ZimNRG plc
LSE : ZIMO

May 30, 2013 13:30 ET

Unaudited Annual Financial Statements

                                            ZIMNRG PLC
                                                 
                               COMPANY REGISTRATION NUMBER 05714562
                                                 
                                  UNAUDITED FINANCIAL STATEMENTS
                                                 
                                         28 FEBRUARY 2013




The board of directors         V. Chitalu
                               J.C.W. De Thierry
                               C.P. Latilla-Campbell

Company secretary              City Group Plc

Registered office              30 City Road
                               London
                               EC1Y 2AV

Auditor                        Edwards Veeder (Oldham) LLP
                               Chartered Accountants
                               & Statutory Auditor
                               Block E, Brunswick Square
                               Union Street
                               Oldham
                               OL1 1DE

Bankers                        Lloyds TSB Bank plc
                               39 Threadneedle Street
                               London
                               EC2R 8PT

Solicitors                     Edwin Coe
                               2 Stone Buildings
                               Lincoln's Inn
                               London
                               WC2A 2TH
                                                 
                                                 
                                            ZIMNRG PLC
                                                 
                                       THE DIRECTORS' REPORT
                                                 
                                    YEAR ENDED 28 FEBRUARY 2013
                                                 
The  Directors are pleased to announce unaudited results for the year ending 28 February 2013. The
audited results are expected to be sent to shareholders as soon as they become available.
                                                 
PRINCIPAL ACTIVITIES AND BUSINESS REVIEW

The principal activity of the company during the year was that of an investment holding company.

The  results for the year represent a significant improvement in performance as consequence of the
deliberate policy of cost containment, including the Directors waiving their fees and improvements
in the strength of the US dollar and also of the Zimbabwe stock market.

Your  Directors have been pursuing select mineral investment opportunities both within and outside
of   Southern Africa as reported  previously and continue to hope that this will result in a  near
term  proposal  for your consideration . Zimbabwe's mineral investment landscape  however  remains
very uncertain and, sadly, your Directors cannot yet recommend refocusing in that direction.

Please  note  your  Directors  will  continue to waive their  fees  until  a  suitable  investment
opportunity is identified.

RESULTS AND DIVIDENDS

The  loss for the year, after taxation, amounted to £11,369 (2012 - £100,842). The Directors  have
not recommended a dividend.            
                                               
                                       
                                            ZIMNRG PLC
                                                 
                                 UNAUDITED PROFIT AND LOSS ACCOUNT
                                                 
                                    YEAR ENDED 28 FEBRUARY 2013

                                                                       2013                           2012
                                                                        £                              £
TURNOVER                                                                   -                              -

Administrative expenses                                               15,519                          93,113
Other operating income                                               (2,986)                         (1,853)
                                                              --------------                  --------------
OPERATING LOSS                                                      (12,533)                        (91,260)
                                                                                              
Profit/(loss) on disposal of current asset investments                   323                        (10,107)
                                                              --------------                  --------------
                                                                    (12,210)                       (101,367)
                                                                                              
Interest receivable                                                      842                             590
                                                                                              
                                                              --------------                  --------------

LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION                         (11,368)                       (100,777)

Tax on loss on ordinary activities                                         -                              65
                                                                                              
                                                              --------------                  --------------
LOSS FOR THE FINANCIAL YEAR                                         (11,368)                       (100,842)

Balance brought forward                                            (649,032)                       (548,190)
                                                              --------------                  --------------
Balance carried forward                                            (660,400)                       (649,032)
                                                              ==============                  ==============

Earnings per share (pence)

Basic                                                                 (0.02)                          (0.21)
                                                                     =======                         =======
Diluted                                                               (0.02)                          (0.20)
                                                                     =======                         =======
                    
                    All of the activities of the company are classed as continuing.

               The company has no recognised gains or losses other than the results for the
                                          year as set out above.


                                            ZIMNRG PLC
                                                 
                                      UNADITED BALANCE SHEET
                                                 
                                         28 FEBRUARY 2013

                                                            2013                           2012
                                                         £               £               £              £
CURRENT ASSETS
Debtors                                                17,414                          35,422          
Investments                                           145,226                         109,992         
Cash at bank and in hand                               95,412                         123,913         
                                               --------------                  --------------  
                                                      258,052                         269,327         

CREDITORS: Amounts falling due within one               9,532                           9,439           
year                                           --------------                  --------------  

NET CURRENT ASSETS                                                   248,520                         259,888
                                                              --------------                  --------------
TOTAL ASSETS LESS CURRENT LIABILITIES                                248,520                         259,888
                                                              ==============                  ==============
CAPITAL AND RESERVES
Called-up equity share capital                                       241,660                         241,660
Share premium account                                                667,260                         667,260
Profit and loss account                                            (660,400)                       (649,032)
                                                              --------------                  --------------
SHAREHOLDERS' FUNDS                                                  248,520                         259,888
                                                              ==============                  ==============


Contact Information

  • ZimNRG plc