Final Results
17 April 2002 - 11:21PM
UK Regulatory
RNS Number:6766U
Simons & Co Limited
17 April 2002
Simons & Co Limited
Preliminary Statement
Year ended 31 December 2001
CHAIRMAN'S STATEMENT
Directors Statement
The results for the year ended 31 December 2001 show that the policy of
investing in publicly listed and unquoted companies adopted in 1998 to provide
an enhanced income continues to be fruitful. The portfolio of publicly listed
and unquoted company shares which are held by the Company has performed
satisfactorily. There has been little activity in dealings in publicly listed
shares.
Dividends
The dividend of 3.75% net per share due to Preference shareholders for the
period to 30 June 2001 was paid on 1 July 2001 and the dividend of 3.75% net per
share due to Preference shareholders for the period to 31 December 2001 was paid
on 1 January 2002.
Shareholders' Meetings held on 26 July 2001 approved modifications to the rights
of Preference shareholders which (inter alia) enable the directors to declare
annual distributions to Preference shareholders greater than 7.5%. No such
additional distribution has been declared for the year ended 31 December 2001.
No dividend was declared in respect of the Company's Ordinary shares.
Availability of 2001 Report and Accounts
Copies of the 2001 Report and Accounts are available from the registered office.
GM SIMON
Chairman
PROFIT AND LOSS ACCOUNT
for the year ended 31 December 2001
Note 2001 2000
£ £
Turnover - continuing operations 75,077 23,459
Net operating expenses
Administrative expenses (16,772) (12,773)
Operating profit - continuing operations 58,305 10,686
Profit on sale of fixed asset investments - 2,638
Profit before interest 58,305 13,324
Interest payable (118) (120)
Profit on ordinary activities before taxation 58,187 13,204
Tax on profit on ordinary activities 1 (756) (1,838)
Profit on ordinary activities after taxation 57,431 11,366
Dividends (including non-equity interests) 2 (11,250) (11,250)
Retained profit for the year 46,181 116
SUMMARISED CONSOLIDATED CASH FLOW STATEMENT
for the year ended 31 December 2001
2001 2000
£ £
Net cash (outflow)/inflow from operating activities (38,285) 237,328
Returns on investment and servicing of finance (11,368) (11,370)
Taxation paid 542 (1,781)
Capital expenditure and financial investment - (39,640)
Management of liquid resources (3,743) (8,267)
(Decrease)/increase in cash (52,854) 176,270
SUMMARISED BALANCE SHEET
at 31 December 2001
2001 2000
Fixed assets £ £
Investments 616,198 396,198
616,198 396,198
Current assets
Debtors due within one year - 1,092
Investments 28,123 35,857
Cash at bank and in hand 254,040 306,894
282,163 343,843
Creditors: Amounts falling due within one year (435,143) (323,004)
Net current (liabilities)/ assets (152,980) 20,839
Total assets less current liabilities 463,218 417,037
Capital and reserves 463,218 417,037
1. TAXATION
Taxation charge for the year:
2001 2000
£ £
UK Corporation tax:
Current tax on income for the period at 30% (2000 : 20%) 190 1,047
Adjustments in respect of prior periods 566 791
756 1,838
2. DIVIDENDS
The final dividend of 3.75% per share due to preference shareholders was
paid on 1 January 2001.
3. PRELIMINARY STATEMENT
This preliminary statement, which has been agreed with the auditors, was
approved by the Board on 12 April 2002. It is not the company's statutory
accounts. The statutory accounts for the year ended 31 December 2000 have
been delivered to the Registrar of Companies and received an audit report
which was unqualified and did not contain statements under s237 (2) or (3)
of the Companies Act 1985. The statutory accounts for the year ended
31 December 2001 have not yet been approved, audited or filed.
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