Annual Report and Accounts 2006 - Optos

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Consolidated Statement of Changes in Equity For the year ended 30 September 2006 Share Share Equity Retained Capital Premium Reserve Earnings Other Total $’000 $’000 $’000 $’000 $’000 $’000 At 1 October 2004 1,663 52,417 – (74,510) 686 (19,744) Exchange differences on foreign operations – – – – (29) (29) Loss for the year – – – (2,197) – (2,197) Total income and expenses for year – – – (2,197) (29) (2,226) 1,663 52,417 – (76,707) 657 (21,970) Reserve transfer – – – 686 (686) – Issue of ordinary share capital 2 55 – – – 57 Share-based payments – – – 885 – 885 At 30 September 2005 1,665 52,472 – (75,136) (29) (21,028) Implementation of IAS32/39 – – 2,744 (1,305) – 1,439 At 1 October 2005 1,665 52,472 2,744 (76,441) (29) (19,589) Exchange differences on foreign operations – – – – (100) (100) Profit for the year – – – 10,807 – 10,807 Total income and expenses for year – – – 10,807 (100) 10,707 1,665 52,472 2,744 (65,634) (129) (8,882) Conversion of loan 217 10,213 (2,744) 1,543 – 9,229 Issue of ordinary share capital 479 54,295 – – – 54,774 Cost of issue of ordinary share capital – (5,605) – – – (5,605) Share-based payments – – – 1,820 – 1,820 At 30 September 2006 2,361 111,375 – (62,271) (129) 51,336 Share Premium Share premium comprises the difference between the net proceeds and nominal value on issue of the Company’s equity share capital. Other Reserves Other reserves comprise: Special Reserve This reserve was used to record a reduction in capital during the year ended 30 September 1997. The special reserve was created following the cancellation of the share premium account as at 30 September 1997 of £1,112,000, against which was applied the debit balance on the profit and loss account at that time of £733,000. As no debts or claims against Optos at 30 September 1997 remain, the balance on special reserves of $686,000 has been reclassified to the profit and loss account. Foreign Exchange Reserve This reserve includes all cumulative differences on the translation of the Group’s net investment in foreign operations. Optos has elected to deem the cumulative differences on the retranslation into sterling of the Group’s net investment in foreign operations to be $nil as at 1 October 2004. As a result, in the event of the subsequent disposal of a foreign operation, any gain or loss on disposal will include cumulative translation differences arising only on or after 1 October 2004. 38 Optos plc Annual Report & Accounts 2006
Consolidated Cash Flow Statement For the year ended 30 September 2006 2006 2005 Notes $’000 $’000 Cash flows from operating activities Operating profit after share-based payments 4,323 3,283 Adjustments for: Depreciation and amortisation 21,273 14,689 Loss on disposal 756 – Share-based payments 1,820 1,170 Increase in trade and other receivables (2,475) (1,063) Increase in inventories (985) (447) Increase/(decrease) in trade payables 1,651 (1,837) Government grant receipt – 316 Increase in provisions 296 285 Research and development tax credit – 396 Net cash inflows from operating activities 26,659 16,792 Cash flows used in investing activities Interest received 1,118 78 Purchases of property, plant and equipment (PPE) (32,015) (34,448) Expenditure on intangible assets (2,463) (2,777) Net cash flows used in investing activities (33,360) (37,147) Cash flows from financing activities Proceeds from finance leases 45,240 40,771 Payment of finance leases (40,163) (25,385) Proceeds from share issues 49,169 57 Interest paid (6,287) (5,390) Net cash flows from financing activities 47,959 10,053 Net increase/(decrease) in cash and cash equivalents 41,258 (10,302) Effect of exchange on cash & cash equivalents (416) (497) Cash and cash equivalents at beginning of period (4,690) 6,109 Cash and cash equivalents at end of period 13 36,152 (4,690) Optos plc Annual Report & Accounts 2006 39
Page 1 and 2: Revolutionising eye care helping sa
Page 3 and 4: Highlights Year ended Year ended
Page 5 and 6: 2004 > Germany - commercial launch
Page 7 and 8: 3.4m optomap® Retinal Exams in 200
Page 9 and 10: Image of a healthy eye taken by the
Page 11 and 12: $3.3 million to $4.3 million. Losse
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Page 15 and 16: Operational and Financial Review co
Page 17 and 18: “He is very lucky - if the melano
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Page 21 and 22: Patrick Robin David Paul (60) Non-E
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Page 27 and 28: Directors’ Remuneration Report IN
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Page 39: Consolidated Balance Sheet As at 30
Page 43 and 44: Notes to the Consolidated Financial
Page 67 and 68: Company Balance Sheet At 30 Septemb
Page 69 and 70: Notes to the Company Financial Stat
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