Final Results
03 Aprile 2003 - 1:26PM
UK Regulatory
RNS Number:5946J
Simons & Co Limited
03 April 2003
Simons & Co Limited
Preliminary Statement
Year ended 31 December 2002
CHAIRMAN'S STATEMENT
Directors Statement
The results for the year ended 31 December 2002 show that the policy adopted in
1998 of investing in publicly listed and unquoted companies to provide an
enhanced income continues to be reliable. In spite of turbulent market
conditions the Company's portfolio of publicly listed and unquoted company
shares has performed satisfactorily. While there has been little activity in
dealings in publicly listed shares the Company has acquired a further 100,000
ordinary shares in Wellington Market Company plc.
Dividends
The dividend of 3.75% net per share due to Preference shareholders for the
period to 30 June 2002 was paid on 1 July 2002 and the dividend of 3.75% net per
share due to Preference shareholders for the period to 31 December 2002 was paid
on 1 January 2003. No additional dividend was declared.
No dividend was declared in respect of the Company's ordinary shares.
GM SIMON
Chairman
PROFIT AND LOSS ACCOUNT
for the year ended 31 December 2002
Note 2002 2001
# #
Turnover - continuing operations 41,418 75,077
Net operating expenses
Administrative expenses (18,216) (16,772)
Operating profit - continuing operations 23,202 58,305
Interest payable (48) (118)
Profit on ordinary activities before taxation 23,154 58,187
Tax on profit on ordinary activities 1 2,771 (756)
Profit on ordinary activities after taxation 25,925 57,431
Dividends (including non-equity interests) 2 (11,775) (11,250)
Retained profit for the year 14,150 46,181
SUMMARISED CONSOLIDATED CASH FLOW STATEMENT
for the year ended 31 December 2002
2002 2001
# #
Net cash inflow/(outflow) from operating activities 75,439 (38,285)
Returns on investment and servicing of finance (11,298) (11,368)
Taxation received 3,579 542
Management of liquid resources (2,673) (3,743)
Increase/(decrease) in cash 65,047 (52,854)
SUMMARISED BALANCE SHEET
at 31 December 2002
2002 2001
# #
Fixed assets
Investments 696,338 616,198
Current assets
Debtors due within one year 10,025 -
Investments 17,814 28,123
Cash at bank and in hand 319,087 254,040
346,926 282,163
Creditors: Amounts falling due within one year (206,151) (435,143)
Net current assets/(liabilities) 140,775 (152,980)
Total assets less current liabilities 837,113 463,218
Creditors: Amounts falling due in more than one year (345,605) -
Capital and reserves 491,508 463,218
1. TAXATION
Taxation (credit)/charge for the year:
2002 2001
# #
UK Corporation tax:
Current tax on income for the period at 30%
(2001 : 30%) - 190
Adjustments in respect of prior periods (2,771) 566
(2,771) 756
2. DIVIDENDS
The final dividend of 3.75% per share due to preference shareholders
was paid on 1 January 2003.
3. PRELIMINARY STATEMENT
This preliminary statement, which has been agreed with the auditors,
was approved by the Board on 3 April 2003. It is not the company's statutory
accounts. The statutory accounts for the year ended 31 December 2001 have been
delivered to the Registrar of Companies and received an audit report which was
unqualified and did not contain statements under s237 (2) or (3) of the
Companies Act 1985. The statutory accounts for the year ended 31 December 2002
have not yet been approved, audited or filed.
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR KGGGDGFMGFZM