- Diluted (12.1p) 0.6p
========== =========
All of the activities of the group are classed as continuing.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
30 September 30 September
2010 2009
Note GBP'000 GBP'000
ASSETS
Non-current assets
Property, plant and equipment 253 336
Available for sale financial
assets 7 - 249
Goodwill 5 2,922 11,018
Intangible assets 6 515 4,455
Loans and receivables - 1,888
3,690 17,946
============ ============
Current assets
Inventories 548 2,484
Trade and other receivables 2,639 6,753
Cash and cash equivalents 2,850 4,514
6,037 13,751
Total assets 9,727 31,697
============ ============
LIABILITIES
Non-current liabilities
Deferred taxation - 301
Current liabilities
Trade and other payables 1,952 4,230
Borrowings - 8
Corporation tax 437 575
2,389 4,813
Total liabilities 2,389 5,114
============ ============
EQUITY
Share capital 1,674 1,400
Shares to be issued - 4,018
Reserves 5,664 21,165
Equity interests attributable
to equity holders of the company 7,338 26,583
Total equity and total liabilities 9,727 31,697
============ ============
The financial statements were approved by the Board of Directors
on 04 February 2011.
Stephen Green
Director
Hayden Eastwood
Director
CONSOLIDATED STATEMENT OF CASH FLOWS
AT 30 SEPTEMBER 2010
Year ended Year ended
30 September 30 September
Notes 2010 2009
GBP'000 GBP'000
Operating activities
(Loss) / profit for the year (19,923) 1,002
Taxation (241) 132
Finance income (146) (160)
Loss on sale of property, plant
and equipment 53 -
Depreciation of property, plant
and equipment 193 336
Impairment of goodwill 8,390 109
Impairment of intangible assets 6,534 623
Amortisation of intangible assets 803 -
Impairment of available for sale
financial asset 883 -
Impairment of loan advanced to
supplier 2,167 -
Decrease in inventories 535 1,450
Decrease / (Increase) in trade
and other receivables 4,054 (2,460)
(Decrease) / Increase in trade
and other payables (2,370) 1,515
Share based payments 208 134
Foreign exchange (116) (350)
1,024 2,331
Taxation paid (210) (142)
Interest received 27 8
Net cash inflow/(outflow) from
operating activities 841 2,197
Investing activities
Purchase of property, plant and
equipment (141) (271)
Purchase of intangible assets (1,989) (2,280)
Purchase of subsidiary undertakings (58) (126)
Purchase of available for sale
financial assets (317) (178)
Net cash outflow from investing
activities (2,505) (2,855)
Financing activities
Issue of shares - 3,850
Expenses paid in connection with
share issues - (184)
Receipts from borrowings - 182
Net cash inflow from financing
activities - 3,848
Movement in cash and cash equivalents (1,664) 3,190
Cash and cash equivalents brought
forward 4,514 1,324
Cash and cash equivalents carried
forward 2,850 4,514
============= =============
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
AT 30 SEPTEMBER 2010
Shares Capital Foreign
Share Share to be redemption Other exchange *Retained Total
capital premium issued reserve reserves reserve earnings equity
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
At 1 October
2008 998 16,418 5,864 9,601 210 182 (13,761) 19,512
Issue of share
capital 402 5,972 - - - - - 6,374
Cost of issue
of share
capital - (183) - - - - - (183)
Deferred
consideration - - (1,846) - - - - (1,846)
Share based
payments - - - - - - 134 134
------- ------- ------- ---------- -------- -------- --------- --------
Transactions
with owners 402 5,789 (1,846) - - - 134 4,479
Profit for the
year - - - - - - 1,002 1,002
Foreign
exchange - - - - - 1,590 - 1,590
Total
comprehensive
income for
the year - - - - - 1,590 1,002 2,592
At 30
September
2009 1,400 22,207 4,018 9,601 210 1,772 (12,625) 26,583
Issue of share
capital 274 4,065 - - - - - 4,339
Cost of issue
of share
capital - (3) - - - - - (3)
Deferred
consideration - - (4,018) - - - - (4,018)
Share based
payments - - - - - - 208 208
Transactions
with owners 274 4,062 (4,018) - - - 208 526
Loss for the
year - - - - - - (19,923) (19,923)
Foreign
exchange - - - - - 152 - 152
Total
comprehensive
income for
the year - - - - - 152 (19,923) (19,771)
At 30
September
2010 1,674 26,269 - 9,601 210 1,924 (32,340) 7,338
======= ======= ======= ========== ======== ======== ========= ========
*Retained earnings include a share based payment reserve of GBP532,000 at 30 September 2010 (2009: GBP324,000).
NOTES
1 bAsis of preparation
The Group financial statements have been prepared under the
historical cost convention and in accordance with International
Financial Reporting Standards as adopted by the European Union
(IFRS). The Company's shares are listed on the AIM market of the
London Stock Exchange.
The principal accounting policies of the Group, which have been
applied consistently, are set out in the annual report and
financial statements.
Going concern
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