Claridge Public LTD — Audit Report / Information 2014

Apr 29, 2015

Consolidated statement of comprehensive income for the year ended 31 December 2014

Note € Continued operations Revenues 6 500.000 1.550.541 Cost of sales 9 (593.523) (2.030.751) Gross profit (93.523) (480.210) Selling and marketing costs $\boldsymbol{9}$ (85.835) (204.566) Administrative expense 9 (950.102) (691.529) Other income $\overline{7}$ 72.589 514 Other losses 8 (2.383.237) (47.945) Operating loss (3,440.108) (1.423.736) Finance costs 11 (37.620) (42.729) Loss before tax (3.477.728) (1.466.465) Tax 12 Loss for the year from continued operations (3.477.728) (1.466.465) Discontinued operations Loss for the year from discontinued operations 20 (7.805.815) (5.818.920) Net loss for the year (11.283.543) (7.285.385) Loss per share attributable to company's shareholders (cent per share)-continued operations (3,22) (1, 36) Loss per share attributable to company's shareholders (cent per share) - discontinued operations (7, 22) (5, 38) Other comprehensive income/(losses): Items that will not be reclassified to profit or loss 25 (11.579) (18.667) (discontinued operations) Loss on revaluation of associated company 25 (469.091) (continued operations) Loss on revaluation (discontinued operations) 25 (2.271.886) (1.649.445) (2.752.556) (1.668.112) Items that may be subsequently reclassified to profit or loss Available-for-sale financial assets-fair value (loss)/gain (continued operations) 17 (1.370) 1.166 Other total comprehensive loss for the year after tax (2.753.926) (1.666.946) Total loss for the year (14.037.469) (8.952.331) Total loss per share attributable to company's shareholders (cent per share) Basic (12, 97) (8, 27)		2014	2013

Items in the statement above are disclosed net of tax. The income tax relating to each component of other comprehensive income is disclosed in Note 12.

Consolidated Balance sheet at 31 December 2014

	Note	2014	2013
Assets		€	€
Non-current assets
Property, plant and equipment	14		43.450.000
Investments in associates	16	1.574.826	4.427.154
Available for sale financial assets	17	5.940	7.310
		1.580.766	47.884.464
Current Assets Inventories
Trade and other receivables	21	8.269.556	9.316.150
Tax receivable	22	1.517.335	3.039.634
Cash and cash equivalents	23	187.303	51.258
			29.276
		9.974.194	12.436.318
Assets held for sale	20	38.936.089
Total assets		50.491.049	60.320.782
Equity and liabilities Capital and reserves
Share capital	24	36.775.403
Share premium	24	1.311.963	36.775.403 1.311.963
Other reserves	25	5.613.476	8.437.548
Accumulated losses		(37.168.513)	(25.955.116)
		6.532.329	20.569.798
Non-current liabilities
Borrowings	26		26.303.944
Deferred tax liabilities	27		4.434.468
			30.738.412
Current liabilities
Trade and other payables Current tax liabilities	28	778.878	3.439.717
Borrowings	26	510.828	5.755 5.567.100
		1.289.706	9.012.572
Liabilities for assets held for sale	20	42.669.014
Total liabilities		43.958.720	39.750.984
Total equity and liabilities		50.491.049	60.320.782

On 29 April 2015 the Board of Directors of Claridge Public Limited authorised these consolidated financial statements for issue.

Platon E. Lanitis, Chairman

Statement of comprehensive income for the year ended 31 December 2014

	Note	2014 €	2013 €
Continued operations Other income Other losses and expenses	5 6	559.562 (4.187.328)	1.354.243 (4.469.873)
Loss before tax Tax		(3.627.766)	(3.115.630)
Loss for the year from continued operations		(3.627.766)	(3.115.630)
Discontinued operations Loss for the year from discontinued operations	12	(7.813.305)	(5.827.864)
Net loss for the year		(11.441.071)	(8.943.494)
Loss per share attributable to company's shareholders (cent per share) - discontinued operations	8	(7, 22)	(5, 39)
Loss per share attributable to company's shareholders (cent per share) - continued operations	8	(3, 35)	(2,88)
Other comprehensive income/(loss) - discontinued operations Items that will not be reclassified to profit or loss Deferred tax adjustment on revaluation of land and buildings (discontinued operations) Loss on revaluation (discontinued operations)	24 24	(11.579) (2.271.887)	(18.667) (1.649.445)
Items that may be subsequently reclassified to profit or loss		(2.283.466)	(1.668.112)
Available-for-sale financial assets-fair value (loss)/gain	13	(1.370)	1.166
Other total comprehensive loss for the year after tax		(2.284.836)	(1.666.946)
Total loss for the year		(13.725.907)	(10.610.440)
Total loss per share attributable to company's shareholders (cent per share)
Basic	8	(12, 69)	(9, 81)

Items in the statement above are disclosed net of tax. The income tax relating to each component of other comprehensive income is disclosed in Note 7.

Balance sheet at 31 December 2014

	Note	2014	2013
Assets		€	€
Non-current assets
Property, plant and equipment	16
Investments in subsidiaries	11		43.450.000
Investments in associates	17	1.000 1.574.826	1.000
Available for sale financial assets	13	5.940	4.427.154
Non-current receivables	15		7.310 7.626.499
		1.581.766	55.511.963
Current assets
Inventories	18		234.964
Current portion of non-current receivables	15	8.086.719	1.024.955
Trade and other receivables	14	1.107.241	2.382.539
Tax receivable			51.258
Cash and cash equivalents	19		27.168
		9.193.960	3.720.884
Assets held for sale	12	38.936.086
Total assets		49.711.812	59.232.847
Equity and Liabilities
Capital and reserves
Share capital	23	36.775.403	36.775.403
Share premium	23	1.311.963	1.311.963
Other reserves	24	6.013.658	8.298.488
Accumulated losses		(37.058.216)	(25.617.145)
		7.042.808	20.768.709
Non-current liabilities
Borrowings	20		26.303.944
Deferred tax liabilities	21		4.434.468
			30.738.412
Current liabilities
Trade and other payables	22		2.535.803
Current tax liabilities
Borrowings	20		5.755 5.184.168
Liabilities for assets held for sale			7.725.726
	12	42.669.004
Total liabilities		42.669.004	38.464.138
Total equity and liabilities		49.711.812	59.232.847

On 29 April 2015 the Board of Directors of Claridge Public Limited authorised these financial statements for issue.

Platon E. Lanitis, Chairman

Costas Charitou, Director