Information  X 
Enter a valid email address

Fluid Leader Group Plc (FLGP)

  Print   

Friday 30 October, 2009

Fluid Leader Group Plc

Final Results


30 October 2009

                            FLUID LEADER GROUP PLC                             

                                (the "Company")  
                            

The Company presents its financial results for the year ending 30 April 2009.

The Company has made great strides during the period in question and
subsequently and is now poised to fully exploit its intellectual property.

The Company's final results were line with the board of director's expectations
for this period. During the period covered by the accounts the Company
consolidated its patent application ownership and developed the technology and
products from this intellectual property in preparation for their manufacture
and distribution. During the period the Company disposed of Edward One Limited
and Edward Two Limited and acquired several patent applications and leasehold
interest in land in Sharjah. The Company has also entered into a license
agreement for its product in parts of Asia and the Middle East.

The main focus of the Company has been to perfect the patent applications and
obtain technical drawings for the technology to be able to produce prototypes
for testing ready for manufacture.


CONSOLIDATED PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 30 APRIL 2009

                                              2009                       2008  
                                                                               
                                                 £                          £  
                                                                               
Turnover                                         -                          -   
                                                                               
Cost of sales                                    -                          -  
                                                                               
                                           _______                    _______ 
                                                                               
Gross (loss)/profit                             -                           -   
                                                                               
Administrative expenses                  (859,002)                  (977,445)  
                                                                               
                                           _______                    _______  
                                                                               
Operating loss                           (859,002)                  (977,445)  
                                                                               
Loss on disposal of                  -                (190,430)                  
discontinued activities.                                                     
                               _______                 _______                 
                                                                               
                                                 -                  (190,430)  
                                                                               
                                           _______                   _______ 
                                                                               
Loss before taxation                     (859,002)                (1,167,875)    
from continuing operations                                                     
                                                                               
Tax on loss on ordinary                         -                          -   
activities                                                                     
                                                                               
                                           _______                    _______  
                                                                               
Loss on ordinary                         (859,002)                (1,167,875)  
activities after taxation                                                      
                                                                               
                                           =======                    =======    

The 2009 results represent the continuing operations from 2008.

There are no recognised gains and losses other than those passing through the
profit and loss account.

Earnings per share                             (0.3p)                 (1.5p)


BALANCE SHEETS AS AT 30 APRIL 2009

                                                 2009                   2008   
                                                                               
                                                    £                      £   
                                                                               
Fixed assets                                                                   
                                                                               
Intangible assets                          98,046,000             88,796,000   
                                                                               
Tangible assets                             5,000,000                      -   
                                                                               
Investments                                                                -   
                                              _______                _______
                                                                               
                                          103,046,000             88,796,000   

                                              _______                _______

Current assets  
                                                                               
Stocks                                              -                      -   
                                                                               
Debtors                                        17,425                112,542   
                                                                               
Cash at bank and in hand                                              29,110   
                                                                               
                                              _______                _______   
                                                                               
                                               17,425                141,652   
                                                                               
Creditors: amounts falling due within       (115,870)              (779,923)   
one year                                                                       
                                              _______                _______
                                                                               
Net current (liabilities)/assets             (98,445)              (638,271)   
                                                                               
                                              _______                _______  
                                                                               
Total assets less current                 102,947,555             88,157,729    
liabilities                                                                    
                                                                               
                                              _______                _______   
                                                                               
Creditors: amounts falling due after      (4,750,000)            (6,055,200)   
more than one year                                                                  
                                                                               
                                              _______                _______   
                                                                               
                                          98,197,555              82,102,529   
                                                                               
                                              =======                =======   
                                                                               
Capital and reserves                                                           
                                                                               
Called up share capital                       741,725                351,650     
                                                                               
Share premium account                      99,774,847             83,210,894     
                                                                               
Profit and loss account                   (2,319,017)            (1,460,015)     
                                                                               
                                              _______                _______     
                                                                               
Total Equity                               98,197,555             82,102,529     
                                                                               
                                              =======                =======     

The financial information is unaudited. The audit report has been
delayed because the auditors need more time to evaluate the professional
valuer's report of the intellectual property of the company which supports the
current valuation in accordance with the guidance in International Standard on Auditing
(UK and Ireland) 620.

The directors of Fluid Leader Group Plc accept responsibility for the content
of this announcement.

                                    -ends-                                     

FOR FURTHER INFORMATION CONTACT:-

FLUID LEADER GROUP PLC
Martin Boulton
Tel: 020 7616 7070
Email: [email protected]

BRIDGE HALL STOCKBROKERS LIMITED
Alex Benger
Tel: 020 7337 9705
Email: [email protected]


                                                                                                                                                                                          

a d v e r t i s e m e n t