29/06/2012
GB00B3DBY868/GBP/PLUS-exn
Storyboard Assets Plc
("Storyboard" or the "Company")
Audited Financial Results for the year ended 31st January 2012
Chairman's Statement
Storyboard today announces a loss of GBP33,455. The year was most notably marked by the decision to
liquidate the Company's assets via auction. This decision was reached with shareholder approval after
determining that the interests of shareholders would be best served by a managed liquidation of the
remaining artwork, followed by a change of strategic direction for the Company.
It is Storyboard's intention that the Company should remain on the PLUS-quoted Market as an "Investment
Vehicle" following the disposal. The sale of the Company's portfolio is being conducted via auction at
Sotheby's in London on Tuesday 10th July 2012. There can be no guarantee that any or all of the Company's
works will attract a buyer at the sale, although there is known to be tangible interest in a number of the
Company's pieces.
Storyboard will report back to the market immediately following the sale.
Marcus Yeoman
Chairman
Dividends
No dividends will be distributed for the year ended 31st January 2012.
Storyboard Assets Plc (Registered number: 06436259)
Profit and Loss Account
For the year ended 31st January 2012
Year Ended Period Ended
31.01.12 31.01.11
GBP GBP
TURNOVER - 14,000
Administrative expenses 50,973 68,870
________ ________
OPERATING LOSS (50,973) (54,870)
Profit on sale of Investments 17,518 750
________ ________
LOSS ON ORDINARY ACTIVITIES
BEFORE TAXATION (33,455) (54,120)
Tax on loss on ordinary activities - -
_________ ________
LOSS FOR THE FINANCIAL YEAR
AFTER TAXATION (33,455) (54,120)
________ ________
Earnings per share expressed
In pence per share
Basic -2.71 -5.31
Diluted -2.71 -5.31
________ ________
CONTINUING OPERATIONS
None of the Company's activities were acquired or discontinued during the current year or previous period.
TOTAL RECOGNISED GAINS AND LOSSES
The Company has no recognised gains or losses other than the losses for the current year or previous
period.
Storyboard Assets Plc (Registered number: 06436259)
Balance Sheet
31st January 2012
31.01.12 31.01.11
GBP GBP
FIXED ASSETS
Tangible assets 293 437
Investments 368,292 382,604
________ ________
368,584 383,041
________ ________
CURRENT ASSETS
Debtors 9,552 21,120
Cash at bank and in hand 10,194 11,595
________ ________
19,746 32,715
CREDITORS
Amounts falling due within one year (11,729) (5,700)
________ ________
NET CURRENT (LIABILITIES/ASSETS) 8,017 27,015
________ ________
TOTAL ASSETS LESS CURRENT LIABILITIES 376,601 410,056
________ ________
CAPITAL AND RESERVES
Called up share capital 247,230 247,230
Share premium 404,014 404,014
Profit and Loss account (274,643) (241,188)
________ ________
SHAREHOLDERS FUNDS 376,601 410,056
________ ________
The above are an extract from the full financial statements. A full version of the Report and Accounts will
be available on the PLUS website in due course.
The Directors of Storyboard are responsible for the contents of this announcement.
Contact Information:
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