Preliminary Results year ended 31 December 2010

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	Note	Year ended 31 December 2010	Year ended 31 December 2009
		£	£
Operating loss		(471,826)	(681,670)
Finance income		407	-
Finance expense		-	(535)
		--------------	--------------
Loss before taxation		(471,419)	(682,205)
Taxation		-	-
		--------------	--------------
Loss for the year from continuing operations	2	(471,419)	(682,205)
Profit for the year from discontinued operations Loss for the financial year attributable to equity holders of the parent	2	109,366 --------------- (362,053) ---------------	116,529 --------------- (565,676) --------------
(Loss)/earnings per share
- Basic and diluted continuing operations - Basic and diluted discontinued operations	3 3	(1.43p) 0.33p	(2.69p) 0.46p
-Total basic and diluted	3	(1.10p)	(2.23p)

	Share Capital	Share Premium	Capital Redemption Reserve	Translation Reserve	Retained Earnings	Total Equity
Balance at 1 January 2009	2,435,796	2,007,339	27,000	169,200	(4,233,362)	405,973
Issue of share capital	850,000	-	-	-	-	850,000
Cost of shares issued	-	(155,000)	-	-	-	(155,000)
Transactions with owners	------------ 850,000	-------------- (155,000)	------------	------------- -	------------- -	-------------- 695,000
	-------------	-------------	--------------	--------------	-------------	--------------
Loss for the financial year	-	-	-	-	(565,676)	(565,676)
Other comprehensive expense
Exchange differences on translating foreign operations	-	-	-	(50,657)	-	(50,657)
	-------------	-------------	---------------	--------------	---------------	--------------
Total comprehensive expense for the year	-	-	-	(50,657)	(565,676)	(616,333)
	--------------	--------------	--------------	--------------	---------------	--------------
Balance at 31 December 2009	3,285,796	1,852,339	27,000	118,543	(4,799,038)	484,640
Loss for the financial year	-	-	-	-	(362,053)	(362,053)

Other comprehensive expense
Exchange differences on translating foreign operations	-	-	-	(10,753)	-	(10,753)
	--------------	--------------	-------------	--------------	---------------	--------------
Total comprehensive expense for the year	-	-	-	(10,753)	(362,053)	(372,806)
Recognition of foreign exchange gains on discontinued activities (note 2)	-	-	-	(107,790)	-	(107,790)
	--------------	--------------	-------------	-------------	---------------	--------------
Balance at 31 December 2010	3,285,796	1,852,339	27,000	-	(5,161,091)	4,044
	========	========	=======	=======	=========	========

	2010	2009
	£	£
Current assets
Trade and other receivables	8,578	29,696
Cash and cash equivalents	42,461	657,265
	------------	-------------
	51,039	686,961
	------------	-------------
Total Assets	51,039	686,961
	------------	-------------
Current liabilities
Trade and other payables	46,995	112,852
Income tax payable	-	89,469
	------------	-------------
	46,995	202,321
	------------	------------
	------------	------------
Net assets	4,044	484,640
	=======	=======
EQUITY
Share capital	3,285,796	3,285,796
Share premium account	1,852,339	1,852,339
Capital redemption reserve	27,000	27,000
Translation reserve	-	118,543
Retained deficit	(5,161,091)	(4,799,038)
	---------------	---------------
Total equity	4,044	484,640
	---------------	---------------

	Note	2010	2009
		£	£
Cash flows from operating activities
Loss before taxation - continuing operations		(471,419)	(682,205)
Profit before taxation - discontinued operations		2,306	119,368
Depreciation of property, plant and equipment		-	3,679

Interest receivable		(1,323)	(2,034)
Interest payable		-	2,129

Decrease in trade and other receivable		21,118	248,277
Decrease in trade and other payables		(65,857)	(80,592)
Foreign exchange movement		(10,753)	(50,657)
		-------------	-------------

		(525,928)	(442,035)
Interest paid		-	(2,129)
Tax paid		(90,199)	36,821
		-------------	-------------

Net cash used by operating activities		(616,127)	(407,343)
		-------------	-------------
Cash flows from investing activities
Interest received		1,323	2,034
		-------------	-------------

Net cash from investing activities		1,323	2,034
		-------------	-------------
Cash flows from financing activities
Issue of shares - net proceeds		-	695,000
Repayment of loans		-	(384)
Repayment of finance leases		-	(3,220)
		-------------	-------------

Net cash generated from financing activities		-	691,396
Net (decrease)/ increase in cash and cash equivalents		(614,804)	286,087
Cash and cash equivalents at the beginning of the year		657,265	371,178
		-------------	-------------

Cash and cash equivalents at the end of the year		42,461	657,265
		-------------	-------------

	Continuing	Discontinued	Total	Continuing	Discontinued	Total
	2010	2010	2010	2009	2009	2009
	£	£	£	£	£	£

Administrative expenses	(471,826)	-	(471,826)	(681,670)	-	(681,670)
Other income	-	1,390	1,390	-	118,928	118,928

Operating (loss)/profit	(471,826)	1,390	(470,436)	(681,670)	118,928	(562,742)

Net finance income/(expenses)	407	916	1,323	(535)	440	(95)

(Loss)/profit before taxation	(471,419)	2,306	(469,113)	(682,205)	119,368	(562,837)

Taxation	-	(730)	(730)	-	(2,839)	(2,839)

(Loss)/profit after taxation	(471,419)	1,576	(469,843)	(682,205)	116,529	(565,676)

Recognition of foreign exchange gains on discontinued foreign operations	-	107,790	107,790	-	-	-

(Loss)/profit for the year	(471,419)	109,366	(362,053)	(682,205)	116,529	(565,676)

Net cash used by operating activities	(616,787)	660	(616,127)	(863,347)	456,004	(407,343)
Net cash from investing activities	407	916	1,323	-	2,034	2,034
Net cash generated from financing activities	-	-	-	691,396	-	691,386

Companies

UK 100

Latest directors dealings

	2010	2009
	£	£
Loss attributable to equity holders of the Group	(362,053)	(565,676)
Weighted average number of ordinary shares in issue	32,857,956	25,336,038
Basic & diluted loss per share (pence)	(1.10)	(2.23)
	----------------	----------------