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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