FRESH TL PLC
UNAUDITED INTERIM FINANCIALS OF FRESH T LIMITED
Further to the completion of the recent reverse takeover of Fresh T Limited by Greener House Investments
plc ("the Reverse"), set out below are the interim results of Fresh T Limited for the six months ended 30
June 2010.
The Company reports a loss for the six months ended 30 June 2010 of GBP 160,781 (six months ended 30 June
2009, GBP 19,103).
Stephen Blank, Finance Director, commented, "I am pleased to present the Company's interim results for the
six months ended 30 June 2010. During this period the company completed its acquisition of Teampoint
Systems Limited and received a £600,000 equity investment under the Investment Agreement dated 26 March
2010 between the company, funds managed by YFM and Greener House Investments plc ("GHI"). Further details
may be found in the Admission Document dated 13 September 2010. Operating expenses therefore consist of
costs relating to this stage of the Reverse and running costs from 26 March 2010 onwards. Revenue and
expenditure were both in line with management expectations."
Fresh T Limited
Consolidated profit and loss account for the six months ended 30 June 2010
Six months Six months Twelve months
ended ended ended
30 June 2010 30 June 2009 31 December
(Unaudited) (Unaudited) 2009
(Audited)
£ £ £
Turnover 10,166 - 4,448
Operating expenses 172,179 19,103 52,924
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Operating loss (162,013) (19,103) (48,476)
Interest receivable less payable 1,232 - -
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Loss before taxation (160,781) (19.103) (48,476)
Taxation - - -
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Loss for the financial period (160,781) (19,103) (48,476)
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Consolidated Balance Sheet as at 30 June 2010
As at As at As at
30 June 2010 30 June 2009 31 December
(Unaudited) (Unaudited) 2009
(Audited)
£ £ £
Fixed assets
Intangible assets 118,688 - -
Tangible assets 7,373 1,312 2,045
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126,061 1,312 2,045
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Current assets
Debtors 42,949 950 10,202
Cash and cash equivalents 449,058 42,174 19,296
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492,007 43,124 29,498
Creditors-amounts falling due within one year (109,325) (62,589) (79,019)
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Net current assets (liabilities) 382,682 (19,465) (49,521)
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Total assets less current liabilities 508,743 (18,153) (47,476)
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Capital and reserves
Share capital 1,960 950 1,000
Share premium 716,040 - -
Profit & loss account (209,257) (19,103) (48,476)
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Shareholders' funds (note 3) 508,743 (18,153) (47,476)
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Notes to the accounts:
1. The unaudited interim results have been prepared in accordance with the accounting policies adopted in
drawing up the financial statements of Fresh T Limited for the year ended 31 December 2009. The acquisition
method of accounting has been applied in accounting for the acquisition of the whole of the issued share
capital of Teampoint Limited in March 2010.
2. The unaudited interim results set out above are not the company's statutory accounts. Statutory accounts
for the six months ended 30 June 2010 have not been delivered to the Registrar of Companies and no audit
report has been issued thereon. Statutory accounts for the year ended 31 December 2009 have been delivered
to the Registrar of Companies. The auditors have reported on the statutory accounts for the year ended 31
December 2009 and their report was unqualified and did not include a reference to any matters to which the
auditor drew attention by way of emphasis without qualifying the report; neither did it contain a statement
under section 498 (2) (accounting records or returns inadequate or accounts or directors' remuneration
report not agreeing with records and returns), or Section 498 (3) (failure to obtain necessary information
and explanations).
3. Movement in Shareholders' Funds
As at As at As at
30 June 2010 30 June 2009 31 December
(Unaudited) (Unaudited) 2009
(Audited)
£ £ £
Loss for the period (160,781) (19103) (48,476)
Net proceeds of equity share issue 717,000 950 1,000
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Net additions to shareholders' funds 556,219 (18,153) (48,476)
Opening shareholders' funds (47,476) - -
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Closing shareholders' funds 508,743 (18,153) (47,476)
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Change of Accounting Reference Date
The Company has changed its accounting reference date to 31 December.
The directors of the Company take responsibility for this announcement.
Enquiries:
FreshTL plc 0161 408 0962
Stephen Blank, Finance Director
Daniel Stewart & Co Plc
Oliver Rigby 020 7776 6550
FreshTL plc