1
TURNOVER
The group’s turnover and loss on ordinary activities before taxation were all derived from its principal activity. Sales were made in the following geographical markets:
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|
2001 £ |
2000 £ |
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|
United Kingdom |
1,399,136 |
611,305 |
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Other |
17,473 |
27,752 |
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|
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|
1,416,609 |
639,057 |
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Publishing |
1,065,663 |
629,942 |
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Events |
215,182 |
4,265 |
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Other |
135,764 |
4,850 |
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1,416,609 |
639,057 |
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Further segmental information has not been given since, in the opinion of the directors, this might be seriously prejudicial to the commercial interests of the group.
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2
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OPERATING EXPENSES (NET) |
2001 £ |
2000 £ |
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Other operating income |
(27,921) |
- |
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Administration expenses |
797,940 |
473,994 |
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|
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|
770,019 |
473,994 |
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3
|
INTEREST RECEIVABLE |
2001 £ |
2000 £ |
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Bank interest |
9,800 |
30,298 |
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4
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LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION |
2001 £ |
2000 £ |
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Loss on ordinary
activities before taxation is stated after charging: |
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|
|
|
Depreciation and amounts written off tangible
fixed assets |
14,041 |
10,756 |
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Amortisation of intangible fixed assets |
139,625 |
57,762 |
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Operating lease rentals: |
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|
Land and buildings |
25,083 |
- |
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|
Auditors’ remuneration : audit services |
17,000 |
19,000 |
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: non-audit services |
16,355 |
10,750 |
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5
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EMPLOYEES |
2001 No. |
2000 No. |
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The average monthly number of persons (including
directors) employed by the group during the year was: |
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Office
and management |
15 |
14 |
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|
2001 £ |
2000 £ |
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Staff costs for the above persons: |
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Wages
and salaries |
443,215 |
237,592 |
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Social
security costs |
41,454 |
24,880 |
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|||||||||||||
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|
484,669 |
262,472 |
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DIRECTORS’ REMUNERATION |
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In respect of the directors of Electric Word Plc |
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2001 |
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|
2000 |
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Salary £ |
Bonus £ |
Total £ |
Salary £ |
Bonus £ |
Total £ |
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|
JJC Turner |
|
63,333 |
5,850 |
69,183 |
40,462 |
- |
40,462 |
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|
SR Stein |
|
38,000 |
- |
38,000 |
35,273 |
- |
35,273 |
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|
E
Tranham |
|
38,000 |
10,000 |
48,000 |
17,481 |
8,667 |
26,148 |
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NW
Wray |
|
- |
- |
- |
- |
- |
- |
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|
A Ageh |
|
- |
- |
- |
- |
- |
- |
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|
P Rigby |
|
- |
- |
- |
- |
- |
- |
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|
139,333 |
15,850 |
155,183 |
93,216 |
8,667 |
101,883 |
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The comparative figures represent directors’ remuneration for the period from appointment and do not represent a full year’s charge.
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6
|
TAXATION |
2001 £ |
2000 £ |
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UK corporation tax |
|
|
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|
Prior year under provision |
251 |
- |
|
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|
There is no corporation tax charge for the current year due to the availability of accumulated losses. Accumulated losses for the group at 30 November 2001 were approximately £1,300,000 (2000: £600,000).
7 LOSS PER ORDINARY SHARE
The calculation of loss per ordinary share is based on the following losses and numbers of shares.
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|
Basic 2001 £ |
Basic 2000 £ |
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Loss for the financial year |
|
|
(892,612) |
(326,081) |
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2001 No. of shares |
2000 No. of shares |
|
|
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Weighted average number of shares |
|
|
72,150,180 |
52,575,538 |
|
|
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There is no
dilutive effect from the issue of share options, warrants or the future
redemption of convertible loan stock.
|
8
|
INTANGIBLE FIXED ASSETS |
Goodwill £ |
Magazines £ |
Total £ |
|
|
GROUP |
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|
|
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Cost |
|
|
|
|
|
1 December 2000 |
1,338,246 |
50,000 |
1,388,246 |
|
|
Additions |
8,000 |
- |
8,000 |
|
|
|
|
|
|
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|
30 November 2001 |
1,346,246 |
50,000 |
1,396,246 |
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Amortisation |
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|
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