11. Impact of IFRS 11

The effect of IFRS 11 on the December 13 comparatives is shown below:

 
                                            31-Dec-13         31-Dec-13         31-Dec-13 
                                             Restated         Published          Movement 
                                             GBP 000s          GBP 000s          GBP 000s 
 Revenue                                       45,275            45,513             (238) 
 Cost of sales                               (17,944)          (18,072)               128 
--------------------------------------  -------------  ----------------  ---------------- 
 Gross profit                                  27,331            27,441             (110) 
 Operating expenses                          (13,971)          (14,081)               110 
 Share of joint venture profits / 
  (losses)                                       (48)                 -              (48) 
--------------------------------------  -------------  ----------------  ---------------- 
 Operating profit                              13,312            13,360              (48) 
 Finance costs                                (1,303)           (1,351)                48 
--------------------------------------  -------------  ----------------  ---------------- 
 Profit on ordinary activities before 
  taxation                                     12,009            12,009                 - 
 Taxation                                     (2,425)           (2,425)                 - 
--------------------------------------  -------------  ----------------  ---------------- 
 Profit for the year attributable 
  to equity shareholders                        9,584             9,584                 - 
--------------------------------------  -------------  ----------------  ---------------- 
 
 
                                            31-Dec-13         31-Dec-13         31-Dec-13 
                                             Restated         Published          Movement 
                                             GBP 000s          GBP 000s          GBP 000s 
 Intangible assets                             87,111            89,061           (1,950) 
 Joint Venture Investment                         533                 -               533 
 Joint Venture Receivable                       1,462                 -             1,462 
 Other non-current assets                       1,035             1,035                 - 
--------------------------------------  -------------  ----------------  ---------------- 
 Non-current assets                            90,141            90,096                45 
 Current assets                                16,796            16,895              (99) 
--------------------------------------  -------------  ----------------  ---------------- 
 Total assets                                 106,937           106,991              (54) 
--------------------------------------  -------------  ----------------  ---------------- 
 
 Equity                                        64,668            64,668                 - 
 Non-current liabilities                       27,374            27,374                 - 
 Current liabilities                           14,895            14,949              (54) 
--------------------------------------  -------------  ----------------  ---------------- 
 Total equity and liabilities                 106,937           106,991              (54) 
--------------------------------------  -------------  ----------------  ----------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

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