RNS Number:7372R
All New Video PLC
23 February 2007
ALL NEW VIDEO PLC
Interim Results
CHAIRMAN'S STATEMENT
Period ended 30 November 2006
I am pleased to present the interim results of All New Video plc. The period
under review incorporates the trading results of All New Video plc and All New
Video (UK) Limited ("the Trading Subsidiary") for the period 1st June 2006 to
30th November 2006.
In the period 1st June 2006 to 30th November 2006, the revenues of the Trading
Subsidiary were #257,509 compared with its reported interim results for the
period 1st April 2005 to 31st October 2005 of #119,332.
I am very please that the future of All New Video plc has been assured with the
acceptance by more that 94% of the shareholders, at this point in time, of an
offer by iPoint. As at 16th February 2007, All New Video plc became a
subsidiary of iPoint. Under the AIM Rules All New Video plc will apply to
cancel the admission to trading of its shares on AIM on or about 12th March
2007.
All New Video plc and iPoint have been collaborating closely for the past three
years and the purchase of All New Video plc by iPoint is a natural conclusion to
a very strong working relationship.
....................
J Hawkins
Chairman of the Board
Date ...............
ALL NEW VIDEO PLC
CONSOLIDATED PROFIT AND LOSS ACCOUNT
Period ended 30 November 2006
Period ended Period ended Period ended
30 Nov 2006 31 Oct 2005 31 May 2006
Unaudited Unaudited Audited
# # #
Turnover 257,509 119,332 537,139
_____________ _____________ _____________
Less: cost of sales (117,740) (61,100) (376,328)
Gross Profit 139,769 58,232 160,811
Administrative expenses (301,383) (219,947) (929,168)
_____________ _____________ _____________
Exceptional item: impairment of goodwill - - (3,036,946)
OPERATING (LOSS) (161,614) (161,715) (3,805,303)
Interest payable and similar charges (3,720) (2,184) (4,449)
Interest receivable (bank interest) 2,551 29,540 22,017
_____________ _____________ _____________
(LOSS) ON ORDINARY ACTIVITIES BEFORE TAXATION (162,783) (134,359) (3,787,735)
Tax on (loss) on ordinary activities - - -
_____________ _____________ _____________
(LOSS) ON ORDINARY ACTIVITIES AFTER
TAXATION FOR THE FINANCIAL YEAR (162,783) (134,359) (3,787,735)
_____________ _____________ _____________
BASIC (LOSS) PER ORDINARY SHARE (0.188) p (0.332) p (6.25) p
_____________ _____________ _____________
DILUTED (LOSS) PER ORDINARY SHARE (0.188) p (0.332) p (6.25) p
_____________ _____________ _____________
ALL NEW VIDEO PLC
CONSOLIDATED BALANCE SHEET
As at 30 November 2006
30 Nov 2006 31 Oct 2005 31 May 2006
Unaudited Unaudited Audited
# # #
FIXED ASSETS
Intangible 1,000,000 4,223,007 1,000,000
Tangible 259,618 410,519 328,657
_____________ _____________ _____________
1,259,618 4,633,526 1,328,657
CURRENT ASSETS
Debtors 240,403 444,735 359,970
Cash at bank and in hand 73,767 661,519 148,930
_____________ _____________ _____________
314,170 1,106,254 508,900
CREDITORS: amounts falling due within one year (501,411) (805,175) (576,856)
_____________ _____________ _____________
NET CURRENT ASSETS (187,241) 301,079 (67,956)
TOTAL ASSETS LESS CURRENT LIABILITIES 1,072,377 4,934,605 1,260,701
CREDITORS: amounts falling due after one year (38,669) (84,738) (64,210)
_____________ _____________ _____________
TOTAL NET ASSETS 1,033,708 4,849,867 1,196,491
_____________ _____________ _____________
CAPITAL AND RESERVES
Called up share capital 864,072 864,072 864,072
Share premium account 4,120,154 4,120,154 4,120,154
Profit and loss reserve (3,950,518) (134,359) (3,787,735)
_____________ _____________ _____________
TOTAL EQUITY SHAREHOLDERS' FUNDS 1,033,708 4,849,867 1,196,491
_____________ _____________ _____________
ALL NEW VIDEO PLC
CONSOLIDATED CASH FLOW
Period ended 30 November 2006
Period ended Period ended Period ended
30 Nov 2006 31 Oct 2005 31 May 2006
Unaudited Unaudited Audited
# # #
Net cash inflow/(outflow) in respect of operating
activities (40,352) 71,481 (428,286)
_____________ _____________ _____________
Returns on investments and servicing of finance
Interest received 2,551 29,541 22,017
Interest paid (3,720) (2,184) (4,449)
_____________ _____________ _____________
Net cash inflow/(outflow) from returns on
investments and servicing of finance (1,169) 27,357 17,568
Capital expenditure and financial investment
Purchase of tangible fixed assets (8,101) (145,848) (149,094)
Acquisition of subsidiary undertaking - (390,289) (369,760)
_____________ _____________ _____________
Net cash outflow from capital expenditure and
financial investment (8,101) (536,137) (518,854)
_____________ _____________ _____________
Net cash outflow before financing (49,622) (437,299) (929,572)
Financing
Issue of share capital - 1,259,500 1,259,500
Expenses paid in respect of share issue - (150,275) (150,275)
Payments in respect of lease agreements (25,541) (10,407) (38,974)
_____________ _____________ _____________
Net cash inflow/(outflow) from financing (25,541) 1,098,818 1,070,251
_____________ _____________ _____________
Increase/(decrease) in cash (75,163) 661,519 140,679
_____________ _____________ _____________
ALL NEW VIDEO PLC
NOTES TO THE INTERIM ACCOUNTS
Period ended 30 November 2006
1. Basis of preparation
The financial information for the period ended 30 November 2006 has been
prepared on the basis of the accounting policies set out in the audited
financial statements for the period ended 31 May 2006. This financial
information does not constitute statutory accounts as defined in section 240 of
the Companies Act 1985.
The financial information relates to the consolidated results of the group as
follows:
Period ended 30 November 2006 incorporates the trading results of All New Video
plc and All New Video (UK) Ltd and subsidiaries for the 6 months ended 30
November 2006. These figures are unaudited.
Period ended 31 May 2006 incorporates the trading results of All New Video plc
for the 16 months from incorporation on 31 January 2005 to 31 May 2006 and the
trading results of All New Video (UK) Ltd and subsidiaries for the 9 months from
the date of acquisition on 31 August 2005 to 31 May 2006. These figures have
been extracted from the audited statutory financial statements.
Period ended 31 October 2005 incorporates the trading results of All New Video
plc for the 9 months from incorporation on 31 January 2005 to 31 October 2005
and the trading results of All New Video (UK) Ltd and subsidiaries for the 2
months from the date of acquisition on 31 August 2005 to 31 October 2005. These
figures have been extracted from the previous interim financial statements and
are unaudited.
2. Loss per ordinary share
The calculation of loss per share is based on the loss for the period divided by
the weighted average number of shares in issue during the period:
Period ended Period ended Period ended
30 Nov 2006 31 Oct 2005 31 May 2006
Basic loss attributable to ordinary shareholders (162,783) (134,359) (3,787,735)
Weighted average number of ordinary shares 86,407,143 40,501,587 60,585,268
Loss per ordinary share (0.188) p (0.332) p (6.25) p
This information is provided by RNS
The company news service from the London Stock Exchange
END
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