The Corporate Services Group Limited Results
The Corporate Services Group Limited Results
The Corporate Services Group Limited ("CSG") today announces its financial statements for the year ended 31 December 2009.
The financial statements presented in this announcement have been prepared in accordance with UK Generally Accepted Accounting Practice. These financial statements relate to CSG only and are not, and should not be read as being, representative of the financial statements of CSG's parent, Impellam Group plc ("Impellam") for the period ending 31 December 2009, the preliminary results for which were released on 22 February 2010.
About The Corporate Services Group Limited
CSG is a subsidiary of Impellam, a human capital resource solutions group whose shares are admitted to trading on the AIM market of the London Stock Exchange plc. Impellam was formed in May 2008 when Carlisle Group Limited ("Carlisle") merged with The Corporate Services Group plc ("CSG plc"). Upon completion of the merger CSG plc became a subsidiary of Impellam and subsequently re-registered as a private company
The Corporate Services Group Limited
Profit and Loss Account for the Year Ended 31 December 2009
Note
2009
000
2008
000
Turnover
-
-
Administrative expenses
including exceptional items of 4,462,000 (2008: 1,764,000)
(7,937)
9,941
Operating (loss)/profit:
Excluding exceptional items
(3,475)
11,705
Exceptional costs
3
(4,462)
(1,764)
Operating (loss)/profit
2
(7,937)
9,941
Interest receivable
5
1,839
3,270
Interest payable and similar charges
6
(2,717)
(2,523)
(Loss)/profit on ordinary activities before taxation
(8,815)
10,688
Tax on (loss)/profit on ordinary activities
7
(706)
2,718
(Loss)/profit for the financial year
16
(9,521)
13,406
Turnover and operating (loss)/profit derive wholly from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
There is no difference between the results reported above and their historical cost equivalents.
The Corporate Services Group Limited
Balance Sheet at 31 December 2009
2009
2008
Note
000
000
000
000
Fixed assets
Investments
8
73,834
73,834
Current assets
Debtors
9
64,210
53,638
Cash at bank and in hand
128
4,198
64,338
57,836
Creditors: Amounts falling due within one year
10
(55,777)
(38,722)
Net current assets
8,561
19,114
Total assets less current liabilities
82,395
92,948
Creditors: Amounts falling due after more than one year
11
(18,823)
(19,855)
Net assets
63,572
73,093
Capital and reserves
Called up share capital
15
10,772
10,772
Share premium reserve
16
-
280,816
Other reserves
16
46,613
46,613
Profit and loss reserve
16
6,187
(265,108)
Shareholders' funds
17
63,572
73,093
The financial statements were approved by the Board of Directors on 20 April 2010 and were signed on its behalf by:
A Burchall
Director
