Final Results
September 30 2003 - 3:30AM
UK Regulatory
RNS Number:3143Q
Mosaique PLC
30 September 2003
30 September 2003
Mosaique Plc
Preliminary Announcement for the period 1 June 2002 to 31 March 2003
Chairman's Statement
The Company did not trade during the 10 months to 31st March 2003. The Company
is showing a loss on ordinary activities before taxation of #93,484 (2002-
#6,072,711), largely attributable to the administrative expenses connected with
maintaining the Company's AIM quotation and accounting costs and other
professional costs incurred by the previous board.
The position in the current financial year has improved dramatically.
In my interim statement of 23rd February 2003 I stated that I was confident that
there is now in place a board committed to taking the Company forward. I am
delighted, therefore, to be able to announce that the new business activities,
approved by shareholders at the EGM on 30th June 2003, are moving ahead
positively. Your board is pleased with the encouraging start of the new business
which is already generating cash flow and looks forward to reporting to you very
shortly in its interim statement for the six months ended 30th September 2003.
The annual general meeting will be held at the offices of Field Fisher
Waterhouse, 35 Vine Street London EC3N 2AA on 27th October 2003 at 11a.m.
Your board remains committed to building strongly on the progress made to date.
Nicholas Richardson
Chairman
30th September 2003
Group Profit and Loss Account
Period from 1 June 2002 to 31 March 2003
31 March Year to
2003 31 May
# 2002
#
Group turnover - 4,180,414
Cost of sales - 2,167,640
Gross profit 2,012,774
Net operating expenses 121,636 2,063,273
Operating loss:
Continuing operations (121,636)
Discontinued operations - (50,499)
Group operating loss (121,636) (50,499)
Loss on disposal of discontinued operations - (5,945,104)
(121,636) (5,995,603)
Interest receivable 12,594 -
Profit/(Loss) on revaluation of own investments 15,600 (51,000)
Interest payable (42) (26,108)
Loss on ordinary activities before taxation (93,484) (6,072,711)
Tax on loss on ordinary activities - 20,449
Loss for the financial period (93,484) (6,093,160)
Loss per share (pence) (1.389) (92.203)
The Group has no recognised gains or losses other than the results for the
period as set out above.
Group Balance Sheet
31 March 2003
31 March 31 May
2003 2002
# #
Fixed assets
Investments 30,600 15,000
Current assets
Debtors 22,588 11,116
Cash at bank 465,464 629,654
488,052 640,770
Creditors: Amounts falling due within one year (44,225) (87,859)
Net current assets 443,827 552,911
Total assets less current liabilities 474,427 567,911
Capital and reserves
Called-up equity share capital 336,420 336,420
Profit and loss account 138,007 231,491
Shareholders' funds 474,427 567,911
NOTES
1. The financial information set out above does not constitute statutory
accounts within the meaning of Section 240 of the Companies Act 1985. Statutory
accounts for the previous year ended 31 May 2002 have been delivered to the
Registrar of Companies. Statutory accounts for the period to 31 March 2003 will
be delivered to the Registrar of Companies and sent to shareholders. An
unqualified auditors' report has been given on such accounts.
2. The Directors have not recommended the payment of a dividend.
3. Loss per share
31st March 31st May
20 03 2002
# #
pence pence
Loss per ordinary share
(1.389) (92.203)
The basic loss per shares are calculated by dividing the loss on ordinary
activities after tax of #93,484 (2002: #6,093,160) by 6,728,400 (2002:
6,608,400) being the weighted average number of shares in issue and carrying the
right to receive dividend during the period ended 31 March 2003.
The diluted earnings per ordinary share calculation is the same as the
basic earnings per share calculation. This is because no dilution arises as a
result of the share options in issue during the year, as the value at which they
were granted has been in excess of the average market price throughout the year
and therefore no options would be exercised.
4. The Annual Report and Accounts will be mailed to registered shareholders
at their registered address today and is available to the public free of charge
for one month at the Company's registered office, 6 Imperial Court, Empire Way,
Wembley, Middlesex HA9 0RD and at the offices of City Financial Associates
Limited, Pountney Hill House, 6 Laurence Pountney Hill, London EC4R 0BL.
5. The Annual General Meeting of the Company will be held at the offices of
Field Fisher Waterhouse, 35 Vine Street, London EC3N 2AA at 11.00 am on 27
October 2003.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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