We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register to chat with like-minded investors on our interactive forums.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Playwize | LSE:PLW | London | Ordinary Share | GB00B3K51464 | 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% | 5.50 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
Hot Features
Premium
RNS Number : 8475K
Playwize PLC
30 December 2008
30 December 2008
PLAYWIZE PLC
("Playwize" or the "Company")
PRELIMINARY RESULTS
FOR THE TWELVE MONTHS TO 31 MARCH 2008
AND THE SIX MONTHS TO 30 SEPTEMBER 2008
The Board of Playwize plc, the AIM listed company, today announces its audited results for the twelve months to 31 March 2008 and
unaudited results for the six months to 30 September 2008.
Highlights:
12 months to 31 March 2008.
* Loss before tax £808,000 (2007: Loss £1,962,000);
* Turnover £85,000 (2007: £71,000);
6 months to 30 September 2008
* Loss before tax £315,000 (2007: Loss £657,000);
* Turnover £23,000 (2007: £15,000);
The Playwize Group has now ceased to trade, and the Board is now actively seeking an acquisition as per the investment strategy which
was approved at the EGM held on 18th November 2008, where Shareholders approved a Resolution to make an acquisition of a company (or the
assets of a company), which trades in either the UK, the rest of Europe, the United States of America or the Middle East, and which, if
possible, has a proven record of turnover and profitability, in any field of activity, other than real estate. As reported in the circular
to Shareholders dated 23 October 2008, the Company has reached an agreement in principle with the Headstart Funds to make a further £250,000
facility available to the Company, under certain conditions.
It is anticipated that, now that the audited accounts for the year to 31 March 2008 have been published, trading in the Company's shares
on the AIM market of the London Stock Exchange will resume, having been temporarily suspended on 15 July 2008.
Copies of the audited accounts for the year to 31 March 2008 and the unaudited accounts for the six months to 30 September 2008 have
been posted to shareholders today, and may also be found on the Company's website at http://www.playwizeplc.com/investors.html
---ends---
Enquiries:
Playwize plc
John Corre Chairman 00972 544602253
HB Corporate 020 7510 8600
Imran Ahmad/ Rory Creedon
Consolidated income statement
_________________________________________________________________________ ______
for the year ended 31 March 2008
2008 2007
Notes £'000 £'000
Revenues 85 71
Cost of revenues (761) (1,840)
(676) (1,769)
Gross loss
Administrative expenses (355) (185)
(1,031) (1,954)
Operating loss
Interest receivable 9 16
Interest payable and similar charges (60) (24)
Exceptional item 274 -
(808) (1,962)
Loss for the year before taxation
Taxation - -
(808) (1,962)
Loss for the financial year
Basis and diluted loss per share 0.7p 3.3p
There is no material difference between the results stated above and the results shown on an historical basis.
There are no other gains or losses other than those recognised in the income statement.
Balance sheets
_________________________________________________________________________ ______
at 31 March 2008
Group Group Company Company
2008 2007 2008 2007
Notes £'000 £'000 £'000 £'000
Non Current assets
Plant and equipment 24 29 24 -
Investments - - - -
24 29 24 -
Current assets
Debtors 85 105 51 2
Cash and cash equivalents 354 130 354 -
Total current assets 439 235 405 2
Total assets 463 264 429 2
Current Liabilities
Trade and other payables (910) (1,174) (820) (743)
Net liabilities (447) (910) (391) (741)
Equity
share capital 1,935 604 1,935 604
Share premium 5,710 5,770 5,710 5,770
Revenue reserves (8,092) (8,019) (8,036) (7,115)
Total equity (447) (910) (391) (741)
Consolidated cash flow statement
_________________________________________________________________________ ______
for the year ended 31 March 2008
Group Group Company Company
2008 2007 2008 2007
£'000 £'000 £'000 £'000
Cash flows from operating activities
Operating loss (1,031) (1,954) (865) (7,049)
Adjustments for:
Investment written off 249
Depreciation 14 15 - -
Fees settled in shares 40 11 40 -
Operating cash flow before working (977) (1,928) (825) (6,800)
capital movements
Returns on investments and servicing of
finance
Decrease/(increase) in receivables 20 (29) (49) 6,046
Increase/(decrease) in payables (29) (143) (18) (27)
Operating cash flow (986) (2,100) (892) (781)
Returns on investments and servicing of
finance
Finance income 9 16 8 -
Finance costs (33) - 2 -
Net cash used in operating activities (1,010) (2,084) (882) (781)
Financing activities
Issue of equity capital 1150 1,572 1150 28
Issue costs - - - 238
Increase in borrowings 110 670 110 500
1,260 2,242 1,260 766
Investing activities
Purchase of Plant and equipment (26) (39) (24) -
Research and development tax credit - 35 - -
(26) (4) (24) -
Net change in cash and cash equivalents 224 154 354 (15)
Cash and cash equivalents at the 130 (24) - 15
beginning of the year
Cash and cash equivalents at the 354 130 354 -
beginning of the year
consolidated income statement
for the six months ended 30 September 2008
Unaudited Unaudited Audited
6 months ended 6 months ended Year
30 September 30 September ended
2008 2007 31
March
2008
£'000 £'000 £'000
Revenues 23 15 85
Cost of revenues 2 (478) (761)
Gross profit (loss) 21 (463) (676)
Administrative expenses (307) (164) (355)
Operating loss (286) (627) (1,031)
Interest receivable 4 1 9
Interest payable and similar (33) (31) (60)
charges
Exceptional item - - 274
(315) (657) (808)
Loss for the period before
taxation
Loss for the financial period (315) (657) (808)
Pence Pence Pence
Basic and Diluted Loss per 3 (0.16) (1.09) (0.7)
share
There is no material difference between the results stated above and the results shown on an historical basis.
There are no other gains or losses other than those recognised in the income statement
consolidated balance sheet
as at 30 September2008
Unaudited Unaudited Audited
As at As at As at
30 30 31
September September March
2008 2007 2008
£'000 £'000 £'000
Non current assets
Plant and Equipment - 20 24
Current assets
Debtors 9 119 85
Cash and cash equivalents 15 67 354
Total current assets 24 186 439
Total assets 24 206 463
Current liabilities
Trade and other payables (786) (1,756) (910)
Net liabilities (762) (1,550) (447)
Equity
Share capital 1,935 620 1,935
Share premium 5,710 5,770 5,710
Revenue reserves (8407) (7,940) (8,092)
(762) (1,550) (447)
Total equity
consolidated cash flow statement
for the six months ended 30 September 2008
Unaudited Unaudited Audited
6 months ended 6 months ended Year
30 September 30 September ended
2008 2007 31
March
2008
£'000 £'000 £'000
Cash Flows from operating
activities
Operating Loss (286) (627) (1,031)
Depreciation - 9 14
Fees settled in shares - - 40
Operating cash flow before (286) (618) (977)
working capital movements
Returns on investments and
servicing of finance
Decrease(increase) in 76 (14) 20
receivables
Increase(decrease) in payables (124) 238 (29)
Operating cash flow (334) (394) (986)
Returns on investments and
servicing of finance
Finance income 4 1 9
Finance costs (33) (31) (33)
Net cash used in operating (363) (424) (1,010)
activities
Financing activities
Issue of share capital - 16 1,150
Increase in borrowings - 345 110
Investing activities
Sale(Purchase)) of Plant and 24 - (26)
equipment
Net change in cash and cash (339) (63) 224
equivalents
Cash and cash equivalents at 354 130 130
the beginning of period
Cash and cash equivalents at 15 67 354
the end of period
Notes to the Financial Information
1 Publication of non-statutory accounts
The financial information contained in this preliminary statement does not constitute statutory accounts as defined in Section 240 of
the Companies Act 1985. The financial information for the year ended 31 March 2008 has been extracted from the audited Group financial
statements.
The following are extracts from the notes to the audited Group financial statements for the year ended 31 March 2008.
2 Accounting policies
The financial statements have been prepared under International Financial Reporting Standards as adopted by the European Union (EU). The
following principal accounting policies have been applied and are in accordance with applicable accounting standards.
Basis of preparation
The financial statements have been produced on a going concern basis.
Basis of consolidation
The consolidated financial statements incorporate the results of the Company and all of its subsidiaries for the relevant accounting
periods.
Revenues
Revenues represent amounts receivable for goods and services net of VAT and trade discounts.
Depreciation
Depreciation is provided at a rate calculated to write off the cost less estimated residual value of all tangible fixed assets over
their expected useful lives as follows:
Fixtures, fittings & equipment 50% per annum straight line
Leasing
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the term of the lease.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date except
for deferred tax assets, which are only recognised to the extent that the Group anticipates making sufficient taxable profits in the future
to absorb the reversal of the underlying timing differences. Deferred tax balances are not discounted.
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into Sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are
taken to the profit and loss account.
Research and development
Research and development expenditure is written off as incurred, except that development expenditure on an individual project is carried
forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the
expected future sales from the related project
3 Loss per share
Basic loss per share amounts are calculated by dividing loss for the period attributable to ordinary equity holders by the weighted
average number of ordinary shares outstanding during the year.
FRS 14 requires presentation of diluted EPS when a company could be called upon to issue shares that would decrease net loss per share.
For a loss making company with outstanding share options, net loss per share would only be increased by the exercise of out-of-the money
options. Since it seems inappropriate to assume option holders would act irrationally, no adjustment has been made to diluted EPS for
out-of-the money options.
The following reflects the income and share data used in the basic and diluted earnings per share computations:
Years to 31 March
Loss per share has been 2007
calculated using the 2008 Weighted
following: Weighted average number of
2008 average number of 2007 shares
(Loss)/ shares (Loss)/
Earnings Earnings
Basic & diluted (808,000) 114,365,088 (£1,962,000) 59,500,297
Periods to 30 September
Loss per share has been 2007
calculated using the 2008 Weighted
following: Weighted average number of
2008 average number of 2007 shares
(Loss)/ shares (Loss)/
Earnings Earnings
Basic & diluted (315,000) 193,518,001 (£657,000) 60,413,631
4. Statement of changes in equity
Share capital Share premium Retained earnings Total equity
At 1 April 2006 576 5,532 (5,322) 786
Funds from share issues 28 238 - 266
Loss for the financial period - (1,962) (1,962)
At 1 April 2007 604 5,770 (7,284) (910)
Funds from share issues 1,331 (60) - 1,271
Loss for the financial period - - (808) (808)
At 31 March 2008 and 30 1,935 5,710 (8,092) (447)
September 2008
5 Annual report
The Annual Report and Accounts for the year ended 31 March 2008 and the Interim Report for the six months to 30 September 2008 will be
mailed to shareholders shortly.
6 Annual general meeting
The Annual General Meeting of the shareholders of Playwize plc will be held at 11.00am on 28 January 2009 at 7 Cork Street, London W1S
3LJ
- Ends -
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR TLBATMMATBRP
1 Year Playwize Chart |
1 Month Playwize Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
