RNS Number:8232H
G.R. Holdings PLC
15 November 2007
G.R. (Holdings) plc
Consolidated Profit and Loss Account
For the year ended 30 June 2007
2007 2006
# # #
Turnover 677,044 1,037,090
Operating loss before: (311,279) (258,243)
(Loss) / profit on disposal of US investments (3,556) 214,924
Profit on disposal of investments and fixed 166,289 44,963
assets
Adjustment to provision against investments - 245,130
(Loss) / profit on ordinary activities before (148,546) 246,774
interest
Interest receivable and similar income 125,748 529,552
Interest payable and similar charges (1,066) (1,754)
Dividend paid on preference shares (162,761) (162,761)
(38,079) 365,037
(Loss) / profit on ordinary activities before (186,625) 611,811
taxation
Tax on (loss) / profit on ordinary activities 103,764 119,789
(Loss) / profit for the financial year (82,861) 731,600
Earnings per share (0.6)p 5.5p
G.R. (Holdings) plc
Consolidated Balance Sheet
As at 30 June 2007
2007 2006
# # #
Fixed assets
Intangible assets 1 1
Tangible assets 537.494 542,329
Investments 846.912 1,245,318
1,384,407 1,787,648
Current assets
Stocks 76.055 81,929
Debtors 153.584 123,043
Cash at bank and in hand 3,030,554 3,218,046
3,260,193 3,423,018
Creditors : amounts falling due
within one year 119,917 210,674
Net current assets 3,140,276 3,212,344
Total assets less current liabilities 4,542,683 4,999,992
Creditors : amounts falling due after
more than one year 1,553,928 1,557,662
2,970,755 3,442,330
Capital and reserves
Called up share capital 658,405 658,405
Capital redemption reserve 425,000 425,000
Revaluation reserve 843,141 1,055,526
Share premium account 198,396 198,396
Profit and loss account 845,813 1,105,003
Shareholders funds 2,970,755 3,442,330
G.R (Holdings) plc
Notes:
1. The summary of results for the year ended 30 June 2007 does not constitute
full financial statements within the meaning of Section 240 of the
Companies Act 1985.
2. The board has decided to declare a final dividend of 1.0p, (2006 - 1.0p)
for the year ending 30 June 2007 on the ordinary shares of the company.
This will be paid on 4 January 2008 to those shareholders on the Register
of Members on 30 November 2007.
3. The calculation of earnings per share is based on a loss of #82,861 (2006:
#731,600 profit) being the profit after taxation and after deducting
preference dividends, and on 13,168,100 ordinary shares of 5p each (2006:
13,168,100).
4. The Annual General Meeting will be held at 11.30am on 20 December 2007 at
the offices of Evolution Securities Limited, 100 Wood Street, London
EC2V 7AN.
5. Copies of the 2007 Report and Accounts are being sent to shareholders in
due course. Further copies are available from the Company's registered
office at 7 Queripel House, 1 Duke of York Square, London SW3 4LY.
G.R. (HOLDINGS) PLC
PRELIMINARY ANNOUNCEMENT OF FINAL RESULTS
FOR THE YEAR ENDED 30 JUNE 2007
CHAIRMAN'S STATEMENT
The pre-tax loss of the group on ordinary activities for the year ended 30 June
2007 was #186,625 (2006 - #611,811 profit). After taxation, the loss
attributable to members of the company is #82,861 against a profit #731,600 for
the previous year. The turnover decreased from #1,037,090 to #677,044, primarily
due to the loss of a large contract in March 2006.
Morland's turnover fell by approximately 35%, which resulted in a loss for the
year of #77,968.
During the year, four of the partnerships in land in the USA disposed of the
entirety of their holding, of which partial sales had been made in previous
years in all of these partnerships. These disposals, of #102,845 have resulted
in a loss of #3,556. We were still involved as limited partners in four
partnerships. Of these remaining four partnerships amounting to #278,643, one
constitutes over 75% of the total value. This investment has been held since
December 1987 and no serious offers for it have been received to date.
At the year end, our stock decreased by #5,874. Debtors have increased by
#30,541 whilst creditors have decreased by #94,491. Net cash at bank and in hand
has decreased by #187,492 to #3,030,554.
During the year, a sale was completed by a property company in which Mintbay
Limited has a 50% interest, resulting in the group achieving the value stated in
the balance sheet in the 2006 accounts, which was reported in my statement last
year.
Overall, I am pessimistic regarding the trading results for the current year,
however, we are actively pursuing the disposal of some of our non-core UK
assets.
Finally, I would like to thank my co-director and all the staff for their
support and efforts during the year.
A.D. Stalbow
Chairman
15 November 2007
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR BABITMMJBBMR
G.R.(Hldgs) (LSE:GRH)
Historical Stock Chart
From Apr 2024 to May 2024
G.R.(Hldgs) (LSE:GRH)
Historical Stock Chart
From May 2023 to May 2024
