Profit for the
year - - - - - 3,010 3,010 718 3,728
Other
comprehensive
income - - - (126) (1,518) - (1,644) (739) (2,383)
Total
comprehensive
income for the
year - - - (126) (1,518) 3,010 1,366 (21) 1,345
Equity-settled
share-based
payment (note
25) - - - - - 82 82 - 82
Options exercised
(note 22) 58 118 - - - - 176 - 176
Equity dividends
paid - - - - - - - (1,014) (1,014)
At 31 March 2014 2,896 4,776 17,164 (577) (672) 29,925 53,512 3,649 57,161
Merger reserve
The merger reserve comprises premium on shares issued in
relation to business combinations.
Capital redemption reserve
The capital redemption reserve comprises amounts transferred
from retained earnings in relation to the redemption of preference
shares. For ease of presentation, the amount of GBP1.34 million
relating to the capital redemption reserve has been included within
the column of share premium and capital redemption reserve in the
balances at both the beginning and end of each year, with no
movements.
Hedging reserve
The hedging reserve comprises the effective portion of the
cumulative net change in the fair value of cash flow hedging
instruments related to hedged transactions that have not yet
occurred.
Translation reserve
The translation reserve comprises all foreign currency
differences arising from the translation of the financial
statements of foreign operations.
Shareholders' equity
Shareholders' equity represents total equity attributable to
owners of the Parent Company.
Consolidated balance sheet
as at 31 March 2014
As at As at
31 March 31 March
2014 2013
Notes GBP000 GBP000
---------------------------------------------------- ----- -------- --------
Non-current assets
Property, plant and equipment 11 32,049 29,993
Intangible assets 12 31,950 32,795
Deferred tax assets 13 3,665 4,250
---------------------------------------------------- ----- -------- --------
Total non--current assets 67,664 67,038
---------------------------------------------------- ----- -------- --------
Current assets
Inventory 14 48,460 50,114
Trade and other receivables 15 19,690 23,285
Cash and cash equivalents 16 8,111 2,301
---------------------------------------------------- ----- -------- --------
Total current assets 76,261 75,700
---------------------------------------------------- ----- -------- --------
Total assets 143,925 142,738
---------------------------------------------------- ----- -------- --------
Equity
Share capital 22 2,896 2,838
Share premium 3,436 3,318
Reserves 17,255 18,899
Retained earnings 29,925 26,833
---------------------------------------------------- ----- -------- --------
Equity attributable to owners of the Parent Company 53,512 51,888
---------------------------------------------------- ----- -------- --------
Non-controlling interests 3,649 4,684
---------------------------------------------------- ----- -------- --------
Total equity 57,161 56,572
---------------------------------------------------- ----- -------- --------
Non-current liabilities
Loans and borrowings 17 28,145 29,479
Deferred income 18 1,592 1,329
Provisions 19 860 862
Other financial liabilities 20 4,202 1,803
---------------------------------------------------- ----- -------- --------
Total non-current liabilities 34,799 33,473
---------------------------------------------------- ----- -------- --------
Current liabilities
Bank overdraft 16 2,529 336
Loans and borrowings 17 9,695 12,847
Deferred income 18 1,202 550
Provisions 19 165 107
Income tax payable 2,052 904
Trade and other payables 21 25,818 28,995
Other financial liabilities 20 10,504 8,954
---------------------------------------------------- ----- -------- --------
Total current liabilities 51,965 52,693
---------------------------------------------------- ----- -------- --------
Total liabilities 86,764 86,166
---------------------------------------------------- ----- -------- --------
Total equity and liabilities 143,925 142,738
---------------------------------------------------- ----- -------- --------
These financial statements were approved by the Board of
Directors on 19 June 2014 and were signed on its behalf by:
Paul Fineman Director
Anthony Lawrinson Director
Company number 1401155
Consolidated cash flow statement
year ended 31 March 2014
2014 2013
Notes GBP000 GBP000
----------------------------------------------------------------------------- ------ -------- --------
Cash flows from operating activities
Profit for the year 3,728 4,076
Adjustments for:
Depreciation 11 5,032 3,807
Amortisation of intangible assets 12 576 494
Finance expenses 8,10 3,616 3,466
Income tax charge 9 1,459 1,601
Loss/profit on sales of property, plant and equipment and intangible assets 5 4 (252)
Equity-settled share-based payment 25 82 22
----------------------------------------------------------------------------- ------ -------- --------
Operating profit after adjustments for non-cash items 14,497 13,214
Change in trade and other receivables 1,520 (1,965)
Change in inventory (722) (7,171)
Change in trade and other payables (48) 4,356
Change in provisions and deferred income (84) (901)
----------------------------------------------------------------------------- ------ -------- --------
Cash generated from operations 15,163 7,533
Tax paid (60) (937)
Interest and similar charges paid (3,221) (3,285)
----------------------------------------------------------------------------- ------ -------- --------
Net cash inflow from operating activities 11,882 3,311
----------------------------------------------------------------------------- ------ -------- --------
Cash flow from investing activities
Proceeds from sale of property, plant and equipment 140 421
Acquisition of intangible assets (206) (242)
Acquisition of property, plant and equipment (a) (5,085) (1,884)
Receipt of government grants 1,049 -
----------------------------------------------------------------------------- ------ -------- --------
Net cash outflow from investing activities (4,102) (1,705)
----------------------------------------------------------------------------- ------ -------- --------
Cash flows from financing activities
Proceeds from issue of share capital 176 266
Repayment of secured borrowings (5,646) (4,060)
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