Final Results

RNS Number : 4642T

Shellshock Limited

28 September 2010

 



Shellshock Limited announces results for the year ended 31 March 2010

Belize City, Belize, 28 September 2010 - Shellshock Limited (London-AIM: SHOK) ("Shellshock" or the "Company") reported net income of ₤37,000 for the year ended 31 March 2010 (2009 - net loss ₤134,000). Basic and diluted earnings per ordinary share for the year ended 31 March 2010 amounted to 0.62 pence (2009 - loss per share 2.23 pence).

The Company continues its search for investment opportunities in line with its stated strategy which includes possible investment in either one or more quoted or unquoted businesses that may have been set up by entrepreneurs with good strategic plans and need financial backing and the support of the experienced Shellshock management team.

The Company confirms that it has today posted the annual report to shareholders, copies of which are available on the Company's web site. Further details on the Company are set out in the Company's AIM Admission document dated 4 October 2007 and on the Company's web site.

For further information contact:

Shellshock Limited                                       

Belize [phone]                                    

UK [phone]

Note: This and other press releases are available at the Company's web site:

http://www.shellshocklimited.com. 

Income statement

Year ended 31 March		2010	2009
		UK₤000	UK₤000
Administrative expenses		(79)	(258)
Operating loss		(79)	(258)
Financial income		116	124
Profit (loss) before taxation		37	(134)
Taxation		-	-
Net profit (loss) for the year		37	(134
Earnings (loss) per ordinary share
Basic (pence)		0.62	(2.23)

Balance sheet

At March 31		2010	2009
		UK₤000	UK₤000
Assets
Current assets
Cash and cash equivalents		2,941	2,955
Other receivables		19	18
		2,960	2,973
Liabilities
Current liabilities
Other payables		(18)	(68)
Net current assets		2,942	2,905
Net assets		2,942	2,905
Shareholders' equity
Called up share capital		3,000	3,000
Retained deficit		(58)	(95)
Total shareholders' equity		2,942	2,905

Statement of cash flows

Year ended 31 March		2010	2009
		UK₤000	UK₤000
Cash flows from operating activities
Cash used in operations		(130)	(224)
Interest received		116	124
Net cash utilised by operating activities		(14)	(100)
Net (decrease) in cash and cash equivalents		(14)	(100)
Cash and cash equivalents at beginning of year		2,955	3,055
Cash and cash equivalents at end of year		2,941	2,955

-ENDS-

 

END

 

 

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