Aquarius Media plc
LSE : AQMP

December 23, 2010 10:31 ET

Half year report

                                                   
                                          AQUARIUS MEDIA PLC
                                     ('Aquarius' or 'the Company')

                        INTERIM RESULTS FOR THE PERIOD ENDED 30 SEPTEMBER 2010
                                                   
CHAIRMAN'S STATEMENT

Review of Activities and post balance sheet events
As  noted  in  the Company's Final Results Announcement issued on 20 August 2010, the  Company's  sole
subsidiary  was  placed into liquidation on 6 August 2010.  Since that date, the directors  have  been
seeking  further opportunities and are currently in negotiations with a party interested  helping  the
future  development  of the Companyin the Company.  Assuming the success of these  negotiations,  Tthe
directors  expect  to  be able to issue a circular to shareholders early in the new  year  which  will
indicate the future direction of the Company.
In  the  meantime,  the directors have received assurances of support from a third  party  which  will
enable the Company to meet its ongoing liabilities with regard to its continued listing on PLUS.

Financial overview
After  an impairment write-off of £12,509, the loss before tax and basic loss per share for the period
amounted to £48,377 (2009: £43,681 loss) and 0.07p (2009: 0.07p loss per share), respectively.  As  at
30  September  2010,  shareholders' liabilities were £170,545 (2009: £34,096) and cash  balances  were
£1,821 (2009: £11,095).


Outlook
The  Directors  wish  to  thank the staff of Full Portion for their efforts during  what  has  been  a
difficult  period  and  are  confident that the Company's progress can  be  continued  over  the  next
reporting  period. The Directors will continue to seek further opportunities to enhance the  value  of
the business through strategic partnerships or acquisitions and/or mergers.


Teresa Maharajh
Chairman



CONSOLIDATED INCOME STATEMENT
For The Period Ended 30 September 2010

                                                        Period           Period               
                                                      01.04.10 to      01.04.09 to       Year ended
                                                       30.09.10         30.09.09          31.03.10
                                                       6 months         6 months         12 months
                                                       Unaudited        Unaudited         Audited
                                                          GBP              GBP              GBP
                                                                                       
REVENUE                                             80,681           201,317           360,390
                                                                                       
Cost of sales                                       (2,083)          (7,014)           (9,158)
                                                    _________        _________         _________
                                                                                       
GROSS PROFIT                                        78,598           194,303           351,232
                                                                                       
Administrative expenses                             (111,319)        (237,097)         (473,383)
Impairment provisions                               (12,509)         -                 (298,690)
                                                    _________        _________         _________
                                                                                       
LOSS FROM OPERATIONS                                (45,230)         (42,794)          (420,841)
                                                                                       
Finance revenue                                     -                -                 -
Finance charges                                     (3,147)          (887)             (1,239)
                                                    _________        _________         _________
                                                                                       
LOSS BEFORE TAX                                     (48,377)         (43,681)          (422,080)
                                                                                       
Taxation                                            -                -                 -
                                                    _________        _________         _________
                                                                                       
LOSS FOR THE PERIOD                                 (48,377)         (43,681)          (422,080)
                                                    
                                                    _________              _________   _________
                                                                                       
Basic and diluted loss per share (note 1)                   (0.07)p          (0.07)p   (0.65)p


BALANCE SHEET
As at 30 September 2010

                                                      At 30.09.10      At 30.09.09      At 31.03.10
                                                       Unaudited        Unaudited         Audited
                                                           £                £                £
Non-current assets                                                                                   
Intangible fixed assets                             -                298,690           -
Financial assets                                    -                6,275             6,274
                                                    _______          _______           _______
                                                                                       
                                                    -                304,965           6,274
                                                                                       
Current assets                                                                         
Trade and other receivables                         1,365            49,212            41,506
Cash and cash equivalents                           1,821            11,095            11,060
                                                    _______          _______           _______
                                                                                       
                                                    3,186            60,307            52,566
                                                                                       
Current liabilities                                                                    
Trade and other payables                            (173,731)        (331,176)         (338,181)
                                                    ________         ________          ________
Net current liabilities                             (170,745)        (270,869)         (285,615)
                                                    ________         ________          ________
                                                                                       
NET LIABILITIES                                     (170,745)        34,096            (279,341)
                                                    ________         ________          ________
                                                                                       
Equity                                                                                 
Issued share capital                                212,917          212,917           212,917
Share premium account                               289,360          289,360           289,360
Merger reserve                                      1,219,167        1,219,167         1,219,167
Reverse acquisition reserve                         -                (561,210)         (561,210)
Profit & loss account                               (1,891,989)      (1,126,138)       (1,439,575)
                                                    ________         ________          ________
                                                                                       
SHAREHOLDERS' LIABILITIES                           (170,745)        34,096            (279,341)
                                                    ________         ________          ________


Notes to the financial information

1.      The  calculation of loss per share is based on the loss on ordinary activities after  taxation
        and the weighted average number of shares of 65,166,666 in issue during the period.  Due to the loss
        incurred in the period under review, the dilutive securities have no effect as at 30 September 2010.
        
2.      The  Interim  Results have not been audited and the financial information contained  in  these
        results has not been agreed with an auditor.

3.      While  the financial information included in this announcement has been computed in accordance
        with International Financial Reporting Standards (IFRS), this announcement does not itself contain
        sufficient information to comply with IFRS.  The full financial statements of the company will be
        prepared in accordance with IFRS, International Accounting Standards and their interpretations issued
        or adopted by the International Accounting Standards Board as adopted for use in the European Union.

4.      The  financial information has not been audited or reviewed by the auditors, or extracted from
        audited information.  This financial statement does not constitute statutory accounts within the
        meaning of Section 435 of the Companies Act 2006 (the "Act").

5.      The Directors have not declared a dividend for the period.

6.      This  statement  was approved by the Board of Directors on 23 December 2010.  Copies  of  this
        statement will be available free of charge from the Company's Registered Office at Hilden Park House,
        79 Tonbridge Road, Hildenborough, Kent  TN11 9BH.




AQUARIUS MEDIA PLC
Registered No. 06138814

Contacts:

Company                                     
Teresa Maharajh                                   0845 225 1500
                                                               
PLUS Corporate Adviser                                         
Rivington Street Corporate Finance                             
Eran Zucker                                       020 7562 3373

Contact Information

  • Aquarius Media plc