RNS Number:4854J
Taurus Storage PLC
26 September 2006
TAURUS STORAGE PLC
26 September 2006
Sagittarius Professional Services PLC (the "Company")
INTERIM REPORT Six months ended 30 June 2006
CHAIRMAN'S STATEMENT
I am writing to you to advise that for the six months ended 30 June 2006 the
company made a loss of #31,938 and its loss per share is 0.05p.
Since my last statement the board have continued to evaluate a number of
opportunities, however, none were felt suitable enough to progress and this has
resulted under the AIM rules, in the suspension of Taurus from the listing.
Your Board continues to investigate opportunities and when something suitable
has been identified, I will write to you again.
LG Lipman
Chairman
26 September 2006
PROFIT AND LOSS ACCOUNT for the six months ended 30 June 2006
Notes Period from
incorporation on
14 January 2005 Period from
6 months ended to 14 January to
30 June 30 June 31 December
2006 2005 2005
(unaudited) (unaudited) (audited)
# # #
Administrative expenses (32,022) (32,022) (57,296)
_________________________________________________
OPERATING LOSS (32,022) (32,022) (57,296)
Interest receivable 84 297 590
_________________________________________________
LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION (31,938) (31,725) (56,706)
Taxation - - -
_________________________________________________
LOSS ON ORDINARY ACTIVITIES AFTER TAXATION (31,938) (31,725) (56,706)
_________________________________________________
LOSS PER ORDINARY SHARE
Basic and diluted 2 (0.05p) (0.06p) (0.10p)
_________________________________________________
BALANCE SHEET 30 June 2006
Notes 30 June 30 June 31 December
2006 2005 2005
(unaudited) (unaudited) (audited)
# # #
CURRENT ASSETS
Cash at bank and in hand 1,137 29,467 17,986
CREDITORS: amounts falling due within one year (33,589) (5,000) (18,500)
_____________________________________________
NET CURRENT (LIABILITIES)/ASSETS (32,452) 24,467 (514)
_____________________________________________
TOTAL ASSETS LESS CURRENT LIABILITIES (32,452) 24,467 (514)
_____________________________________________
CAPITAL AND RESERVES
Called up share capital 56,192 56,192 56,192
Profit and loss account (88,644) (31,725) (56,706)
_____________________________________________
EQUITY SHAREHOLDERS' (DEFICIT)/FUNDS 3 (32,452) 24,467 (514)
_____________________________________________
CASH FLOW STATEMENT for the six months ended 30 June 2006
Notes Period from
incorporation on
14 January 2005 Period from
6 months ended to 14 January to
30 June 30 June 31 December
2006 2005 2005
(unaudited) (unaudited) (audited)
# # #
Net cash outflow from operating activities 4 (16,933) (22,022) (33,796)
Returns on investments and servicing of finance 84 297 590
__________________________________________________
CASH OUTFLOW BEFORE FINANCING (16,849) (21,725) (33,206)
Financing - 51,192 51,192
__________________________________________________
(DECREASE)/INCREASE IN CASH IN THE PERIOD (16,849) 29,467 17,986
__________________________________________________
RECONCILIATION OF NET CASH FLOW TO MOVEMENT
IN NET FUNDS
(Decrease)/Increase in cash in the period (16,849) 29,467 17,986
OPENING NET FUNDS 17,986 - -
__________________________________________________
CLOSING NET FUNDS 1,137 29,467 17,986
__________________________________________________
NOTES TO THE INTERIM FINANCIAL INFORMATION for the six months ended 30 June 2006
1 BASIS OF PREPARATION
The financial information contained in this interim report does not
constitute statutory accounts within the meaning of section 240 Companies
Act 1985. The figures for the period ended 31 December 2005 have been
extracted from the audited statutory accounts. The interim results, which
have not been audited or reviewed by the group's auditors, have been
prepared using accounting policies consistent with those used in the
preparation of the annual report and accounts for the year ended 31
December 2005. Those accounts received an unqualified auditors' report
which did not contain a statement under section 237 (2) or (3) Companies
Act 1985.
The financial information has been prepared on the going concern basis
because the company has received confirmation from Safeland plc that it
will provide financial support for at least 12 months from the date of
approval of this financial information.
The interim report was approved by the Board of Directors on 26 September
2006.
Copies of this statement are available to the public for collection at the
company's Registered Office at 94-96 Great North Road, London N2 0NL.
2 LOSS PER SHARE
The loss per share for the period is calculated based upon the following
information:
Period from Period from
6 months ended 14 January 2005 to 14 January to
30 June 30 June 31 December
2006 2005 2005
(unaudited) (unaudited) (audited)
Weighted average number of shares in 56,191,902 52,907,018 54,619,243
issue during the period
______________________________________________________
Weighted average number of dilutive
share options in issue during the
period - - -
______________________________________________________
3 RECONCILIATION OF MOVEMENT IN EQUITY SHAREHOLDERS' (DEFICIT)/ FUNDS
Period from
14 January 2005 Period from
6 months ended to 14 January to
30 June 30 June 31 December
2006 2005 2005
(unaudited) (unaudited) (audited)
# # #
Retained loss for the period (31,938) (31,725) (56,706)
Issue of shares on incorporation - 51,192 51,192
Issue of share in period - 5,000 5,000
________________________________________________
Net addition to equity shareholders' (deficit)/funds (31,938) 24,467 (514)
Opening equity shareholders' (deficit)/funds (514) - -
________________________________________________
Closing equity shareholders' (deficit)/funds (32,452) 24,467 (514)
________________________________________________
4 RECONCILIATION OF OPERATING LOSS TO NET CASH FLOW FROM OPERATING ACTIVITIES
Period from
14 January 2005 Period from
6 months ended to 14 January to
30 June 30 June 31 December
2006 2005 2005
(unaudited) (unaudited) (audited)
# # #
Operating loss (32,022) (32,022) (57,296)
Increase in creditors 15,089 5,000 18,500
Shares issued to settle expenses - 5,000 5,000
________________________________________________
Net cash flow from operating activities (16,933) (22,022) (33,796)
________________________________________________
This information is provided by RNS
The company news service from the London Stock Exchange
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