Interim Results
30 September 2006 - 1:08AM
UK Regulatory
RNS Number:7268J
Pannal PLC
29 September 2006
INTERIM ACCOUNTS
PANNAL PLC
Company number: 04998151
30 JUNE 2006
C O N T E N T S
Pages
Chairman's statement 1
Unaudited profit and loss account 2
Unaudited balance sheet 3
Unaudited cash flow statement 4
CHAIRMAN'S STATEMENT
These are the results for the 6 months ended 30 June 2006, the third set of
accounts since flotation. The company made a loss for the period of #17,385 and
at 30 June 2006 the company had net assets of #1,486,296.
The directors continuing strategy is to use Pannal plc as a vehicle to identify
and acquire businesses that are able to take advantage of opportunities within
the technology, media and telecommunications sector.
To date no suitable acquisition has been identified and on 1 April 2006 trading
of the company's shares was suspended in accordance with the rules (the "Rules")
of AIM, a market operated by the London Stock Exchange.
Under the Rules the company has until 1 October 2006 to implement its investment
strategy. If no acquisition is made before this deadline the trading of the
Company's shares on AIM will be cancelled.
In order to allow shareholders to continue to trade the Company's shares on a
public market, the directors have applied for admission of the Company's shares
to Ofex. As announced today on the www.plusmarketsgroup.com website, trading of
the Company's shares on Ofex is expected to begin on 13 October 2006.
The Board continues to seek a suitable acquisition and will issue an update as
soon as progress has been made.
John Swingewood
Non-executive Chairman
UNAUDITED PROFIT AND LOSS ACCOUNT
FOR THE PERIOD FROM 1 JANUARY 2006 TO 30 JUNE 2006
01.01.06 01.01.05
To To
30.06.06 31.12.05
# #
TURNOVER - -
Cost of sales - -
GROSS PROFIT - -
Net operating expenses (50,519) (141,018)
OPERATING LOSS (50,519) (141,018)
Interest receivable and similar income 33,334 44,826
Interest payable and similar charges (200) (10)
LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION (17,385) (96,202)
Tax on loss on ordinary activities - -
LOSS SUSTAINED FOR THE PERIOD/YEAR
AND CARRIED FORWARD (17,385) (96,202)
The company has no material recognised gains and losses other than the loss
above and therefore no separate statement of total recognised gains and losses
has been presented.
All results are derived from continuing activities.
UNAUDITED BALANCE SHEET
30 JUNE 2006
2006 2005
# #
CURRENT ASSETS
Debtors 20,829 27,394
Cash at bank and in hand 1,484,861 1,491,127
1,505,690 1,518,521
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR (19,394) (14,840)
NET ASSETS 1,486,296 1,503,681
CAPITAL AND RESERVES
Called up share capital 420,502 420,502
Share premium account 1,179,381 1,179,381
Profit and loss account (adverse) (113,587) (96,202)
EQUITY SHAREHOLDERS FUNDS 1,486,296 1,503,681
J P SWINGEWOOD
Director
UNAUDITED CASH FLOW STATEMENT
01.01.06 01.01.05
To To
30.06.06 31.12.05
# #
NET CASH OUTFLOWS FROM OPERATING
ACTIVITIES (39,400) (153,572)
RETURNS ON INVESTMENT AND SERVICING OF FINANCE
Interest paid (200) (10)
Interest receivable 33,334 44,826
FINANCING
Net proceeds on issue of shares in the period - 1,499,881
(DECREASE)/INCREASE IN CASH (6,266) 1,391,125
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR ZKLFLQKBEBBV
Pan Euro (LSE:PAN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Pan Euro (LSE:PAN)
Historical Stock Chart
From Jul 2023 to Jul 2024