RNS Number:5946J
Simons & Co Limited
03 April 2003


Simons & Co Limited
Preliminary Statement


Year ended 31 December 2002



CHAIRMAN'S STATEMENT

Directors Statement


The results for the year ended 31 December 2002 show that the policy adopted in
1998 of investing in publicly listed and unquoted companies to provide an
enhanced income continues to be reliable.  In spite of turbulent market
conditions the Company's portfolio of publicly listed and unquoted company
shares has performed satisfactorily.  While there has been little activity in
dealings in publicly listed shares the Company has acquired a further 100,000
ordinary shares in Wellington Market Company plc.



Dividends



The dividend of 3.75% net per share due to Preference shareholders for the
period to 30 June 2002 was paid on 1 July 2002 and the dividend of 3.75% net per
share due to Preference shareholders for the period to 31 December 2002 was paid
on 1 January 2003.  No additional dividend was declared.



No dividend was declared in respect of the Company's ordinary shares.






GM SIMON
Chairman




PROFIT AND LOSS ACCOUNT
for the year ended 31 December 2002

                                                       Note          2002                2001
                                                                      #                   #


Turnover - continuing operations                                     41,418              75,077


Net operating expenses
Administrative expenses                                              (18,216)            (16,772)


Operating profit - continuing operations                             23,202              58,305
Interest payable                                                     (48)                (118)



Profit on ordinary activities before taxation                        23,154              58,187
Tax on profit on ordinary activities                          1      2,771               (756)



Profit on ordinary activities after taxation                         25,925              57,431
Dividends (including non-equity interests)                    2      (11,775)            (11,250)


Retained profit for the year                                         14,150              46,181






SUMMARISED CONSOLIDATED CASH FLOW STATEMENT
for the year ended 31 December 2002


                                                                     2002                2001
                                                                      #                   #

Net cash inflow/(outflow) from operating activities                  75,439              (38,285)
Returns on investment and servicing of finance                       (11,298)            (11,368)
Taxation received                                                    3,579               542
Management of liquid resources                                       (2,673)             (3,743)


Increase/(decrease) in cash                                          65,047              (52,854)



SUMMARISED BALANCE SHEET
at 31 December 2002

                                                                       2002               2001
                                                                        #                  #
Fixed assets
Investments                                                            696,338            616,198

Current assets
Debtors due within one year                                            10,025             -
Investments                                                            17,814             28,123
Cash at bank and in hand                                               319,087            254,040


                                                                       346,926            282,163
Creditors: Amounts falling due within one year                         (206,151)          (435,143)


Net current assets/(liabilities)                                       140,775            (152,980)



Total assets less current liabilities                                  837,113            463,218

Creditors: Amounts falling due in more than one year                   (345,605)          -


Capital and reserves                                                   491,508            463,218


 
1.         TAXATION


            Taxation (credit)/charge for the year:
                                                                             2002                 2001
                                                                              #                    #
            UK Corporation tax:
            Current tax on income for the period at  30%
            (2001 : 30%)                                                      -                      190
            Adjustments in respect of prior periods                          (2,771)                 566

                                                                             (2,771)                 756



2.         DIVIDENDS


            The final dividend of 3.75% per share due to preference shareholders
was paid on 1 January 2003.



3.         PRELIMINARY STATEMENT


            This preliminary statement, which has been agreed with the auditors,
was approved by the Board on 3 April 2003.  It is not the company's statutory
accounts.  The statutory accounts for the year ended 31 December 2001 have been
delivered to the Registrar of Companies and received an audit report which was
unqualified and did not contain statements under s237 (2) or (3) of the
Companies Act 1985.  The statutory accounts for the year ended 31 December 2002
have not yet been approved, audited or filed.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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