Interim Results
December 17 2002 - 2:01AM
UK Regulatory
RNS Number:1998F
Riceman Insurance Investments PLC
16 December 2002
Riceman Insurance Investments Plc
Interim Statement
for the six months ended 30th September 2002
For the six month period ended 30th September 2002, your Company sustained a
pre-tax loss of #11,974 (2001 - loss #31,056).
Overheads continue to be incurred on a minimal basis, and cash balances at 30th
September 2002 amounted to #220,606 (2001 - #255,754).
Your Board will write to shareholders as soon as any firm proposals can be
placed before them concerning the intended development of the Company.
Kamran Amin
Chairman
16th December 2002
Riceman Insurance Investments plc
Unaudited profit and loss account
for the six months ended 30th September 2002
Six months Six months
ended 30th ended Year ended
Sept 30th Sept 31st March
2002 2001 2002
# # #
Turnover - - -
Net operating expenses (15,199) (36,718) (57,646)
------------- ------------- -------------
Operating Loss (15,199) (36,718) (57,646)
Interest receivable 3,255 5,707 9,447
Interest payable (30) (45) (3)
------------- ------------- ---------------
Loss on ordinary activities before taxation (11,974) (31,056) (48,202)
Tax on loss on ordinary activities - - -
------------- ------------- -------------
Loss on ordinary activities after taxation (11,974) (31,056) (48,202)
======== ======== ========
Basic loss per share (0.018)p (0.047)p (0.07)p
======== ======== ========
Riceman Insurance Investments plc
Unaudited balance sheet at 30th September 2002
30th Sept 30th Sept 31st March
2002 2001 2002
# # #
Current assets
Debtors 17,266 24,692 17,552
Cash at Bank 220,606 255,754 236,539
---------- ---------- ----------
237,872 280,446 254,091
Creditors: Amounts falling due within one year (3,200) (16,654) (7,445)
---------- ---------- ----------
Net current assets 234,672 263,792 246,646
---------- ----------
----------
NET ASSETS 234,672 263,792 246,646
====== ====== ======
CAPITAL AND RESERVES
Called up share capital 65,939 65,939 65,939
Share premium account 1,896,685 1,896,685 1,896,685
Profit and loss account (1,727,952) (1,698,832) (1,715,978)
------------- ------------- -------------
TOTAL EQUITY SHAREHOLDERS' FUNDS 234,672 263,792 246,646
======= ======== ========
Riceman Insurance Investment plc
Notes to the interim financial information
30th September 30th September 31st March
2002 2001 2002
# # #
Debtors
Other debtors 17,266 16,859 16,943
Prepayment - 7,833 609
---------- ---------- ----------
17,266 24,692 17,552
====== ====== ======
Creditors
Trade creditors - 2,880 -
Other creditors - 4,381 2,125
Other taxes and social security - 1,579 -
Accruals 3,200 7,814 5,320
--------- ---------- ----------
3,200 16,654 7,445
====== ====== ======
Notes
i) The interim financial information for the six months ended 30th
September 2002 includes only the results of Riceman Insurance Investments plc.
The unaudited results for the period have been prepared on the basis of the
accounting policies adopted in the audited accounts for the year ended 31st
March 2002.
ii) The unaudited profit and loss account for each of the six month
periods and the unaudited balance sheet as at 30th September 2002 do not amount
to full accounts within the meaning of Section 240 of the Companies Act 1985 and
have not been delivered to the Registrar of Companies. The Interim Report is
unaudited and does not constitute Statutory Accounts.
iii) The results for the year ended 31st March 2002 have been extracted
from the statutory accounts of the Company for that year which have been filed
with the Registrar of Companies. The auditor's report on these accounts was
unqualified and did not contain any statement under Section 237 of the Companies
Act 1985.
iv) No dividend is proposed to be paid in respect of the period.
v) The calculation of loss per share is based on the loss after taxation
for the period of #11,974 (2001-loss #31,056) and on 65,938,530
(2001-65,938,530) ordinary shares, being the average number of ordinary shares
in issue during the period.
vi) Copies of the Interim Statement are available from the Company's
Registered Office at 56 Queen Anne Street, London W1G 8LA.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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