REG - Wynnstay Group PLC - Final Results <Origin Href="QuoteRef">WYWYN.L</Origin> - Part 2
27/01/2016 07:10
- Part 2: For the preceding part double click ID:nRSa0788Na
8,389
12. FINANCIAL LIABILITIES - BORROWINGS
Current
2015 2014
£000 £000
Bank loans and overdrafts due within one year or on demand:
Secured overdrafts 3 601
Secured loans 2,162 1,979
2,165 2,580
Loan capital (unsecured) 667 656
Other loanstock (unsecured) 16 16
Net obligations under finance leases 795 686
3,643 3,938
Non-current
2015 2014
£000 £000
Bank loans:
Secured 2,888 1,549
2,888 1,549
Net obligations under finance leases 1,084 751
3,972 2,300
Bank loans and overdrafts include overdrafts totalling £222,233 (2014:
£600,271) relating to subsidiary companies, which are secured by debentures
over the assets of those companies.
Finance lease obligations are secured on the assets to which they relate.
2015 2014
£000 £000
Borrowings are repayable as follows:
On demand or within one year 3,643 3,938
In the second year 1,473 1,791
In the third to fifth years inclusive 2,499 509
Over five years - -
7,615 6,238
Finance leases included above are repayable as follows:
On demand or within one year 795 686
In the second year 572 419
In the third to fifth years inclusive 512 332
Over five years - -
1,879 1,437
The net borrowings are:
Borrowings as above 7,615 6,238
Cash and cash equivalents (9,750) (8,990)
Net (cash)/ debt (2,135) (2,752)
13. SHARE CAPITAL
2015 2014
No. of shares No. of shares
'000 £000 '000 £000
Authorised
Ordinary shares of 25p each 40,000 10,000 40,000 10,000
Allotted, called up and fully paid
Ordinary shares of 25p each 19,391 4,848 19,108 4,777
During the year 81,733 shares (2014: 62,970) were issued with an aggregate
nominal value of £20,433 (2014: £15,743) and were fully paid up for equivalent
cash of £430,808 (2014: £390,418) to shareholders exercising their right to
receive dividends under the Company's scrip dividend scheme.
A total of 200,812 (2014: 195,282) shares with an aggregate nominal value of
£50,203 (2014: £48,821) were issued for a cash value of £446,868 (2014:
£320,511) to relevant holders exercising options in the Company. No other
shares were issued for cash in this financial year (2014: Nil).
14. CASH GENERATED FROM OPERATIONS
2015 2014
£000 £000
Profits for the year 6,670 6,697
Adjustments for:
Tax 1,667 1,796
Depreciation of tangible fixed assets 2,665 2,509
Amortisation of other intangible fixed assets 10 10
(Profit) on disposal of property, plant and equipment (260) (171)
Interest income (50) (52)
Interest expense 290 378
Share of results of joint ventures and associate (187) (428)
Share based payments 334 99
Changes in working capital (excluding effects of acquisitions and disposals of subsidiaries):
Decrease in short term loan to joint ventures - 265
Decrease in inventories 287 844
Decrease in trade and other receivables 143 2,522
(Decrease) in payables (2,960) (2,696)
Cash generated from operations 8,609 11,773
15. RESPONSIBILTY STATEMENT
The Directors below confirm to the best of their knowledge:
· the financial statements, prepared in accordance with the applicable set
of accounting standards, give a true and fair view of the assets, liabilities,
financial position and profit or loss of the Company and the undertakings
included in the consolidation taken as a whole; and
· the management report includes a fair review of the development and
performance of the business and the position of the issuer and the
undertakings included in the consolidation taken as a whole, together with a
description of the principal risks and uncertainties that they face.
J J McCarthy
P M Kirkham
B P Roberts
K R Greetham
D A T Evans
H J Richards
16. CONTENT OF THIS REPORT
The financial information set out above does not constitute the Group's
statutory accounts for the years ended 31 October 2015 or 31 October 2014, but
is derived from those accounts.
Statutory accounts for 2014 have been delivered to the Registrar of Companies.
The auditor, KPMG Audit Plc, has reported on the 2014 accounts; the report
(i) was unqualified, (ii) did not include a reference to any matters to which
the auditor drew attention by way of emphasis without qualifying their report,
and (iii) did not contain a statement under section 498(2) or (3) of the
Companies Act 2006.
The statutory accounts for 2015 will be delivered to the Registrar of
Companies following the Annual General Meeting. The auditor, KPMG LLP, has
reported on these accounts; their report is unqualified, does not include a
reference to any matters to which the auditor drew attention by way of
emphasis without qualifying their report, and; does not include a statement
under either section 498(2) or (3) of the Companies Act 2006.
The Annual Report and full Financial Statements will be posted to shareholders
during the week commencing 1 February 2016. Further copies will be available
to the public, free of charge, from the Company's Registered Office at Eagle
House, Llansantffraid, Powys, SY22 6AQ or on the Company's website at
www.wynnstay.co.uk.
17. ANNUAL GENERAL MEETING
The Annual General Meeting of the Company will be held at The Sovereign Suite,
Shrewsbury Football Club, Oteley Road, Shrewsbury, Shropshire, SY2 6ST on 22
March 2016 at 11.45am.
This information is provided by RNS
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