REG - Topps Tiles - Unaudited Interim Report 26 Weeks Ended 28 Mar 15 <Origin Href="QuoteRef">TPT.L</Origin> - Part 2

Topps TilesAnnouncement

15/07/2015 18:13

- Part 2: For the preceding part double click  ID:nRSS5601Na 

of any contingent liabilities faced by the Group
as at 28 March 2015. 
 
8. Events after the balance sheet date 
 
There were no events after the balance sheet date to report. 
 
9. Share capital 
 
The issued share capital of the Group as at 28 March 2015 amounted to
£6,456,000 (29 March 2014: £6,405,000). The Group issued 47,957 shares during
the period increasing the number of shares from 193,636,240 to 193,684,197. 
 
10. Seasonality of sales 
 
Historically there has not been any material seasonal difference in sales
between the first and second half of the reporting period, with approximately
50% of annual sales arising in the period from October to March. 
 
11. Related Party Transactions 
 
S.K.M Williams is a related party by virtue of his 10.45% shareholding
(20,243,950 ordinary shares) in the Group's issued share capital (2014: 10.6%
shareholding of 20,593,950 ordinary shares). 
 
At 28 March 2015 S.K.M Williams was the landlord of four properties leased to
Multi Tile Limited, a trading subsidiary of Topps Tiles Plc, for £230,000
(2014: three properties for £162,000) per annum. 
 
No amounts were outstanding with S.K.M. Williams at 28 March 2015 (2014:
£nil). The lease agreements on all properties are operated on commercial arm's
length terms. 
 
Transactions between the Company and its subsidiaries, which are related
parties, have been eliminated on consolidation and are not disclosed in this
note, in accordance with the exemption available under IAS24. 
 
INDEPENDENT REVIEW REPORT TO TOPPS TILES PLC 
 
We have been engaged by the company to review the condensed set of financial
statements in the half-yearly financial report for the six months ended 28
March 2015 which comprises the Consolidated Statement of Financial
Performance, the Consolidated Statement of Financial Position, the
Consolidated Statement of Changes in Equity, the Statement of Cash Flows and
related notes 1 to 11. We have read the other information contained in the
half-yearly financial report and considered whether it contains any apparent
misstatements or material inconsistencies with the information in the
condensed set of financial statements. 
 
This report is made solely to the company in accordance with International
Standard on Review Engagements (UK and Ireland) 2410 "Review of Interim
Financial Information Performed by the Independent Auditor of the Entity"
issued by the Auditing Practices Board. Our work has been undertaken so that
we might state to the company those matters we are required to state to it in
an independent review report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other
than the company, for our review work, for this report, or for the conclusions
we have formed. 
 
We have not audited or reviewed the financial information for the 26 week
period ended 29 March 2014. 
 
Directors' responsibilities 
 
The half-yearly financial report is the responsibility of, and has been
approved by, the directors. The directors are responsible for preparing the
half-yearly financial report in accordance with the Disclosure and
Transparency Rules of the United Kingdom's Financial Conduct Authority. 
 
As disclosed in note 1, the annual financial statements of the group are
prepared in accordance with IFRSs as adopted by the European Union. The
condensed set of financial statements included in this half-yearly financial
report has been prepared in accordance with International Accounting Standard
34, "Interim Financial Reporting," as adopted by the European Union. 
 
Our responsibility 
 
Our responsibility is to express to the Company a conclusion on the condensed
set of financial statements in the half-yearly financial report based on our
review. 
 
Scope of review 
 
We conducted our review in accordance with International Standard on Review
Engagements (UK and Ireland) 2410 "Review of Interim Financial Information
Performed by the Independent Auditor of the Entity" issued by the Auditing
Practices Board for use in the United Kingdom. A review of interim financial
information consists of making inquiries, primarily of persons responsible for
financial and accounting matters, and applying analytical and other review
procedures. A review is substantially less in scope than an audit conducted in
accordance with International Standards on Auditing (UK and Ireland) and
consequently does not enable us to obtain assurance that we would become aware
of all significant matters that might be identified in an audit. Accordingly,
we do not express an audit opinion. 
 
Conclusion 
 
Based on our review, nothing has come to our attention that causes us to
believe that the condensed set of financial statements in the half-yearly
financial report for the six months ended 28 March 2015 is not prepared, in
all material respects, in accordance with International Accounting Standard 34
as adopted by the European Union and the Disclosure and Transparency Rules of
the United Kingdom's Financial Conduct Authority. 
 
Deloitte LLP 
 
Chartered Accountants and Statutory Auditor 
 
Manchester, United Kingdom 
 
19 May 2015 
 
This information is provided by RNS
The company news service from the London Stock Exchange