Interim Results for 6 months to 30 Sep 2009

 

TIDMRCAP 
 
RNS Number : 7929D 
Ricmore Capital PLC 
08 December 2009 
 

 
 
For immediate release 8 December 2009 
 
 
Ricmore Capital Plc 
( or the "Company") 
 
 
Unaudited Interim Results for the Six Months Ended 30 September 2009 
 
 
Chairman's statement 
 
 
Introduction 
Throughout this interim six month period to 30 September 2009 the Company has 
been an Investing Company. This follows the disposal by the Company, on 9 
January 2009 of the entire issued share capital of Energy Assets Limited, a 
wholly owned subsidiary of the Company and its principal trading entity. 
 
 
Period covered 
 
 
The Company changed its accounting reference date from 31 December to 31 March 
and issued statutory accounts for the period to 31 March 2009 in order to better 
inform shareholders by presenting audited Financial Statements made up to a 
period after the sale of its trading subsidiary. Accordingly these condensed 
financial statements present the financial results for the six months to 
September 2009. Comparative information reflects the fifteen month period to 31 
March 2009 and the first six months of that extended financial period to 30 June 
2008. 
Financial Results 
In the 6 months to 30 September 2009 the Company made a loss after taxation of 
GBP68,734 (2008 - loss GBP83,880) representing a loss per share of 0.02p (2008 - 
loss 0.03p per share). 
Following receipt of the initial consideration arising from the sale of Energy 
Assets Limited in January 2009, and after settlement of costs, cash balances 
amounted to some GBP374,000 at the end of September 2009. 
The Future 
Your board is seeking out suitable acquisitions and meanwhile is endeavouring to 
keep costs to a minimum whilst conserving cash. 
 
 
Contact:    John Shaw, Ricmore Capital Plc on 07973 826613 
    Roland Cornish, Beaumont Cornish Limited on 020 7628 3396 
 
+-------------------------+------+------------+-------------+-------------+ 
|                          Ricmore Capital Plc                            | 
+-------------------------------------------------------------------------+ 
|                    Statement of Comprehensive Income                    | 
+-------------------------------------------------------------------------+ 
|            for the six month period ended 30 September 2009             | 
+-------------------------------------------------------------------------+ 
|                         | Note | Six months |  Six months |   Period to | 
|                         |      |         to |          to |    31 March | 
|                         |      |         30 |     30 June |        2009 | 
|                         |      |  September |        2008 |             | 
|                         |      |       2009 |             |             | 
+-------------------------+------+------------+-------------+-------------+ 
|                         |      | Unaudited  |  Unaudited  |     Audited | 
+-------------------------+------+------------+-------------+-------------+ 
|                         |      |    GBP     |    GBP      |    GBP      | 
+-------------------------+------+------------+-------------+-------------+ 
| Revenue                 |      |          - |           - |           - | 
+-------------------------+------+------------+-------------+-------------+ 
| Cost of sales           |      |          - |           - |           - | 
+-------------------------+------+------------+-------------+-------------+ 
| Gross Profit            |      |          - |           - |           - | 
+-------------------------+------+------------+-------------+-------------+ 
|                         |      |            |             |             | 
+-------------------------+------+------------+-------------+-------------+ 
| Operating expenses      |      |   (69,606) |    (85,442) |   (377,582) | 
+-------------------------+------+------------+-------------+-------------+ 
| Operating loss          |      |   (69,606) |    (85,442) |   (377,582) | 
+-------------------------+------+------------+-------------+-------------+ 
|                         |      |            |             |             | 
+-------------------------+------+------------+-------------+-------------+ 
| Finance Income          |      |        872 |       1,562 |      5,041  | 
+-------------------------+------+------------+-------------+-------------+ 
| Loss on disposal of     |      |          - |           - | (2,917,095) | 
| subsidiary undertakings |      |            |             |             | 
+-------------------------+------+------------+-------------+-------------+ 
| Loss before taxation    |      |   (68,734) |    (83,880) | (3,289,636) | 
+-------------------------+------+------------+-------------+-------------+ 
| Taxation                |      |          - |           - |           - | 
+-------------------------+------+------------+-------------+-------------+ 
|                         |      |            |             |             | 
+-------------------------+------+------------+-------------+-------------+ 
| Loss after taxation     |      |   (68,734) |    (83,880) | (3,289,636) | 
+-------------------------+------+------------+-------------+-------------+ 
|                         |      |            |             |             | 
+-------------------------+------+------------+-------------+-------------+ 
| Total comprehensive     |      |   (68,734) |    (83,880) | (3,289,636) | 
| income attributable to  |      |            |             |             | 
| equity shareholders     |      |            |             |             | 
+-------------------------+------+------------+-------------+-------------+ 
|                         |      |            |             |             | 
+-------------------------+------+------------+-------------+-------------+ 
| Loss per share basic    |    2 |     (0.02) |      (0.03) |      (0.99) | 
| and diluted (p)         |      |            |             |             | 
+-------------------------+------+------------+-------------+-------------+ 
 
 
 
+------------------------+------+-------------+-------------+-------------+ 
|                          Ricmore Capital Plc                            | 
+-------------------------------------------------------------------------+ 
|                              Balance Sheet                              | 
+-------------------------------------------------------------------------+ 
|                        As at 30 September 2009                          | 
+-------------------------------------------------------------------------+ 
|                        |      |          30 |     30 June |    31 March | 
|                        |      |   September |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
|                        |      |        2009 |        2008 |        2009 | 
+------------------------+------+-------------+-------------+-------------+ 
|                        |      |  Unaudited  |  Unaudited  |     Audited | 
+------------------------+------+-------------+-------------+-------------+ 
|                        |Note  |         GBP |         GBP |         GBP | 
+------------------------+------+-------------+-------------+-------------+ 
| Assets                 |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Non current assets     |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Investment             |      |           - |   2,382,690 |           - | 
+------------------------+------+-------------+-------------+-------------+ 
| Total non current      |      |           - |   2,382,690 |           - | 
| assets                 |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Current assets         |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Trade and other        |    4 |     515,239 |   1,562,125 |     515,239 | 
| receivables            |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Cash and cash          |      |     374,268 |     194,495 |     451,855 | 
| equivalents            |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Total current assets   |      |     889,507 |   1,756,620 |     967,094 | 
+------------------------+------+-------------+-------------+-------------+ 
|                        |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Total Assets           |      |     889,507 |   4,139,310 |     967,094 | 
+------------------------+------+-------------+-------------+-------------+ 
|                        |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Equity and liabilities        |             |             |             | 
| attributable to equity        |             |             |             | 
| holders of the Company        |             |             |             | 
+-------------------------------+-------------+-------------+-------------+ 
| Share capital and      |      |             |             |             | 
| reserves               |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Issued capital         |   5  |   3,327,684 |   3,327,684 |   3,327,684 | 
+------------------------+------+-------------+-------------+-------------+ 
| Share premium account  |      |   1,145,899 |   1,145,899 |   1,145,899 | 
+------------------------+------+-------------+-------------+-------------+ 
| Reserves               |      | (3,609,141) |   (391,224) | (3,540,407) | 
+------------------------+------+-------------+-------------+-------------+ 
| Total Equity           |      |     864,442 |   4,082,359 |     933,176 | 
+------------------------+------+-------------+-------------+-------------+ 
|                        |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Current liabilities    |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Trade and other        |      |      25,065 |      56,951 |      33,918 | 
| payables               |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Total current          |      |      25,065 |      56,951 |      33,918 | 
| liabilities            |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
|                        |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Total Equity and       |      |     889,507 |   4,139,310 |     967,094 | 
| Liabilities            |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
 
 
 
 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
|                                    Ricmore Capital Plc                                      | 
+---------------------------------------------------------------------------------------------+ 
|                               Statement in Changes in Equity                                | 
+---------------------------------------------------------------------------------------------+ 
|                      for the six month period ended 30 September 2009                       | 
+---------------------------------------------------------------------------------------------+ 
|                              |          |           |           |             |             | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
|                              |          |  Share    |  Share    |  Retained   |             | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
|                              |          |  Capital  |  Premium  |  Earnings   |    Total    | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
|                              |          |    GBP    |    GBP    |    GBP      |    GBP      | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
| Balance at 1 April 2009      |          | 3,327,684 | 1,145,899 | (3,540,407) |     933,176 | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
| Total comprehensive income   |          |         - |         - |    (68,734) |    (68,734) | 
| attributable  to equity      |          |           |           |             |             | 
| shareholders                 |          |           |           |             |             | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
| Balance at 30 September 2009 |          | 3,327,684 | 1,145,899 | (3,609,141) |     864,442 | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
|                              |          |           |           |             |             | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
| Balance at 1 January 2008    |          | 2,787,684 | 1,163,929 |   (363,917) |   3,587,696 | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
| Total comprehensive income   |          |         - |         - |    (83,880) |    (83,880) | 
| attributable  to equity      |          |           |           |             |             | 
| shareholders                 |          |           |           |             |             | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
| Share based payments         |          |         - |         - |      56,573 |      56,573 | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
| Shares issued                |          |   540,000 |         - |           - |     540,000 | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
| Share issue costs            |          |         - |  (18,030) |          -  |    (18,030) | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
| Balance at 30 June 2008      |          | 3,327,684 | 1,145,899 |   (391,224) |   4,082,359 | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
|                              |          |           |           |             |             | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
| Balance at 1 January 2008    |          | 2,787,684 | 1,163,929 |   (363,917) |   3,587,696 | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
| Total comprehensive income   |          |         - |         - | (3,289,636) | (3,289,636) | 
| attributable  to equity      |          |           |           |             |             | 
| shareholders                 |          |           |           |             |             | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
| Share based payments         |          |         - |         - |     113,146 |     113,146 | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
| Shares issued                |          |   540,000 |         - |           - |     540,000 | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
| Share issue costs            |          |         - |  (18,030) |          -  |    (18,030) | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
| Balance at 31 March 2009     |          | 3,327,684 | 1,145,899 | (3,540,407) |     933,176 | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
|                              |          |           |           |             |             | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
 
+---------------------------------+------+--------------+-----------+-------------+ 
|                              Ricmore Capital Plc                                | 
+---------------------------------------------------------------------------------+ 
|                              Cash Flow Statement                                | 
+---------------------------------------------------------------------------------+ 
|                   for the six months ended 30 September 2009                    | 
+---------------------------------------------------------------------------------+ 
|                                 |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
|                                 |      | 30 September |   30 June |    31 March | 
+---------------------------------+------+--------------+-----------+-------------+ 
|                                 |      |         2009 |      2008 |        2009 | 
+---------------------------------+------+--------------+-----------+-------------+ 
|                                 |      |          GBP |       GBP |         GBP | 
+---------------------------------+------+--------------+-----------+-------------+ 
|                                 |      |    Unaudited | Unaudited |     Audited | 
+---------------------------------+------+--------------+-----------+-------------+ 
| Cash flows from operating       |      |              |           |             | 
| activities                      |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
| Operating loss for the year as  |      |     (69,606) |  (85,442) |   (377,582) | 
| per income statement            |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
| Share based payments            |      |            - |    56,573 |     113,146 | 
+---------------------------------+------+--------------+-----------+-------------+ 
|                                 |      |     (69,606) |  (28,869) |   (264,436) | 
+---------------------------------+------+--------------+-----------+-------------+ 
| Movements in working capital    |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
| Increase in trade and other     |      |            - | (327,043) |   (847,770) | 
| receivables                     |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
| Decrease in trade and other     |      |      (8,853) |     4,905 |    (18,128) | 
| payables                        |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
| Net cash generated from         |      |     (78,459) | (351,007) | (1,130,334) | 
| operations                      |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
|                                 |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
| Cash flows from financing       |      |              |           |             | 
| activities                      |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
| Net proceeds from issue of      |      |            - |   521,970 |     521,970 | 
| equity shares                   |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
| Net cash flows from financing   |      |            - |   521,970 |     521,970 | 
| activities                      |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
|                                 |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
| Cash flows from investing       |      |              |           |             | 
| activities                      |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
| Interest received               |      |          872 |     1,562 |      5,041  | 
+---------------------------------+------+--------------+-----------+-------------+ 
| Net proceeds of sale of         |      |            - |         - |  1,033,208  | 
| subsidiary                      |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
| Net cash flows from investing   |      |          872 |     1,562 |   1,038,249 | 
| activities                      |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
|                                 |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
| Net (decrease)/increase in cash |      |     (77,587) |   172,525 |     429,885 | 
| and cash equivalents            |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
|                                 |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
| Cash and cash equivalents at    |      |      451,855 |    21,970 |      21,970 | 
| the beginning of period         |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
|                                 |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
| Cash and cash equivalents at    |      |      374,268 |   194,495 |     451,855 | 
| end of period                   |      |              |           |             | 
+---------------------------------+------+--------------+-----------+-------------+ 
 
 
 
Notes to the unaudited financial statements 
 
1. Basis of Preparation 
 
The financial information contained in this half year financial report does not 
constitute statutory accounts as defined in section 434 of the Companies Act 
2006. The financial information for the half years ended 30 September 2009 and 
30 June 2008 has been neither audited nor reviewed by the auditors. 
 
The figures and financial information for the period ended 31 March 2009 are 
extracted from the latest published audited financial statements of the Company 
and do not constitute the statutory financial statements for that period. The 
audited financial statements for the period ended 31 March 2009 have been filed 
with the Registrar of Companies. The report of the independent auditors on those 
financial statements contained no qualification or statement under section 
498(2) or section 498(3) of the Companies Act 2006. 
 
The financial information has been prepared in accordance with the recognition 
and measurement criteria of International Financial Reporting Standards (IFRS) 
as adopted by the European Union and IFRIC interpretations. The financial 
information has been prepared under the historical cost convention. The 
statutory financial statements are prepared in accordance with IFRSs as adopted 
by the European Union. 
 
Except as described below, the Company has applied consistent accounting 
policies in preparing the interim financial statements for the six months ended 
30 September 2009, the comparative information for the six months ended 30 June 
2008, and the financial statements for the period ended 31 March 2009. 
 
The Company applies revised IAS 1 Presentation of Financial Statements, which 
became effective as of 1 January 2009. As a result, the Company presents in the 
statement of changes in equity all owner changes in equity, whereas all 
non-owner changes in equity are presented in the statement of comprehensive 
income. This standard is concerned with presentation only and does not have any 
impact on the results or net assets of the Company. Comparative information has 
been re-presented where applicable so that it also is in conformity with the 
revised standard. 
 
As permitted, the Company has chosen not to adopt IAS 34 "Interim Financial 
Statements" in preparing this interim financial information. 
 
2. Loss per share 
 
The loss per share has been calculated by dividing the loss after taxation of 
GBP68,734 by the weighted average number of Ordinary Shares in issue for the 
period of 332,768,383 (2008: 328,293,244). The diluted loss per share is the 
same as the basic loss per share as the options that were in existence have an 
anti-dilutive effect on the loss per share and therefore have not been taken 
into account. 
 
3. Dividend 
 
No dividend is recommended. 
 
4. Trade and other receivables 
 
Other receivables of GBP515,239 at 30 September 2009 represent deferred 
consideration arising on the sale of Energy Assets Limited and is receivable in 
December 2009. 
 
5. Share capital 
 
 
At 30 September 2009 the Company had 332,768,383 Ordinary shares of 1p each in 
issue. There have been no issues of shares during the period. 
 
6. Principal Risks and Uncertainties 
 
The Companys financial instruments comprise cash balances and debtors and 
creditors that arise directly from its operations The principal risks and 
uncertainties facing the Company relate to the activity of establishing, 
investing in or acquiring assets, businesses or companies in accordance with the 
Companys investment strategy. Despite the opportunities that arise, there is 
the risk that the Company may not find a suitable or profitable investment. A 
further risk is that the Company may not be able to raise the necessary funding 
for such an investment or, if necessary, for further working capital whilst 
investment opportunities are explored. 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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