Interim Results
23 Janvier 2004 - 5:16PM
UK Regulatory
RNS Number:5989U
Weatherly International PLC
23 January 2004
Announcement
Weatherly International PLC
The following comprises the Weatherly International PlC interim results for the
six months period ended 30 June 2003. Along with the Year End Accounts to 31
December 2002, these will be posted to Shareholders on Monday 26th January and
further hard copies will be available c/o Merchant Capital PLC at Aldermary
House, 10-15 Queen Street, London, EC4N 1TX.
WEATHERLY INTERNATIONAL PLC
INTERIM RESULTS
FOR THE SIX MONTHS PERIOD ENDED 30 JUNE 2003
CHAIRMAN'S STATEMENT
The interim results for the Company cover a period throughout which the Company
had no trading activity, its operating subsidiary - Weatherly Securities
Corporation - having ceased trading in August 2002.
The events occurring since the Company's last interim statement are fully
covered by my Statement and the Directors' report published with the audited
accounts for the year to 31 December 2002, also announced today. The publication
of those accounts and the announcement of these interim figures are necessary
conditions for the lifting of the suspension of the Company's shares from
trading on AiM. As also stated elsewhere, the Company has raised #250,000 by way
of a placing conditional upon the admission of the new shares to trading on AiM
in the near future.
Jack Najarian
Chairman
23 January 2004
WEATHERLY INTERNATIONAL PLC
PROFIT AND LOSS ACCOUNT
FOR THE SIX MONTH PERIOD ENDED 30 june 2003
6 months 12 months
30 June 2003 31 Dec 2002
Notes # #
Administrative expenses (13,961) (92,392)
_________ _________
Operating (loss) (13,961) (92,392)
Exceptional item 1 (14,979) (1,490,148)
_________ _________
(Loss) on ordinary activities before interest (28,940) (1,582,540)
Interest receivable 12 1,103
_________ _________
Loss on ordinary activities before taxation (28,928) (1,581,437)
Taxation - -
_________ _________
Loss on ordinary activities after taxation (28,928) (1,581,437)
Deficit at beginning of six months period (4,832,925) (3,251,488)
_________ _________
Deficit at end of six months period (4,861,853) (4,832,925)
_________ _________
Basic loss per share - (0.66)c
_________ _________
WEATHERLY INTERNATIONAL PLC
BALANCE SHEET AS AT 30 june 2003
6 months 12 months
30 June 2003 31 Dec 2002
Notes # #
CURRENT ASSETS
Debtors - 31,951
Cash at bank and in hand 34,581 31,432
_________ _________
34,581 63,383
CREDITORS (Amounts falling due within one year) 2 (82,978) (82,852)
_________ _________
NET CURRENT (LIABILITIES) (48,397) (19,469)
_________ _________
(48,397) (19,469)
_________ _________
CAPITAL AND RESERVES
Called up share capital 3 240,750 240,750
Share premium account 4,572,706 4,572,706
Profit and loss account - (Deficit) (4,861,853) (4,832,925)
_________ _________
TOTAL CAPITAL EMPLOYED (48,397) (19,469)
_________ _________
WEATHERLY INTERNATIONAL PLC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE SIX MONTHS PERIOD ENDED 30 june 2003
1. Exceptional items
Loss associated with liquidation of subsidiary. Write off of inter-company
balance.
2. Creditors (amounts falling due within one year)
6 months 12 months
30 June 2003 31 Dec 2002
# #
Trade creditors 82,978 82,852
_________ _________
3. Called Up Share Capital
6 months 12 months
30 June 2003 31 Dec 2002
# #
Authorised Share Capital
500,000 Ordinary Shares of #0.1p each 500,000 500,000
_________ _________
Allotted, called up and fully paid
240,750 Ordinary Shares of #0.1p each 240,750 240,750
_________ _________
4. Basis of preparation
The interim accounts, which are unaudited, have been prepared in accordance with
the accounting policies adopted by the company as set out in its Annual Report
and accounts for the year ended 31 December 2002. the information for the year
ended 31 December 2002 has been abridged from the financial statements of the
company for that year, which carry an unqualified auditors report.
This information is provided by RNS
The company news service from the London Stock Exchange
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