RNS Number:7137K
Coffeeheaven International PLC
06 May 2003
coffeeheaven international plc
("coffeeheaven")
Further re Bond Issue Programme
Further to the announcements of 4 April and 23 April 2003, coffeeheaven
announces that it's wholly owned trading subsidiary CHI Polska S.A. ("CHIP")
yesterday published the Prospectus in Poland relating to the Bearer Bond Issue
Programme. The first series of Bonds to be issued under the programme is
expected to be completed before the end of May.
The Bond Issue Programme Prospectus contains the audited financial results of
CHIP (based on Polish GAAP) for the nine month period from 1 April 2002 to 31
December 2002, a summary of which is contained below. The full text of the
Prospectus is available on the Company's website www.coffeeheaven.eu.com.
CHIP BALANCE SHEET as at 31 December 2002
31 December 2002 31 March 2002
PLN PLN
Assets
A. Fixed assets
I. Intangible assets
Other intangible assets 106 191,75 31 442,93
Prepayments for intangible assets 19 657,54 13 638,69
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Total intangible assets 125 849,29 45 081,62
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II. Tangible fixed assets
Fixes assets
buildings, parts thereof, and 2 960 259,23 1 534 678,54
structures of civil engineering
plant and machinery 1 217 976,71 513 571,32
other fixed assets 1 294 044,60 621 231,77
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5 472 280,54 2 669 481,63
Fixed assets in course of construction 71 468,13 258 114,35
Prepayments for assets in course of 0,00 59 007,89
construction
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Total tangible fixed assets 5 543 748,67 2 986 603,87
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III. Long-term debtors
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Other enterprises 481 966,97 221 196,53
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IV. Long-term investments 0,00 0,00
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V. Long-term prepayments
Deferred tax assets 380 716,15 0,00
Other prepayments 11 496,35 39 155,05
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Total long-term prepayments 392 212,50 39 155,05
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Total fixed assets 6 543 777,43 3 292 037,07
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B. Current assets
l. Stock
Materials 199 484,46 139 137,36
Goods 32 106,23 16 224,75
Prepayments for deliveries 0,00 31 538,87
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Total stock 231 590,69 186 900,98
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II. Short-term debtors
Related enterprises
trade debtors falling due within 12 113 429,16 27 412,20
months
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Other enterprises
trade debtors falling due within 12 49 819,87 1 490,70
months
tax, grant, customs, social
security, health insurance
and other benefits 394 501,00 103 545,00
other 61 785,94 17 107,97
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506 106,81 122 143,67
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Total short-term debtors 619 535,97 149 555,87
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III. Short-term investments
Cash, cash equivalents and other
monetary assets
cash in hand and at bank 89 922,07 215 481,19
other cash items 105 365,25 849 648,56
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Total short-term investments 195 287,32 1 065 129,75
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IV. Short-term prepayments 267 186,67 136 176,35
------------- -------------
------------- -------------
Total current assets 1 313 600,65 1 537 762,95
------------- -------------
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Total assets 7 857 378,08 4 829 800,02
============= =============
Equity and liabilities
A. Equity
Share capital 9 933 470,00 7 933 470,00
Called-up share capital (negative 0,00 - 206,00
figure)
Profit (loss) of prior years - 3 670 157,35 - 1 194 322,45
Net profit (loss) 337 511,85 - 2 475 834,90
------------- -------------
Total equity 6 600 824,50 4 263 106,65
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B. Creditors and provisions for
liabilities
I. Provisions for liabilities
Provision for deferred tax liability 6 153,00 0,00
Short-term provision for pensions and 18 844,17 69 996,43
similar benefits
Other short-term provisions 26 176,22 112 676,92
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Total provisions for liabilities 51 173,39 182 673,35
------------- -------------
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II. Long-term creditors 0,00 0,00
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III. Short-term creditors
Related enterprises - other 37 647,00 0,00
Other enterprises
bank and other loans 157 308,20 0,00
trade creditors falling due within 678 982,16 180 846,41
12 months
tax, customs, social security and 187 703,88 121 534,36
similar benefits
payroll creditors 114 183,83 56 848,61
other 4 114,42 8 435,61
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1 142 292,49 367 664,99
Special funds 10 283,04 16 064,80
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Total short-term creditors 1 190 222,53 383 729,79
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IV. Accruals
Other long-term accruals 10 275,01 0,00
Other short-term accruals 4 882,65 290,23
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Total accruals 15 157,66 290,23
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Total creditors and provisions for 1 256 553,58 566 693,37
liabilities
------------- -------------
------------- -------------
Total equity and liabilities 7 857 378,08 4 829 800,02
============= =============
CHIP PROFIT AND LOSS STATEMENT (comparative format)
for the period from 1 April 2002 to 31 December 2002
9 months to 15 months to
31 December 2002 31 March 2002
PLN PLN
A. Net sales income and equivalent
Net income from sales of products 4 378 483,07 3 147 394,80
Net income from sales of goods and 2 343 579,04 1 957 360,98
materials
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Total sales income, of which: 6 722 062,11 5 104 755,78
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- from related enterprises 0,00 0,00
B. Other operating expenses:
Depreciation 542 917,00 478 489,78
Materials and energy 1 166 877,00 900 953,81
Bought-in services 1 543 308,84 1 538 591,97
Sundry taxes and charges 37 401,71 98 766,45
Payroll 1 773 524,69 1 901 469,45
Social security and other benefits 333 967,64 390 584,53
Other cost items 208 716,90 1 097 426,98
Value of goods and materials sold 1 184 057,26 779 583,28
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Total operating expenses 6 790 771,04 7 185 866,25
------------- -------------
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C. Gross profit (loss) on sales (A-B) - 68 708,93 - 2 081 110,47
D. Other operating income
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Other operating income 52 624,19 38 069,27
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E. Other operating expenses
Cost of non-financial assets sold 8 005,42 569 209,91
Other 59 538,69 41 262,84
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Total operating expenses 67 544,11 610 472,75
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F. Profit (loss) from operating - 83 628,85 - 2 653 513,95
activities (C+D-E)
G. Financial income
Interest received, of which: 58 201,16 402 569,49
- from related enterprises 0,00 367 132,84
Other 0,00 153 007,00
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Total financial income 58 201,16 555 576,49
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H. Financial expenses
Interest payable, of which: 1 506,08 376 038,94
- to related enterprises 0,00 375 683,59
Other 10 117,53 0,00
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Total financial expenses 11 623,61 376 038,94
------------- -------------
------------- -------------
I. Profit/loss on ordinary activities - 37 051,30 - 2 473 976,40
before taxation (F+G-H)
J. Profit (loss) on extraordinary items
Extraordinary gains 0,00 4 890,00
Extraordinary losses 0,00 6 748,50
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Profit (loss) on extraordinary items 0,00 - 1 858,50
------------- -------------
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K. Gross profit (loss) (I+/-J) - 37 051,30 - 2 475 834,90
L. Corporate income tax -374 563,15 0,00
M. Other obligatory charges to reduce the 0,00 0,00
profit (increase the loss)
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R. Net profit (loss) (K-L-M) 337 511,85 - 2 475 834,90
============= =============
CHIP STATEMENT OF CHANGES IN EQUITY
for the period from 1 April 2002 to 31 December 2002
9 months to 15 months to
31 December 2002 31 March 2002
PLN PLN
l. Equity at beginning of period 4 263 106,65 -1 094 322,45
(opening balance)
- adjustments for fundamental errors 0,00 0,00
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l.a. Equity at beginning of period 4 263 106,65 -1 094 322,45
(opening balance), after adjustments
Share capital at beginning of period 7 933 470,00 100 000,00
Changes in share capital
increase by issue of share capital 2 000 000,00 7 833 470,00
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Share capital at end of period 9 933 470,00 7 933 470,00
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Called-up share capital at beginning of -206,00 0,00
period
Changes in called-up share capital
increase 0,00 -206,00
decrease (cash payments) 206,00 0,00
------------- -------------
Called-up share capital at end of 0,00 -206,00
period
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Loss of prior years at beginning of -1 194 322,45 0,00
period
- adjustments for fundamental errors 0,00 0,00
------------- -------------
Loss of prior years at beginning of -1 194 322,45 0,00
period, after adjustments
Increase by carrying forward the loss of -2 475 834,90 -1 194 322,45
the previous period
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Loss of prior years at end of period -3 670 157,35 -1 194 322,45
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Net profit/ (loss) 337 511,85 0,00
net profit 0 -2 475 834,90
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net loss 337 511,85 -2 475 834,90
------------- -------------
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II. Equity at end of period (closing 6 600 824,50 4 263 106,65
balance)
============= =============
CHIP CASH-FLOW STATEMENT
for the period from 1 April 2002 to December 2002
9 months to 15 months to
31 December 2002 31 March 2002
PLN PLN
A. Cash flows from operating
activities
l. Net profit (loss) 337 511,85 -2 475 834,90
II. Total adjustments for:
Depreciation / amortisation 542 917,00 478 489,78
Investment profit (loss) 8 005,42 631 593,08
Change in provisions -131 499,96 0,00
Change in stock -44 689,71 -134 821,43
Change in debtors -730 750,54 -86 616,61
Change in short-term creditors except 649 184,54 -2 256 664,60
for those arising on bank and other
loans
Change in prepayments and accruals -469 200,34 -693 666,02
Other adjustments -237 269,78 5 620 862,86
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Total adjustments -413 303,37 3 559 177,06
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III. Net cash flows from operating -75 791,52 1 083 342,16
activities (l+/-ll)
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B. Cash flows from investing
activities
l. Receipts
Disposals of intangible and tangible 4 328,51 0,00
fixed assets
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II. Payments
Acquisition of intangible and tangible -2 955 893,62 -2 592 522,65
fixed assets
------------- -------------
------------- -------------
III. Net cash flows from investing -2 951 565,11 -2 592 522,65
activities (I-II)
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C. Cash flows from financing
activities
l. Receipts
Net receipts from issuance of share
capital and other equity instruments
and additional payments to reserve 2 000 206,00 1 999 794,00
capital
Bank and other loans 157 308,20 0,00
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2 157 514,20 1 999 794,00
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II. Payments 0,00 0,00
------------- -------------
------------- -------------
III. Net cash flows from financing 2 157 514,20 1 999 794,00
activities (l-ll)
------------- -------------
------------- -------------
D. Total net cash flows -869 842,43 490 613,51
(A.III+/-B.III+/-C.III)
============= =============
------------- -------------
E. Inflow/ outflow of cash and cash -869 842,43 490 613,51
equivalents shown on the balance ============= =============
sheet
F. Cash and cash equivalents at the 1 065 129,75 574 516,24
beginning of period
G. Cash and cash equivalents at the end 195 287,32 1 065 129,75
of period (F+/-D)
Enquiries:
Richard Worthington Executive Chairman +48 606 818850 or +44 7973 442331
richworth@aol.com
Jeremy Porter Seymour Pierce Ltd +44 20 7648 8700
Sandra Hewett Shmr +44 20 7689 3116
sandra@shmr.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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