Kayser Bondor Ld
26 October 2001
At a Board Meeting held on 26 October 2001, the Preliminary Announcement for the
eighteen months ended 30 June 2001 was approved.
Howard Rubenstein
Company Secretary
Tel. 01753 508022
Kayser Bondor Limited
Preliminary Announcement
30 June 2001
Explanatory Statement
The directors present their preliminary announcement for the eighteen months
ended 30 June 2001.
These accounts are not the company's statutory accounts. The auditors have not
yet reported on the accounts for the period ended 30 June 2001, 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 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.
Dividends
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
Directors.
By order of the Board
H Rubenstein
Secretary
26 October 2001
Profit and Loss Account
For the 18 months ended 30 June 2001 Notes 18 months 12 months
ended ended
30 June 31 December
2001 1999
£'000 £'000
Interest receivable from group undertakings 381 254
Profit before taxation 381 254
Taxation - -
Profit after taxation 381 254
Preference dividend paid - non-equity 2 (68) (45)
Profit attributable to ordinary shareholders 313 209
Basic and diluted earnings per share 3 1.30 p 0.87 p
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.
Balance Sheet 30 June 31 December
As at 30 June 2001 2001 1999
£'000 £'000
Current assets
Debtors 10,454 10,141
Creditors: amounts falling due within one year (115) (115)
Net current assets 10,339 10,026
Capital and reserves
Called up share capital 6,756 6,756
Profit and loss account 3,583 3,270
Shareholders' funds:
Equity 9,589 9,276
Non-equity 750 750
10,339 10,026
Cash Flow Statement
For the 18 months ended 30 June 2001 18 months 12 months
ended ended
30 June 31 December
2001 1999
£'000 £'000
Net cash outflow from operating activities:
Operating profit - -
Increase in debtors (313) (174)
(313) (174)
Returns on investments and servicing of finance:
Interest received 381 254
Non-equity dividends paid (68) (45)
313 209
Taxation
Taxation paid - (35)
Movement in cash - -
Notes to the Accounts
As at 30 June 2001
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%), 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 £313,000 (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
share.