Second Interims for Nine Months to 31 Dec 2009

 

TIDMRCAP 
 
RNS Number : 2283F 
Ricmore Capital PLC 
08 January 2010 
 

 
 
For immediate release8 January 2010 
 
 
Ricmore Capital Plc 
( or the "Company") 
 
 
Unaudited Second Interim Results for the Nine Months Ended 31 December 2009 
 
 
Chairman's statement 
 
 
Introduction 
The Company is presenting an additional set of unaudited results for the nine 
months ended 31 December 2009.  Throughout this interim nine month period the 
Company has been an Investing Company under the AIM Rules. 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.  The key issue in this third quarter is that the 
Company has received the second tranche of deferred consideration arising out of 
the sale on Energy Assets Limited. The amount received was greater than that 
accrued for at 31 March 2009 and thus the extra funds received amounting to 
GBP75,714 are reported as a gain in these nine month accounts to 31 December 
2009 
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 nine months to 
December 2009. Comparative information reflects the fifteen month period to 31 
March 2009 and the first nine months of that extended financial period to 30 
September 2008. 
Financial Results 
In the 9 months to 31 December 2009 the Company made a loss after taxation of 
GBP31,636 (2008 - loss GBP97,725) representing a loss per share of 0.01p (2008 - 
loss 0.03p per share). 
Following receipt of the initial and deferred consideration arising from the 
sale of Energy Assets Limited in January 2009, and after subsequent operating 
costs paid, cash balances amounted to some GBP943,000 at the end of December 
2009. 
AIM 
The Company disposed of its principal trading entity on 9 January 2009. Under 
the AIM Rules, a company's securities are suspended from trading if it has 
failed to make an acquisition which constitutes a reverse takeover under Rule 14 
or has otherwise implemented its investing policy within 12 months of such an 
event. Accordingly the Company's securities will be suspended from trading from 
07.00 on Monday 11 January, 2010. 
 The Future 
Your board is seeking out a suitable acquisition following which it intends to 
apply for re-admission to trading on AIM. 
 
 
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 nine month period ended 31 December 2009             | 
+-------------------------------------------------------------------------+ 
|                         | Note |       Nine | Nine months |    15 Month | 
|                         |      |  months to |          to |   Period to | 
|                         |      |         31 |          30 |    31 March | 
|                         |      |   December |   September |        2009 | 
|                         |      |       2009 |        2008 |             | 
+-------------------------+------+------------+-------------+-------------+ 
|                         |      | Unaudited  |  Unaudited  |     Audited | 
+-------------------------+------+------------+-------------+-------------+ 
|                         |      |    GBP     |    GBP      |    GBP      | 
+-------------------------+------+------------+-------------+-------------+ 
| Revenue                 |      |          - |           - |           - | 
+-------------------------+------+------------+-------------+-------------+ 
| Cost of sales           |      |          - |           - |           - | 
+-------------------------+------+------------+-------------+-------------+ 
| Gross Profit            |      |          - |           - |           - | 
+-------------------------+------+------------+-------------+-------------+ 
|                         |      |            |             |             | 
+-------------------------+------+------------+-------------+-------------+ 
| Operating expenses      |      |  (108,550) |   (100,503) |   (377,582) | 
+-------------------------+------+------------+-------------+-------------+ 
| Operating loss          |      |  (108,550) |   (100,503) |   (377,582) | 
+-------------------------+------+------------+-------------+-------------+ 
|                         |      |            |             |             | 
+-------------------------+------+------------+-------------+-------------+ 
| Finance Income          |      |      1,200 |       2,778 |      5,041  | 
+-------------------------+------+------------+-------------+-------------+ 
| Profit/(loss) on        |      |     75,714 |           - | (2,917,095) | 
| disposal of subsidiary  |      |            |             |             | 
| undertakings            |      |            |             |             | 
+-------------------------+------+------------+-------------+-------------+ 
| Loss before taxation    |      |   (31,636) |    (97,725) | (3,289,636) | 
+-------------------------+------+------------+-------------+-------------+ 
| Taxation                |      |          - |           - |           - | 
+-------------------------+------+------------+-------------+-------------+ 
|                         |      |            |             |             | 
+-------------------------+------+------------+-------------+-------------+ 
| Loss after taxation     |      |   (31,636) |    (97,725) | (3,289,636) | 
+-------------------------+------+------------+-------------+-------------+ 
|                         |      |            |             |             | 
+-------------------------+------+------------+-------------+-------------+ 
| Total comprehensive     |      |   (31,636) |    (97,725) | (3,289,636) | 
| income attributable to  |      |            |             |             | 
| equity shareholders     |      |            |             |             | 
+-------------------------+------+------------+-------------+-------------+ 
|                         |      |            |             |             | 
+-------------------------+------+------------+-------------+-------------+ 
| Loss per share basic    |    2 |     (0.01) |      (0.03) |      (0.99) | 
| and diluted (p)         |      |            |             |             | 
+-------------------------+------+------------+-------------+-------------+ 
 
 
 
+------------------------+------+-------------+-------------+-------------+ 
|                          Ricmore Capital Plc                            | 
+-------------------------------------------------------------------------+ 
|                              Balance Sheet                              | 
+-------------------------------------------------------------------------+ 
|                         As at 31 December 2009                          | 
+-------------------------------------------------------------------------+ 
|                        |      |          31 |          30 |    31 March | 
|                        |      |    December |   September |             | 
+------------------------+------+-------------+-------------+-------------+ 
|                        |      |        2009 |        2008 |        2009 | 
+------------------------+------+-------------+-------------+-------------+ 
|                        |      |  Unaudited  |  Unaudited  |     Audited | 
+------------------------+------+-------------+-------------+-------------+ 
|                        |Note  |         GBP |         GBP |         GBP | 
+------------------------+------+-------------+-------------+-------------+ 
| Assets                 |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Non current assets     |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Investments            |      |           - |   2,382,690 |           - | 
+------------------------+------+-------------+-------------+-------------+ 
| Total non current      |      |           - |   2,382,690 |           - | 
| assets                 |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Current assets         |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Trade and other        |    4 |           - |   1,688,290 |     515,239 | 
| receivables            |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Cash and cash          |      |     943,118 |      91,706 |     451,855 | 
| equivalents            |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Total current assets   |      |     943,118 |   1,779,996 |     967,094 | 
+------------------------+------+-------------+-------------+-------------+ 
|                        |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Total Assets           |      |     943,118 |   4,162,686 |     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               |      | (3,572,043) |   (405,069) | (3,540,407) | 
+------------------------+------+-------------+-------------+-------------+ 
| Total Equity           |      |     901,540 |   4,068,514 |     933,176 | 
+------------------------+------+-------------+-------------+-------------+ 
|                        |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Current liabilities    |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Trade and other        |      |      41,578 |      94,172 |      33,918 | 
| payables               |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Total current          |      |      41,578 |      94,172 |      33,918 | 
| liabilities            |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
|                        |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
| Total Equity and       |      |     943,118 |   4,162,686 |     967,094 | 
| Liabilities            |      |             |             |             | 
+------------------------+------+-------------+-------------+-------------+ 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
|                                    Ricmore Capital Plc                                      | 
+---------------------------------------------------------------------------------------------+ 
|                               Statement in Changes in Equity                                | 
+---------------------------------------------------------------------------------------------+ 
|                      for the nine month period ended 31 December 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   |          |         - |         - |    (31,636) |    (31,636) | 
| attributable  to equity      |          |           |           |             |             | 
| shareholders                 |          |           |           |             |             | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
| Balance at 31 December 2009  |          | 3,327,684 | 1,145,899 | (3,572,043) |     901,540 | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
|                              |          |           |           |             |             | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
| Balance at 1 January 2008    |          | 2,787,684 | 1,163,929 |   (363,917) |   3,587,696 | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
| Total comprehensive income   |          |         - |         - |    (97,725) |    (97,725) | 
| 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 September 2008 |          | 3,327,684 | 1,145,899 |   (405,069) |   4,068,514 | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
|                              |          |           |           |             |             | 
+------------------------------+----------+-----------+-----------+-------------+-------------+ 
| 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 nine months ended 31 December 2009                    | 
+--------------------------------------------------------------------------------+ 
|                                 |      |             |           |             | 
+---------------------------------+------+-------------+-----------+-------------+ 
|                                 |      |         31  |        30 |         31  | 
|                                 |      |    December | September |       March | 
+---------------------------------+------+-------------+-----------+-------------+ 
|                                 |      |        2009 |      2008 |        2009 | 
+---------------------------------+------+-------------+-----------+-------------+ 
|                                 |      |         GBP |       GBP |         GBP | 
+---------------------------------+------+-------------+-----------+-------------+ 
|                                 |      |   Unaudited | Unaudited |     Audited | 
+---------------------------------+------+-------------+-----------+-------------+ 
| Cash flows from operating       |      |             |           |             | 
| activities                      |      |             |           |             | 
+---------------------------------+------+-------------+-----------+-------------+ 
| Operating loss for the year as  |      |   (108,550) | (100,503) |   (377,582) | 
| per income statement            |      |             |           |             | 
+---------------------------------+------+-------------+-----------+-------------+ 
| Share based payments            |      |           - |    56,573 |     113,146 | 
+---------------------------------+------+-------------+-----------+-------------+ 
|                                 |      |   (108,550) |  (43,930) |   (264,436) | 
+---------------------------------+------+-------------+-----------+-------------+ 
| Movements in working capital    |      |             |           |             | 
+---------------------------------+------+-------------+-----------+-------------+ 
| Increase in trade and other     |      |             | (453,207) |   (847,770) | 
| receivables                     |      |             |           |             | 
+---------------------------------+------+-------------+-----------+-------------+ 
| Decrease in trade and other     |      |       7,660 |    42,126 |    (18,128) | 
| payables                        |      |             |           |             | 
+---------------------------------+------+-------------+-----------+-------------+ 
| Net cash generated from         |      |   (100,890) | (455,011) | (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               |      |       1,200 |     2,778 |      5,041  | 
+---------------------------------+------+-------------+-----------+-------------+ 
| Net proceeds of sale of         |      |     590,953 |         - |  1,033,208  | 
| subsidiary                      |      |             |           |             | 
+---------------------------------+------+-------------+-----------+-------------+ 
| Net cash flows from investing   |      |     592,153 |     2,778 |   1,038,249 | 
| activities                      |      |             |           |             | 
+---------------------------------+------+-------------+-----------+-------------+ 
|                                 |      |             |           |             | 
+---------------------------------+------+-------------+-----------+-------------+ 
| Net (decrease)/increase in cash |      |     491,263 |    69,737 |     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    |      |     943,118 |    91,707 |     451,855 | 
| end of period                   |      |             |           |             | 
+---------------------------------+------+-------------+-----------+-------------+ 
 
 
  Notes to the unaudited financial statements 
 
1.    Basis of Preparation 
 
The financial information contained in this interim financial report does not 
constitute statutory accounts as defined in section 434 of the Companies Act 
2006. The financial information for the nine month periods to 31 December 2009 
and 30 September 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 nine months ended 
31 December 2009, the comparative information for the nine months ended 30 
September 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 
GBP31,636 by the weighted average number of Ordinary Shares in issue for the 
period of 332,768,383 (2008: 329,603,548). 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 31 March 2009 represented deferred 
consideration arising on the sale of Energy Assets Limited which has 
subsequently been received. 
 
5.   Share capital 
 
 
 
 
At 31 December 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 Company's 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 
Company's 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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