REG - MS International PLC - Final Results <Origin Href="QuoteRef">MSTL.L</Origin> - Part 3

MS InternationalAnnouncement

16/07/2015 11:29

- Part 3: For the preceding part double click  ID:nRSR4901Qb 

       
      2015                                                                                                                                                                                                                                                  1,681                1,681                -                -                  -               
      2014                                                                                                                                                                                                                                                  2,644                2,644                -                -                  -               
                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                          
      Company                                                                                                                                                                                                                                                                                                                                             
                                                                                                                                                                                                                                                                                                                                                          
      2015                                                                                                                                                                                                                                                  1,681                1,681                -                -                  -               
      2014                                                                                                                                                                                                                                                  2,644                2,644                -                -                  -               
                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                          
 
 
 (7)  Cash                                Group     Company  
                                          2015      2014       2015     2014    
                                          £000      £000       £000     £000    
      Cash at bank and in hand            9,884     4,786      8,935    3,741   
      Short term deposits                 7,264     9,500      7,264    9,500   
                                                                                
                                                                                
                                          17,148    14,286     16,19    13,241  
                                                                                
 
 
 (8)  Reserves                                                                   
                                                                                 
      Share Capital                                                              
      The balance classified as share     
      capital includes the nominal value  
      on issue of the Company's equity    
      share capital, comprising 10p       
      Ordinary shares.                    
                                                                                 
      Capital redemption reserve                                                 
      The balance classified as capital   
      redemption reserve represents the   
      nominal value of issued share       
      capital of the Company, repurchased. 
                                                                                 
      Other reserve                                                              
      This is the revaluation reserve     
      previously arising under UK GAAP    
      which is now part of non            
      -distributable retained reserves.   
                                                                                 
      Revaluation reserve                                                        
      The asset revaluation reserve is    
      used to record increases in the fair 
      value of land and buildings and     
      decreases to the extent that such   
      decrease relates to an increase on  
      the same assets previously          
      recognised in equity.    This also  
      includes the impact of the change in 
      related deferred tax due to the     
      change in corporation tax (21% to   
      20%).                               
                                                                                 
      Special reserve                                                            
      The balance classified as special   
      reserve represents the share premium 
      on the issue of the Company's equity 
      share capital.                      
                                                                                 
      Currency translation reserve                                               
      The foreign currency translation    
      reserve is used to record exchange  
      differences arising from the        
      translation of the financial        
      statements of foreign subsidiaries. 
      It is also used to record the effect 
      of hedging net investments in       
      foreign operations.                 
                                                                                 
      Treasury Shares                                                            
                                                                 2015     2014   
                                                                 £000     £000   
      Employee Share Ownership Trust                             100      100    
      Shares in treasury (see below)                             2,959    2,959  
                                                                                 
                                                                                 
                                                                 3,059    3,059  
                                                                                 
                                                                                 
      During 1991 the Company established 
      an Employee Share Ownership Trust   
      ("ESOT").  The trustee of the ESOT  
      is Appleby Trust (Jersey) Ltd, an   
      independent company registered in   
      Jersey.  The ESOT provides for the  
      issue of options over Ordinary      
      shares in the Company to Group      
      employees, including executive      
      directors, at the discretion of the 
      Remuneration Committee.             
                                                                                 
      The trust has purchased an aggregate 
      245,048 (2014 - 245,048) Ordinary   
      shares, which represents 1.3% (2014  
      - 1.3%) of the issued share capital 
      of the Company at an aggregate cost 
      of £100,006.  The market value of   
      the shares at 2nd May, 2015 was     
      £346,000 (2014 - £508,000).  The    
      Company has made payments of £Nil   
      (2014 - £Nil) into the ESOT bank    
      accounts during the period.  No     
      options over shares (2014 - Nil)    
      have been granted during the period. 
       Details of the outstanding share   
      options, for Directors are included 
      in the Directors' remuneration      
      report.                             
                                                                                 
      The assets, liabilities, income and 
      costs of the ESOT have been         
      incorporated into the Company's     
      financial statements.  Total ESOT   
      costs charged to the income         
      statement in the period amounts to  
      £4,000 (2014 - £4,000).  During the 
      period no options on shares  were   
      exercised (2014 - Nil) and no shares 
      were purchased (2014 - Nil).        
                                                                                 
      The Company made the following      
      purchases of its own 10p Ordinary   
      shares to be held in Treasury:      
                                                                          £000   
      11th December, 2013 1,000,000 shares       1,722  
      from the Group's pension scheme.                 
      30th January, 2014  646,334 shares                                  1,237  
                                                                                 
                                                                                 
                                                                          2,959  
                                                                                 
                                                                                 
 
 
 The preliminary announcement is prepared on the same basis as set out in the previous year's accounts.                                                                                                                                                                                                                                                                                                                                                                                                                          
 
The Directors confirm to the best of their knowledge that:(a) the financial statements, prepared in accordance with International Financial Reporting Standards, give a true and fair view of the assets, liabilities, financial position and profit or loss of the group and the undertakings included in the consolidation taken as a whole; and(b) the Chairman's Statement includes a fair review of the development and performance of the business and the position of the group and the undertakings included in the    
 consolidation taken as a whole, together with a description of the principal risks and uncertainties that they face.The preliminary announcement was approved by the Board on 17th June, 2015 and the above responsibility statement was signed on its behalf by Michael Bell, Executive Chairman and Michael O'Connell, Group Finance Director.                                                                                                                                                                                
 Copies of this announcement are available from the Company's registered office at MS INTERNATIONAL plc, Balby Carr Bank, Doncaster, DN4 8DH, England.  The full Annual Report and Accounts will be posted to shareholders shortly and will be delivered to the Registrar of Companies after it has been laid before the Company in general meeting.                                                                                                                                                                             
 
 
This information is provided by RNS
The company news service from the London Stock Exchange