Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Caldwell Inv. (PRS)

  Print      Mail a friend

Monday 19 April, 2004

Caldwell Inv.

Annual Report and Accounts

Caldwell Investments PLC
19 April 2004

Caldwell Investments Plc announces its audited results
for the year ended 31 December 2003.

Financial Highlights

  • Turnover up 10.5% on continuing operations
  • Pre-tax profit before exceptionals up 102%
  • Shareholder's Funds up by over 11%

For the year to end December 2003 sales were up 10.5% at £8.09m (2002 : £7.32m).
Profits before tax and exceptionals were 102% higher at £145,650 (2002 :
£72,084). Exceptional costs incurred with the closure of manufacturing
operations and sale of office in Bucharest were £139,431 (2002 :£nil).

Chairman Stanley Wootliff, commenting on the results said:

'2003 was the fifth year of real progress by the Group, it was certainly a year
of ongoing improvement and development. We continued to focus upon our programme
of reorganising, repositioning and the creation of a coherent corporate

As we proceed further into the 2004 trading year, we are gaining increasing
confidence in the potential for our NinaSun canopy, which we believe should
create significant profits in due course.'

Commenting upon Future Prospects Stanley Wootliff stated that

'The NinaSun canopy is a very desirable, solar friendly, unique and exclusive
product protected by substantial Intellectual Property Rights. Initial response
from the market place leads us to believe that over the next few years we have
an opportunity to build a highly profitable and substantial international

For further information, please contact:

Stanley Wootliff, Executive Chairman
Graham Haselden, Finance Director

Tel:  0113 235 0632

19th April 2004


2003 was the fifth year of real progress by the Group, it was certainly a year
of ongoing improvement and development. We continued to focus upon our programme
of reorganising, repositioning and the creation of a coherent corporate

As we proceed further into the 2004 trading year we are gaining increasing
confidence in the potential for our NinaSun canopy, which we believe should
create significant profits in due course.

Business Performance

Group profit on ordinary activities before exceptional items for the year to end
December 2003  was £145,650 (2002: £72,084) having doubled compared to the prior
year.   The profit after exceptional items was £6,219 (2002: £72,084).

Exceptional items of £139,431 (2002: £Nil) relate to the costs associated with
the closure of the manufacturing operation in Bolton, re-location to more
appropriate office and warehouse premises, and the loss incurred in the sale of
freehold premises in Bucharest in 2004.

After provision for tax on overseas profits a retained loss of £115,321 (2002:
profit £9,411) is recorded.

Steady Growth of Traditional Business

The Group's traditional business had another year of steady progress and once
again provided the bedrock that enabled the continuation of the NinaSun canopy
development programme.  In the third quarter the Group's underwear manufacturing
unit in Bolton was closed, its production being replaced by imports.

Purchase of New Warehouse and Distribution Facilities

Approximately 13,000 square feet of warehousing and office facilities were
purchased in the Autumn.  These premises will be used to carry on the existing
Group businesses and also to facilitate the assembly, warehousing and
distribution of the new NinaSun canopies.

Sale of Office in Bucharest

In February 2004, we sold the office in Bucharest. The office had been a
necessary purchase in the aftermath of the Romanian Revolution.  At that time it
was the only way Caldwell could continue its sourcing operations in Bucharest.

Subsequently the position changed and for many years Caldwell has been trying to
divest itself of this property.  We are pleased to state that this has been
finally achieved. However, the collapse in the Dollar/Pound exchange rate caused
a loss against book value.

Change of Year End

The Company has decided to extend its current trading period from twelve to
fourteen months, to end February 2005. This is to relieve the pressure on our
various offices for stocktaking and accounting purposes in the Christmas period.

US and World Wide Patents for Ninaclip and NinaSun

The Group aims to take full advantage of the potential huge world market for its
unique, patented NinaSun Canopy, by developing an extensive range of products to
satisfy the demands of the leisure furniture markets for sun protection that the
NinaSun canopy can give.

We are set on establishing a business model that will stand the test of time,
providing a unique range of desirable solar friendly outdoor furniture products
using Caldwell's patented Ninaclip technology.

In early March 2004 the Group announced the granting of the Ninaclip Patent in
the U.S.A.  This was in addition to the 58 NinaSun and Ninaclip Patents, Trade
Marks and Registered Designs already granted in relevant countries.  Still being
processed are further Patent Co-operation Treaty Patent Applications covering
123 countries.

NinaSun Brazil LTDA

After carrying out a four-month trial, the Marriott Hotel in Sao Paulo, Brazil,
placed an initial order for the NinaSun Canopy.   The Marriott has also given
permission for it's hotel to be used as a location for promotional photography.

Brazil is the world's second biggest market for swimming pools.  Initial
investigation of the Brazilian Market indicates a strong  potential demand for
the NinaSun Canopy, and in order to take advantage of this potential,  we will
be establishing a wholly-owned Brazilian subsidiary.

Eastern Europe

As NinaSun's European market develops, we intend to take advantage of our
long-standing Romanian relationships to establish manufacturing, warehousing and
distribution in Romania.  This will enable us to produce our canopies at highly
competitive rates without losing control over quality and customer service.

Far East

In due course we will look to service Far Eastern Markets by establishing a
commercial office in Singapore, together with manufacturing in China. This will
be done with long- standing associates in the area.

Future Prospects - Traditional Business

Strengthening of the Euro against the US dollar has introduced a high degree of
uncertainty into the German market.   This makes forecasting for the underwear
business for the coming year difficult and leads us to be cautious in our
forward budgeting,


As stated above, regarding the underwear business for the coming period, we have
to be cautious.

However, we are more hopeful regarding the prospects for the NinaSun canopy, a
very desirable, solar friendly, unique and exclusive product protected by
substantial Intellectual Property Rights. Initial response from the market place
leads us to believe that over the next few years we have an opportunity to build
a highly profitable and substantial international business.

On a personal note I would like to thank my colleagues and all Caldwell
employees for their contributions, without whom these achievements would not
have been possible.

Stanley Wootliff, Executive Chairman

19th April 2004



                                                          Before    Exceptional         Total         Total
                                                     Exceptional          Items          2003          2002
                                                           Items             £              £             £
Turnover - continuing operations                       8,086,785             0      8,086,785     7,315,792

Cost of sales                                         (6,631,288)            0     (6,631,288)   (5,957,712)
Gross Profit                                           1,455,497             0      1,455,497     1,358,080
Distribution costs                                      (162,715)            0       (162,715)     (154,293)
Administration  expenses                              (1,136,239)     (139,431)    (1,275,670)   (1,105,707)
Other operating income                                    57,580             0         57,580         52,141
Operating profit - continuing operations                 214,123      (139,431)        74,692        150,221

Net interest payable                                                                  (68,473)       (78,137)

Profit on ordinary activities before taxation                                           6,219         72,084
Tax on profit on ordinary activities                                                 (121,540)       (62,673)

Retained (loss)/profit for the financial year                                        (115,321)         9,411

(Loss)/earnings per share
Basic                                                                                  (0.75p)       0.07p
Diluted                                                                                (0.75p)       0.06p



                                                               GROUP                      COMPANY
                                                      2003            2002       2003             2002
                                                         £               £          £                £
Fixed assets

Intangible assets                                  278,006         288,896          0                0
Tangible assets                                    584,497         300,884    270,415           22,506
Investments                                              0               0  2,382,906        2,382,906
                                                   862,503         589,780  2,653,321        2,405,412

Current assets
Stocks                                           1,426,229       1,450,489          0                0
Debtors falling due within 1 year                2,171,007       1,553,538    997,993          889,511
Cash at bank and in hand                           247,174         554,577          0                0 

                                                 3,844,410       3,558,604    997,993          889,511

Creditors: amounts falling due within one
year                                           (2,315,019)     (2,232,556)  (186,053)        (346,715)

Net current assets                               1,529,391       1,326,048    811,940          542,796

Total assets less current liabilities            2,391,894       1,915,828  3,465,261        2,984,208

Creditors: amounts falling due after more
than  one year                                    (264,165)              0   (264,165)                0

Provisions for liabilities and charges                   0               0          0                0

Net assets                                       2,127,729       1,915,828  3,201,096        2,948,208

Capital and reserves

Called up share capital                          1,666,250       1,508,750  1,666,250        1,508,750
Share premium account                            1,302,559       1,239,255  1.302,559        1,239,255
Capital redemption reserve                          27,000          27,000     27,000           27,000
Revaluation reserve                                 27,000               0     27,000                0
Profit and loss account                          (895,080)       (859,177)    178,287          173,203
Equity Shareholders' funds                       2,127,729       1,915,828  3,201,096        2,948,208



                                                                                     2003             2002
                                                                                        £                £
Net cash (outflow)/inflow from operating activities                             (243,769)          156,608

Returns on investments and servicing of finance
Interest received                                                                  11,918            7,198
Interest paid                                                                    (79,151)         (85,335)
Finance lease interest paid                                                       (1,240)               0
Net cash outflow from returns on investments and servicing of finance            (68,473)         (78,137)

Tax paid                                                                         (80,086)            (697)

Capital expenditure and financial investment
Purchase of intangible fixed assets                                              (23,872)         (17,211)
Purchase of tangible fixed assets                                               (331,410)         (65,702)
Receipt from sale of fixed assets                                                 23,258           11,812

Net cash outflow from capital expenditure                                       (332,024)         (71,101)

Net cash (outflow)/inflow before financing                                      (724,352)            6,673

Issue of Shares                                                                   232,500          130,000
Share issuing expenses                                                           (11,696)                0
New loans                                                                         252,000                0
Repayment of bank loans                                                           (5,448)                0
Repayment of other loans                                                         (30,000)        (120,000)
Capital element of finance lease payments                                         (8,333)                0
Net cash inflow from financing                                                    429,023           10,000

(Decrease)/Increase in cash in the year                                         (295,329)           16,673


This preliminary statement of annual results which covers the year to 31
December 2003 has been agreed by the Group's auditors and is consistent with the
full financial statements.

The abridged preliminary Group accounts for the year ended 31 December 2003 are
not statutory accounts and have been extracted from the full statutory accounts
for the year ended 31 December 2003.   The full statutory accounts for the year
on which the auditor's report is unqualified will be delivered to the Registrar
of Companies in due course.

The comparative figures for the year to 31 December 2002 are abridged from the
accounts for that year and do not constitute full accounts within the meaning of
Section 240 of the Companies Act 1985 (as amended).   Statutory accounts for
that year on which the auditors gave an unqualified opinion have been delivered
to the Registrar of Companies.


The calculation of basic earnings/(loss) per share is based on earnings (losses)
attributable to ordinary shareholders divided by the weighted average number of
shares in issue during the year.   The calculation of diluted earnings per share
is based on the basic earnings/(loss) per share adjusted to allow for the
assumed conversion of all dilutive options.   As the impact of issuing potential
ordinary shares is anti-dilutive, the diluted loss per share in 2003 is
equivalent to the basic loss per share.


The annual report will be mailed to shareholders on or around 2 May 2004.
Copies will be available after that date from:  The Secretary, Caldwell
Investments P.L.C., 647 Roundhay Road, Leeds, West Yorkshire LS8   4BA.


The Annual General Meeting will be held at Ninahouse, Unit 9, Prospect Place,
East Pimbo Industrial Estate, Skelmersdale, Lancashire, WN8  9QD on Friday 4th
June 2004 at 12 noon.

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                     

a d v e r t i s e m e n t