Aspartus plc
LSE : ASPP

November 27, 2009 10:39 ET

Interim results to 31 August 2009

ASPARTUS PLC (The "Company")

CHAIRMAN'S STATEMENT

Interim accounts for the six months ended 31 August 2009



OVERVIEW

The  Company  remains a cash shell at present, although continuing actively to seek new  opportunities  to
enhance shareholder value.

We  are  maintaining  a tight control of the company's resources, which we consider  adequate  to  support
current levels of expenditure.

FINANCIAL OVERVIEW

The  Company continues to own minority stakes in Kleenair Systems International Plc and Ovidia Investments
Plc at 31 August 2009; both remain dormant at present.

The  Company  has  not  yet made an acquisition and the expenses incurred to date relate  to  the  routine
listing maintenance and administration.

As  no  suitable investment has yet been made we will seek shareholder approval at the next Annual General
Meeting  which  will  be announced with the full year figures, to further the pursuit  of  our  investment
strategy.

CASH FLOW AND FUNDING

The Company had cash in hand of GBP35,000 at 31 August 2009 and this has not materially altered since that
date.

It  is  not expected that the rate of routine expenditure and administration will vary materially  in  the
near future.

OUTLOOK

The Board continues to seek ways, by acquisition, to enhance shareholder value.


L.E.V. Knifton
Chairman

27 November 2009


The Directors of the Issuer accept responsibility for this announcement.

FOR FURTHER INFORMATION PLEASE CONTACT:

Leo Knifton
Aspartus PLC
Finsgate
5-7 Cranwood Street
London
EC1V 9EE
Tel:  +44 (0) 20 7309 2223
Fax: +44 (0) 20 7566 0023

Nick Michaels
Alfred Henry Corporate Finance Limited
Tel:  +44 (0) 20 7251 3762


PROFIT AND LOSS ACCOUNT
FOR THE SIX MONTHS TO 31 AUGUST 2009

                                                                Unaudited         Audited         Unaudited
                                                              6 months to         Year to       6 Months to
                                                           31 August 2009     28 February    31 August 2008
                                                                                     2009
                                                   Note           GBP'000         GBP'000           GBP'000
                                                                                            
Administrative expenses                                            (15)            (152)             (19)
                                                                                            
Profit/(loss) on disposal or revaluation of                                                 
investments                                                          -             (106)               6
                                                                  ------          ------            ------
Operating profit (loss)                                            (15)            (258)             (13)
                                                                                            
Interest receivable                                                  -                2                2
                                                                  ------          ------            ------               
Profit  (Loss)  on  ordinary  activities  before                   (15)            (256)             (11)
taxation
                                                                                            
Tax on profit(loss) on ordinary activities                           -                -                -
                                                                  ------          ------            ------  
Retained profit(loss) for the financial period                     (15)            (256)             (11)
                                                                  ======          ======            ======

                                                                  Pence           Pence             Pence
Loss per share                                                                              
Basic earnings per share                            2            (0.07)            (1.19)           (0.05)
Diluted earnings per share                          2            (0.07)            (1.19)           (0.04)
                                                                                            


BALANCE SHEET
AS AT 31 AUGUST 2009
                                                               Unaudited          Audited         Unaudited
                                                             6 Months to          Year to       6 Months to
                                                               31 August      28 February         31 August
                                                                    2009             2009              2008
                                                                 GBP'000          GBP'000           GBP'000
                                                                                                           
Fixed Assets                                                                                 
Investments                                                          -                -               112
                                                                  ------          ------            ------      
Current Assets                                                                               
Debtors                                                             12                7                34
Cash at bank and in hand                                            35               21                90
                                                                  ------          ------            ------
                                                                    47               28               124
Creditors                                                                                    
Amounts falling due within one year                                (15)             (22)              (16)
                                                                  ------          ------            ------   
Net current assets                                                  32                6               108
                                                                  ------          ------            ------
Creditors                                                                                    
Amounts falling due after more                                                               
than one year                                                      (71)             (30)               -
                                                                  ------          ------            ------
Net assets                                                      GBP(39)          GBP(24)           GBP220
                                                                  ======          ======            ======             
Capital and reserves                                                                      
Called up share capital                                             21               21                21
Share premium account                                              230              230               230
Profit and loss account                                           (290)            (275)              (31)
                                                                  ------          ------            ------     
Equity shareholders' Funds                                      GBP(39)          GBP(24)           GBP220
                                                                  ======          ======            ======

RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
                                                              Unaudited          Audited          Unaudited
                                                            6 Months to          Year to        6 Months to
                                                              31 August      28 February          31 August
                                                                   2009             2009               2007
                                                                GBP'000          GBP'000            GBP'000
                                                                                            
Profit (Loss) for the period                                      (15)             (256)              (11)
                                                                 ------           ------            ------
                                                                                            
Net (decrease)/increase in shareholders' funds                    (15)               -                (11)
Equity shareholders' funds brought forward                        (24)              232              (231)
                                                                 ------           ------            ------
Equity shareholders' funds carried forward                     GBP(39)           GBP(24)           GBP220
                                                                 ======           ======            ======
Cash Flow Statement
for the six months ended 31 August 2009
                                                     
                                                     

                                                              Unaudited         Audited         Unaudited
                                                          Six months to         Year to     Six months to
                                                              31 August     28 February         31 August
                                                                   2009            2009              2008
                                              Note              GBP'000         GBP'000           GBP'000
                                                                                           
Cash inflow (outflow) from operating                                                       
activities                                      3                (27)              (24)               75
                                                                ------           ------            ------
Returns on investments                                            -                  2                 2
                                                                ------           ------            ------  
Acquisitions and disposals                                                                 
Fixed asset investment                                            -                (40)              (40)
Disposal of fixed asset investment                                -                 15                15
                                                                ------           ------            ------
                                                                  -                (25)              (25)
                                                                ------           ------            ------
Financing                                                                                  
Convertible loan                                                  41                30                -
                                                                ------           ------            ------       
Cash increase in the period                                       14               (17)               52
                                                                ======           ======            ======              

Reconciliation of Net Cash Flow to Movement in Net Debt
                                                     
                                                            Unaudited         Audited          Unaudited
                                                          Six months to       Year to        Six months to
                                                            31 August       28 February        31 August
                                                               2009             2009             2008

                                                             GBP'000          GBP'000           GBP'000
                                                                                            
Increase in cash in the period                                   14              (17)             52
Cash outflow (inflow) from decrease (increase) in debt          (41)              10               -
Net debt brought forward                                         (9)              (2)              -
                                                               -----            -----           -----   
Net funds/(debt) carried forward                                (36)              (9)             52
                                                               =====            =====           =====
                                                                                            

NOTES TO THE INTERIM ACCOUNTS

FOR THE SIX MONTHS ENDED 31 AUGUST 2009


1.    ACCOUNTING POLICIES

            (a)     Basis of preparation

            The interim report has been prepared using accounting policies consistent with those  set out
            in the  Company's  Annual Report and Accounts for the period  to  28  February  2009.   Those
            financial statements were prepared on a going concern basis.

            The interim report for the six months to 31 August 2009 was approved by the Board on 27 November 2009
            
2.      PROFIT/(LOSS) PER SHARE
                                                             Unaudited            Audited           Unaudited
                                                         Six months to            Year to       Six months to
                                                             31 August        28 February           31 August
                                                                  2009               2009                2008
                                                                 Pence              Pence               Pence
                                                                                            
       Profit (Loss) per ordinary share                                                     
       - basic                                                   (0.07)              (1.19)             (0.05)
       - diluted                                                 (0.07)              (1.19)             (0.04)
                                                                                            
                                                               GBP'000            GBP'000             GBP'000
                                                                                            
       Profit (Loss) for period                                    (15)               (256)              (11)
                                                                                            
                                                                Number             Number              Number
       - basic                                              21,459,350          21,459,350         21,459,350
       - diluted                                            30,000,000          30,000,000         30,000,000
                                                                                            
  
3.      RECONCILIATION OF OPERATING LOSS TO NET OUTFLOW FROM OPERATING ACTIVITIES

                                                            Unaudited            Audited            Unaudited
                                                        Six months to            Year to        Six months to
                                                            31 August        28 February            31 August
                                                                 2009               2009                 2008
       
                                                              GBP'000            GBP'000              GBP'000
                                                                                             
       Operating profit (loss)                                   (15)              (152)                (13)
       Profit on disposal of investment                            -                 -                   (6)
       Net (increase)/decrease in debtors                         (5)               162                 134
       Net increase/(decrease) in creditors                       (7)               (34)                (40)
                                                               -----              -----                -----  
       Net inflow(outflow) from operating
       activities                                                (27)               (24)                 75
                                                               =====              =====                =====
       
 
4.   The information for the period ended 28 February 2009 was extracted from the audited accounts, which
     have been delivered to Registrar of Companies and received an unqualified audit opinion.  The
     unaudited results for the six months period have been prepared on basis consistent with the
     Accounting Policies disclosed in the Company's 2008 accounts and do not constitute statutory accounts
     within the meaning of Section 435 of the Companies Act 2006.


5.    Copies of this interim statement are available from the Company at its registered office at Finsgate,  5-
      7 Cranwood Street, London EC1V 9EE.

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