Aspartus plc
LSE : ASPP

July 31, 2009 07:38 ET

Final Results for the period ended 28 February 2009

ASPARTUS PLC
RESULTS FOR THE PERIOD ENDED 28 FEBRUARY 2009


CHAIRMAN'S STATEMENT

On behalf of the Board of Directors of Aspartus PLC, I have the pleasure of presenting to you the results of
the company for the financial period ended 28 February 2009.

OVERVIEW
The  accounts for the year ended 28 February 2009 shows a loss of GBP255,674 (2008: profit 55,168) following
the  realisation  of some of the investments in Kleenair Systems PLC which resulted in  a  further  gain  on
disposal  of  GBP4,225.  Against  this the Company made an investment  into  a  business  involved  in  Nano
Technology that the Directors feel prudent to write off at the present time.

Kleenair Systems PLC went into a Company Voluntary Arrangement which was approved by the creditors on the 19
June  2009 and the members on the 24 June 2009. A provision of GBP70,225 has been made against the  carrying
value.

During  the  year  your company converted a loan by the company to Ovidia Investments  Plc  ("Ovidia")  into
shares  that  company.  Ovidia lost its Stock Exchange quotation on 31 December 2008 and  we  considered  it
prudent to write the carrying value down to a nominal amount.

FUTURE OUTLOOK
The  Directors are confident that they will find a number of opportunities in the present financial  climate
which the Company will be able to take advantage of.



L. E. V Knifton
Chairman

31 July 2009

The Directors of the Issuer accept responsibility for this announcement.

FOR FURTHER INFORMATION PLEASE CONTACT:

Nigel Weller
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


 
 ASPARTUS PLC
 PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 28 FEBRUARY 2009
 
                                                                      2009                          2008
                                                                      GBP                           GBP
                                                                                                  
 Administrative expenses                                            (151,604)                     (44,820)
                                                                    -------                       -------
 Operating Profit/(loss)                                            (151,604)                     (44,820)
                                                                                                  
 Profit on realisation of investments                                  4,225                       99,276
                                                                                                  
 Provision for permanent diminution                                 (110,224)                          -  
 In value of investments
 Other interest receivable and similar                                 1,929                          712
 income
                                                                     -------                       ------
 Profit/(Loss) on ordinary activities                               (255,674)                      55,168
 before taxation
                                                                                                  
 Tax on loss on ordinary activities                                     -                             -
                                                                     -------                       ------
 Profit/(Loss) for the year                                         (255,674)                      55,168
                                                                     =======                       ======
                                                                                                  
 Profit/(Loss) per share - Basic                                    (1.19p)                        0.26p
                                     -                              (1.19p)                        0.18p
 Diluted
                                                                                                  
                                                                                                  
 The profit and loss account has been prepared on the basis that all operations are continuing operations.
                                                                                                  
 There are no recognised gains and losses other than those passing through the profit and loss account.
                                                                                                  

 
 ASPARTUS PLC
 BALANCE SHEET AS AT 28 FEBRUARY 2009
 
                                                                    2009                          2008
                                                              GBP             GBP            GBP            GBP
                                                                                                  
 Fixed assets
 Investments                                                                    2                        81,116
                                                                                                  
 Current assets
 Debtors                                                   7,260                        168,483  
 Cash at bank and in hand                                 20,441                         37,672  
                                                          ------                        -------  
                                                          27,701                        206,155  
 Creditors: amounts falling due within                   (22,075)                       (55,969)  
 one year
                                                          ------                        -------  
 Net current assets                                                         5,626                       150,186
                                                                          -------                       -------
 Total assets less current liabilities                                      5,628                       231,302
                                                                                                               
 Creditors: amounts falling due                                           (30,000)                          -
 after one year
                                                                          -------                       -------
                                                                          (24,372)                      231,302
                                                                          =======                       =======
                                                                                                  
 Capital and reserves
 Called up share capital                                                   21,459                        21,459
 Share premium account                                                    230,000                       230,000
 Profit and loss account                                                 (275,831)                      (20,157)
                                                                          -------                       -------
 Shareholders' funds                                                      (24,372)                      231,302
                                                                          =======                       =======
                                              
NOTES TO PRELIMINARY RESULTS
FOR THE YEAR ENDED 28 FEBRUARY 2009

1.      The  financial information set out above does not constitute statutory accounts for the  purpose  of
Section  240  of the Companies Act 1985.   The financial information has been extracted from  the  statutory
accounts of Aspartus Plc and is presented using the same accounting policies, which have not yet been  filed
with the Registrar of companies, but on which the auditors gave an unqualified report on 30 July 2009.

2. Earnings/(Loss) per share
The  Earnings  per share is based on the following Profit  /(losses)          2009            2008
and shares in issue:
                                                                                        
 Profit/(Loss)                                                            GBP(255,674)       GBP55,168
                                                                                        
 Number of shares in issue                                                   Number          Number
 Basic and diluted                                                          21,459,350      21,459,350

Contact Information

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