RNS Number:6693N
Coffeeheaven International PLC
17 July 2003
coffeeheaven international plc ("coffeeheaven")
Final Results of coffeeheaven's Trading Subsidiary
As a result of coffeeheaven's trading subsidiary CHI Polska S.A. ("CHIP")
issuing publicly traded bonds in Poland in May 2003, CHIP is now required by the
Polish Securites and Exchange Commission to meet certain financial reporting
requirements in Poland. In this regard, CHIP has today announced in Poland its
results for the year ended 31 March 2003. An extract from the results is
provided below. The results are prepared in accordance with Polish GAAP and are
quoted in Polish Zlotys (PLN) (1 GBP = approximately 6.3 PLN).
coffeeheaven international plc is expected to announce its results for the year
ended 31 March 2003 during August 2003.
Enquiries:
Richard Worthington, Executive Chairman Tel: +48 22 334 2123
Jeremy Porter, Seymour Pierce Ltd Tel: +44 20 7107 8000
Sandra Hewett, Shmr Tel: +44 20 7689 3116
CHI Polska S.A.
Financial Statements for the period from 1 April 2002 to 31 March 2003
BALANCE SHEET as at 31 March 2003
As at As at
31 March 2003 31 March 2002
PLN PLN
Assets
A. Fixed assets
I. Intangible assets
Other intangible assets 96 253,18 31 442,93
Payments on account of intangible 19 657,54 13 638,69
assets ----------- -----------
Total intangible assets 115 910,72 45 081,62
----------- -----------
II. Tangible fixed assets
Fixes assets
buildings, parts thereof, and 2 869 536,94 1 534 678,54
structures of civil engineering
plant and machinery 1 172 744,66 513 571,32
other fixed assets 1 300 159,93 621 231,77
----------- ------------
5 342 441,54 2 669 481,63
Fixed assets in course of construction 347 744,35 258 114,35
Payments on account of assets in course 1 800,00 59 007,89
of construction ------------ ------------
Total tangible fixed assets 5 691 985,88 2 986 603,87
------------ ------------
III. Long-term debtors
Other enterprises 378 889,17 221 196,53
------------ ------------
IV. Long-term investments 0,00 0,00
------------ ------------
V. Long-term prepayments
Deferred tax assets 411 907,43 0,00
Other prepayments 79 315,68 39 155,05
------------ ------------
Total long-term prepayments 491 223,11 39 155,05
------------ ------------
------------ ------------
Total fixed assets 6 678 008,88 3 292 037,07
============ ============
B. Current assets
l. Stock
Materials 216 164,85 139 137,36
Goods 27 469,73 16 224,75
Payments on account of deliveries 22 429,86 31 538,87
------------ ------------
Total stock 266 064,44 186 900,98
------------ ------------
II. Short-term debtors
Related enterprises
trade debtors falling due within 12 119 971,84 27 412,20
months
Other enterprises
trade debtors falling due within 12 7 131,74 1 490,70
months
tax, grant, customs, social
security, health insurance
and other benefits 79 798,10 103 545,00
Other 342 272,76 17 107,97
------------ ------------
429 202,60 122 143,67
------------ ------------
Total short-term debtors 549 174,44 149 555,87
------------ ------------
III. Short-term investments
Cash, cash equivalents and other
monetary assets
cash in hand and at bank 360 244,67 215 481,19
other cash items 18 028,91 849 648,56
------------ ------------
Total short-term investments 378 273,58 1 065 129,75
------------ ------------
------------ ------------
IV. Short-term prepayments 353 402,87 136 176,35
------------ ------------
------------ ------------
Total current assets 1 546 915,33 1 537 762,95
------------ ------------
------------ ------------
Total assets 8 224 924,21 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) 234 294,50 - 2 475 834,90
------------ ------------
Total equity 6 497 607,15 4 263 106,65
------------ ------------
B. Creditors and provisions for
liabilities
I. Provisions for liabilities
Provision for deferred tax liability 11 787,73 0,00
Short-term provision for pensions and 15 576,67 69 996,43
similar benefits
Other short-term provisions 44 961,83 112 676,92
------------ ------------
Total provisions for liabilities 72 326,23 182 673,35
------------ ------------
II. Long-term creditors 0,00 0,00
------------ ------------
III. Short-term creditors
Related enterprises
Other 526 338,00 0,00
------------ ------------
Other enterprises
bank and other loans 233 332,86 0,00
trade creditors falling due within 527 787,01 180 846,41
12 months
tax, customs, social security and 196 258,66 121 534,36
similar benefits
payroll creditors 122 882,04 56 848,61
Other 11 087,55 8 435,61
------------ ------------
1 091 348,12 367 664,99
Special funds 22 473,14 16 064,80
------------ ------------
Total short-term creditors 1 640 159,26 383 729,79
------------ ------------
IV. Accruals
Other long-term accruals 9 843,25 0,00
Other short-term accruals 4 988,32 290,23
------------ ------------
Total accruals 14 831,57 290,23
------------ ------------
------------ ------------
Total creditors and provisions for 1 727 317,06 566 693,37
liabilities ------------ ------------
------------ ------------
Total equity and liabilities 8 224 924,21 4 829 800,02
============ ============
PROFIT AND LOSS ACCOUNT (comparative format)
for the period from 1 April 2002 to 31 March 2003
12 months 15 months
from 1 April from 1 January
2002 2001
to 31 March to 31 March
2003 2002
PLN PLN
A. Net sales income and equivalent
Net income from sales of products 6 284 667,16 3 147 394,80
Net income from sales of goods and 3 237 155,82 1 957 360,98
materials ------------ ------------
Total sales income, of which: 9 521 822,98 5 104 755,78
------------ ------------
- from related enterprises 0,00 0,00
B. Other operating expenses:
Depreciation 792 298,48 478 489,78
Materials and energy 1 678 838,59 900 953,81
Bought-in services 2 198 635,58 1 538 591,97
Sundry taxes and charges, of which: 51 822,85 98 766,45
- excise duty 0,00 0,00
Payroll 2 511 477,61 1 901 469,45
Social security and other benefits 486 146,48 390 584,53
Other cost items 303 794,55 1 097 426,98
Value of goods and materials sold 1 653 036,91 779 583,28
------------ ------------
Total operating expenses 9 676 051,05 7 185 866,25
------------ ------------
------------ ------------
C. Gross profit (loss) on sales (A-B) - 154 228,07 - 2 081 110,47
D. Other operating income
Sundry operating income 55 490,25 38 069,27
------------ ------------
E. Other operating expenses
Cost of non-financial assets sold 9 529,40 569 209,91
Sundry operating expenses 71 532,00 41 262,84
------------ ------------
Total operating expenses 81 061,40 610 472,75
------------ ------------
------------ ------------
F. Profit (loss) from operating - 179 799,22 - 2 653 513,95
activities (C+D-E)
G. Financial income
Interest received, of which: 62 488,91 402 569,49
- from related enterprises 0,00 367 132,84
Other 0,00 153 007,00
------------ ------------
Total financial income 62 488,91 555 576,49
------------ ------------
H. Financial expenses
Interest payable, of which: 9 191,93 376 038,94
- to related enterprises 0,00 375 683,59
Other 31 830,96 0,00
------------ ------------
Total financial expenses 41 022,89 376 038,94
------------ ------------
------------ ------------
I. Profit/loss on ordinary activities - 158 333,20 - 2 473 976,40
(F+G-H)
J. Profit (loss) on extraordinary items
Extraordinary gains 17 307,14 4 890,00
Extraordinary losses 24 799,14 6 748,50
------------ ------------
Profit (loss) on extraordinary items - 7 492,00 - 1 858,50
------------ ------------
------------ ------------
K. Gross profit (loss) (I+/-J) - 165 825,20 - 2 475 834,90
L. Corporate income tax -400 119,70 0,00
M. Other obligatory charges to reduce 0,00 0,00
the profit
(increase the loss)
------------ ------------
N. Net profit (loss) (K-L-M) 234 294,50 - 2 475 834,90
============ ============
CASH-FLOW STATEMENT
for the period from 1 April 2002 to 31 March 2003
12 months 15 months
from 1 April from 1 Janury
2002 2001
to 31 March to 31 March
2003 2002
PLN PLN
A. Cash flows from operating
activities
l. Net profit (loss) 234 294,50 -2 475 834,90
II. Total adjustments for:
Depreciation/ amortisation 792 298,48 478 489,78
Investment profit (loss) 9 529,40 631 593,08
Change in the level of provisions -110 347,12 0,00
Change in the level of stock -79 163,46 -134 821,43
Change in the level of debtors -557 311,21 -86 616,61
Change in the level of short-term 557 858,61 -2 256 664,60
creditors except for bank and other
loans
Change in prepayments and accruals -654 753,24 -693 666,02
Other adjustments 8 853,35 5 620 862,86
------------ ------------
Total adjustments -33 035,19 3 559 177,06
------------ ------------
III. Net cash flows from operating 201 259,31 1 083 342,16
activities (l+/-ll) ------------ ------------
B. Cash flows from investing
activities
l. Receipts
Disposals of intangible and tangible 4 378,51 0,00
fixed assets ------------ ------------
------------ ------------
II. Payments
Acquisition of intangible and tangible -3 591 270,85 -2 592 522,65
fixed assets
------------ ------------
------------ ------------
III. Net cash flows from investing -3 586 892,34 -2 592 522,65
activities (I-II) ------------ ------------
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 698 570,86 0,00
------------ ------------
2 698 776,86 1 999 794,00
------------ ------------
II. Payments 0,00 0,00
------------ ------------
------------ ------------
III. Net cash flows from financing 2 698 776,86 1 999 794,00
activities (l-ll) ------------ ------------
------------ ------------
D. Total net cash flows -686 856,17 490 613,51
(A.III+/-B.III+/-C.III) ============ ============
E. Inflow/ outflow of cash and cash -686 856,17 490 613,51
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 378 273,58 1 065 129,75
of period (F+/-D)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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