GUS Gusbourne Plc

TIDMSHLP

RNS Number : 2954J

Shellproof Limited

28 June 2011

Shellproof Limited announces results for the year ended 31 March 2011

Belize City, Belize, 28 June 2011 - Shellproof Limited (London-AIM: SHLP) ("Shellproof" or the "Company") reported a net profit of LIR104,000 for the year ended 31 March 2011 (2010 - LIR105,000). Basic and diluted earnings per ordinary share for the year ended 31 March 2011 amounted to 1.30 pence (2010 - 1.31 pence).

The Company continues its search for investment opportunities in line with its stated strategy which includes possible investment in either one or more quoted or unquoted businesses that may have been set up by entrepreneurs with good strategic plans and need financial backing and the support of the experienced Shellproof management team.

Further details are set out in the Company's AIM Admission document dated 25 April 2008 and on the Company's web site.

For further information contact:

Shellproof Limited

Belize +501 223 5989

UK +44 (0)20 7248 6700

Note: This and other press releases are available at the Company's web site: http://www.shellprooflimited.com.

Income statement

 
 Year ended 31 March                2011       2010 
                                UKLIR000   UKLIR000 
-----------------------------  ---------  --------- 
 
 Administrative expenses            (65)       (56) 
-----------------------------  ---------  --------- 
 
 Operating loss                     (65)       (56) 
 
 Financial income                    169        161 
-----------------------------  ---------  --------- 
 
 Profit before taxation              104        105 
 
 Taxation                              -          - 
-----------------------------  ---------  --------- 
 
 Net profit for the year             104        105 
-----------------------------  ---------  --------- 
 
 Earnings per ordinary share 
 Basic (pence)                      1.30       1.31 
-----------------------------  ---------  --------- 
 

Balance sheet

 
 At 31 March                       2011       2010 
                               UKLIR000   UKLIR000 
----------------------------  ---------  --------- 
 Assets 
 Current assets 
 Cash and cash equivalents        4,257      4,156 
 Other receivables                   19         19 
----------------------------  ---------  --------- 
                                  4,276      4,175 
 Liabilities 
 Current liabilities 
 Other payables                    (14)       (17) 
 
 Net current assets               4,262      4,158 
----------------------------  ---------  --------- 
 
 Net assets                       4,262      4,158 
----------------------------  ---------  --------- 
 
 Shareholders' equity 
 Called up share capital          4,000      4,000 
 Retained earnings                  262        158 
----------------------------  ---------  --------- 
 
 Total shareholders' equity       4,262      4,158 
----------------------------  ---------  --------- 
 
 
              Statement of cash flows 
   Year ended 31 March             2011       2010 
                               UKLIR000   UKLIR000 
  --------------------------  ---------  --------- 
 
              Cash flows from operating 
                      activities 
   Cash used in operations         (68)       (82) 
   Interest received                169        161 
  --------------------------  ---------  --------- 
 
               Net cash generated from 
    operating activities            101         79 
  --------------------------  ---------  --------- 
              Net increase in cash and 
    cash equivalents                101         79 
 
              Cash and cash equivalents 
    at beginning of year          4,156      4,077 
  --------------------------  ---------  --------- 
 
              Cash and cash equivalents 
    at end of year                4,257      4,156 
  --------------------------  ---------  --------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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