METROELECTRIC PLC - INTERIM RESULTS
Chairman's Statement
I am pleased to present the interim results for the company up to 31st December 2007.
The company is now established to acquire and/or invest in the field of eco-friendly products and technologies. We are currently making progress in the area of electric vehicles. We anticipate this sector to be an area of major growth as in our opinion, electric propulsion appears to be the most likely successor to the combustion engine. As electric vehicle technology is in its infancy, we are researching the market and ensuring the correct safety, EEC/UK legislation is met before we commit to a number of opportunities that we have developed. We hope to be in a position to make a further announcement in the near future.
Metroelectric PLC was admitted to the PLUS market on 23rd July 2007 and the associated administrative costs are reflected in these figures.
Tim Walker
Chairman
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METROELECTRIC PLC | |||||||
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UNAUDITED PROFIT AND LOSS ACCOUNT | |||||||
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FOR THE PERIOD ENDED 31 DECEMBER 2007 | |||||||
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Unaudited for the 6 months ended 31 December 2007 |
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Audited for the period ended 30th June 2007 |
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£ |
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£ |
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Turnover |
- |
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- |
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Administrative expenses |
(96,901) |
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(2,108) |
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Loss on ordinary activities before taxation |
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(96,901) |
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(2,108) |
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Tax on loss on ordinary activities |
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- |
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- |
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Loss for the period |
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(96,901) |
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(2,108) |
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The profit and loss account has been prepared on the basis that all operations are continuing operations. |
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There are no recognised gains and losses other than those passing through the
profit and loss account. |
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METROELECTRIC PLC | ||||||||||||
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UNAUDITED BALANCE SHEET | ||||||||||||
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AS AT 31 DECEMBER 2007 | ||||||||||||
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Unaudited As At 31 December 2007 |
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As At 30 June 2007 |
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Notes |
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£ |
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£ |
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Current assets |
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Debtors |
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5,483 |
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23,625 |
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Cash at bank and in hand |
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72,081 |
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151,064 |
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77,564 |
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174,689 |
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Creditors: amounts falling due within one year |
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(1,573) |
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(1,797) |
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Total assets less current liabilities |
75,991 |
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172,892 |
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Capital and reserves |
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Called up share capital |
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175,000 |
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175,000 |
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Profit and loss account |
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(99,009) |
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(2,108) |
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Shareholders' funds |
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75,991 |
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172,892 |
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The Directors of the Company accept responsibility for this
announcement.
Enquiries:
Metroelectric Plc
Greg Collier
Tel: 07830 182501
Orange Corporate Finance Ltd
John Bridges
Tel: 0207 312 6530