Storyboard Assets Plc
LSE : STYP

August 31, 2010 04:15 ET

Unaudited Interim Results for the six months ended 31 May 2010

                                                                                        31/08/2010
                                                                         GB00B3DBY868/GBP/PLUS-exn
                                                 
                                       STORYBOARD ASSETS PLC
                                  ("Storyboard" or the "Company")

                  Unaudited Interim Results  for the six months ended 31 May 2010


The  period under review has seen further progress in both portfolio acquisitions and in profiling
our  collection at various venues in England. Lease income for the first 6 months was  £8,000  and
there  were  no  artwork sales during the period. A loss of £42,842 was in  line  with  management
expectations,  with  the  Company of the view that breakeven in the  current  year  is  achievable
through a combination of lease income and portfolio churn.

Of  note  during the period was a small, but nonetheless significant mention of Storyboard's  "The
Apple  Gatherers"  in  a  publication  produced  by  the  Beatrix  Potter  Society.  The  magazine
acknowledged that the pieces owned by Storyboard were contenders for the first known illustrations
of  Peter  Rabbit and Benjamin Bunny. As the market for original and fine Beatrix Potter  artworks
becomes  tighter  and  tighter  and  as new buyers emerge from Russia  and  China;  Storyboard  is
confident that its long-term approach will yield significant profits from its principal pieces.

Storyboard owns some of the most iconic, original artworks from the world of literature. Pieces by
Beatrix  Potter, EH Shepard, Quentin Blake and Arthur Rackham have recently been  joined  by  more
modern  works  by David McKee (Elmer the Elephant) and Anita Jeram (Goodnight Sam), among  others.
Meanwhile, Storyboard is delighted to announce it has acquired arguably the most iconic EH Shepard
artwork  from Kenneth Graeme's the Wind in the Willows - Rat rowing his boat accompanied by  Mole,
as featured in the pivotal chapter 7 (The Piper at the Gates of Dawn). In addition, Storyboard has
bought the preliminary drawings by Beatrix Potter for the Fierce Bad Rabbit.

We look forward to reporting further progress at the full year stage.

Marcus Yeoman
Chairman







PROFIT & LOSS ACCOUNT                                                               
                                                             Period                    Period
                                                            01/12/2009                 01/12/2008
                                                               to                        to
                                                            31/05/2010                 31/05/2009
                                                               £                          £
                                                                                    
Turnover                                                                                         
                                                                 8,400                          -
                                                                                                 
Administrative Expenses                                                                          
                                                                51,242                     50,080
                                                                                    
OPERATING LOSS ON ORDINARY ACTIVITIES                                               
BEFORE TAXATION                                                      -                     50,080
                                                                42,842
                                                                                                 
LOSS ON ORDINARY ACTIVITIES                                                                      
BEFORE TAXATION                                                      -                     50,080
                                                                42,842
                                                                                                 
Tax on Loss of Ordinary Activities                                                               
                                                                     -                          -
                                                                                                 
LOSS FOR THE FINANCIAL PERIOD                                                                    
AFTER TAXATION                                                       -                          -
                                                                42,842                     50,080
                                                                                                 
Basic Loss Per Share (p)                                             -                           
                                                                  3.47                        8.0
                                                                                                 
                                                                                                 
 




BALANCE SHEET AS AT                                                                    
                                                                31/5/2010                 31/11/2009
                                                                  £                          £
                                                                                       
FIXED ASSETS                                                                           
Tangible Assets                                                       765                        916
Investments                                                       332,145                    291,363
                                                                                       
                                                                  332,910                    292,279
CURRENT ASSETS                                                                         
Debtors                                                               400                      2,659
Cash at Bank and in Hand                                           91,772                         96
                                                                                       
                                                                   92,172                      2,755
CREDITORS                                                                              
Amounts falling due within one year                                 3,900                     11,350
                                                                                       
NET CURRENT (LIABILITIES)/ASSETS                                   88,272                    (8,595)
                                                                                       
TOTAL ASSETS LESS CURRENT LIABILITIES                             421,183                    283,684
                                                                                       
                                                                                       
                                                                                       
CAPITAL AND RESERVES                                                                   
Called Up Share Capital                                           247,230                    126,902
Share Premium                                                     404,014                    343,850
Profit and Loss Account                                         (230,061)                  (187,068)
                                                                                       
SHAREHOLDERS FUNDS                                                421,183                    283,684
                                                                                       
                                                                                       

The results for the 6 months ended 31 May 2010 have not been reviewed by the Company's auditors.

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

Enquiries:

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