Information  X 
Enter a valid email address

Three's A Crowd Plc (TACP)


Friday 17 December, 2010

Three's A Crowd Plc

Half-yearly Report

Three's A Crowd Plc ("Three's A Crowd" or "The Company")

31 MAY 2010


Consolidated pre-tax loss of £1,910 for the six months ended 31 May 2010 
(31/05/2009 loss of £84,596)


This Interim Statement for the six months ending 31 May 2010 reflects the
aggressive downsizing undertaken by the Board to reduce administrative costs
and streamline the Company to just one operating subsidiary.  As a result, the
Company is able to report a much reduced loss for the period.

However, the small loss achieved does not give a proper reflection of the
health of the Company. There are liabilities due for payment within twelve
months of £267,000 at a time when the Company's cash balance is minimal.


The Board is pleased to inform shareholders that it has managed to secure
funding for the company. However, the terms on which your Board has been able
to secure finance requires management to remove the operating business from the
quoted entity. This will also remove a sizable part of the accrued liabilities
within the Company.

A circular has been posted to shareholders today giving full details of the
proposals, which are subject to shareholder approval, that will enable the
survival of the Company and hence give shareholders some scope to recoup value.

Mark Emms

Chief Executive


Interim unaudited consolidated financial statements for the six months ended 31
May 2010.

Unaudited Consolidated Profit & Loss Account

                                       Unaudited       Unaudited         Audited
                                    Period ended    Period ended    Period ended
                                     31 May 2010     31 May 2009     30 Nov 2009
                                           £'000           £'000           £'000
Turnover                                     168             484             819
Cost of sales                               (73)           (423)           (727)
Gross profit                                  95              61              92
Distribution costs                             -             (4)               -
Administration expenses                     (97)           (142)           (643)
Exceptional items:                                                              
Profit on disposal of discontinued             -               -              23
Share based payment charge                     -               -               -
Profit/(loss) on ordinary                    (2)            (85)           (528)
activities before taxation                                                      
Other income: bank interest                    -               -               1
Taxation                                       -               -             (1)
Profit/(loss) on ordinary                    (2)            (85)           (528)
activities after taxation                                                       
Profit/(loss) attributed to Parent           (2)            (82)           (522)
Minority interests                             -             (3)             (6)
Earnings per share                                                              
Basic                                   (0.002)p         (0.11)p         (0.68)p
Diluted                                 (0.002)p         (0.11)p         (0.68)p

Unaudited Consolidated Balance Sheet as at 31 May 2010

                                       Unaudited       Unaudited         Audited
                                    Period ended    Period ended    Period ended
                                     31 May 2010     31 May 2009     30 Nov 2009
                                           £'000           £'000           £'000
Fixed assets                                                                    
Goodwill                                       -             109               -
Plant & equipment                              8               9               7
Total fixed assets                             8             118               7
Current assets                                                                  
Debtors                                       34             111              36
Cash at bank                                   -             220               -
Total current assets                          34             331              36
Creditors: amounts falling due             (267)           (457)           (267)
within one year                                                                 
Net current liabilities                    (233)           (126)           (231)
Total assets less current                  (225)             (8)           (224)
Capital & reserves                                                              
Share capital                                390             390             390
Share premium                                153             153             153
Minority interests                             -             (5)             (1)
Share based payment reserve                  136              61             136
Profit & loss account                      (904)           (607)           (902)
Total shareholders' funds                  (225)             (8)           (224)


1. The financial information contained in this statement does not constitute

statutory accounts as defined in section 435 of the Companies Act 2006. These
statements, which are unaudited, have been prepared under the historical cost
convention. The financial information has not been reviewed by the Company's

2. The basic earnings per share is based on a loss of £1,910 and on 78,064,500
of weighted average ordinary shares in issue during the six months to 31 May
2010. As the company made a loss conversion of all potentially dilutive
ordinary shares, all of which arise from share warrants and options, is not
taken into account and diluted earnings per share are the same as basic.

3. Copies of the statement will be despatched to shareholders. A copy will also
be placed on the Company's website: Copies of this
announcement are available from: The Secretary, Three's A Crowd Plc, Suite 15,
4 Bloomsbury Square, London WC1A 2RP.

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.



Mark Emms Tel: 0845 1276 676
Three's A Crowd plc.

Rivington Street Corporate Finance
Eran Zucker
[email protected]
0207 562 3373


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