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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Network Tech. | LSE:NTY | London | Ordinary Share | GB00B4KHXB01 | ORD �200 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 750.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
Hot Features
Premium
TIDMNTY
RNS Number : 3210D
Network Technology PLC
30 November 2009
Announcement of Half-Year Results for the 6 months to 30 September 2009
30 November 2009
Chairman's Statement
I can report that turnover for the six months ended 30 September 2009 was 47%
higher, at GBP1.35 million (2008: GBP0.9 million). This reflects further growth
in sales of FollowMe product lines and a further decline in the older Token Ring
products and N-Lynx sales.
Operating costs have increased due to a much larger sales department in UK and
increased manufacturing and sales departments in USA with a current total
employee count of 47 (avg. 38 in 2008) as well as the development of new
products in the LED lighting space. The increase in sales during the period
resulted in an operating profit of GBP10,000 (2008: loss of GBP77,000). The
Group made a pre-tax profit of GBP9,000 for the six months ended 30 September
2009 compared to a loss of GBP81,000 in the same period last year.
The loss per share for the half year is 0.44p. Due to the continued squeeze of
operating funds in the world during that period we have not been able to achieve
the profit growth we had targeted.
We have continued our strategy, investing in our sales and support operations in
the US and UK. As expected the increased cost base has resulted in only a small
profit for the period.
We have reviewed our models for the next 18 months and expect to be able to
report an overall profit for the second half of this financial year, in line
with the seasonality of our business sector. The Company's mix of sales is
currently: 88% FollowMe Printing Systems, 4% Token-Ring and N-Lynx products,
7% LED Lighting; with only 1% in legacy products.
Guidance
Our flagship product lines FollowMe and Renewable Energy are likely to continue
to gain momentum in sales and market share. We do not expect Access Control
sales to recover until there is a real recovery of the world economies.
There is an uncertainty in the valuation of inventory should the legacy product
lines or Access Control market not recover which is also reflected in the Annual
Report of March 2009. However, the Directors believe this will not have an
impact on the operation but may curtail profits for the full period.
Our product focus has been successfully re-aligned to the current economic
situation and corporate spending patterns we therefore believe that the full
year is likely to conclude with an overall profit.
The Directors continue to consider a restructuring of the Company's shares to
allow payment of a dividend at the earliest possible time.
Klaus Bollmann
Chairman
Responsibility Statement
We confirm that to the best of our knowledge:
(a) the condensed set of financial statements contained in this document has
been prepared in accordance with International Accounting Standard 34 ('IAS
34'), 'Interim Financial Reporting' as adopted by the European Union;
(b) the Interim management report contained in this document includes a fair
review of the information required by the Financial Services Authority's
Disclosure and Transparency Rules ('DTR') 4.2.7R (indication of important events
during the first six months and description of principal risks and uncertainties
for the remaining six months of the year); and
(c) this document includes a fair review of the information required by DTR
4.2.8R (disclosure of related party transactions and changes therein).
The Directors are listed in the Annual Report and Accounts for 31 March 2009.
By order of the Board
Klaus Bollmann
Chairman
30 November 2009
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
| CONSOLIDATED INCOME STATEMENT |
+-----------------------------------------------------------------------------------+
| | | | | 6 | | 6 | | 12 |
| | | | | Months | | Months | | Months |
| | | | | to | | to | | to |
| | | | | 30.9.09 | | 30.9.08 | | 31.3.09 |
| | | | | GBP'000 | | GBP'000 | | GBP'000 |
+--------+--------+--------+--------+ +--------+ +--------+ +
| | | | | | | | | |
+--------+--------+--------+--------+ +--------+ +--------+ +
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
| | | | | | | | |
+-----------------+--------+--------+---------+--------+---------+--------+---------+
| Revenue | | | 1,355 | | 899 | | 2,117 |
+-----------------+--------+--------+---------+--------+---------+--------+---------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
| Cost of Sales | | | (318) | | (221) | | (477) |
+-----------------+--------+--------+---------+--------+---------+--------+---------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
| Gross Profit | | | 1,037 | | 678 | | 1,640 |
+-----------------+--------+--------+---------+--------+---------+--------+---------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
| Operating costs | | | (1,027) | | (755) | | (1,594) |
+-----------------+--------+--------+---------+--------+---------+--------+---------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
| Operating Profit/(Loss) | | 10 | | (77) | | 46 |
+--------------------------+--------+---------+--------+---------+--------+---------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
| Finance income | | | - | | - | | 13 |
+-----------------+--------+--------+---------+--------+---------+--------+---------+
| Finance costs | | | (1) | | (4) | | (14) |
+-----------------+--------+--------+---------+--------+---------+--------+---------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
| Profit/(Loss) before | | 9 | | (81) | | 45 |
| taxation | | | | | | |
+--------------------------+--------+---------+--------+---------+--------+---------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
| Tax on loss on ordinary | | (18) | | (4) | | (30) |
| activities | | | | | | |
+--------------------------+--------+---------+--------+---------+--------+---------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
| Profit/(Loss) for the | | (9) | | (85) | | 15 |
| period | | | | | | |
+--------------------------+--------+---------+--------+---------+--------+---------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
| Profit/(Loss) per | | -0.44p | | -4.14p | | 0.7p |
| Ordinary Share | | | | | | |
+--------------------------+--------+---------+--------+---------+--------+---------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
| CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME |
+-----------------------------------------------------------------------------------+
| | | | | 6 | | 6 | | 12 |
| | | | | Months | | Months | | Months |
| | | | | to | | to | | to |
| | | | | 30.9.09 | | 30.9.08 | | 31.3.09 |
| | | | | GBP'000 | | GBP'000 | | GBP'000 |
+--------+--------+--------+--------+ +--------+ +--------+ +
| | | | | | | | | |
+--------+--------+--------+--------+ +--------+ +--------+ +
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
| | | | | | | |
+--------------------------+--------+---------+--------+---------+--------+---------+
| Profit/(Loss) for the | | (9) | | (85) | | 15 |
| period | | | | | | |
+--------------------------+--------+---------+--------+---------+--------+---------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
| Other comprehensive | | | | | | |
| income: | | | | | | |
+--------------------------+--------+---------+--------+---------+--------+---------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
| Loss on investment | | 0 | | 0 | | (12) |
| revaluation | | | | | | |
+--------------------------+--------+---------+--------+---------+--------+---------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
| Exchange differences on | (103) | | 44 | | 312 |
| translation of foreign operations | | | | | |
+-----------------------------------+---------+--------+---------+--------+---------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
| Total comprehensive income for | (112) | | (41) | | 315 |
| the period | | | | | |
+-----------------------------------+---------+--------+---------+--------+---------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+---------+--------+---------+
+----------------------------+--+----------+----------+----------+----------+---------+----------+----------+
| STATEMENT OF FINANCIAL POSITION | | | | | |
+-----------------------------------------------------+----------+----------+---------+----------+----------+
| | 30.9.09 | | 30.9.08 | | 31.3.09 | |
| | GBP'000 | | GBP'000 | | GBP'000 | |
+------------------------------------------+ +----------+ +---------+ +----------+
| | | | | | | | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| | | | |
+-------------------------------+--------------------------------+----------+-------------------------------+
| Non Current Assets | | | |
+-------------------------------+--------------------------------+-------------------------------+----------+
| Property, Plant & Equipment | | 317 | | 242 | | 355 | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| Investments | | 28 | | 40 | | 28 | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| Development Costs | | 1,189 | | 983 | | 1,219 | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| Deferred Tax Asset | | 11 | | 71 | | 11 | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| | | 1,545 | | 1,336 | | 1,613 | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| Current Assets | | | |
+-------------------------------+--------------------------------+-------------------------------+----------+
| Inventories | | 1,154 | | 975 | | 1,222 | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| Trade and Other Receivables | | 450 | | 406 | | 346 | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| Cash and Cash Equivalents | | 211 | | 50 | | 155 | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| | | 1,815 | | 1,431 | | 1,723 | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| | | | |
+-------------------------------+--------------------------------+-------------------------------+----------+
| | | 3,360 | | 2,767 | | 3,336 | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| | | | |
+-------------------------------+--------------------------------+-------------------------------+----------+
| Current Liabilities | | | |
+-------------------------------+--------------------------------+-------------------------------+----------+
| Trade and Other Payables | | 1,651 | | 1,443 | | 1,496 | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| Bank Overdrafts and Loans | | 107 | | 96 | | 92 | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| | | | 1,758 | | 1,539 | | 1,588 | |
+----------------------------+--+----------+----------+----------+----------+---------+----------+----------+
| Non Current Liabilities | | | |
+-------------------------------+--------------------------------+-------------------------------+----------+
| Loans | | | 690 | | 560 | | 724 | |
+----------------------------+--+----------+----------+----------+----------+---------+----------+----------+
| | | | | |
+----------------------------+--+--------------------------------+-------------------------------+----------+
| Total Liabilities | | 2,448 | | 2,099 | | 2,312 | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| | | | |
+-------------------------------+--------------------------------+-------------------------------+----------+
| Equity | | | | |
+----------------------------+--+--------------------------------+-------------------------------+----------+
| Called Up Share Capital | | 4,112 | | 4,112 | | 4,112 | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| Share Premium Account | | 8,028 | | 8,028 | | 8,028 | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| Currency Translation Reserve | | 141 | | (24) | | 244 | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| Capital Redemption Reserve | | 12 | | 12 | | 12 | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| Revaluation Reserve | | 0 | | 12 | | 0 | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| Retained Loss | | (11,381) | | (11,472) | | (11,372) | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| | | | | |
+----------------------------+--+--------------------------------+-------------------------------+----------+
| Total Equity | | 912 | | 668 | | 1,024 | |
+-------------------------------+----------+----------+----------+----------+---------+----------+----------+
| | | | |
+-------------------------------+--------------------------------+-------------------------------+----------+
| Total Liabilities and Equity | | 3,360 | | 2,767 | | 3,336 | |
+----------------------------+--+----------+----------+----------+----------+---------+----------+----------+
+--------+--------+--------+--------+---------+--------+----+--------+--------+----+--------+
| CONSOLIDATED STATEMENT OF CASHFLOWS |
+-------------------------------------------------------------------------------------------+
| | | | | 6 | | 6 Months to | | 12 Months |
| | | | | Months | | 30.9.08 | | to |
| | | | | to | | GBP'000 | | 31.3.09 |
| | | | | 30.9.09 | | | | GBP'000 |
| | | | | GBP'000 | | | | |
+--------+--------+--------+--------+ +--------+ +--------+ +
| | | | | | | | | |
+--------+--------+--------+--------+ +--------+ +--------+ +
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+-------------+--------+-------------+
| Cashflows from | | | | | | |
| operations | | | | | | |
+--------------------------+--------+---------+--------+-------------+--------+-------------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+-------------+--------+-------------+
| Operating Profit/(Loss) for the | 10 | | (77) | | 46 |
| period | | | | | |
+-----------------------------------+---------+--------+-------------+--------+-------------+
| Depreciation | | | 35 | | 31 | | 70 |
+-----------------+--------+--------+---------+--------+-------------+--------+-------------+
| Amortisation | | | 50 | | 40 | | 189 |
+-----------------+--------+--------+---------+--------+-------------+--------+-------------+
| Exchange (losses)/gains | | 41 | | (112) | | (66) |
+--------------------------+--------+---------+--------+-------------+--------+-------------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+-------------+--------+-------------+
| Changes in working | | | | | | |
| capital: | | | | | | |
+--------------------------+--------+---------+--------+-------------+--------+-------------+
| Inventories | | | 69 | | (77) | | (324) |
+-----------------+--------+--------+---------+--------+-------------+--------+-------------+
| Trade and other | | (104) | | 175 | | 235 |
| receivables | | | | | | |
+--------------------------+--------+---------+--------+-------------+--------+-------------+
| Trade and other payables | | 155 | | 221 | | 274 |
+--------------------------+--------+---------+--------+-------------+--------+-------------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+-------------+--------+-------------+
| Cashflow from operations | | 256 | | 201 | | 424 |
+--------------------------+--------+---------+--------+-------------+--------+-------------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+-------------+--------+-------------+
| Finance Income | | | - | | - | | 13 |
+-----------------+--------+--------+---------+-------------+--------+-------------+--------+
| Finance costs | | | (1) | | (4) | | (14) |
+-----------------+--------+--------+---------+--------+-------------+--------+-------------+
| Tax paid/(received) | | (18) | | (4) | | 42 |
+--------------------------+--------+---------+--------+-------------+--------+-------------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+-------------+--------+-------------+
| Net cashflows from operating | 237 | | 193 | | 465 |
| activities | | | | | |
+-----------------------------------+---------+--------+-------------+--------+-------------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+-------------+--------+-------------+
| Investing Activities | | | | | | |
+--------------------------+--------+---------+--------+-------------+--------+-------------+
| Payments to Acquire Tangible | (15) | | (38) | | (156) |
| Fixed Assets | | | | | |
+-----------------------------------+---------+--------+-------------+--------+-------------+
| Payments to Acquire Intangible | (147) | | (142) | | (299) |
| Fixed Assets | | | | | |
+-----------------------------------+---------+--------+-------------+--------+-------------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+-------------+--------+-------------+
| Net Cash Inflow/(Outflow) from | (162) | | (180) | | (455) |
| Investing | | | | | |
+-----------------------------------+---------+--------+-------------+--------+-------------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+-------------+--------+-------------+
| Financing Activities | | | | | | |
+--------------------------+--------+---------+--------+-------------+--------+-------------+
| Repayment of Borrowings | | (116) | | 0 | | 0 |
+--------------------------+--------+---------+--------+-------------+--------+-------------+
| Increase/(Decrease) in Bank | 15 | | (32) | | (115) |
| Overdrafts | | | | | |
+-----------------------------------+---------+--------+-------------+--------+-------------+
| Proceeds from Borrowings | | 82 | | 34 | | 225 |
+--------------------------+--------+---------+--------+-------------+--------+-------------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+-------------+--------+-------------+
| Net Cash Inflow/(Outflow) from | (19) | | 2 | | 110 |
| Financing | | | | | |
+-----------------------------------+---------+--------+-------------+--------+-------------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+-------------+--------+-------------+
| Cash and Cash Equivalents at | 155 | | 35 | | 35 |
| Beginning of Period | | | | | |
+-----------------------------------+---------+--------+-------------+--------+-------------+
| | | | | | | | | |
+--------+--------+--------+--------+---------+--------+-------------+--------+-------------+
| Cash and Cash Equivalents at End | 211 | | 50 | | 155 |
| of Period | | | | | |
+--------+--------+--------+--------+---------+--------+----+--------+--------+----+--------+
+----------+----------+-------------+----------+----------+----------+-------------+----------+----------+
| CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
+--------------------------------------------------------------------------------------------------------+
| | | | | | | Foreign | | |
+----------+----------+-------------+----------+----------+----------+-------------+----------+----------+
| | |Revaluation | Share | Share | Other | Currency |Retained | Total |
| | | | | | | | | |
+----------+----------+-------------+----------+----------+----------+-------------+----------+----------+
| | | Reserve | Capital | Premium |Reserves |Translation | Loss | GBP'000 |
+----------+----------+-------------+----------+----------+----------+-------------+----------+----------+
| | | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 | |
+----------+----------+-------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | | |
+---------------------+-------------+----------+----------+----------+-------------+----------+----------+
| 1st April 2008 | 12 | 4,112 | 8,028 | 12 | (68) | (11,387) | 709 |
+---------------------+-------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | | | |
+----------+----------+-------------+----------+----------+----------+-------------+----------+----------+
| Loss for the Period | | | | | | (85) | (85) |
+---------------------+-------------+----------+----------+----------+-------------+----------+----------+
| Currency | | | | | 44 | | 44 |
| Translation | | | | | | | |
+---------------------+-------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | | | |
+----------+----------+-------------+----------+----------+----------+-------------+----------+----------+
| 30th September 2008 | 12 | 4,112 | 8,028 | 12 | (24) | (11,472) | 668 |
+---------------------+-------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | | | |
+----------+----------+-------------+----------+----------+----------+-------------+----------+----------+
| Profit for the | | | | | | 100 | 100 |
| Period | | | | | | | |
+---------------------+-------------+----------+----------+----------+-------------+----------+----------+
| Currency | | | | | 268 | | 268 |
| Translation | | | | | | | |
+---------------------+-------------+----------+----------+----------+-------------+----------+----------+
| Revaluation | (12) | | | | | | (12) |
+---------------------+-------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | | | |
+----------+----------+-------------+----------+----------+----------+-------------+----------+----------+
| 31st March 2009 | 0 | 4,112 | 8,028 | 12 | 244 | (11,372) | 1,024 |
+---------------------+-------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | | | |
+----------+----------+-------------+----------+----------+----------+-------------+----------+----------+
| Loss for the Period | | | | | | (9) | (9) |
+---------------------+-------------+----------+----------+----------+-------------+----------+----------+
| Currency | | | | | (103) | | (103) |
| Translation | | | | | | | |
+---------------------+-------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | | | |
+----------+----------+-------------+----------+----------+----------+-------------+----------+----------+
| 30th September 2009 | 0 | 4,112 | 8,028 | 12 | 141 | (11,381) | 912 |
+----------+----------+-------------+----------+----------+----------+-------------+----------+----------+
NOTES TO THE INTERIM REPORT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2009
1. Basis of Preparation
The interim financial statements have been prepared in accordance with the
accounting policies as set out in the Group financial statements for the 12
months ended 31 March 2009 except for the adoption of IAS 1 (revised) with the
effect of the addition of the statement of comprehensive income and calling the
Balance Sheet 'Statement of Financial Position' as per amended IAS 1. The
statements do not comprise full financial statements within the meaning of
section 435 of the Companies Act 2006. The statements are unaudited and have not
been independently reviewed.
The figures for the 12 months ended 31 March 2009 have been extracted from those
financial statements which have been filed with the Registrar of Companies.
Those accounts have been reported upon by the Group's auditors. The report of
the auditors was qualified by a limitation of scope regarding the net realisable
value of inventory of GBP629,000 included in the group's inventory of
GBP1,222,000. The Annual Report can be found on the Group's corporate website.
The Group's future cash forecasts and revenue projections, which are considered
to be based on prudent assumptions, indicate that the Group will be able to
operate within the level of its current committed facilities and as such the
Directors believe that it is appropriate to continue to prepare the financial
statements of the Group on a going concern basis
2. Interim Dividend
The Directors continue to be unable to recommend the payment of a dividend for
the 6 months ended 30 September 2009.
3. Loss per Share
Loss per share has been calculated on a loss after taxation of GBP9,000 (2008:
loss GBP85,000) and 2,055,971 GBP2 ordinary shares (2008: 2,055,971 GBP2
ordinary shares).
4. Inventory
The Directors have reviewed the Group's inventory and remain confident that it
will all be sold for at least its book value. However, in view of the current
state of the market there must be a level of uncertainty surrounding the ability
to realise certain items of inventory at greater than or equal to book value.
5. Creditors' amounts due within one year
Included within creditors is the sum of GBP233,343 due to the executive
directors, who have given loans to the company to finance the increase in sales
and marketing activities in the previous period.
6. Related Party Transactions
Transactions between the company and its subsidiaries, which are related
parties, have been eliminated on consolidation and are not disclosed. The
following transactions to place in the period ended 30th September 2009 at arms
length:
Woodgate Trust charged GBP36,360 in respect of rent and an amount of GBP30,600
was outstanding to Woodgate Trust in respect of this at 30th September 2009. A
further GBP36,731 was owed by the group to Woodgate Trust by way of an unsecured
loan.
Webpage-Marketing.Com Limited is considered to be a related party as it is
controlled by close family of K. Bollmann and Mrs H. Bollmann. During the
period, purchases of GBP113,992 were made from this company. At 30th September
2009 GBP775,608 was outstanding to Webpage-Marketing.Com Limited.
Woodgate Property Inc is considered to be a related party as it is controlled by
K. Bollmann and Mrs H. Bollmann. Woodgate Property Inc charged the group
GBP29,293 in respect of rent during the period and at the end of the period
GBP148,746 was owed by the group to Woodgate Property Inc.
Woodgate FURBS is considered to be a related party as K. Bollmann and Mrs H.
Bollmann are trustees. At the end of the period GBP238,700 was owed by the group
to Woodgate FURBS.
The ultimate controlling party is K. Bollmann and Mrs H. Bollmann via their
shareholdings and as trustees of The Woodgate Trust which also holds shares in
the Company. At the end of the period GBP233,343 was owed by the group to K.
Bollmann and Mrs H. Bollmann.
7. Segmental Information
For management purposes, the Group is currently organised into one business
segment, which is computer products and services. Since this is the only primary
reporting segment no further information has been shown. The following table
provides an analysis of the Group's revenue by geographical market, irrespective
of the origin of the goods and services:
+--------+--------+--------+--------+-----------+---+-----------+---+------------+
| | | | | 6 Months | | 6 Months | | 12 Months |
| | | | | to | | to | | to |
| | | | | 30.9.09 | | 30.9.08 | | 31.3.09 |
| | | | | GBP'000 | | GBP'000 | | GBP'000 |
+--------+--------+--------+--------+ +---+ +---+ +
| | | | | | | | | |
+--------+--------+--------+--------+ +-----------+ +---+ +
| | | | | | | | | |
+--------+--------+--------+--------+-----------+-----------+-----------+---+------------+
| Revenue by Geographical Market | | | | | |
+-----------------------------------+-----------+---+-----------+---+------------+
| United Kingdom | | | 203 | | 278 | | 385 |
+-----------------+--------+--------+-----------+---+-----------+---+------------+
| EC and other European Countries | 462 | | 240 | | 740 |
+-----------------------------------+-----------+---+-----------+---+------------+
| United States of America | | 420 | | 273 | | 665 |
+--------------------------+--------+-----------+---+-----------+---+------------+
| Japan and Asia Pacific | | 190 | | 7 | | 32 |
+--------------------------+--------+-----------+---+-----------+---+------------+
| Rest of World | | | 80 | | 101 | | 295 |
+-----------------+--------+--------+-----------+---+-----------+---+------------+
| | | | | 1,355 | | 899 | | 2,117 |
+--------+--------+--------+--------+-----------+---+-----------+---+------------+
The following is an analysis of the carrying amount of segmental assets, and
additions to property, plant and equipment and intangible assets, analysed by
the geographical area in which the assets are located:
+--------+--------+--------+--------+--------+--------+--------+--------+--------+
| Carrying amount of Segment Assets |
+--------------------------------------------------------------------------------+
| United Kingdom | | | 1,167 | | 945 | | 1,006 |
+-----------------+--------+--------+--------+--------+--------+--------+--------+
| United States of America | | 2,108 | | 1,760 | | 2,268 |
| | | | | | | |
+--------------------------+--------+--------+--------+--------+--------+--------+
| Germany | | | 85 | | 62 | | 62 |
+-----------------+--------+--------+--------+--------+--------+--------+--------+
| | | | | 3,360 | | 2,767 | | 3,336 |
+--------+--------+--------+--------+--------+--------+--------+--------+--------+
| | | | | | | | | |
+--------+--------+--------+--------+--------+--------+--------+--------+--------+
| Carrying amount of Segment | | | | | |
| Liabilities | | | | | |
+-----------------------------------+--------+--------+--------+--------+--------+
| United Kingdom | | | 1,206 | | 819 | | 1,037 |
+-----------------+--------+--------+--------+--------+--------+--------+--------+
| United States of America | | 1,218 | | 1,262 | | 1,259 |
| | | | | | | |
+--------------------------+--------+--------+--------+--------+--------+--------+
| Germany | | | 24 | | 18 | | 16 |
+-----------------+--------+--------+--------+--------+--------+--------+--------+
| | | | | 2,448 | | 2,099 | | 2,312 |
+--------+--------+--------+--------+--------+--------+--------+--------+--------+
| | | | | | | | | |
+--------+--------+--------+--------+--------+--------+--------+--------+--------+
| Additions to Tangible and Intangible Assets |
+--------------------------------------------------------------------------------+
| United Kingdom | | | 7 | | 30 | | 108 |
+-----------------+--------+--------+--------+--------+--------+--------+--------+
| United States of America | | 155 | | 150 | | 347 |
| | | | | | | |
+--------------------------+--------+--------+--------+--------+--------+--------+
| Germany | | | 0 | | 0 | | 0 |
+-----------------+--------+--------+--------+--------+--------+--------+--------+
| | | | | 162 | | 180 | | 455 |
+--------+--------+--------+--------+--------+--------+--------+--------+--------+
| | | | | | | | | |
+--------+--------+--------+--------+--------+--------+--------+--------+--------+
| Depreciation and Amortisation |
+--------------------------------------------------------------------------------+
| United Kingdom | | | 18 | | 17 | | 28 |
+-----------------+--------+--------+--------+--------+--------+--------+--------+
| United States of America | | 67 | | 54 | | 231 |
| | | | | | | |
+--------------------------+--------+--------+--------+--------+--------+--------+
| Germany | | | 0 | | 0 | | 0 |
+-----------------+--------+--------+--------+--------+--------+--------+--------+
| | | | | 85 | | 71 | | 259 |
+--------+--------+--------+--------+--------+--------+--------+--------+--------+
| | | | | | | | | |
+--------+--------+--------+--------+--------+--------+--------+--------+--------+
| Results by Segment |
+--------------------------------------------------------------------------------+
| United Kingdom | | | 310 | | 161 | | (195) |
+-----------------+--------+--------+--------+--------+--------+--------+--------+
| United States of America | | (319) | | (248) | | 210 |
| | | | | | | |
+--------------------------+--------+--------+--------+--------+--------+--------+
| Germany | | | 0 | | 2 | | 0 |
+-----------------+--------+--------+--------+--------+--------+--------+--------+
| | | | | (9) | | (85) | | 15 |
+--------+--------+--------+--------+--------+--------+--------+--------+--------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR BUBDBSUXGGCG
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