SnackTime : Report and Consolidated Financial Statements Period Ended 17 March 2015

Microsoft Word - 39910826_1 Company Number: 06135746

SNACKTIME PLC REPORT AND CONSOLIDATED FINANCIAL STATEMENTS PERIOD ENDED 27 MARCH 2015 REPORT AND FINANCIAL STATEMENTS PERIOD ENDED 27 MARCH 2015

CONTENTS PAGE

Highlights 2

Company Information 3

Chairman's Statement 4

Board of Directors 9

Strategic Report 10

Directors' Report 15

Independent Auditor's Report 20

Consolidated Statement of Comprehensive Income 22

Consolidated Statement of Changes in Equity 23

Consolidated Statement of Financial Position 24

Consolidated Statement of Cash Flows 25

Notes to the Financial Statements 26

Company Financial Statements 64

Company Balance Sheet 65

Notes to the Financial Statements 66

HIGHLIGHTS PERIOD ENDED 27 MARCH 2015

Financial Highlights

• Revenues decreased by 14% (2014 - decreased by 8.3%)

• Adjusted loss before finance income and charges, depreciation, exceptional items, amortisation, share option charges and tax of £1,110,277 (2014 - profit of £1,138,940)*

   Loss before taxation of £4,383,595 (2014 - Loss of £8,537,680)

• Net assets of £1,222,264 (2014 - £2,696,688) following goodwill and intangible impairment of

  £448,532 (2014 - £4,498,430)

  
  

• Gross profit has decreased from 55% to 54%.

• Net cash outflow from operating activities of £937,125 after exceptional items. (2014 - Inflow of £191,672)

  
  

• Administration expenses, before exceptional items, amortisation and share option expenses but including depreciation, increased by 2.8% to £11,087,636 (2014 - £10,784,838)**. Total administration expenses reduced by 30.6% to £12,755,675 (2014 - £18,391,103).

*- Arrived at from taking the Loss before tax, finance income and charges, exceptional items, amortisation and share option charges of £2,378,510 from the Statement of Comprehensive Income and adding back depreciation of £1,268,233

** - As set out on the Statement of Comprehensive Income

COMPANY INFORMATION PERIOD ENDED 27 MARCH 2015

DIRECTORS: J. Hamer (Chairman)

M.Stone (Chief Executive Officer)

M. Jackson (Non-Executive Director)

B. Belotserkovsky (Non-Executive Director)

S. Kornienko (Non-Executive Director)

SECRETARY: M. Maltby

REGISTERED OFFICE: 17 Rufus Business Centre

Ravensbury Terrace London

SW18 4RL

REGISTERED NUMBER: 06135746

ACCOUNTANTS: Crowe Clark Whitehill LLP 10 Palace Avenue Maidstone

Kent ME15 6NF

AUDITOR: BDO LLP

Kings Wharf

20-30 Kings Road Reading Berkshire

RG1 3EX

SOLICITORS: Herrington and Carmichael Riverside Way

Watchmoor Park Camberley Surrey

GU15 3YL

BANKERS: The Cooperative Bank Team 605

Olympic House

Business Customer Service Centre PO Box 250

Delf House Skelmersdale WN8 6WT