Three's A Crowd Plc
("Three's A Crowd" or "The Company")
UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENT FOR THE SIX MONTH
PERIOD TO 31 MAY 2009
Highlights:
* Consolidated loss of £84,596 for the six months ended 31 May 2009
(30/11/2008: loss of £93,367)
CHAIRMAN'S STATEMENT
I am pleased to present the Interim results for Three's A Crowd
(PLUS: TACP).
Review of Activities
Three�s A Crowd was a very small company when it listed and has gone
through various stages. This year has been a pivotal turning point
for us as the remaining board realised the modus operandi of the
company had to be seriously revisited.
We have completely restructured the Company as a result to focus
purely on events and sponsorship and have had our most successful
year to date; both in the prestigious clients we have worked with and
the level of events we have grown into.
We landed a large contract for the Company, introducing Play.com as
lead sponsor of the Take That tour throughout the UK and managing
Play.com�s branding and marketing presence throughout. The turnover
from this was split by our Year End 31 March 2009. As a result, using
this year end date meant that it was not a true reflection of our
business. Consequently we are moving our year end to 31 December to
more accurately reflect growth in the business. We have already
changed the year end from 31 May to 30 November and it is the
intention to change to 31 December next year.
We have simplified our operating model. We have disposed of in-house
production company Smoking Gun Events Limited and we have
incorporated Feast Films into our events business.
Three's A Crowd has made the transition into a full service
multimedia creative company, with a full roster of events/products
and clients for 2010 and beyond.
To understand more about the activities of the Company and our events
in the last six months our showreel is available on our website
www.3sacrowd.com <
http://www.3sacrowd.com> .
Financial Overview
As at 31 May 2009, shareholders' funds were in a deficit position of
£8,013, which includes a deficit of £28,614 in relation to Smoking
Gun Design Limited, which has recently been sold for £1 with all of
the assets and liabilities related thereto. Ignoring the net
deficiency on Smoking Gun Design Limited would mean that at 31 May
2009 the remaining companies within the group had consolidated
shareholders' funds of £20,601. As at 31 May 2009 the group had cash
balances of £220,078 and had no debts other than trade creditors.
The loss before tax for the six month period amounted to £84,596, of
which £18,060 was attributable to Smoking Gun Design Limited.
Outlook
The Directors would like to take this opportunity to thank our
shareholders and staff for their continued support and efforts during
the period and are confident that the Company's progress can be
continued over the next reporting period. The Directors will
continue to seek further opportunities to enhance the value of the
business.
Mark Emms
Chief Executive
THREE'S A CROWD PLC
Interim unaudited consolidated financial statements for the period
ended 31 May 2009.
Unaudited Consolidated Profit & Loss Account
Unaudited Unaudited Audited
period ended Period ended Year ended
31 May 30 November 31 May
2009 2008 2008
£'000 £'000 £'000
484 84 381
Turnover
(423) (77) (283)
Cost of sales
Gross profit 61 7 98
(4) - -
Distribution costs
(142) (230) (347)
Administration expenses
Exceptional item - Share - 129 (190)
based payment charge
Loss on ordinary activities (85) (94) (439)
before taxation
Other income: - 1 5
Bank interest receivable
Loss on ordinary activities (85) (93) (434)
before taxation
Taxation - - -
Loss on ordinary activities (85) (93) (434)
after taxation
Loss attributable to Parent (82) (91) (434)
Minority Interest (3) (2) -
Unaudited Consolidated Balance Sheet as at 31 May 2009
Unaudited Unaudited Audited
As at As at As at
31 May 30 November 30 May
2009 2008 2008
£'000 £'000 £'000
Fixed assets
Goodwill 109 115 109
Plant and equipment 9 11 10
Total fixed assets 118 126 119
Current assets
Debtors 111 51 67
Cash at bank 220 18 126
Total Current Assets 331 69 193
Creditors: amounts falling due (457) (118) (89)
within one year
Net Current (Liabilities)/Assets (126) (49) 104
Total Assets less Current Assets (8) 77 223
Capital & Reserves
Share capital 390 390 353
Share premium 153 153 115
Minority interest (5) (2) -
Share based payment reserves 61 61 190
Profit & loss account (607) (525) (435)
Total Shareholders' Funds (8) 77 223
Notes
1. While the financial information included in this
announcement has been computed in accordance with International
Financial Reporting Standards (IFRS), this announcement does not
itself contain sufficient information to comply with IFRS. The full
financial statements of the company will be prepared in accordance
with IFRS, International Accounting Standards and their
interpretations issued or adopted by the International Accounting
Standards Board as adopted for use in the European Union.
2. The financial information has not been audited or reviewed
by the auditors, or extracted from audited information. This
financial statement does not constitute statutory accounts within the
meaning of Section 435 of the Companies Act 2006 (the "Act").
The directors of the issuer accept responsibility for this
announcement.
Note to editors:
Three's A Crowd plc (PLUS: TACP) was floated on PLUS markets in
November 2007. The company is an organiser of charity and corporate
events and operates an online lifestyle portal, www.3sacrowd.com.
CONTACT DETAILS:
COMPANY:
Mark Emms Tel: 020 7242 6163
Three's A Crowd plc.
CORPORATE ADVISOR:
Gary Miller Tel: 020 388 7000
Fisher Corporate Plc
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