REG - Aeorema Comms Plc - Final Results <Origin Href="QuoteRef">AEO.L</Origin> - Part 2

Aeorema CommunicationsAnnouncement

22/10/2015 07:02

- Part 2: For the preceding part double click  ID:nRSV0443Da 

 Cash flows from operating activities                                                                                  
 Profit  after taxation                                                    315,237    415,696    310,444    59,674     
 Tax expense recognised in Consolidated Statement of Comprehensive Income  67,979     89,145     -          -          
 Depreciation                                                              30,708     48,185     -          -          
 Loss on disposal of property, plant and equipment                         5,389      -          -          -          
 Share-based payment                                                       14,884     14,889     -          -          
 Dividends received by the Company                                         -          -          (400,000)  (130,000)  
 Finance income                                                            (761)      (406)      (268)      (250)      
                                                                           433,436    567,509    (89,824)   (70,576)   
 Increase / (decrease) in trade and other payables                         (132,788)  454,498    (3,624)    (192,351)  
 (Increase) / decrease in trade and other receivables                      123,523    (869,364)  29,737     110,589    
 (Increase) / decrease in inventories                                      2,674      -          -          -          
 Taxation paid                                                             (42,951)   (43,418)   -          -          
 Cash generated / (used) from operating activities                         383,894    109,225    (63,711)   (152,338)  
 
 
25 Financial instruments 
 
The Group is exposed to risks that arise from its use of financial
instruments. There have been no significant changes in the Group's exposure to
financial instrument risk, its objectives, policies and processes for managing
those from previous periods. The principal financial instruments used by the
Group, from which financial instrument risk arises, are trade receivables,
cash and cash equivalents and trade and other payables. 
 
Credit risk 
 
Credit risk arises principally from the Group's trade receivables. It is the
risk that the counterparty fails to discharge its obligation in respect of the
instrument. The maximum exposure to credit risk at 30 June 2015 was £1,055,898
(2014: £1,401,432). Trade receivables are managed by policies concerning the
credit offered to customers and the regular monitoring of amounts outstanding
for both time and credit limits. At the year end, the credit quality of trade
receivables is considered to be satisfactory. 
 
Liquidity risk 
 
Liquidity risk arises from the Group's management of working capital. It is
the risk that the Group will encounter difficulty in meeting its financial
obligations as they fall due. The Group's policy is to meet its liabilities
when they fall due. The Group monitors cash flow on a regular basis. At the
year end, the Group has sufficient liquid resources to meets its obligations
of £1,463,504 (2014: £1,589,007). 
 
Market risk 
 
Market risk arises from the Group's use of interest bearing financial
instruments. It is the risk that the fair value of future cash flows of a
financial instrument will fluctuate. At the year end, the cash and cash
equivalents of the Group was £1,558,453 (2013: £1,620,895). The Group ensures
that its cash deposits earn interest at a reasonable rate. 
 
Capital risk 
 
The Group's objectives when managing capital are to safeguard the Group's
ability to continue as a going concern while maximising the return to
stakeholders. The capital structure of the Group consists of equity
attributable to equity holders of the parent, comprising issued share capital,
reserves and retained earnings as disclosed in the Group Statement of Changes
in Equity. At the year end, total equity was £1,884,040 (2014: £1,967,231). 
 
Fair value of financial assets 
 
The Group's book value of the financial assets equates to their fair values. 
 
26 Pension costs defined contribution 
 
The Group makes pre-defined contributions to employees' personal pension
plans. Contributions payable by the Group for the year were £92,258 (2014:
£119,840). At the end of the reporting period £30,000 (2014: £24,998) of
contributions were due in respect of the period. The amounts were paid
subsequent to the end of the reporting period. 
 
27 Dividends 
 
On the 21 November 2014 a final dividend of 2 pence per share and a special
dividend of 3 pence per share (total dividend £452,500) was paid to holders of
fully paid ordinary shares. 
 
In respect of the current year, the directors propose that a final dividend of
3 pence per share be paid to shareholders on 27 November 2015. The dividends
are subject to approval by shareholders at the Annual General Meeting and have
not been included as liabilities in these consolidated financial statements.
The proposed dividends are payable to all shareholders on the Register of
Members on 6 November 2015. The total estimated dividend to be paid is
£271,515. The payment of this dividend will not have any tax consequences for
the Group. 
 
28 Control 
 
There is no overall controlling party. 
 
29 Notice of AGM 
 
The Annual General Meeting of Aeorema Communications plc will be held at Moray
House, 23-31 Great Titchfield Street, London W1W 7PA on 23rd November 2015 at
10.30am.  A formal notice of AGM along with the Annual Report and Accounts for
the year ended 30 June 2015 will be sent to shareholders and will be available
on the Company's website www.aeorema.com in due course. 
 
This information is provided by RNS
The company news service from the London Stock Exchange