------+----------------+ | Taxation | - | - | 57 | | Capital expenditure | | | | +------------------------------+---------------+----------------+----------------+ | Purchase of tangible fixed | (44) | (28) | (60) | | assets | | | | +------------------------------+---------------+----------------+----------------+ | | | | | +------------------------------+---------------+----------------+----------------+ | | | | | +------------------------------+---------------+----------------+----------------+ | Decrease in cash | (76) | (211) | (225) | +------------------------------+---------------+----------------+----------------+ ALL IPO PLC Notes to the interim statement for the six months ended 31 December 2008 1. Loss per ordinary share +---------------------------+---------+---------------+---------------+--------------+ | | | Six months | Six months | Year ended | | | | ended | ended | | +---------------------------+---------+---------------+---------------+--------------+ | | | 31 December | 31 December | 30 June 2008 | | | | 2008 | 2007 | | +---------------------------+---------+---------------+---------------+--------------+ | | | | | | +---------------------------+---------+---------------+---------------+--------------+ | Loss for the period | GBP'000 | (265) | (265) | (523) | +---------------------------+---------+---------------+---------------+--------------+ | | | | | | +---------------------------+---------+---------------+---------------+--------------+ | Weighted average number | '000 | 27,846 | 27,846 | 27,846 | | of shares | | | | | +---------------------------+---------+---------------+---------------+--------------+ | | | | | | +---------------------------+---------+---------------+---------------+--------------+ | Loss per share | p | (0.95p) | (0.95p) | (1.88p) | +---------------------------+---------+---------------+---------------+--------------+ 2. Reserves +---------------------------+------------------+--------------+--------------+--------------+ | | Profit and | Option | Merger | Share | | | loss | valuation | reserve | premium | | | account | reserve | | account | +---------------------------+------------------+--------------+--------------+--------------+ | | GBP'000 | GBP'000 | GBP'000 | GBP'000 | +---------------------------+------------------+--------------+--------------+--------------+ | | | | | | +---------------------------+------------------+--------------+--------------+--------------+ | At 1 July 2008 | (4,846) | 316 | 3,600 | 3,145 | +---------------------------+------------------+--------------+--------------+--------------+ | Recognition of equity | - | 13 | - | - | | settled share | | | | | | based payments in the | | | | | | year (FRS20) | | | | | +---------------------------+------------------+--------------+--------------+--------------+ | Loss retained for the | (265) | - | - | - | | period | | | | | +---------------------------+------------------+--------------+--------------+--------------+ | | | | | | +---------------------------+------------------+--------------+--------------+--------------+ | At 31 December 2008 | (5,111) | 329 | 3,600 | 3,145 | +---------------------------+------------------+--------------+--------------+--------------+ 3. Reconciliation of operating loss to net cash outflow from operating activities +------------------------------------+---------------+----------------+--------------+ | | Six months | Six months | Year ended | | | ended | ended | | +------------------------------------+---------------+----------------+--------------+ | | 31 December | 31 December | 30 June 2008 | | | 2008 | 2007 | | +------------------------------------+---------------+----------------+--------------+ | | | | | +------------------------------------+---------------+----------------+--------------+ | Operating loss | (265) | (268) | (548) | +------------------------------------+---------------+----------------+--------------+ | Depreciation | 239 | 236 | 476 | +------------------------------------+---------------+----------------+--------------+ | Recognition of equity settled | 13 | 19 | 29 | | share based payments in the year | | | | | (FRS20) | | | | +------------------------------------+---------------+----------------+--------------+ | Decrease / (increase )in debtors | (5) | 58 | 44 | +------------------------------------+---------------+----------------+--------------+ | Increase / (decrease) in creditors | (14) | (231) | (227) | +------------------------------------+---------------+----------------+--------------+ | | | | | +------------------------------------+---------------+----------------+--------------+ | Net cash outflow from operating | | | (226) | | activities | (32) | (186) | | +------------------------------------+---------------+----------------+--------------+ 4. The directors do not recommend the payment of a dividend. 5. The financial information contained in this document does not constitute statutory accounts within the meaning of Section 240 of the Companies Act 1985. The financial information for the year ended 30 June 2008 is extracted from the audited financial statements for that period on which the auditors gave an unqualified report. A copy of those financial statements has been filed with the Registrar of Companies 6. The interim financial information has been prepared in accordance with applicable accounting standards and under the historical cost convention. The principal accounting policies of the Company have remained unchanged from those set out in the Company's June 2008 Annual Report and Financial Statements. True and fair override on substance of subsidiary undertaking and change in accounting policy relating to presentation. On 1 July 2005 the trade and assets of Primary Platform Limited were transferred to the company at their book value of GBPnil. These trade and assets consisted solely of website development costs relating to the current ALL IPO platform. The cost of the company's investment in Primary Platform Limited reflected the underlying fair value of those website development costs originally acquired. As a result of the hive up the carrying value of the investment in the company was not supported by adequate assets in the subsidiary. As the company did not suffer a loss in respect of this transaction, in the opinion of the directors, it was not true and fair to make an impairment provision against the cost of investment in Primary Platform Limited. Accordingly, in prior years the investment was treated as goodwill on consolidation and was amortised over its useful economic life of 10 years. During the year ended 30 June 2008, the company applied to strike Primary Platform Limited from the register. The directors continue to consider that no loss has been suffered in respect of the website development costs originally acquired within Primary Platform Limited. However, in considering the most appropriate form of presentation for the investment value they consider that, in substance, the investment represents the fair value of the capitalised website development costs originally acquired. Accordingly, the company has reclassified the investment value to tangible fixed assets. As this change in presentation is a change in accounting policy a prior period adjustment has been made to reclassify the investment as a tangible fixed asset. The effect of this prior period adjustment on the balance sheet at 31 December 2008 was to increase tangible fixed assets by GBP3.1m and to reduce investments by an equal amount. The website development costs acquired within Primary Platform Limited are depreciated over their useful economic life of ten years. 7. Copies of this statement are being posted to shareholders shortly and will be available from the company's registered office at Suite 27, Essex Technology Centre, The Gables, Fyfield Road, Ongar, CM5 0GA and in electronic form from the Company's website, http://www.allipo.com/investors. This information is provided by RNS The company news service from the London Stock Exchange END IR EAXDEFFNNEFE
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