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Key Financial Data
Consolidated Revenue Statement
Consolidated Cash Flow Statement
Consolidated Revenue Statement
| For the year ended 30 September | 2011 |
2010 |
| £ | £ | |
| CONTINUING OPERATIONS | ||
| REVENUE | 2,173,757 | 1,472,311 |
| Cost of sales | (1,272,548) |
(665,828) |
| GROSS PROFIT | 901,209 |
806,483 |
| Administrative Expenses | (1,169,323) | (1,218,190) |
| OPERATING LOSS | (268,114) | (411,707) |
| Finance income | 875 | 1,565 |
| LOSS BEFORE TAXATION | (267,239) |
(410,142) |
| Taxation | 30,056 | 28,566 |
| LOSS FOR THE YEAR FROM CONTINUING OPERATIONS | (237,183) |
(381,576) |
| EARNINGS PER SHARE | 237,183 |
381,576 |
| Weighted average number of ordinary shares in issue | 65,418,617 | 54,490,656 |
| Basic and diluted loss per share | 0.36p | 0.65p |
Consolidated Balance Sheet
| As at 30 September | 2011 | 2010 |
| £ | £ | |
| NON-CURRENT ASSETS | ||
| Property, plant and equipment | 43,548 | 49,486 |
| Other intangible assets | - |
- |
| 43,548 |
49,486 | |
| CURRENT ASSETS | ||
| Inventories | 315,450 | 273,007 |
| Trade and other receivables | 566,632 | 319,740 |
| Cash and cash equivalents | 945,201 | 347,637 |
| Current tax assets | 29,474 |
27,943 |
| 1,856,757 |
968,327 | |
| TOTAL ASSETS | 1,900,305 |
1,017,813 |
| CURRENT LIABILITIES | ||
| Trade and other payables | 999,380 | 197,297 |
| Warranty provision | 29,449 | 6,490 |
| 1,028,829 |
203,787 | |
| NET ASSETS | 871,476 |
814,026 |
| EQUITY | ||
| Share capital | 762,679 | 612,679 |
| Share premium account | 7,501,105 | 7,361,105 |
| Retained earnings | (7,392,308) | (7,159,758) |
| TOTAL EQUITY ATTRIBUTABLE TO SHAREHOLDERS | 871,476 | 814,026 |
These financial statements were approved by the Board of Directors on 12th December 2011.
Signed on behalf of the Board of Directors
| Louise George | Nick Fox |
| Chief Executive Officer | Chief Technical Officer |
Consolidated Cash Flow Statement
| For the year ended 30 September | 2011 | 2010 |
| £ | £ | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Operating loss | (268,114) | (411,707) |
| Adjustments for: | ||
| Depreciation | 39,615 | 71,101 |
| Loss on sale of property, plant and equipment | - | 2,751 |
| (Increase)/decrease in inventories | (42,443) |
(40,415) |
| (Increase)/decrease in trade and other receivables | (246,892) | (103,279) |
| Increase/(decrease) in trade and other payables | 825,041 | (119,318) |
| Share-based payments | 4,633 | 4,904 |
| Net cash generated from / (used in) operating activities |
311,840 |
(595,963) |
| Corporation tax recovered | 28,525 | 30,526 |
| Net cash inflow / (outflow) from operating activities |
340,365 | (565,437) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Interest received | 875 |
1,565 |
| Purchase of property, plant and equipment | (35,731) |
(50,004) |
| Receipt from disposal of assets | 2,055 | - |
| Net cash generated from / (used in) investing activities |
(32,801) | (48,439) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Issue of ordinary share capital | 290,000 | 111,396 |
| Net cash from financing activities |
290,000 |
111,396 |
| NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS | 597,564 | (502,480) |
| Cash and cash equivalents at begining of the year | 347,637 | 850,117 |
| CASH AND CASH EQUIVALENTS AT END OF YEAR | 945,201 | 347,637 |
