Preliminary Statement 2004

RNS Number:5885L
Simons & Co Limited
27 April 2005


Simons & Co Limited
Preliminary Statement


Year ended 31 December 2004


CHAIRMAN'S STATEMENT



During the 12 months ended 31 December 2004 the Group's investments continued to
grow in value and generated a satisfactory return. The directors expect that
performance to continue for the next accounting period so as to maintain a
reasonable level of performance.



Dividends



The dividend of 3.75% net per share due to Preference shareholders for the
period to 30 June 2004 was paid on 1 July 2004 and the dividend of 3.75% net per
share due to Preference shareholders for the period to 31 December 2004 was paid
on 1 January 2005.  No additional dividend was declared.



No dividend was declared in respect of the Company's ordinary shares.




GM SIMON
Chairman




Consolidated Profit and Loss Account

for the year ended 31 December 2004

        
                                                            Note     2004                 2003
                                                                     #                    #

Administrative expenses                                              (9,557)             (14,443)
Other operating income                                               2,750               979
Other operating expenses                                             (5,388)             (3,398)

Group operating loss                                                 (12,195)            (16,862)
Share of associate's operating profit/(loss)                         8,042               (12,952)

Total operating loss                                                 (4,153)             (29,814)
Profit on sale of fixed asset investments                            13,855              1,230

Profit/(loss) on ordinary activities before interest and
investment income                                                    9,702               (28,584)

Income from fixed asset investments                                  17,729              15,302
Interest receivable                                                  9,528               4,079
Interest payable                                                     (491)               (21)

Profit/(loss) on ordinary activities before taxation                 36,468              (9,224)
Tax on profit on ordinary activities                          1      (831)               1,992

Profit/(loss) on ordinary activities after taxation                  35,637              (7,232)
Dividends on non-equity shares                                2      (12,300)            (11,775)

Retained profit/(loss) for the year                                  23,337              (19,007)

All operations are continuing.



Summarised Consolidated Cash Flow Statement

for the year ended 31 December 2004

                                                                    2004                2003
                                                                    #                   #

Net cash inflow/(outflow) from operating activities                 74,434              (67,901)
Returns on investment and servicing of finance                      14,695              7,453
Taxation received                                                   -                   468
Financial investment                                                (57,307)            1,230
Management of liquid resources                                      4,802               7,339
Financing                                                           105,000             -

Increase/(decrease) in cash                                         141,624             (51,411)






Summarised Consolidated Balance Sheet

at 31 December 2004


                                                                      2004                2003
                                                                      #                   #
Fixed assets
Investments                                                           575,384            497,240

Current assets
Debtors due within one year                                           3,047              23,647
Investments                                                           240                7,780
Cash at bank and in hand                                              409,300            267,676
                                                                      412,587            299,103

Creditors: Amounts falling due within one year                        (16,752)           (19,855)

Net current assets                                                    395,835            279,248

Total assets less current liabilities                                 971,219            776,488

Creditors: Amounts falling due in more than one year                  (426,508)          (255,114)

Capital and reserves                                                  544,711            521,374







1.            TAXATION

Taxation charge/(credit) for the year:
                                                              2004                              2003
                                                              #                                 #
UK Corporation tax:
Current tax on income for the period at 30%
(2003: 30%)                                                   -                                  -
Adjustments in respect of prior periods                       -                                 (1,482)

Group current taxation                                        -                                 (1,482)
Share of associated undertaking's taxation                    831                                 (510)

Total current taxation                                        831                               (1,992)




2.            DIVIDENDS

The final dividend of 3.75% per share due to preference shareholders
was paid on 1 January 2005.



3.            PRELIMINARY STATEMENT



This preliminary statement, which has been agreed with the auditors,
was approved by the Board on 27 April 2005.  It is not the company's statutory
accounts.  The statutory accounts for the year ended 31 December 2003 have been
delivered to the Registrar of Companies and received an audit report which was
unqualified and did not contain statements under s237 (2) or (3) of the
Companies Act 1985.  The statutory accounts for the year ended 31 December 2004
have not yet been approved, audited or filed.


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