LONDON, June 30, 2011 /PRNewswire/ --
In accordance with the Transparency Directive, Attica Funds Plc today announces its audited results for the year ended 31 December 2010.
Income statement
For the year ended 31 December 2010
2010 2009
EUR EUR
Revenue - Interest receivable
2,920,494 2,980,287
Cost of sales - Interest payable (2,804,761) (2,861,372)
---------- ----------
Gross profit 115,733 118,915
Administrative expenses (19,363) (21,016)
--------- ----------
Operating profit 96,370 97,899
Other interest receivable
and similar income 932 220
---------- ----------
Profit on ordinary
activities before taxation 97,302 98,119
Tax on profit on ordinary
activities (23,876) (24,851)
---------- ----------
Total comprehensive income
for the year 73,426 73,268
========== ==========
There are no recognised gains and losses other than those passing through
the Statement of Comprehensive Income.
Statement of changes in equity
For the year ended 31 December 2010
Share Retained
Total capital arnings
EUR EUR EUR
Balance at 1 January 2009 316,411 72,892 243,519
Total comprehensive income for
the year 73,268 - 73,268
---------- ---------- ----------
Balance at 1 January 2010 389,679 72,892 316,787
Total comprehensive income for
the year 73,426 - 73,426
---------- ---------- ----------
Balance at 31 December 2010 463,105 72,892 390,213
========== ========== ==========
Balance sheet
At 31 December 2010
2010 2009
EUR EUR EUR EUR
ASSETS
Non current assets
Loans and
receivables 94,689,000 94,689,000
Current assets
Trade and other
receivables 47,223 47,223
Cash and cash
equivalents 448,088 379,800
---------- ----------
495,311 427,023
---------- ----------
Total assets 95,184,311 95,116,023
LIABILITIES
Current liabilities
Trade and other
payables (10,293) (15,286)
Current tax
liabilities (21,913) (24,025)
---------- ----------
(32,206) (39,311)
----------- -----------
Total assets less current
liabilities 95,152,105 95,076,712
NON CURRENT LIABILITIES
Interest-bearing
loans and borrowings (94,689,000) (94,687,033)
----------- -----------
Net assets 463,105 389,679
=========== ==========
SHAREHOLDERS'EQUITY
Called up share
capital 72,892 72,892
Retained earnings 390,213 316,787
---------- ----------
Total equity 463,105 389,679
========== ==========
Cash Flow Statement
For the year ended 31 December 2010
2010 2009
EUR EUR EUR EUR
Cash inflow from operating
activities (note) 93,344 97,397
Taxation paid (25,988) (16,791)
---------- ----------
Net cash generated from operating
activities 67,356 80,606
Cash flows from investing
activities
Interest received 932 220
Receipts from loan repayment - 5,311,000
---------- ----------
Net cash generated from
investing activities 932 5,311,220
Cash flows from financing
activities
Repayment of long term loan - (5,311,000)
---------- ----------
Net cash outflow from
financing activities - (5,311,000)
---------- ----------
Net cash increase in cash
and cash equivalents 68,288 80,826
Cash and cash equivalents at beginning
of period 379,800 298,974
---------- ----------
Cash and cash equivalents at end of
period 448,088 379,800
========== ==========
Reconciliation of operating profit to
net cash inflow from operating
activities 2010 2009
EUR EUR
Operating profit 96,370 97,899
Decrease in liabilities (3,026) (502)
---------- ----------
Cash inflow from operating activities 93,344 97,397
========== ==========
Notes to the financial information
For the year ended 31 December 2010
1 The results have been prepared in accordance with International Financial Reporting Standards ("IFRS"), International Financial Reporting Interpretations Committee ("IFRIC") interpretations as adopted by the European Union and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS. It does not include all the information required for full annual accounts.
2 The financial information set out above does not constitute full statutory accounts of the Company. Full accounts for the Company for the year have been filed at Companies House, did not receive an unqualified auditors' report and did not contain a statement under Section 498 (2) or (3) of the Companies Act 2006.
3 The full accounts of the Company can be obtained
from the parent company's website at http://www.atticabank.gr/index.asp?a_id=1319
Contact: Miss Triantafyllou, Tel: +30-210-3669201, Email: Triantafyllou.Polyxeni@atticabank.gr
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