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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Stavert Zig. | LSE:STZ | London | Ordinary Share | GB0008412651 | ORD STK 20P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1,500.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSTZ Annual Financial Report STAVERT ZIGOMALA PLC ANNUAL RESULTS FOR THE YEAR ENDING 31ST MAY 2011 Chairman's Statement Shareholders Funds have increased by GBP697,951 during the financial year ending 31st May 2011, equivalent to a rise of 14.03%. This compares with increases of 15.45% (FTSE100) 16.76% (FTSE All Share) and 19.80% (FTSE Small Cap) though the Directors believe that there is no realistically comparable index. We are required to present the Accounts so as to show Shareholders Funds in a way which exceeds the Directors perception of true net worth, because liability for deferred taxation (which would apply on the realisation of all portfolio investments) is not taken into account. Had the Accounts been prepared on a net worth basis then Shareholders Funds would have been shown as GBP4,861,663, an increase of 8.92%. Investment income is broadly the same as the previous year. The Directors do not anticipate any significant increase this year, whilst a number of companies have given encouraging increases this is counter balanced by the continued distressed distributions from the banking sector. The Directors have decided to recommend an unchanged final dividend of 36p per Ordinary Share, with total dividends for the year of 61p being at the same rate as last year. In consequence the dividends on the Deferred Stock are also recommended at the same rate as last year. Due to the considerable problems of the world economy, particularly debt problems in the USA and Euro Zone, the portfolio has decreased in value considerably since the year end and banking stocks in particular have been affected. Edward N. Cooper Chairman Income Statement Year Ended 31st May 2011 2011 2010 GBP GBP Income from Fixed Asset Investments 158,193 153,917 Administrative Expenses 46,001 41,166 Operating Profit 112,192 112,751 Interest Receivable and Similar Income 6,701 6,765 Profit on Disposal of Investments 23,086 25,540 Interest payable and Similar Charges (350) (354) Profit on Ordinary Activities before taxation 141,629 144,702 Tax on profit on Ordinary Activities 675 488 Profit for the Financial Year 140,954 144,214 Basic and diluted earnings per share (pence) Earnings per share (pence) Ordinary Units 47.2p 48.3p Earnings per share (pence) Deferred Units 38.9p 39.7p Statement of Comprehensive Income Year Ended 31st May 2011 2011 2010 GBP GBP Profit for the financial year 140,954 144,214 Other comprehensive income for the year Unrealised profit on investments 739,409 687,449 Total comprehensive income for the year attributable to the shareholders 880,363 831,663 Statement of Financial Position as at 31st May 2011 GBP GBP FIXED ASSETS Investments 5,135,618 4,430,375 CURRENT ASSETS Debtors 1,629 15,103 Cash at Bank 565,157 553,917 CREDITORS: Amount falling due within one year 30,741 25,683 TOTAL ASSETS LESS CURRENT LIABILITIES 5,671,663 4,973,712 CAPITAL AND RESERVES Called up share capital 46,000 46,000 Revaluation reserve 3,639,990 2,900,581 Other reserves 1,600,761 1,577,675 Retained earnings 384,912 449,456 SHAREHOLDERS FUNDS 5,671,663 4,973,712 Statement of Changes in Equity Year Ended 31st May 2011 Issued Revaluation Capital Investment Retained Total Shared Reserve Redemption Reserve Earnings Equity Capital Reserve GBP GBP GBP GBP GBP GBP Balance as at 46,000 2,213,132 2,959 1,549,176 513,194 4,324,461 1st June 2009 Changes in Equity Total comprehensive income for the year 687,449 144,214 831,663 Dividends recognised as Distributions to owners (182,412) (182,412) Realised gains transferred to Investment reserve 25,450 (25,450) ---- Balance as at 1st June 2010 46,000 2,900,581 2,959 1,574,716 449,456 4,973,712 Changes in Equity Total comprehensive income for the year 739,409 140,954 880,363 Dividends recognised as Distributions to owners (182,412) (182,412) Realised gains transferred to Investment reserve 23,086 (23,086) ---- Balance as at 31st May 2011 46,000 3,639,990 2,959 1,597,802 384,912 5,671,663 Statement of Cash Flows Year Ended 31st May 2011 2011 2010 GBP GBP Cash flows from operating activities Operating profit for the year 112,192 112,751 Decrease in debtors 13,474 9,816 (Decrease)/Increase in creditors 5,058 (50,206) Net cash from operating activities 130,724 72,361 Taxation (675) (488) Cash flows from investing activities Financial income 6,701 6,765 Acquisition of investments (16,000) (146,744) Proceeds of disposal of investments 73,252 28,539 Net cash used in investing activities 63,953 (111,440) Cash flows from financing activities Finance costs (350) (354) Equity dividends paid (182,412) (182,412) Net increase/(decrease) in cash and cash equivalents 11,240 (222,333) Cash and cash equivalents at 1 June 553,917 776,250 Cash and cash equivalents at 31 May 565,157 553,917 The preliminary announcement for the year ended 31 May 2011 has been prepared in accordance with the accounting policies as disclosed in Stavert Zigomala plc's Annual Report and Accounts 2010, as updated to take effect of any new accounting standards applicable for the year. The annual financial information presented in this preliminary announcement for the year ended 31 May 2011 is based on, and is consistent with, that in the audited financial statements for the year ended 31 May 2011, and those financial statements will be delivered to the Registrar of Companies following the Company's Annual General Meeting. Information in this preliminary announcement does not constitute statutory accounts of the Company within the meaning of section 434 of the Companies Act 2006. The full financial statements for the Company for the year ended 31 May 2010 have been delivered to the Registrar of Companies. The independent auditor's report on those financial statements was unqualified and did not contain a statement under section 498 (2) or 498 (3) of the Companies Act 2006. This preliminary announcement was approved by the Board of Directors on 27th September 2011. Ex dividend date 19th October 2011 Record date 21st October 2011 Dividend payment date 7th November 2011 Stavert Zigomala Plc - Registered in England No. 194028 Registered Office - PO Box 233 Manchester M60 1QP Registrars - Hague Lambert, Artillery House, 15 Byrom Street, Manchester M3 4PF Stavert Zigomala
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