LONDON, May 22, 2012 /PRNewswire/ --
In accordance with the Transparency Directive, Attica Funds Plc today announces its audited results for the year ended 31 December 2011.
Income statement
For the year ended 31 December 2011
2011 2010 EUR EUR Revenue - Interest receivable 3,824,725 2,980,287 Cost of sales - Interest payable (3,708,021) (2,861,372) Gross profit 116,704 118,915 Administrative expenses (26,527) (21,016) Operating profit 90,177 96,370 Other interest receivable and similar income 822 932 Profit on ordinary activities before taxation 90,999 97,302 Tax on profit on ordinary activities (22,959) (23,876) Total comprehensive income for the year 68,040 73,426 The Statement of Comprehensive Income has been prepared on the basis that all operations are continuing operations. 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 2011
Total Share capital Retained earnings EUR EUR EUR Balance at 1 January 2010 389,679 72,892 316,787 Total comprehensive income for the year 73,426 - 73,426 Balance at 1 January 2011 463,105 72,892 390,213 Total comprehensive income for the year 68,040 - 68,040 Balance at 31 December 2011 531,145 72,892 458,253
Balance sheet
At 31 December 2011
2011 2010 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 519,307 448,088 566,530 495,311 Total assets 95,255,530 95,184,311 LIABILITIES Current liabilities Trade and other payables (13,604) (10,293) Current tax liabilities (21,781) (21,913) (35,385) (32,206) Total assets less current liabilities 95,220,145 95,152,105 NON CURRENT LIABILITIES Interest-bearing loans and borrowings (94,689,000) (94,689,000) Net assets 531,145 463,105 SHAREHOLDERS'EQUITY Called up share capital 72,892 72,892 Retained earnings 458,253 390,213 Total equity 531,145 463,105
Cash Flow Statement
For the year ended 31 December 2011
2011 2010 EUR EUR EUR EUR Cash inflow from operating activities (note) 93,488 93,344 Taxation paid (23,091) (25,988) Net cash generated from operating activities 70,397 67,356 Cash flows from investing activities Interest received 822 932 Net cash generated from investing activities 822 932 Net cash increase in cash and cash equivalents 71,219 68,288 Cash and cash equivalents at beginning of period 448,088 379,800 Cash and cash equivalents at end of period 519,307 448,088
Reconciliation of operating profit to net cash inflow from operating activities 2011 2010 EUR EUR Operating profit 90,177 96,370 Increase/(decrease) in liabilities 3,311 (3,026) Cash inflow from operating activities 93,488 93,344
Notes to the financial information
For the year ended 31 December 2011
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
Miss Triantafyllou, Tel: +30-210-3669201, Email: Triantafyllou.Polyxeni@atticabank.gr
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