Consolidated statement of financial position as at 31 December
2014
31/12/14 31/12/13
EUR EUR
Assets
Non-current assets
Exploration and evaluation assets 163,375,424 186,052,006
Equity accounted investments 44,483,000 23,728,594
Property, plant and equipment 10,831,903 10,514,451
Other non-current assets 833,045 3,407,821
Financial assets 42,534,544 37,432,083
Other financial assets 5,360,034 -
267,417,950 261,134,955
------------- -------------
Current assets
Inventory 320,043 229,978
Trade and other receivables 10,344,339 13,216,437
Other financial assets 1,335,361 6,274,202
Cash and cash equivalents 1,808,715 11,420,968
Assets classified as held for
sale - 15,705,353
------------- -------------
13,808,458 46,846,938
------------- -------------
Total assets 281,226,408 307,981,893
------------- -------------
Equity and liabilities
Equity
Called up share capital 126,778,633 126,560,947
Share premium account 164,099,598 164,232,712
Share based payments reserve 11,424,904 10,213,497
Currency translation reserve (571,578) (1,388,753)
Fair value reserve (76,979) (3,095,243)
Retained earnings (50,868,681) (12,604,325)
------------- -------------
Attributable to equity holders
of the Group 250,785,897 283,918,835
Non-controlling interest 2,248 527,851
------------- -------------
Total equity 250,788,145 284,446,686
------------- -------------
Non-current liabilities
Derivative 4,017 208,434
Deferred tax liabilities 12,198,995 9,329,447
------------- -------------
12,203,012 9,537,881
------------- -------------
Current liabilities
Trade and other payables 10,963,732 6,228,211
Loans and borrowings 5,814,022 -
Provisions 1,457,497 1,397,094
Liabilities classified as held
for sale - 6,372,021
------------- -------------
18,235,251 13,997,326
------------- -------------
Total liabilities 30,438,263 23,535,207
------------- -------------
Total equity and liabilities 281,226,408 307,981,893
------------- -------------
Consolidated statement of cash flows for the year ended 31
December 2014
31/12/14 31/12/13
EUR EUR
Cash flows from operating activities
Loss before tax - Continuing operations (37,419,057) (13,681,662)
Profit / (loss) before tax - Discontinued
operations 30,258 (3,350,138)
Adjustments for:
Depletion and depreciation 101,570 118,006
Finance expense 1,796,659 1,587,240
Finance income (231,352) (1,751,393)
Share based payments charge 249,064 639,954
Foreign exchange (1,739,289) (1,172,367)
Gain on Talisman acquisition - (4,229,277)
Impairment of exploration and
evaluation assets - continuing
operations 9,149,836 7,036,679
Impairment of equity accounted
assets - continuing operations 3,345,664 3,579,880
Impairment of exploration and
evaluation assets - discontinued
operations - 3,579,880
Decrease / (increase) in other
non-current assets 457,051 (1,116,161)
Loss on disposal of subsidiaries 6,429,007 -
(Increase) / decrease in inventory (90,065) 360,233
Decrease / (increase) in trade
and other receivables 2,398,785 (2,746,657)
Increase / (decrease) in trade
and other payables 5,483,083 (2,766,513)
Other non-current assets 2,117,728 -
Share of loss of equity-accounted
investments 54,002 141,745
Tax paid (21,031) (31,122)
Net cash flows in operating activities (7,888,087) (17,381,553)
------------- -------------
Cash flows from investing activities
Expenditure on exploration and
evaluation assets (19,909,050) (31,250,052)
Joint venture partner share of
exploration costs 363,293 4,045,909
Purchases of property, plant and
equipment (1,701,433) (1,854,578)
Interest received 3,515 36,699
Decrease / (increase) in restricted
cash 325,354 (5,517,332)
Advances to equity-accounted investments (1,054,618) (1,631,488)
Proceeds of farm-out arrangement 14,806,537 -
Proceeds of offshore Morocco farm-out - 1,210,217
Net cash acquired with subsidiary - 31,897,712
Cash acquired with asset acquisition - 3,949,107
Payment to acquire financial assets - (1,329,349)
Net cash outflow from investing
activities (7,166,402) (443,155)
------------- -------------
Cash flows from financing activities
Proceeds from issue of share capital,
net of costs - 35,769,754
Cost of issue of shares in 2013 (473,715)
Proceeds from drawdown of other
loans 8,415,037 2,612,315
Repayment of other loans (3,070,671) (9,258,223)
Movement in director loan 2,201,471 (859,373)
Interest and arrangement fees
paid (1,641,403) (881,298)
Net cash inflow from financing
activities 5,430,719 27,383,175
------------- -------------
Net (decrease) / increase in cash
and cash equivalents (9,623,770) 9,558,467
Effect of foreign exchange fluctuation
on cash and cash equivalents 11,517 37,702
Cash and cash equivalents at start
of year 11,420,968 1,824,799
------------- -------------
Cash and cash equivalents at end
of year 1,808,715 11,420,968
------------- -------------
General
San Leon Energy plc ("the Company") is a company incorporated in
Ireland. The Group financial statements consolidate those of the
Company with those of its subsidiaries (together referred to as
"the Group").
The financial information presented in this report has been
prepared using accounting policies consistent with International
Financial Reporting Standards ("IFRS") as adopted by the European
Union and as set out in the Group's annual financial statements in
respect of the year ended 31 December 2014. The financial
information herein does not include all the information and
disclosures required in the annual financial statements, however
the full financial statements are included within the Annual Report
which are being distributed to shareholders and which are available
on the Company's website www.sanleonenergy.com. It will also be
filed with the Company's Annual Return in the Companies
Registration Office. The financial information herein for the prior
year ended 31 December 2013 represents an abbreviated version of
the Group's statutory financial statements and the financial
statements for the year ended 31 December 2013 have been filed with
the Companies Registration Office.
Annual Report and Accounts
Copies of the Annual Report and Accounts, together with a notice
of the annual general meeting, are being posted to shareholders
today and are available within the Investor Relations section of
the Company's website www.sanleonenergy.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR PKCDBDBKBPAB
San Leon Energy (LSE:SLE)
Historical Stock Chart
From Jun 2024 to Jul 2024
San Leon Energy (LSE:SLE)
Historical Stock Chart
From Jul 2023 to Jul 2024
