Information  X 
Enter a valid email address

Talbex Group (The) plc (TALP)

  Print      Mail a friend

Friday 28 May, 2010

Talbex Group (The) plc

Final Results for year ended 31 December 2009

                                                                     28 May 2010

                              THE TALBEX GROUP PLC
          Final Results for year ended 31 December 2009

                              Chairman's Statement

Dear Shareholder

The  Board,  having reduced overheads to an absolute minimum, has  continued  to
look  for  trading concerns and opportunities to bring into the Group and  which
would justify the raising of new working capital.

Although  the  Board  has  had to terminate discussions  regarding  a  potential
acquisition your Board is continuing to investigate further opportunities  given
a general upturn in investor interest.

All Directors and a private individual have given an irrevocable undertaking  to
capitalise  their  loans to the Company subject to future  shareholder  approval
where  necessary.  The  resulting capitalisation will ensure  the  Group  has  a
positive Balance Sheet which should prove attractive to any third party  wishing
to acquire a quoted shell company with substantial agreed tax losses.


D M Billings
Chairman

28 May 2010

               CONSOLIDATED PROFIT AND LOSS ACCOUNT
               for the year ended 31 December 2009


                                                  2009        2008

                                                     £           £

Turnover from continuing operations                    -           -

Cost of sales                                          -           -
_______     _______
Gross profit                                           -           -

Administrative expenses                           (93,538)    (123,896)
                                                   _______     _______
Operating loss from continuing operations         (93,538)    (123,896)


Interest receivable                                 2,823          126
Interest payable                                        -      (19,424)
Profit on disposal of shares in subsidiaries            -            -
Profit on disposal of current asset investment          -            -
Fair  value adjustment to current asset investment (12,002)    (48,015)
                                                   _______     _______
Loss on ordinary
activities before taxation                        (102,717)   (191,209)

Taxation                                             -           -
                                                   _______     _______
Loss for the year                                 (102,717)   (191,209)
                                                    ======     ======

Basic loss per share                                (0.13p)     (0.25p)

There are no recognised gains or losses other than the profit or loss for the
above two financial years.

Movements in reserves are shown in the notes to the financial statements.

                    CONSOLIDATED BALANCE SHEET
                      as at 31 December 2009

                                    2009                 2008
                                 £        £           £        £
Fixed assets

Investments                               -                    -

Current assets

Debtors                        16,124               13,955
Investments                    72,508              108,261
Cash at bank and in hand          785                  611
                              _______              _______
                               89,417              122,827
Creditors: amounts falling
due within one year          (316,856)            (247,549)
                              _______              _______
Net current liabilities               (227,439)            (124,722)
                                       _______              _______
Net liabilities                       (227,439)            (124,722)
                                        ======              ======

Capital and reserves

Called up share capital                764,718             764,718
Share premium account                1,035,511           1,035,511
Profit and loss account             (2,027,668)         (1,924,951)
                                       _______             _______
Shareholders' equity interests
in deficiency                         (227,439)           (124,722)
                                        ======              ======


The financial statements were approved by the Board on 28 May 2010 and signed on
its behalf by

W A Kinnin
Director

CONSOLIDATED CASH FLOW STATEMENT
               for the year ended 31 December 2009

                                                   2009        2008
                                                    £           £

Reconciliation of operating loss to net
cash outflow from operating activities
Operating loss                                  (93,538)    (123,896)
(Increase)/decrease in debtors                   (2,169)     205,024
Decrease in current asset investments            23,751       11,838
Increase/(decrease) in creditors                 69,307     (103,271)
                                                 _______     _______
Net cash outflow from operating activities       (2,649)     (10,305)
                                                  ======      ======
Cash flow statement

Net cash outflow from operating activities       (2,649)   (10,305)
Returns on investments and servicing of finance   2,823    (19,298)
Capital receipts                                      -     25,000
                                                _______     _______
                                                    174     (4,603)
Issue of ordinary share capital for cash              -      4,000
                                                _______     _______
Increase/(decrease) in cash in the year             174       (603)
                                                 ======      ======

For further information:
Tony Haywood
The Talbex Group plc
01481 824 346

Gavin Burnell
St Helens Capital Partners LLP
020 7448 4400                                                                     

a d v e r t i s e m e n t