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Hyper Entertainment PLC (HYE)

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Friday 29 May, 2009

Hyper Entertainment PLC

Final Results

                                                                        29/05/09


                             HYPER ENTERTAINMENT PLC
                           ("Hyper" or "the Company")

AUDITED FINANCIAL RESULTS FOR THE FINANCIAL YEAR TO 31 DECEMBER 2008

DIRECTORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2008

The  directors present their report and financial statements for the year  ended
31 December 2008.

Following  the dissolution of Hyper Entertainment Inc, a wholly owned subsidiary
of  the  Company on 31 December 2007, the Company no longer has any subsidiaries
and   consequently  had  no  requirements  to  prepare  consolidated   financial
statements for the year ended 31 December 2008.

The  consolidated net assets at 31 December 2007 are reconciled to  the  Company
net assets at 31 December 2007 as follows:

                                                                £
As reported                                                  (27,667)

Hyper Entertainment Inc retained post acquisition lost        100,421

Currency translation reserve                                  (3,792)

Prior year adjustment                                        (67,000)
                                                             --------

As  per restated comparative                                   1,962
                                                             --------


The  prior  year adjustment is in respect of income accrued at 31 December  2006
that  was  invoiced in the year ended 31 December 2007 but the balance had  been
included in trade debtors at 31 December 2007.

Principal activities and review of the business
The  principal  activity  of the company continued  to  be  that  of  delivering
entertaining  and  viable  solutions to its clients  within  the  entertainment,
retail and real-estate sectors.

During the year under review the Company's turnover increased by 108% and  there
was  an increase in gross profit.  The overall profit before tax is £19,905. The
year  was very busy with Hyper securing its largest number of contracts  in  any
one year period.

Hyper  worked  with a variety of clients and provided services  in  the  visitor
experience,  leisure  development and sponsorship areas.   Hyper  showed  strong
growth  in the Middle East region by securing an additional three clients  above
the  contract with ALDAR.  Hyper's growth enabled it to move its offices and  to
hire  a  Manager  of Strategic Services.  Hyper is now located  in  Soho  Square
surrounded by many of the types of clients with whom Hyper works.

Further, Hyper has utilized its sales and marketing resources which were  mostly
applied  to  sponsorship implementation in other areas not  traditional  to  its
business.  This has allowed for Hyper to combat the overall economic downturn by
repurposing its assets.

Principal risks and uncertainties
The  key risk is the worldwide economic downturn which has affected some of  the
industries to which Hyper markets its services.  In order to combat this,  Hyper
has continued it business development in regions that have not been as hard hit,
and has successfully begun to really penetrate those markets as evidenced by the
numerous contracts in the Middle East.  It is also continues to expand its range
of services in order to broaden its potential client base.

Additional,  members  of the Hyper team are positioning themselves  as  relevant
members of boards and committees in their client's industries.  This enables for
strong  networking and business development opportunities on which  the  company
has always generated its sales leads.

The  sales  cycle  entailed  in obtaining the larger, usually  more  profitable,
consulting engagements continues to be the key risk to the business.  On  larger
contracts  the  sales  cycle can last up to 12-18 months  which  can  result  in
periods  with  little or no revenue generated.  The Company  tries  to  mitigate
against  this  uneven income stream by controlling overhead  costs  and  seeking
smaller contracts which have a shorter sales cycle to smooth income generation.

Key performance indicators
Maintaining  flexibility  in  staffing through the use  of  sub-contractors  and
maintaining  a  tight control of administrative fees is critical  for  improving
cashflow and profitability.

Future developments
The  Company  continues  its business development activities  and  is  currently
participating  in several tenders for potential clients in the  United  Kingdom,
the  Middle  East  and  Europe. The Company will continue with  its  efforts  to
increase the number of contracts and expand its range of services.

As  ever,  in  closing we would like to thank our staff, advisors,  friends  and
shareholders for their continued support.

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2008

                                           2008              2007
                                                               as
                                                          restated

                                              £                 £

Turnover                                544,992           262,536


Cost of sales                           (290,678)        (126,201)

                                        -------           -------
Gross profit                            254,314           136,335


Administrative expenses                (235,209)         (156,335)
                                        -------           --------
Operating profit/(loss)                  19,105           (20,000)

Other interest receivable                   800               959
and similar income
Amounts written off investments               -            (3,950)
                                        -------           --------
Profit/(loss) on ordinary                19,905           (22,991)
activities before taxation

Tax on profit/(loss) on                       -                 -
ordinary activities
                                        -------           -------
Profit/(loss) for the year               19,905           (22,991)
                                        -------           -------

Earnings/(loss) per share                 0.30p           (0.35)p
                                        -------           -------
The  profit and loss account has been prepared on the basis  that
all operations are continuing operations.


BALANCE SHEET AS AT 31 DECEMBER 2008
                                       2008              2007
                                                     as restated
                                     £        £        £        £

Fixed assets
Tangible assets                             789               986

Current assets
Debtors                        137,021            54,481

Cash at bank and in hand         1,211            62,919
                               -------           -------
                               138,232           117,400

Creditors: amounts
falling due within one year   (117,154)         (116,424)
                               -------           -------
Net current assets                       21,078               976
                                        -------           -------
Total assets less current liabilities    21,867             1,962
                                        =======           =======

Capital and reserves
Called up share capital                  66,568            66,568
Share premium account                   205,541           205,541

Profit and loss account                (250,242)        (270,147)
                                        -------          --------
Shareholders' funds                      21,867             1,962
                                        =======          ========



STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
FOR THE YEAR ENDED 31 DECEMBER 2008

                                           2008              2007
                                                               as
                                                          restated

                                              £                 £

Profit/(loss) for the                    19,905           (22,991)
financial year

Prior year adjustment                   (67,000)                -

                                        -------           -------
Total gains and losses recognised
since last financial statements        (47,095)          (22,991)
                                        -------           -------


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2008

  1. The financial information set out in this announcement does not constitute
     statutory accounts. This financial information has been extracted from the
     audited full accounts of the Company for the year ended 31 December 2008.

  2. The financial statements are prepared in accordance with applicable United
     Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
     Practice), which have been applied consistently (except as otherwise stated).

  3. The directors do not recommend the payment of a dividend.

The Directors of the issuer accept responsibility for this announcement.

                                    --ENDS--



Enquiries:

Hyper Entertainment plc                Tel: 020 7025 8077
Wendy Rosenthal
www.hyperentertainment.com

Rivington Street Capital Finance       Tel: 020 7562 3389
Monisha Varadan          Eran Zucker
[email protected]        [email protected]                                                                          

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