28th Sep 2010 17:09
Shellshock Limited announces results for the year ended 31 March 2010
Belize City, Belize, 28 September 2010 - Shellshock Limited (London-AIM: SHOK) ("Shellshock" or the "Company") reported net income of ₤37,000 for the year ended 31 March 2010 (2009 - net loss ₤134,000). Basic and diluted earnings per ordinary share for the year ended 31 March 2010 amounted to 0.62 pence (2009 - loss per share 2.23 pence).
The Company continues its search for investment opportunities in line with its stated strategy which includes possible investment in either one or more quoted or unquoted businesses that may have been set up by entrepreneurs with good strategic plans and need financial backing and the support of the experienced Shellshock management team.
The Company confirms that it has today posted the annual report to shareholders, copies of which are available on the Company's web site. Further details on the Company are set out in the Company's AIM Admission document dated 4 October 2007 and on the Company's web site.
For further information contact:
Shellshock Limited
Belize +501 223 5989
UK +44 (0)20 7248 6700
Note: This and other press releases are available at the Company's web site:
http://www.shellshocklimited.com.
Income statement
|
Year ended 31 March |
|
2010 |
2009 |
|
|
|
UK₤000 |
UK₤000 |
|
|
|
|
|
|
Administrative expenses |
|
(79) |
(258) |
|
|
|
|
|
|
Operating loss |
|
(79) |
(258) |
|
|
|
|
|
|
Financial income |
|
116 |
124 |
|
|
|
|
|
|
Profit (loss) before taxation |
|
37 |
(134) |
|
|
|
|
|
|
Taxation |
|
- |
- |
|
|
|
|
|
|
Net profit (loss) for the year |
|
37 |
(134 |
|
|
|
|
|
|
Earnings (loss) per ordinary share |
|
|
|
|
Basic (pence) |
|
0.62 |
(2.23) |
Balance sheet
|
At March 31 |
|
2010 |
2009 |
|
|
|
UK₤000 |
UK₤000 |
|
Assets |
|
|
|
|
Current assets |
|
|
|
|
Cash and cash equivalents |
|
2,941 |
2,955 |
|
Other receivables |
|
19 |
18 |
|
|
|
2,960 |
2,973 |
|
Liabilities |
|
|
|
|
Current liabilities |
|
|
|
|
Other payables |
|
(18) |
(68) |
|
|
|
|
|
|
Net current assets |
|
2,942 |
2,905 |
|
|
|
|
|
|
Net assets |
|
2,942 |
2,905 |
|
|
|
|
|
|
Shareholders' equity |
|
|
|
|
Called up share capital |
|
3,000 |
3,000 |
|
Retained deficit |
|
(58) |
(95) |
|
|
|
|
|
|
Total shareholders' equity |
|
2,942 |
2,905 |
Statement of cash flows
|
Year ended 31 March |
|
2010 |
2009 |
|
|
|
UK₤000 |
UK₤000 |
|
|
|
|
|
|
Cash flows from operating activities |
|
|
|
|
Cash used in operations |
|
(130) |
(224) |
|
Interest received |
|
116 |
124 |
|
|
|
|
|
|
Net cash utilised by operating activities |
|
(14) |
(100) |
|
Net (decrease) in cash and cash equivalents |
|
(14) |
(100) |
|
|
|
|
|
|
Cash and cash equivalents at beginning of year |
|
2,955 |
3,055 |
|
|
|
|
|
|
Cash and cash equivalents at end of year |
|
2,941 |
2,955 |
-ENDS-
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