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Kayser Bondor Ld. (62HF)


Thursday 29 March, 2001

Kayser Bondor Ld.

Interim Report

Kayser Bondor Ld
28 March 2001


Interim Report

Explanatory Statement

The directors present their interim report for the twelve months ended 31
December 2000.

These accounts are not the company's statutory accounts as the company's
accounting reference date has been changed to 30 June. The next statutory
accounts will be for the 18 month period ended 30 June 2001.

The comparative figures contained in this report are for the year ended 31
December 1999. These figures (with the exception of the cash flow statement from
which the company was exempt under FRS1) 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 period are shown in the profit and loss account. The company
did not trade during the period and results are consistent with the
corresponding prior year period. This trend is anticipated to continue for the
remainder of the year, subject to any unforeseen circumstances.


The directors do not recommend the payment of an ordinary dividend (1999: £nil).

The contents of this report have been reviewed and approved by the Board of

By order of the Board
H Rubenstein

26 March 2001

Interim Report

Profit and Loss Account
For the 12 months ended 31 December 2000
                                              Notes  12 months ended 31 December
                                                                2000       1999
                                                               £'000      £'000

Interest receivable from group undertakings                      254        254

Profit before taxation                                           254        254

Taxation                                                           -          -

Profit after taxation                                            254        254

Preference dividend paid - non-equity            2               (45)       (45)

Profit attributable to ordinary shareholders                     209        209

Basic and diluted earnings per share             3               0.87p   0. 87p

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.

Interim Report

Balance Sheet
As at 31 December 2000                                        As at 31 December
                                                             2000          1999
                                                            £'000         £'000

Current assets
 Debtors                                                   10,350       10,141

Creditors: amounts falling due within one year               (115)        (115)

Net current assets                                         10,235       10,026

Capital and reserves
 Called up share capital                                    6,756        6,756
 Profit and loss account                                    3,479        3,270

Shareholders' funds:
 Equity                                                     9,485        9,276
 Non-equity                                                   750          750

                                                           10,235       10,026

Interim Report

Cash Flow Statement
For the 12 months ended 31 December 2000            

                                                   12 months ended 31 December
                                                               2000       1999
                                                              £'000      £'000

Net cash outflow from operating activities:
 Operating profit                                                 -          -
 Increase in debtors                                           (209)      (174)

                                                               (209)      (174)

Returns on investments and servicing of finance:
 Interest received                                              254        254
 Non-equity dividends paid                                      (45)       (45)

                                                                209        209

 Taxation paid                                                    -        (35)

Movement in cash                                                  -          -

Interim Report

Notes to the Accounts 
As at 31 December 2000

1. Basis of preparation

   The unaudited results have been prepared in accordance with the accounting
   policies set out in the Annual Report for the year ended 31 December 1999.

2. Dividends 

   No dividends were paid or proposed on the ordinary share capital.
   The rate of preference dividend is 6% (1999: 6%).

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 (1999: £209,000) and
   on 24,023,440 (1999: 24,023,440) shares, being the weighted average number of
   shares in issue during the period. There is no dilution of earnings per      

4. Audit and review 

   The interim figures for the period are neither audited nor reviewed.

5. Publication 

   The interim report will be posted to stock holders and will not be published 
   in newspapers. Copies of the interim report are available for issue to the   
   public on application to the Company Secretary at the registered office: 

                           225 Bath Road 
                           SL1 4AU


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