WORLDWIDE FINANCIALS NEWS
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12TH MARCH '10
Blue Planet Worldwide Financials - Interim report to 31 Jan 2010 (Part 2)
Balance Sheet (Unaudited)
At 31 January At 31 January At 31 July
2010 2009 2009
(£) (£) (£)
Fixed assets
Equity investments 13,026,647 6,517,332 11,962,533
Non - Equity investments - 995,070 -
13,026,647 7,512,402 11,962,533
Current assets
Debtors 3,566,684 1,917,836 78,216
Cash at bank and in hand 11,353,141 2,498,448 3,821,813
Creditors: amounts falling due (15,374,127) (3,429,825) (4,724,165)
within one year (note 7)
Net current assets/ (liabilities) (454,302) 986,459 (824,136)
Net assets 12,572,345 8,498,861 11,138,397
Capital and reserves
Called-up share capital 7,142,859 7,142,859 7,142,859
Share premium account 6,021,360 6,021,360 6,021,360
Other reserves:
Capital reserve - realised 1,455,649 6,401,349 4,422,077
Capital reserve - investment (2,002,765) (11,045,384) (6,744,588)
holding losses
Revenue reserve (44,758) (21,323) 296,689
Shareholders' funds 12,572,345 8,498,861 11,138,397
Net asset value per ordinary share 89.32p 60.38p 79.13p
- (note 4)
Statement of directors' responsibilities:
The Directors confirm that this set of condensed financial statements has been
prepared in accordance with the ASB's Statement " Half Yearly Financial
Reports" and that the interim management report herein includes a fair review
of the information required by DTR 4.2.7 and DTR 4.2.8.
On behalf of the Board
Philip Court
Chairman
17 March 2010
Income Statement (Unaudited)
For the six months ended 31 For the six months ended 31 For the year ended 31
January 2010 January 2009 July 2009
Revenue Capital Total Revenue Capital Total Revenue Capital Total
(£) (£) (£) (£) (£) (£) (£) (£) (£)
Capital gains/
(losses)on investment
Net realised
losses - (2,644,892) (2,644,892) - (4,605,562) (4,605,562) - (6,316,149) (6,316,149)
Unrealised
gains/( losses) - 4,724,888 4,724,888 - (4,361,462) (4,361,462) - 50,909 50,909
Exchange
losses - (149,043) (149,043) - (218,354) (218,354) - (513,686) (513,686)
Net Capital gains/
(losses)on investment - 1,930,953 1,930,953 - (9,185,378) (9,185,378) (6,778,926) (6,778,926)
Income from
investments 126,628 - 126,628 228,478 - 228,478 841,603 - 841,603
Bank interest
receivable 3,404 - 3,404 14,587 - 14,587 16,102 - 16,102
Gross revenue
and capital
gains/(losses) 130,032 1,930,953 2,060,985 243,065 (9,185,378) (8,942,313) 857,705 (6,778,926) (5,921,221)
Administrative
expenses (232,530) (91,840) (324,370) (203,589) (62,275) (265,864) (417,811) (120,667) (538,478)
Net return
before interest
payable and
taxation (102,498) 1,839,113 1,736,615 39,476 (9,247,653) (9,208,177) 439,894 (6,899,593) (6,459,699)
Interest
payable (63,718) (63,718) (127,436) (70,350) (70,350) (140,700) (96,886) (96,886) (193,772)
Return on
ordinary activities
before taxation (166,216) 1,775,395 1,609,179 (30,874) (9,318,003) (9,348,877) 343,008 (6,996,479) (6,653,471)
Taxation on
ordinary activities
(note 3) (6,317) - (6,317) (613) - (613) (56,484) - (56,484)
Return on ordinary
activities after
taxation (172,533) 1,775,395 1,602,862 (31,487) (9,318,003) (9,349,490) 286,524 (6,996,479) (6,709,955)
Return per
ordinary share -
(note 4) (1.23)p 12.61p 11.39p (0.22)p (65.82)p
The Total column of the income statement represents the profit & loss account
of the Company.
All revenue and capital items in the above statement derive from continuing
operations.
There were no recognised gains and losses other than those disclosed above.
Accordingly a statement of total recognised gains and losses is not required.
Cash Flow Statement (Unaudited)
For the six For the six For the year
months ended 31 months ended 31 ended 31 July
January 2010 January 2009 2009
(£) (£) (£)
Operating activities
Investment income received 119,865 275,702 897,342
Interest received 3,158 14,587 16,102
Investment management and (218,576) (182,193) (337,810)
administration fees paid
Cash paid to and on behalf of (22,000) (24,037) (43,900)
directors
Other cash payments (71,077) (70,495) (162,878)
Refund of VAT - 405,000 405,000
Net cash (outflow)/inflow from (188,630) 418,564 773,856
operating activities (note6)
Servicing of finance
Interest paid (122,451) (160,307) (206,757)
Taxation
Taxation recovered - - 6,516
Capital expenditure and
financial investment
Purchase of investments (41,751,474) (28,464,808) (79,475,462)
Sale of investments 46,778,176 33,220,532 84,248,767
Cash inflow before financing 4,715,621 5,013,981 5,346,920
Equity dividend paid (note 5) (168,914) (457,167) (457,167)
Management of liquid resources
Cash (placed) on/withdrawn from (6,527,760) 1,019,629 (306,871)
deposit
Financing
Advanced/(repayment) of loan 3,133,663 (4,390,156) (3,266,640)
Purchase of treasury shares - (83,948) (83,948)
Increase in cash 1,152,610 1,102,339 1,232,294
Reconciliation of Movements in Shareholders' Funds (Unaudited)
For the six months ended 31 January 2010
Capital
reserve-
Capital investment Total
Share Share reserve- holding Revenue shareholders'
capital premium realised losses reserve funds
£ £ £ £ £ £
Shareholders' funds 7,142,859 6,021,360 4,422,077 (6,744,588) 296,689 11,138,397
at 1 August 2009
Dividend paid during - - - - (168,914) (168,914)
the period
Return on ordinary - - (2,966,428) 4,741,823 (172,533) 1,602,862
activities after
taxation
Shareholders' funds 7,142,859 6,021,360 1,455,649 (2,002,765) (44,758) 12,572,345
at 31 January 2010
