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| Name | Symbol | Market | Type |
|---|---|---|---|
| Cred Ag Co 24 | LSE:64IG | London | Medium Term Loan |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0 | - |
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RNS Number : 2303I
Simons & Co Limited
14 November 2008
Simons & Co Limited
Condensed consolidated interim financial information
Six months ended 30 June 2008
DIRECTORS' STATEMENT
An interim preference share dividend of 3.75% per share was paid on 28 June 2008.
No dividend has been or will be paid in respect of the company's ordinary shares.
J Simon
Director
Condensed consolidated interim income statement
6 months to 6 months to Year ended
30 June 30 June 31 December 2007
2008 2007 £
£ £
Note
Continuing operations
Investment income 23,936 23,935 38,296
Other operating income 2,713 3,696 7,412
Total income 3 26,649 27,631 45,708
Share of results of associates 31,464 19,388 2,246
58,113 47,019 47,954
Administrative expenses (22,700) (19,349) (57,735)
Operating profit/(loss) 35,413 27,670 (9,781)
Finance costs 4 (23,151) (22,971) (47,270)
Profit/(loss) before taxation 12,262 4,699 (57,051)
Tax 5 - - -
Profit/(loss) attributable to
equity holders of the parent 12,262 4,699 (57,051)
Condensed consolidated interim statement of changes in equity
Share capital Share premium Other reserves Available for sale Retained earnings
Total
reserve
equity
£
£ £ £ £
£
At 1 January 2007 200,000 140 35,000 744,322 231,657
1,211,119
Available for sale assets
-gains on revaluation taken to
equity - - - 71,804 -
71,804
Tax on items taken directly to
equity - - - (13,643) -
(13,643)
Net income recognised directly
in equity - - - 58,161 -
58,161
Profit for the period - - - - 4,699
4,699
Total recognised income and
expense - - - 58,161 4,699
62,860
At 30 June 2007 and 1 July
2007 200,000 140 35,000 802,483 236,356
1,273,979
Available for sale assets
- losses on revaluation taken
to equity - - - (440,399) -
(440,399)
Tax on items taken directly to
equity - - - 78,173 -
78,173
Net income recognised directly
in equity - - - (362,226) -
(362,226)
Loss for the period - - - - (61,750)
(61,750)
Total recognised income and
expense - - - (362,226) (61,750)
(423,976)
At 31 December 2007 and 1
January 2008 200,000 140 35,000 440,257 174,606
850,003
Available for sale assets
- losses on revaluation taken
to equity - - - (378,169) -
(378,169)
Tax on items taken directly to
equity - - - 73,912 -
73,912
Net losses recognised directly
in equity - - - (304,257) -
(304,257)
Profit for the period - - - - 12,262
12,262
Total recognised income and
expense - - - (304,257) 12,262
(291,995)
At 30 June 2008 200,000 140 35,000 136,000 186,868
558,008
Condensed consolidated interim balance sheet
At 31 December 2007
£
At 30 June 2008 At 30 June 2007
£ £
Note
Non-current assets
Interests in associates 313,661 299,339 282,197
Available for sale investments 6 1,072,275 1,890,843 1,450,444
1,385,936 2,190,182 1,732,641
Current assets
Other receivables 1,539 1,847 1,537
Cash and cash equivalents 142,217 198,320 151,316
143,756 200,167 152,853
Total assets 1,529,692 2,390,349 1,885,494
Current liabilities
Other payables (18,083) (15,835) (17,427)
Borrowings (671,000) (682,558) (681,233)
(689,083) (698,393) (698,660)
Net current liabilities (545,327) (498,226) (545,807)
Non-current liabilities
Other payables (82,449) (65,740) (62,767)
Borrowings (164,000) (164,000) (164,000)
Deferred tax liabilities 5 (36,152) (188,237) (110,064)
(282,601) (417,977) (336,831)
Total liabilities (971,684) (1,116,370) (1,035,491)
Net assets 558,008 1,273,979 850,003
Equity attributable to equity
holders
Share capital 200,000 200,000 200,000
Share premium 140 140 140
Other reserves 35,000 35,000 35,000
Available for sale reserve 136,000 802,483 440,257
Retained earnings 186,868 236,356 174,606
Total equity attributable to 558,008 1,273,979 850,003
equity holders
Condensed consolidated interim cash flow statement
6 months to 6 months to Year ended
30 June 30 June 31 December 2007
2008 2007 £
£ £
Cash flows from operating
activities
Profit /(loss) for the period 12,262 4,699 (57,051)
Finance costs 23,151 22,971 47,270
Share of results of associates (31,464) (19,388) (2,246)
Operating cash flows before
movements in working capital 3,949 8,282 (12,027)
(Increase)/decrease in (2) 660 970
receivables
Increase/(decrease) in 20,338 (17,477) (18,858)
payables
Net cash from/(used in)
operating activities before 24,285 (8,535) (29,915)
income taxes
Income taxes paid - - -
Net cash from/(used in)
operating activities 24,285 (8,535) (29,915)
Cash out flows from financing
activities
Preference dividends paid (6,150) (12,300) (18,450)
Interest on bank loans (17,001) (16,821) (34,970)
Net cash used in financing (23,151) (29,121) (53,420)
activities
Net increase/(decrease) in
cash and cash equivalents 1,134 (37,656) (83,335)
Cash and cash equivalents at
the beginning of the period 141,083 224,418 224,418
Cash and cash equivalents at
the end of the period 142,217 186,762 141,083
Analysed as:
Bank and cash in hand 142,217 198,320 151,316
Bank overdraft - (11,558) (10,233)
Cash and cash equivalents 142,217 186,762 141,083
Notes to the condensed consolidated interim financial information
1. NATURE OF OPERATIONS AND GENERAL INFORMATION
Simons and Co Limited is a company incorporated in the United Kingdom under the Companies Act 1985. The address of the registered office
is Quartermile One, 15 Lauriston Place, Edinburgh, Scotland, EH3 9EP.
The principal activities of the group consist of holding investments in a number of publicly listed and unquoted companies to provide
income. The principal activity of the associate is that of manufacturing instruments for measuring and monitoring the environment.
The company's preference shares are listed on the London Stock Exchange.
This condensed consolidated interim financial information has been approved for issue by the Board of Directors on 30 October 2008. It
has been neither audited or reviewed by the auditors.
The financial information set out in this interim report does not constitute statutory accounts as defined by s240 of the Companies Act
1985. A copy of the group's statutory financial statements for the year ended 31 December 2007, prepared in accordance with International
Financial Reporting Standards (IFRS) adopted by the European Union and International Financial Reporting Interpretations Committee (IFRIC)
interpretations, have been delivered to the Registrar of Companies. The auditors' report was not qualified.
2. BASIS OF PREPARATION
These interim consolidated condensed financial statements are for the six months ended 30 June 2008. They have been prepared in
accordance with IAS 34 "Interim Financial Reporting". They do not include all of the information required for full annual financial
statements, and should be read in conjunction with the consolidated financial statements of the group for the year ended 31 December 2007.
3. SEGMENT REPORTING
The group's business consists of a single segment and operates in a single geographical location.
An analysis of the group's income is as follows:
Year ended
6 months to 6 months to 31 December 2007
30 June2008 30 June 2007 £
£ £
Investment income
-Listed dividends-UK 23,936 23,935 38,296
Other operating income
-Bank deposit interest 2,713 3,696 7,412
26,649 27,631 45,708
4. FINANCE COSTS
Year ended
6 months to 6 months to 31 December 2007
30 June 2008 30 June 2007 £
£ £
Dividend on preference shares
-Interim paid (3.75p per 6,150 6,150 6,150
share)
-Final paid (3.75p per share) - - 6,150
Interest on bank loans and 17,001 16,821 34,970
overdrafts
23,151 22,971 47,270
No ordinary share dividend has been paid.
5. TAXATION
Year ended
6 months to 6 months to 31 December 2007
30 June 2008 30 June 2007 £
£ £
United Kingdom
Group current taxation - - -
Deferred tax
£
At 1 January 2007 174,594
Charge to equity 13,643
At 30 June 2007 and 1 July 2007 188,237
Credit to equity (78,173)
At 31 December 2007 and 1 January 2008 110,064
Credit to equity (73,912)
At 30 June 2008 36,152
6. INVESTMENTS
Available for sale Investments £
Listed investments
1 January 2007 1,819,039
Revaluation surplus transfer to equity 71,804
At 30 June 2007 and 1 July 2007 1,890,843
Revaluation deficit transfer to equity (440,399)
At 31 December 2007 and 1 January 2008 1,450,444
Revaluation deficit transfer to equity (378,169)
At 30 June 2008 1,072,275
This information is provided by RNS
The company news service from the London Stock Exchange
END
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