Storyboard Assets Plc
LSE : STYP

June 29, 2012 09:48 ET

Audited Financial Results for the year ended 31st January 2012

                                                                                                          
                                                                                                29/06/2012
                                                                                 GB00B3DBY868/GBP/PLUS-exn

                                           Storyboard Assets Plc
                                      ("Storyboard" or the "Company")

                      Audited Financial Results for the year ended 31st January 2012

Chairman's Statement

Storyboard   today   announces a loss of GBP33,455. The year was most notably marked  by  the  decision  to
liquidate  the  Company's  assets via auction. This decision was reached with  shareholder  approval  after
determining  that  the  interests of shareholders would be best served by  a  managed  liquidation  of  the
remaining artwork, followed by a change of strategic direction for the Company.

It  is  Storyboard's intention that the Company should remain on the PLUS-quoted Market as  an  "Investment
Vehicle"  following  the disposal. The sale of the Company's portfolio is being conducted  via  auction  at
Sotheby's  in London on Tuesday 10th July 2012. There can be no guarantee that any or all of the  Company's
works will attract a buyer at the sale, although there is known to be tangible interest in a number of  the
Company's pieces.

Storyboard will report back to the market immediately following the sale.

Marcus Yeoman
Chairman

Dividends

No dividends will be distributed for the year ended 31st January 2012.

                            Storyboard Assets Plc (Registered number: 06436259)

                                          Profit and Loss Account
                                   For the year ended 31st January 2012

                                                                   Year Ended     Period Ended
                                                                     31.01.12         31.01.11

                                                                          GBP              GBP

TURNOVER                                                                    -           14,000

Administrative expenses                                                50,973           68,870
                                                                     ________         ________

OPERATING LOSS                                                        (50,973)         (54,870)

Profit on sale of Investments                                          17,518              750
                                                                     ________         ________

LOSS ON ORDINARY ACTIVITIES
BEFORE TAXATION                                                       (33,455)         (54,120)
 
Tax on loss on ordinary activities                                          -                -
                                                                     _________        ________


LOSS FOR THE FINANCIAL YEAR
AFTER TAXATION                                                        (33,455)         (54,120)
                                                                     ________         ________

Earnings per share expressed
In pence per share

Basic                                                                   -2.71            -5.31
Diluted                                                                 -2.71            -5.31
                                                                     ________         ________

CONTINUING OPERATIONS
None of the Company's activities were acquired or discontinued during the current year or previous period.

TOTAL RECOGNISED GAINS AND LOSSES
The  Company  has  no  recognised gains or losses other than the losses for the current  year  or  previous
period.

                            Storyboard Assets Plc (Registered number: 06436259)
                                                     
                                               Balance Sheet
                                             31st January 2012
                                                                     31.01.12         31.01.11

                                                                          GBP              GBP

FIXED ASSETS
Tangible assets                                                           293              437
Investments                                                           368,292          382,604
                                                                     ________         ________

                                                                      368,584          383,041
                                                                     ________         ________
CURRENT ASSETS
Debtors                                                                 9,552           21,120
Cash at bank and in hand                                               10,194           11,595
                                                                     ________         ________

                                                                       19,746           32,715

CREDITORS
Amounts falling due within one year                                   (11,729)          (5,700)
                                                                     ________         ________

NET CURRENT (LIABILITIES/ASSETS)                                        8,017           27,015
                                                                     ________         ________


TOTAL ASSETS LESS CURRENT LIABILITIES                                 376,601          410,056
                                                                     ________         ________

CAPITAL AND RESERVES
Called up share capital                                               247,230          247,230
Share premium                                                         404,014          404,014
Profit and Loss account                                              (274,643)        (241,188)
                                                                     ________         ________

SHAREHOLDERS FUNDS                                                    376,601          410,056
                                                                     ________         ________

The above are an extract from the full financial statements. A full version of the Report and Accounts will
be available on the PLUS website in due course.

The Directors of Storyboard are responsible for the contents of this announcement.

Contact Information:
Company:
Storyboard Assets Plc
Luke Heron
Tel: 07912 044 941

Corporate Adviser:
St Helens Capital Partners LLP
Duncan Vasey or Mark Anwyl
Tel: 020 7368 6959

Contact Information

  • Storyboard Assets Plc