+------------------------------+----------------+---------+---------+---------+---------+---------+----------+----------+
| | Share | Share | Other | Equity | Hedging | Retained | Total |
| | capital | premium | reserve | reserve | reserve | earnings | GBP'000 |
| | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 | |
+-----------------------------------------------+---------+---------+---------+---------+---------+----------+----------+
| | | | | | | | |
+-----------------------------------------------+---------+---------+---------+---------+---------+----------+----------+
| At | 3,220 | 13,649 | 4,081 | 33 | - | (52) | 20,931 |
| 1 | | | | | | | |
| October | | | | | | | |
| 2006 | | | | | | | |
+-----------------------------------------------+---------+---------+---------+---------+---------+----------+----------+
| | Net profit for | - | - | - | - | - | 757 | 757 |
| | year | | | | | | | |
+------------------------------+----------------+---------+---------+---------+---------+---------+----------+----------+
| | Change in fair | - | - | - | - | 86 | - | 86 |
| | value of | | | | | | | |
| | interest rate | | | | | | | |
| | swap | | | | | | | |
+------------------------------+----------------+---------+---------+---------+---------+---------+----------+----------+
| | Tax on items | - | - | - | - | (24) | - | (24) |
| | taken to | | | | | | | |
| | equity | | | | | | | |
+------------------------------+----------------+---------+---------+---------+---------+---------+----------+----------+
| Total | - | - | - | - | 62 | 757 | 819 |
| recognised | | | | | | | |
| profit for | | | | | | | |
| the period | | | | | | | |
+-----------------------------------------------+---------+---------+---------+---------+---------+----------+----------+
| Shares | 848 | - | 11,152 | - | - | - | 12,000 |
| issued | | | | | | | |
+-----------------------------------------------+---------+---------+---------+---------+---------+----------+----------+
| Share | - | - | - | 335 | - | - | 335 |
| based | | | | | | | |
| payment | | | | | | | |
| charge | | | | | | | |
| including | | | | | | | |
| tax | | | | | | | |
+-----------------------------------------------+---------+---------+---------+---------+---------+----------+----------+
| | | | | | | | |
+-----------------------------------------------+---------+---------+---------+---------+---------+----------+----------+
| At | 4,068 | 13,649 | 15,233 | 368 | 62 | 705 | 34,085 |
| 1 | | | | | | | |
| October | | | | | | | |
| 2007 | | | | | | | |
+-----------------------------------------------+---------+---------+---------+---------+---------+----------+----------+
| | Net profit for | - | - | - | - | - | (16,573) | (16,573) |
| | year | | | | | | | |
+------------------------------+----------------+---------+---------+---------+---------+---------+----------+----------+
| | Change in fair | - | - | - | - | (127) | - | (127) |
| | value of | | | | | | | |
| | interest rate | | | | | | | |
| | swap | | | | | | | |
+------------------------------+----------------+---------+---------+---------+---------+---------+----------+----------+
| | Tax on items | - | - | - | - | 35 | - | 35 |
| | taken to | | | | | | | |
| | equity | | | | | | | |
+------------------------------+----------------+---------+---------+---------+---------+---------+----------+----------+
| | Total | - | - | - | - | (92) | (16,573) | (16,665) |
| | recognised | | | | | | | |
| | loss for the | | | | | | | |
| | year | | | | | | | |
+------------------------------+----------------+---------+---------+---------+---------+---------+----------+----------+
| Shares | 97 | - | 1,402 | - | - | - | 1,499 |
| issued | | | | | | | |
+-----------------------------------------------+---------+---------+---------+---------+---------+----------+----------+
| Share | - | - | - | 43 | - | - | 43 |
| based | | | | | | | |
| payment | | | | | | | |
| charge | | | | | | | |
| including | | | | | | | |
| tax | | | | | | | |
+-----------------------------------------------+---------+---------+---------+---------+---------+----------+----------+
| | | | | | | | |
+-----------------------------------------------+---------+---------+---------+---------+---------+----------+----------+
| Balance as at 30 | 4,165 | 13,649 | 16,635 | 411 | (30) | (15,868) | 18,962 |
| September 2008 | | | | | | | |
+-----------------------------------------------+---------+---------+---------+---------+---------+----------+----------+
| | | | | | | | |
+------------------------------+----------------+---------+---------+---------+---------+---------+----------+----------+
Other reserves are not distributable and relate to the premium arising on:
(i) Shares issued as consideration for the acquisition of subsidiary companies;
and
(ii) Warrants issued to Marwyn Neptune Fund LP in consideration for the
participation in placing of shares on 19 July 2006.
26. Capital and other commitments
At 30 September 2008, the Group and the company had no capital commitments (2007
- nil).
Operating leases
The Group's total commitments under non-cancellable operating leases at 30
September are as follows:
+------------------------------------------+-----------+---------+-----------+---------+
| | 2008 | 2007 |
+------------------------------------------+---------------------+---------------------+
| | Land | Other | Land | Other |
| | and | GBP'000 | and | GBP'000 |
| | buildings | | buildings | |
| | GBP'000 | | GBP'000 | |
+------------------------------------------+-----------+---------+-----------+---------+
| Operating | | | | |
| leases which | | | | |
| expire: | | | | |
+------------------------------------------+-----------+---------+-----------+---------+
| Within one | 216 | 647 | 198 | 484 |
| year | | | | |
+------------------------------------------+-----------+---------+-----------+---------+
| Within two | 470 | 893 | 578 | 935 |
| to five | | | | |
| years | | | | |
+------------------------------------------+-----------+---------+-----------+---------+
| After five | 271 | - | 370 | 23 |
| years | | | | |
+------------------------------------------+-----------+---------+-----------+---------+
| | | | | |
+------------------------------------------+-----------+---------+-----------+---------+
| | 957 | 1,540 | 1,146 | 1,442 |
+------------------------------------------+-----------+---------+-----------+---------+
| | | | | |
+------------------------------------------+-----------+---------+-----------+---------+
27. Employee share schemes
The company has adopted the following share incentive arrangement plans:
Equity-settled share option scheme
The company has a share option scheme for certain employees of the Group.
Options are exercisable at a price equal to the average quoted market price of
the company's shares on the date of grant. The vesting period is three years. If
the options remain unexercised after a period of five years from the date of
grant, the options expire. Options are forfeited if the employee leaves the
Group before the options vest.
Details of the share options outstanding during the year are as follows:
+------------------------------------------+-----------+----------+-----------+----------+
| | | 2007 |
+------------------------------------------+----------------------+----------------------+
| | Number | Weighted | Number | Weighted |
| | of | average | of | average |
| | share | exercise | share | exercise |
| | options | price | options | price |
| | | GBP | | GBP |
+------------------------------------------+-----------+----------+-----------+----------+
| | | | | |
+------------------------------------------+-----------+----------+-----------+----------+
| Outstanding | 3,606,552 | 0.953 | 2,762,592 | 0.805 |
| at beginning | | | | |
| of year | | | | |
+------------------------------------------+-----------+----------+-----------+----------+
| Granted | 450,000 | 1.500 | 915,000 | 1.388 |
| during the | | | | |
| year | | | | |
+------------------------------------------+-----------+----------+-----------+----------+
| Forfeited | (446,080) | (0.893) | (71,040) | (0.805) |
| during the | | | | |
| year | | | | |
+------------------------------------------+-----------+----------+-----------+----------+
| | | | | |
+------------------------------------------+-----------+----------+-----------+----------+
| Outstanding | 3,610,472 | 1.028 | 3,606,552 | 0.953 |
| at the end | | | | |
| of the year | | | | |
+------------------------------------------+-----------+----------+-----------+----------+
| | | | | |
+------------------------------------------+-----------+----------+-----------+----------+
| Exercisable | - | - | - | - |
| at the end | | | | |
| of the year | | | | |
+------------------------------------------+-----------+----------+-----------+----------+
| | | | | |
+------------------------------------------+-----------+----------+-----------+----------+
The options outstanding at 30 September 2008 had a weighted average remaining
contractual life of 5.14 years (2007: 6.01 years). In 2008, options over 450,000
shares were granted on 3 October 2007. The aggregate of the estimated fair
values of the options granted on that date is GBP0.1m. In 2007, options were
granted on 4 January 2007, 12 June 2007 and 25 September 2007. The aggregate of
the estimated fair values of the options granted on those dates is GBP1.27m.
The inputs into the Black-Scholes Option Pricing Model are as follows:
+------------------------------------------+----------+----------+----------+----------+
| | | | GBP'000 | 2007 |
| | | | | GBP'000 |
+------------------------------------------+----------+----------+----------+----------+
| | | | | |
+------------------------------------------+----------+----------+----------+----------+
| Weighted | | | 103p | 95p |
| average | | | | |
| share price | | | | |
+------------------------------------------+----------+----------+----------+----------+
| Weighted | | | 103p | 95p |
| average | | | | |
| exercise | | | | |
| price | | | | |
+------------------------------------------+----------+----------+----------+----------+
| Expected | | | 21.01 | 21.04 |
| volatility | | | | |
+------------------------------------------+----------+----------+----------+----------+
| Expected | | | 3 years | 3 years |
| life | | | | |
+------------------------------------------+----------+----------+----------+----------+
| Risk-free | | | 5.14% | 5.22% |
| rate | | | | |
+------------------------------------------+----------+----------+----------+----------+
| Expected | | | Nil% | Nil% |
| dividend | | | | |
| yield | | | | |
+------------------------------------------+----------+----------+----------+----------+
| | | | | |
+------------------------------------------+----------+----------+----------+----------+
Expected volatility was determined by calculating the historical volatility of
the Group's share price over the previous 1.5 years. The expected life used in
the model has been adjusted, based on management's best estimate, for the
effects of non-transferability, exercise restrictions, and behavioural
considerations. The risk free rate of return is the yield on zero coupon UK
government bonds with a term similar to the expected life of the option.
28. Contingent liabilities
There are Group cross guarantees from the company for all monies due to certain
of the Group's banks and surety lenders. No monies were outstanding at 30
September 2008 (2007: GBPnil). In the normal course of business there are
contingent liabilities including the provision of bonds in respect of completed
and uncompleted contracts.
29. Related party transactions
During the year to 30 September 2008, the Group paid GBP261,000 (2007:
GBP641,000) to Marwyn Capital LLP for corporate finance services and directors'
fees and GBP60,000 (2007: GBP6,000) to Marwyn Partners Limited for office
services.
David Williams and Mark Watts are partners in Marwyn Capital LLP and Marwyn
Investment Management LLP and shareholders in Marwyn Investments Group Limited,
which owns 100% of Marwyn Partners Limited. Marwyn Neptune Fund LP is managed by
Marwyn Investment Management LLP and beneficially owns shares and warrants in
the Group.
During the year to 30 September 2008, Kalistar LLP, a partnership of certain the
executive directors of Silverdell (UK) Ltd, charged GBP39,000 (2007: GBP36,000)
for the provision of cars used by some of the directors of Silverdell (UK) Ltd.
At the end of the year, GBPnil (2007: GBPnil) remained outstanding.
One property occupied by Silverdell (UK) Limited is owned by the pension fund in
which Danny Spicer and Sean Nutley have an interest. The property is subject to
a market rent of GBP29,000 (2007: GBP18,000) paid during the year.
30. Acquisition of subsidiaries
On 1 October 2007 the Group acquired 100% of the issued share capital of Swift
Asbestos Holdings Limited ("Swift"), for a fair value consideration including
expenses of GBP1,905,000 satisfied by cash of GBP1,738,000 and deferred
consideration of GBP167,000 (subject to the outcome of a completion accounts
mechanism). The aggregate net assets acquired and their fair values, based on
the board's initial assessment of net realisable value, are detailed below.
The following table sets out the book values of the identifiable assets and
liabilities acquired and their fair value to the Group:
+-----------------------------------------+----------+--------------+---------+---------+
| | Book | Revaluations | Other | Fair |
| | value | GBP'000 | items | value |
| | GBP'000 | | GBP'000 | GBP'000 |
+-----------------------------------------+----------+--------------+---------+---------+
| Non-current | | | | |
| assets | | | | |
+-----------------------------------------+----------+--------------+---------+---------+
| Tangible | 407 | 143 | - | 550 |
+-----------------------------------------+----------+--------------+---------+---------+
| Current | | | | |
| assets | | | | |
+-----------------------------------------+----------+--------------+---------+---------+
| Inventories | 29 | - | - | 29 |
| and work in | | | | |
| progress | | | | |
+-----------------------------------------+----------+--------------+---------+---------+
| Trade and | 212 | - | (1) | 211 |
| other | | | | |
| receivables | | | | |
+-----------------------------------------+----------+--------------+---------+---------+
| Cash and | 373 | - | (1) | 372 |
| cash | | | | |
| equivalents | | | | |
+-----------------------------------------+----------+--------------+---------+---------+
| | | | | |
+-----------------------------------------+----------+--------------+---------+---------+
| Total | 1,021 | 143 | (2) | 1,162 |
| assets | | | | |
+-----------------------------------------+----------+--------------+---------+---------+
| | | | | |
+-----------------------------------------+----------+--------------+---------+---------+
| Creditors | | | | |
+-----------------------------------------+----------+--------------+---------+---------+
| Obligations | (40) | - | - | (40) |
| under | | | | |
| finance | | | | |
| leases | | | | |
+-----------------------------------------+----------+--------------+---------+---------+
| Trade and | (180) | - | 9 | (171) |
| other | | | | |
| payables | | | | |
+-----------------------------------------+----------+--------------+---------+---------+
| Deferred | (13) | - | (17) | (30) |
| tax | | | | |
| liability | | | | |
+-----------------------------------------+----------+--------------+---------+---------+
| | | | | |
+-----------------------------------------+----------+--------------+---------+---------+
| Total | (233) | - | (8) | (241) |
| liabilities | | | | |
+-----------------------------------------+----------+--------------+---------+---------+
| | | | | |
+-----------------------------------------+----------+--------------+---------+---------+
| Net assets | 788 | 143 | (10) | 921 |
+-----------------------------------------+----------+--------------+---------+---------+
| | | | | |
+-----------------------------------------+----------+--------------+---------+---------+
+---------------------------------------------------+----------+----------+----------+
| | | | Total |
| | | | GBP'000 |
+---------------------------------------------------+----------+----------+----------+
| | | | |
+---------------------------------------------------+----------+----------+----------+
| Goodwill | | | 984 |
+---------------------------------------------------+----------+----------+----------+
| | | | |
+---------------------------------------------------+----------+----------+----------+
| Consideration | | | 1,905 |
+---------------------------------------------------+----------+----------+----------+
| | | | |
+---------------------------------------------------+----------+----------+----------+
| Satisfied by: | | | |
+---------------------------------------------------+----------+----------+----------+
| Cash | | | |
+---------------------------------------------------+----------+----------+----------+
| - expended during | | | 1,738 |
| year | | | |
+---------------------------------------------------+----------+----------+----------+
| - expended after | | | 167 |
| year-end | | | |
+---------------------------------------------------+----------+----------+----------+
| | | | |
+---------------------------------------------------+----------+----------+----------+
| | | | 1,905 |
+---------------------------------------------------+----------+----------+----------+
| | | | |
+---------------------------------------------------+----------+----------+----------+
| | | | GBP'000 |
+---------------------------------------------------+----------+----------+----------+
| Net cash outflows in | | | |
| respect of the | | | |
| acquisition | | | |
| comprised: | | | |
+---------------------------------------------------+----------+----------+----------+
| Cash consideration | | | 1,738 |
| expended during the | | | |
| year | | | |
+---------------------------------------------------+----------+----------+----------+
| Cash at bank and in | | | (372) |
| hand acquired | | | |
+---------------------------------------------------+----------+----------+----------+
| | | | |
+---------------------------------------------------+----------+----------+----------+
| | | | 1,366 |
+---------------------------------------------------+----------+----------+----------+
| | | | |
+---------------------------------------------------+----------+----------+----------+
The trade, assets and liabilities of Swift were transferred to Silverdell (UK)
Limited immediately following the Company's acquisition by the Group, such that
it is not possible separately to identify the contribution to revenue and
operating loss made by Swift between the date of acquisition and the balance
sheet date. Neither is it possible to determine the impact on Group revenues and
operating loss for the period if the acquisition of Swift had been completed on
the first day of the financial year.
31. Subsequent events
Subsequent to the year end, the Group concluded its discussions with lenders for
revised facilities including the re-structuring of existing facilities,
re-profiled repayment and revised covenants (see note 2).
32. Transition to IFRS
For all periods up to and including the year to 30 September 2007 the Group has
prepared its financial statements in accordance with UK generally accepted
accounting practice (UK GAAP). For the year to 30 September 2008 the Group is
required to prepare consolidated financial statements in accordance with
International Financial Reporting Standards (IFRS) as adopted by the European
Union.
The Group's transition date to IFRS is 1 October 2006. This has been determined
in accordance with IFRS 1 "First Time Adoption of International Financial
Reporting Standards", being the start of the earliest period of comparative
information.
To explain the change to IFRS, a reconciliation has been provided of the equity
at 1 October 2006 and 30 September 2007 and the net income for the year to 30
September 2007 from the previously published consolidated financial statements,
prepared in accordance with UK GAAP to the accompanying consolidated financial
statements prepared in accordance with IFRS. An explanation of the principal
adjustments required by the Group on conversion to IFRS is set out below.
None of the IFRS adjustments relevant to the Group relate to cash and therefore
there is no impact on cash flows. IAS 7 "Cash Flow Statements" changes the
definition of cash used in the cash flow statement to cash and cash equivalents.
The UK GAAP figures have been restated to take account of any presentational
changes required by IFRS adoption, where for instance items are required to be
shown on the face of the primary statements rather than in the notes and where
existing items are now split current/non-current or shown on different lines
(e.g. intangible asset).
Effects of transition to IFRS
IAS 36 and IAS 38: Intangible assets
IFRS 3 requires recognition of separately identifiable intangible assets. These
intangible assets are amortised over their expected useful lives. Previously
under UK GAAP, these intangibles would have been classified as goodwill and
amortised over their useful lives (typically between 10 and 20 years).
The Group has applied IAS 38 Intangible Assets to acquisitions, which has
resulted in the recognition of customer relationships and order backlog
intangible assets. These intangible assets would not have qualified for
recognition under UK GAAP. These are being amortised over one to three years.
IFRS 3: Business combinations and Goodwill
Under UK GAAP goodwill was amortised on a straight line basis over its economic
useful life of up to 20 years, tested for impairment and provided for as
necessary. Under IFRS 3 "Business Combinations", goodwill is no longer amortised
but is carried and subject to annual review for impairment. Accordingly the
goodwill amortisation charged of GBP1,391,000 in the year to 30 September 2007
has been reversed.
A full impairment review of the carrying value of goodwill is required at the
date of transition (1 October 2006) and any impairment losses treated as a
reduction in retained earnings. Goodwill impairment losses may not be reversed.
Effects of transition to IFRS on the opening balance sheet at 1 October 2006
Opening IFRS balance sheet as at 1 October 2006 - effect of IAS1 'Presentation
of Financial Statements'
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| | UK | GBP'000 | | | UK | | |
| | GAAP | | | | GAAP | | |
| | balances | | | | balances | | |
| | in UK | | | | in IFRS | | |
| | GAAP | | | | format | | |
| | format | | | | GBP'000 | | |
| | GBP'000 | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Fixed | | | | | | | Non-current |
| assets | | | | | | | assets |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Intangible | 19,539 | - | | | 19,539 | | Goodwill |
| assets | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Tangible | 1,014 | - | | | 1,014 | | Property, |
| assets | | | | | | | plant and |
| | | | | | | | equipment |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| | - | 1,001 | | | 1,001 | | Trade and |
| | | | | | | | other |
| | | | | | | | receivables |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Current | | | | | | | Current |
| assets | | | | | | | assets |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Stocks | 1,445 | - | | | 1,445 | | Inventory |
| and | | | | | | | and work |
| work | | | | | | | in |
| in | | | | | | | progress |
| progress | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Debtors | 7,335 | (1,001) | | | 6,335 | | Trade and |
| | | | | | | | other |
| | | | | | | | receivables |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Cash | 3,300 | - | | | 3,300 | | Cash and |
| at | | | | | | | cash |
| bank | | | | | | | equivalents |
| and in | | | | | | | |
| hand | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Creditors: | | | | | | | Current |
| amounts | | | | | | | liabilities |
| falling | | | | | | | |
| due within | | | | | | | |
| one year | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Bank | (886) | - | | | (886) | | Bank |
| overdraft | | | | | | | overdraft |
| | | | | | | | and |
| | | | | | | | borrowings |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Hire | (140) | - | | | (140) | | Obligations |
| purchase | | | | | | | under |
| and | | | | | | | finance |
| finance | | | | | | | lease |
| lease | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Corporation | (232) | - | | | ( 232) | | Current |
| tax | | | | | | | tax |
| | | | | | | | liabilities |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Other | (3,834) | - | | | (3,834) | | Trade and |
| creditors | | | | | | | other |
| | | | | | | | payables |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Creditors: | | | | | | | Non-current |
| amounts | | | | | | | liabilities |
| falling | | | | | | | |
| due after | | | | | | | |
| more than | | | | | | | |
| one year | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Hire | (336) | - | | | (336) | | Obligations |
| purchase | | | | | | | under |
| and | | | | | | | finance |
| finance | | | | | | | lease |
| lease | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| | | (61) | | | (61) | | Deferred |
| | | | | | | | tax |
| | | | | | | | liabilities |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| | | (5,206) | | | (5,206) | | Deferred |
| | | | | | | | consideration |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| | | (1,001) | | | (1,001) | | Trade and |
| | | | | | | | other |
| | | | | | | | payables |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Provisions | | | | | | | |
| for | | | | | | | |
| liabilities | | | | | | | |
| and charges | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Deferred | (61) | 61 | | | - | | |
| taxation | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Deferred | (5,206) | 5,206 | | | - | | |
| consideration | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Other | (1,001) | 1,001 | | | - | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Net | 20,938 | - | | | 20,938 | | Net |
| assets | | | | | | | assets |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Capital | | | | | | | Equity |
| and | | | | | | | |
| reserves | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Called | 3,220 | - | | | 3,220 | | Share |
| up | | | | | | | capital |
| share | | | | | | | |
| capital | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Share | 13,649 | - | | | 13,649 | | Share |
| premium | | | | | | | premium |
| account | | | | | | | account |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Equity | 28 | - | | | 28 | | Equity |
| reserve | | | | | | | reserve |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Other | 4,081 | - | | | 4,081 | | Other |
| reserves | | | | | | | reserves |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Profit | (40) | - | | | (40) | | Accumulated |
| and | | | | | | | loss |
| loss | | | | | | | |
| account | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| Equity | 20,938 | - | | | 20,938 | | Total |
| shareholders' | | | | | | | equity |
| funds | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
| | | | | | | | |
+-----------------------------------------------+----------+-----------+-+-+-----------+-+----------------------+
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| | UK | IFRS2 | IAS38 | | IFRS3 | | IFRS |
| | GAAP | Share- | Intangible | | Business | | Balances |
| | balances | based | assets | | combinations | | GBP'000 |
| | in IFRS | payments | GBP'000 | | GBP'000 | | |
| | format | GBP'000 | | | | | |
| | GBP'000 | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Non-current | | | | | | | |
| assets | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Goodwill | 19,539 | - | (2,205) | | 191 | | 17,525 |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Intangible | - | - | 2,860 | | - | | 2,860 |
| assets | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Property, | 1,014 | - | - | | - | | 1,014 |
| plant and | | | | | | | |
| equipment | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Trade and | 1,001 | - | - | | - | | 1,001 |
| other | | | | | | | |
| receivables | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Current | | | | | | | |
| assets | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Inventory | 1,445 | - | - | | - | | 1,445 |
| and work | | | | | | | |
| in | | | | | | | |
| progress | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Trade and | 6,335 | - | - | | - | | 6,335 |
| other | | | | | | | |
| receivables | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Cash and | 3,300 | - | - | | - | | 3,300 |
| cash | | | | | | | |
| equivalents | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Total | 32,634 | - | 655 | | 191 | | 33,480 |
| assets | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Current | | | | | | | |
| liabilities | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Bank | (886) | - | - | | - | | (886) |
| overdrafts | | | | | | | |
| and | | | | | | | |
| borrowings | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Obligations | (140) | - | - | | - | | (140) |
| under | | | | | | | |
| finance | | | | | | | |
| lease | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Trade and | (3,834) | - | - | | - | | (3,834) |
| other | | | | | | | |
| payables | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Current | (232) | - | - | | - | | (232) |
| tax | | | | | | | |
| liabilities | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Non-current | | | | | | | |
| liabilities | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Obligations | (336) | - | - | | - | | (336) |
| under | | | | | | | |
| finance | | | | | | | |
| lease | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Trade and | (1,001) | - | - | | - | | (1,001) |
| other | | | | | | | |
| payables | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Deferred | (61) | 5 | (858) | | - | | (914) |
| taxation | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Deferred | (5,206) | - | - | | - | | (5,206) |
| consideration | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Total | (11,696) | 5 | (858) | | - | | (12,549) |
| liabilities | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Net assets | 20,938 | 5 | (203) | | 191 | | 20,931 |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Equity | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Share | 3,220 | - | - | | - | | 3,220 |
| capital | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Share | 13,649 | - | - | | - | | 13,649 |
| premium | | | | | | | |
| account | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Other | 4,081 | - | - | | - | | 4,081 |
| reserve | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Equity | 28 | 5 | - | | - | | 33 |
| reserve | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| (Accumulated | (40) | - | (203) | | 191 | | (52) |
| loss)/retained | | | | | | | |
| earnings | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| Total | 20,938 | 5 | (203) | | 191 | | 20,931 |
| equity | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
| | | | | | | | |
+--------------------------------------------+----------+----------+------------+-+--------------+-+----------+
Effects of transition to IFRS on the balance sheet at 30 September 2007
Balance sheet as at 30 September 2007 - reconciliation of UK GAAP to IFRS
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| | UK | GBP'000 | | | UK | | |
| | GAAP | | | | GAAP | | |
| | balances | | | | balances | | |
| | in UK | | | | in IFRS | | |
| | GAAP | | | | format | | |
| | format | | | | GBP'000 | | |
| | GBP'000 | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Fixed | | | | | | | Non-current |
| assets | | | | | | | assets |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Intangible | 40,523 | - | | | 40,523 | | Goodwill |
| assets | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Tangible | 2,480 | - | | | 2,480 | | Property, |
| assets | | | | | | | plant and |
| | | | | | | | equipment |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| | - | 1,001 | | | 1,001 | | Trade and |
| | | | | | | | other |
| | | | | | | | receivables |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Current | | | | | | | Current |
| assets | | | | | | | assets |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Stocks | 1,278 | - | | | 1,278 | | Inventory |
| and | | | | | | | and work |
| work | | | | | | | in |
| in | | | | | | | progress |
| progress | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Debtors | 17,135 | (1,001) | | | 16,134 | | Trade and |
| | | | | | | | other |
| | | | | | | | receivables |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Cash | 1,418 | - | | | 1,418 | | Cash and |
| at | | | | | | | cash |
| bank | | | | | | | equivalents |
| and in | | | | | | | |
| hand | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Creditors: | | | | | | | Current |
| amounts | | | | | | | liabilities |
| falling | | | | | | | |
| due within | | | | | | | |
| one year | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Bank | (2,150) | - | | | (2,150) | | Bank |
| loans | | | | | | | overdraft |
| | | | | | | | and |
| | | | | | | | borrowings |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Hire | (483) | - | | | (483) | | Obligations |
| purchase | | | | | | | under |
| and | | | | | | | finance |
| finance | | | | | | | lease |
| lease | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Corporation | (1,932) | - | | | (1,932) | | Current |
| tax | | | | | | | tax |
| | | | | | | | liabilities |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Deferred | (3,000) | - | | | (3,000) | | Deferred |
| consideration | | | | | | | consideration |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Other | (10,229) | - | | | (10,229) | | Trade and |
| creditors | | | | | | | other |
| | | | | | | | payables |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Creditors: | | | | | | | Non-current |
| amounts | | | | | | | liabilities |
| falling | | | | | | | |
| due after | | | | | | | |
| more than | | | | | | | |
| one year | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Bank | (6,850) | - | | | (6,850) | | Bank |
| loans | | | | | | | overdraft |
| | | | | | | | and |
| | | | | | | | borrowings |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Hire | (529) | - | | | (529) | | Obligations |
| purchase | | | | | | | under |
| and | | | | | | | finance |
| finance | | | | | | | lease |
| lease | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| | | (30) | | | ( 30) | | Deferred |
| | | | | | | | tax |
| | | | | | | | liabilities |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| | | (2,649) | | | (2,649) | | Deferred |
| | | | | | | | consideration |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| | | (1,001) | | | (1,001) | | Trade and |
| | | | | | | | other |
| | | | | | | | payables |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Provisions | | | | | | | |
| for | | | | | | | |
| liabilities | | | | | | | |
| and charges | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Deferred | (30) | 30 | | | - | | |
| taxation | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Deferred | (2,649) | 2,649 | | | - | | |
| consideration | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Other | (1,001) | 1,001 | | | - | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Net | 33,981 | - | | | 33,981 | | Net |
| assets | | | | | | | assets |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Capital | | | | | | | Equity |
| and | | | | | | | |
| reserves | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Called | 4,068 | - | | | 4,068 | | Share |
| up | | | | | | | capital |
| share | | | | | | | |
| capital | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Share | 13,649 | - | | | 13,649 | | Share |
| premium | | | | | | | premium |
| account | | | | | | | account |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Equity | 199 | - | | | 199 | | Equity |
| reserve | | | | | | | reserve |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Other | 15,233 | - | | | 15,233 | | Other |
| reserves | | | | | | | reserves |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Profit | 832 | - | | | 832 | | Retained |
| and | | | | | | | earnings |
| loss | | | | | | | |
| account | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| Equity | 33,981 | - | | | 33,981 | | Total |
| shareholders' | | | | | | | equity |
| funds | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
| | | | | | | | |
+-------------------------------------------+----------+---------+-+-+-----------+-+----------------------+
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| | UK | IFRS2 | IAS39 | IAS38 | IFRS3 | IFRS |
| | GAAP | Share- | Derivatives | Intangible | Business | Balances |
| | balances | based | GBP'000 | assets | combinations | GBP'000 |
| | in IFRS | payments | | GBP'000 | GBP'000 | |
| | format | GBP'000 | | | | |
| | GBP'000 | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Non-current | | | | | | |
| assets | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Goodwill | 40,523 | - | - | (4,978) | 1,582 | 37,127 |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Intangible | - | - | - | 4,494 | - | 4,494 |
| assets | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Property, | 2,480 | - | - | - | - | 2,480 |
| plant and | | | | | | |
| equipment | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Trade | 1,001 | - | - | - | - | 1,001 |
| and | | | | | | |
| other | | | | | | |
| receivables | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Current | | | | | | |
| assets | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Inventory | 1,278 | - | - | - | - | 1,278 |
| and work | | | | | | |
| in | | | | | | |
| progress | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Trade | 16,134 | - | - | - | - | 16,134 |
| and | | | | | | |
| other | | | | | | |
| receivables | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Other | - | - | 86 | - | - | 86 |
| financial | | | | | | |
| assets | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Cash | 1,418 | - | - | - | - | 1,418 |
| and | | | | | | |
| cash | | | | | | |
| equivalents | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Total | 62,834 | - | 86 | (484) | 1,582 | 64,018 |
| assets | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Current | | | | | | |
| liabilities | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Bank | (2,150) | - | - | - | - | (2,150) |
| overdrafts | | | | | | |
| and | | | | | | |
| borrowings | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Obligations | (483) | - | - | - | - | (483) |
| under | | | | | | |
| finance | | | | | | |
| lease | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Trade | (10,229) | - | - | - | - | (10,229) |
| and | | | | | | |
| other | | | | | | |
| payables | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Current | (1,932) | - | - | - | - | (1,932) |
| tax | | | | | | |
| liabilities | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Deferred | (3,000) | - | - | - | - | (3,000) |
| consideration | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Non-current | | | | | | |
| liabilities | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Bank | (6,850) | - | - | - | - | (6,850) |
| overdrafts | | | | | | |
| and | | | | | | |
| borrowings | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Obligations | (529) | - | - | - | - | (529) |
| under | | | | | | |
| finance | | | | | | |
| lease | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Trade | (1,001) | - | - | - | - | (1,001) |
| and | | | | | | |
| other | | | | | | |
| payables | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Deferred | (30) | 169 | (24) | (1,225) | - | (1,110) |
| tax | | | | | | |
| liabilities | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Deferred | (2,649) | - | - | - | - | (2,649) |
| consideration | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Total | (28,853) | 169 | (24) | (1,225) | - | (29,933) |
| liabilities | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Net | 33,981 | 169 | 62 | (1,709) | 1,582 | 34,085 |
| assets | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Equity | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Share | 4,068 | - | - | - | - | 4,068 |
| capital | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Share | 13,649 | - | - | - | - | 13,649 |
| premium | | | | | | |
| account | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Equity | 199 | 169 | - | - | - | 368 |
| reserve | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Other | 15,233 | - | - | - | - | 15,233 |
| reserves | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Hedging | - | - | 62 | - | - | 62 |
| reserve | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Retained | 832 | - | - | (1,709) | 1,582 | 705 |
| earnings | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| Total | 33,981 | 169 | 62 | (1,709) | 1,582 | 34,085 |
| equity | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
| | | | | | | |
+-------------------------------------------+----------+----------+-------------+------------+--------------+----------+
+------------------------------------------------+----------+------------+--------------+----------+
| | UK | IAS38 | IFRS3 | IFRS |
| | GAAP | Intangible | Business | Balances |
| | balances | assets | combinations | GBP'000 |
| | in IFRS | GBP'000 | GBP'000 | |
| | format | | | |
| | GBP'000 | | | |
+------------------------------------------------+----------+------------+--------------+----------+
| Continuing | | | | |
| operations: | | | | |
+------------------------------------------------+----------+------------+--------------+----------+
| Revenue | 38,498 | - | - | 38,498 |
+------------------------------------------------+----------+------------+--------------+----------+
| Cost of sales | (24,808) | - | - | (24,808) |
+------------------------------------------------+----------+------------+--------------+----------+
| | | | | |
+------------------------------------------------+----------+------------+--------------+----------+
| Gross profit | 13,690 | - | - | 13,690 |
+------------------------------------------------+----------+------------+--------------+----------+
| | | | | |
+------------------------------------------------+----------+------------+--------------+----------+
| Administrative | (10,750) | (2,130) | 1,391 | (11,489) |
| expenses | | | | |
+------------------------------------------------+----------+------------+--------------+----------+
| | | | | |
+------------------------------------------------+----------+------------+--------------+----------+
| Operating profit | 2,940 | (2,130) | 1,391 | 2,201 |
+------------------------------------------------+----------+------------+--------------+----------+
| Interest | 72 | - | - | 72 |
| receivable | | | | |
+------------------------------------------------+----------+------------+--------------+----------+
| Finance costs | (846) | - | - | (846) |
+------------------------------------------------+----------+------------+--------------+----------+
| | | | | |
+------------------------------------------------+----------+------------+--------------+----------+
| Profit before tax | 2,166 | (2,130) | 1,391 | 1,427 |
+------------------------------------------------+----------+------------+--------------+----------+
| Income tax expense | (1,294) | 624 | - | (670) |
+------------------------------------------------+----------+------------+--------------+----------+
| | | | | |
+------------------------------------------------+----------+------------+--------------+----------+
| Profit for the | 872 | (1,506) | 1,391 | 757 |
| period from | | | | |
| continuing | | | | |
| operations | | | | |
+------------------------------------------------+----------+------------+--------------+----------+
| | | | | |
+------------------------------------------------+----------+------------+--------------+----------+
| Profit for the | 872 | (1,506) | 1,391 | 757 |
| period | | | | |
| attributable to | | | | |
| equity | | | | |
| shareholders of | | | | |
| the Parent | | | | |
+------------------------------------------------+----------+------------+--------------+----------+
| | | | | |
+------------------------------------------------+----------+------------+--------------+----------+
| | | | | |
+------------------------------------------------+----------+------------+--------------+----------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR JBMTTMMIJBIL
Silverdell (LSE:SID)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Silverdell (LSE:SID)
Historical Stock Chart
Von Jul 2023 bis Jul 2024
