Kayser Bondor Ld
25 October 2002
Letter to RNS
At Board Meetings held on 24 October 2002 for each of the following companies:
Courtaulds Clothing Brands Limited
Kayser Bondor Limited
Wilkinson & Riddell (Holdings) Limited
the Preliminary Announcement for the year ended 30 June 2002 was approved.
Please note the following changes to directors of the above companies which have
taken place:
Julia Ruth Wilson, Director, resigned 14 June 2002;
Hugh Brian Duffy, Director, resigned 30 June 2002;
Michael Ellis was appointed as Director 12 June 2002; and
Eliaz Poleg was appointed as Director 12 July 2002. Mr Poleg is also a director
of Sara Lee UK Holdings PLC.
From SaraLee UK Holdings
KAYSER BONDOR LIMITED
Preliminary Announcement
30 June 2002
Explanatory Statement
The directors present their preliminary announcement for the year ended 30 June
2002.
These accounts are not the company's statutory accounts. The auditors have not
yet reported on the accounts for the year ended 30 June 2002, nor have any such
accounts been delivered to the Registrar of Companies. However, the audit work
is completed and no qualification is expected.
The comparative figures contained in this report are for the eighteen month
period ended 30 June 2001. These figures (with the exception of the cash flow
statement from which the company was exempt under FRS 1) have been extracted
from the statutory accounts which have been filed with the Registrar of
Companies. The auditors' report on those accounts was unqualified and did not
contain any statement under section 237(2) or (3) of the Companies Act 1985.
Review of the business
The results for the year are shown in the profit and loss account. The company
did not trade during the year and results are consistent with the corresponding
prior period.
Dividends
The directors do not recommend the payment of an ordinary dividend (2001: £nil).
The contents of this report have been reviewed and approved by the Board of
Directors.
By order of the Board
H Rubenstein
Secretary
24 October 2002
KAYSER BONDOR LIMITED
Preliminary Announcement
Profit and Loss Account
For the year ended 30 June 2002 Notes Year ended 18 months ended
30 June 30 June
2002 2001
£'000 £'000
Interest receivable from group undertakings 254 381
Profit before taxation 254 381
Taxation - -
Profit after taxation 254 381
Preference dividend paid - non-equity 2 (45) (68)
Profit attributable to ordinary shareholders 209 313
Basic and diluted earnings per share 3 0.87p 1.30p
Continuing operations
The company did not trade during the period.
Statement of total recognised gains and losses
There are no movements in total recognised gains or losses or shareholders'
funds other than those reported in the profit and loss account above.
KAYSER BONDOR LIMITED
Preliminary Announcement
Balance Sheet
As at 30 June 2002
2002 2001
£'000 £'000
Current assets
Debtors 10,663 10,454
Creditors: amounts falling due within one year (115) (115)
Net current assets 10,548 10,339
Capital and reserves
Called up share capital 6,756 6,756
Profit and loss account 3,792 3,583
Shareholders' funds:
Equity 9,798 9,589
Non-equity 750 750
10,548 10,339
KAYSER BONDOR LIMITED
Preliminary Announcement
Cash Flow Statement
For the year ended 30 June 2002 Year ended 18 months ended
30 June 30 June
2002 2001
£'000 £'000
Net cash outflow from operating activities:
Operating profit - -
Increase in debtors (209) (313)
(209) (313)
Returns on investments and servicing of finance:
Interest received 254 381
Non-equity dividends paid (45) (68)
209 313
Movement in cash - -
The above balances are settled through a parent company bank account which is
part of the Sara Lee UK Holdings Plc group banking scheme. In the company
accounts the transactions are accounted for via movements in inter-company
balances.
KAYSER BONDOR LIMITED
Preliminary Announcement
Notes to the Accounts
As at 30 June 2002
1. Accounting policies
i. Basis of preparation
These unaudited results have been prepared in accordance with the
accounting policies set out in the Annual Report for the eighteen month
period ended 30 June 2001, subject to changes required as a result of the
subsequent issue of FRS 18 and FRS 19. FRS 18 'Accounting Policies' has
been applied in the financial statements for the current year. This has not
resulted in any changes in accounting policies.
ii. Change in accounting policy - Deferred Taxation
FRS 19 'Deferred Taxation' has been adopted for the first time by the
company in the year ended 30 June 2002. In previous years the company
complied with Statement of Standard Accounting Practice 15 'Deferred
Taxation' which has now been superseded by the introduction of FRS 19,
which requires a form of full provisioning (see taxation policy note).
There has been no effect of the implementation of FRS 19 on reported
results.
iii. Taxation
Corporation tax is provided at amounts expected to be paid or recovered
using the tax rates and laws that have been enacted or substantially
enacted by the balance sheet date. Deferred taxation is provided on timing
differences, arising from the different treatment for financial statements
and taxation purposes of events and transactions recognised in the
financial statements of the current and previous years. Deferred taxation
is calculated at the rates at which it is estimated that it will arise.
Deferred taxation balances are not discounted. Deferred taxation assets are
recognised to the extent that it is regarded as more likely than not that
there will be suitable taxable profits against which deferred taxation
assets can be recovered in future periods.
2. Dividends
No dividends were paid or proposed on the ordinary share capital. The rate
of preference dividend is 6% (2001: 6%), paid half yearly on 30 June and
31 December.
3. Earnings per share
The calculation of basic and diluted earnings per share is based on the
profit attributable to ordinary shareholders of £209,000 (2001: £313,000)
and on 24,023,440 (2001: 24,023,440) shares, being the weighted average
number of shares in issue during the period. There is no dilution of
earnings per share.
This information is provided by RNS
The company news service from the London Stock Exchange
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