Boxhill Technologies PLC Half Yearly Report -2-
28 April 2015 - 2:30PM
UK Regulatory
Retained earnings (2,360) (2,103) (2,658)
------------------------------- ----------------------------- ---------------------
Total equity 834 587 492
------------------------------- ----------------------------- ---------------------
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Share Share Retained
Capital Premium Earnings Total
GBP'000 GBP'000 GBP'000 GBP'000
Balance
at 1
August
2013 795 1,463 (1,975) 283
Issue of
new
shares
in the
period 332 100 432
Loss for
the
period (128) (128)
Balance
at 31
January
2014 1,127 1,563 (2,103) 587
Shares
issued
less
costs 300 160 460
Loss for
the
period (555) (555)
Balance
at 31
July
2014 1,427 1,723 (2,658) 492
Issue of
new
shares
in
period 29 15 44
Profit /
(Loss)
for the
period 298 298
Balance
at 31
January
2015 1,456 1,738 (2,360) 834
----------------------------- ------------------------------ ---------------------------- --------------------
CONDENSED CONSOLIDATED CASH FLOW STATEMENT
Period ended Period ended Year ended
31-Jan 31-Jan 31-Jul
2015 2014 2014
Notes (unaudited) (unaudited) (audited)
GBP'000 GBP'000 GBP'000
Net cash
generated
from/(used in)
operations 4 429 (198) (154)
Interest and
financing
costs 2 (33) (77)
-------------------------------- ------------------------------ ---------------------
Net cash (used
by)/generated from
operating activities 431 (231) (231)
Net cash (used
by)/generated from
discontinued
operating
activities - - (102)
-------------------------------- ------------------------------ ---------------------
Net cash (outflow) from
operating activities 431 (231) (333)
Cash flow from
investing
activities:
Acquisition of
subsidiary
undertakings - (422) -
Purchase of
intangible
assets (1) - (6)
Net cash inflow on
acquisition of
subsidiary - - 13
Purchase of property,
plant and equipment - (8) (34)
-------------------------------- ------------------------------ ---------------------
Net cash generated from
investing activities (1) (430) (27)
-------------------------------- ------------------------------ ---------------------
Financing
Net proceeds
from issue of
shares 44 432 174
Proceeds of new
bank and other
loans - 248 394
Repayment of
bank and other
loans (453) - (206)
-------------------------------- ------------------------------ ---------------------
Net cash from
financing
activities (409) 680 362
-------------------------------- ------------------------------ ---------------------
(Decrease)/increase in
cash and cash
equivalents:
(Decrease)/increase in
cash and cash
equivalents 21 19 2
Cash and cash
equivalents at
beginning of period 258 256 256
Cash and cash
equivalents at end of
period 279 275 258
-------------------------------- ------------------------------ ---------------------
Comprising of:
Cash and cash
equivalents per the
balance sheet 279 275 258
Less:
Bank overdraft - - -
-------------------------------- ------------------------------ ---------------------
Cash and cash
equivalents
for cash flow
statement
purposes 279 275 258
-------------------------------- ------------------------------ ---------------------
NOTES TO THE INTERIM FINANCIAL REPORT
1. Accounting policies
Basis of Accounting and Preparation
These interim results for the six months ended 31 January 2015
have been prepared using the historical cost and fair value
conventions on the basis of the accounting policies set out below.
This interim report has been prepared in accordance with IFRS's, it
is not in accordance with IAS 34 and therefore is not fully
compliant with IFRS.
These interim results have been prepared under the historical
cost convention. Areas where other bases are applied are identified
in the accounting policies below.
The financial information set out in this interim report does
not constitute statutory accounts as defined in the Companies Act
2006. The Company's statutory financial statements for the year
ended 31 July 2014 have been filed with the Registrar of Companies.
The auditor's report on those financial statements was unqualified,
although it did include a reference in relation to the uncertainty
regarding amounts receivable and payable in connection with a
potential Vat liability and corresponding indemnity and potential
counter legal claims which the auditor drew attention by way of
emphasis without qualifying their report and did not contain a
statement under section 498(2) or (3) of the Companies Act
2006.
This announcement contains certain forward-looking statements
with respect to the operations, performance and financial position
of the Group. By their nature, these statements involve uncertainty
since future events and circumstances can cause results and
developments to differ materially from those anticipated. The
forward-looking statements reflect knowledge and information
available at the date of the preparation of this announcement and
the Company undertakes no obligation to update these
forward-looking statements. Nothing in this Interim Financial
Report should be construed as a profit forecast.
The results for the six months ended 31 January 2015 were approved by the Board on April 2015.
Basis of consolidation
The consolidated financial statements incorporate the financial
statements of the Company and entities controlled by the Company
(its subsidiaries) made up to 31 January and 31 July each year.
Control is achieved where the Company has the power to govern the
financial and operating policies so as to obtain benefits from its
activities.
The results of subsidiaries acquired or disposed of during the
year are included in the consolidated income statement from the
effective date of acquisition or up to the effective date of
disposal, as appropriate.
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