Half Yearly Report -4-
September 30 2010 - 2:01AM
UK Regulatory
| | Six months | Six months |
| | ended | ended |
| | 30 June | 30 June |
| | 2010 | 2009 |
| | GBP000 | GBP000 |
+---------------------------------------+------------+------------+
| Cash flows from operating activities | | |
+---------------------------------------+------------+------------+
| Cash used in operations | (187) | (619) |
+---------------------------------------+------------+------------+
| Interest received | - | - |
+---------------------------------------+------------+------------+
| Interest paid | (42) | (6) |
+---------------------------------------+------------+------------+
| Taxation paid | - | - |
+---------------------------------------+------------+------------+
| Net cash used in operating activities | (229) | (625) |
+---------------------------------------+------------+------------+
| Cash flows from investing activities | | |
+---------------------------------------+------------+------------+
| Purchase of property, plant and | (22) | (37) |
| equipment | | |
+---------------------------------------+------------+------------+
| Investment in intangible assets | (475) | (320) |
+---------------------------------------+------------+------------+
| Net cash used in investing activities | (497) | (357) |
+---------------------------------------+------------+------------+
| Cash flows from financing activities | | |
+---------------------------------------+------------+------------+
| Proceeds received in respect of | 180 | - |
| issue of share capital in July | | |
+---------------------------------------+------------+------------+
| Net proceeds from issue of share | - | 454 |
| capital in the period | | |
+---------------------------------------+------------+------------+
| Repayment of loan | (1,127) | - |
+---------------------------------------+------------+------------+
| Increase in loans | 1,500 | 661 |
+---------------------------------------+------------+------------+
| Net cash generated from financing | 553 | 1,115 |
| activities | | |
+---------------------------------------+------------+------------+
| Net increase/(decrease) in cash and | (173) | 133 |
| cash equivalents | | |
+---------------------------------------+------------+------------+
| Cash, cash equivalents and bank | 113 | (140) |
| overdraft at 1 January | | |
+---------------------------------------+------------+------------+
| Cash, cash equivalents and bank | (60) | (7) |
| overdraft at 30 June | | |
+---------------------------------------+------------+------------+
GBP180,000 was received in June 2010 in respect of an issue of ordinary shares
that took place in July 2010 (see note 7). This receipt has been included in
cash flows from financing activities.
Ludorum plc
Notes to the consolidated interim financial statements for the six months ended
30 June 2010
1. Accounting policies
General Information
The company is a public limited company incorporated and domiciled in the United
Kingdom. The address of its registered office is 2B River Court, 27 Brewhouse
Lane, Putney Wharf, London SW15 2JX. The registered number is 5595899. This
company is listed on AIM.
The condensed consolidated interim financial information was approved for issue
on 30 September 2010.
Basis of preparation
The condensed consolidated interim financial information should be read in
conjunction with the annual financial statements for the year ended 31 December
2009, which have been prepared in accordance with IFRSs.
The condensed consolidated interim financial information has not been reviewed
or audited by the Company's auditors and does not constitute statutory accounts
within the meaning of section 434 of the Companies Act 2006. Statutory accounts
for the year ended 31 December 2009 were approved by the Board for issue on 28
May 2010 and have been delivered to the Registrar of Companies. The auditors'
report on those accounts was unqualified, did not contain an emphasis of matter
paragraph and did not contain any statement under sections 498 (2) or (3) of the
Companies Act 2006.
Accounting policies
The accounting policies applied are consistent with those of the annual
financial statements for the year ended 31 December 2009, as described in those
financial statements.
The following new standards are mandatory from 2010 but have had no impact on
the Group:
IAS 27 (revised), ' Consolidated and separate financial statements'
IFRS 3 (revised), 'Business combinations'
2. Segmental analysis
The group currently has one operating segment, the development and exploitation
of its rights in Chuggington. Further information about revenue derived from the
Group's product lines is set out below. Management information used by the Chief
Operating Decision Maker (CODM) is in a format similar to the Consolidated
Statement of Comprehensive Income and Consolidated Balance Sheet. The CODM is
considered to be the Board of Directors.
Revenue by product line
+---------------------------------------+------------+------------+
| | Six months | Six months |
| | ended | ended |
| | 30 June | 30 June |
| | 2010 | 2009 |
| | GBP000 | GBP000 |
+---------------------------------------+------------+------------+
| | | |
+---------------------------------------+------------+------------+
| Television | 468 | 798 |
+---------------------------------------+------------+------------+
| Home Entertainment | 147 | 86 |
+---------------------------------------+------------+------------+
| Consumer Products | 682 | 54 |
+---------------------------------------+------------+------------+
| Other | 4 | 2 |
+---------------------------------------+------------+------------+
| | 1,301 | 940 |
+---------------------------------------+------------+------------+
Geographical analysis of revenue by location of customer
+---------------------------------------+------------+------------+
| | Six months | Six months |
| | ended | ended |
| | 30 June | 30 June |
| | 2010 | 2009 |
| | GBP000 | GBP000 |
+---------------------------------------+------------+------------+
| | | |
+---------------------------------------+------------+------------+
| United Kingdom | 406 | 225 |
+---------------------------------------+------------+------------+
| Europe | 488 | 391 |
+---------------------------------------+------------+------------+
| Asia | 139 | 212 |
+---------------------------------------+------------+------------+
| Australasia | 212 | 62 |
+---------------------------------------+------------+------------+
| Americas | 56 | 50 |
+---------------------------------------+------------+------------+
| | 1,301 | 940 |
+---------------------------------------+------------+------------+
All material assets are located in the UK.
3. Intangible assets
+------------------------------------------------+-----------------+
| | Capitalised |
| | development |
| | costs |
+------------------------------------------------+-----------------+
| | GBP000 |
+------------------------------------------------+-----------------+
| 30 June 2010 | |
+------------------------------------------------+-----------------+
| | |
+------------------------------------------------+-----------------+
| Cost | |
+------------------------------------------------+-----------------+
| At 1 January 2010 | 2,273 |
+------------------------------------------------+-----------------+
| Additions | 475 |
+------------------------------------------------+-----------------+
| At 30 June 2010 | 2,748 |
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