Chairman's Statement
Six Months Ended 30 June 2008
The six months ended 30 June 2008 proved, once again, to be a frustrating period for the Company. Given the lack of income from South Africa it has become increasingly important to identify a suitable project for acquisition. Nevertheless, the Directors remain confident that they will be able to acquire a suitable business in due course.
The loss for the period of £24,929 (2007 - £21,568) represents the minimum costs of maintaining the Company's admission to AIM. Once again, no cash was remitted from South Africa, as quarrying operations during the period failed to generate income in excess of costs and existing creditors.
Since the end of June discussions have been taking place which are intended to provide cash to assist the Company in evaluating new projects, as well as providing general working capital. I expect that we will have concluded these discussions during the month of October.
I look forward to updating shareholders on progress.
Brian Moritz
(Chairman)
29 September 2008
DIMENSION RESOURCES LIMITED |
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6 Months ended 30 June
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6 Months ended 30 June
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2008
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2007
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Note
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GBP
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GBP
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Turnover
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-
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-
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Cost of sales
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-
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-
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Gross profit
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-
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-
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Administrative expenses
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(24,984)
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(21,575)
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Operating loss
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(24,984)
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(21,575)
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Interest receivable and similar income
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55
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7
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Interest payable and similar charges
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-
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-
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Net loss before taxation
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(24,929)
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(21568)
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Taxation
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-
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-
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-
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Net loss for the period
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2
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(24,929)
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(21,568)
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Loss per share
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3
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(0.009p)
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(0.011p)
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DIMENSION RESOURCES LIMITED |
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Balance sheet at 30 June 2008
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30 June
2008
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30 June
2007
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GBP
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GBP
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ASSETS
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Non-current assets
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91,986
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91,986
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Investments
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91,986
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91,986
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Current assets
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67,144
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6,541
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Trade and other receivables
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6,892
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3,825
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Cash at bank and in hand
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60,252
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2,716
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Total assets
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159,130
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98,527
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EQUITY AND LIABILITIES
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Shareholders' funds
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23,613
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(33,605)
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Called up share capital
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6,868,144
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6,803,644
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Share premium account
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12,023,313
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11,942,813
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Revaluation of investment reserve
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(300,000)
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(300,000)
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Profit and loss account
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(18,567,844)
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(18,480,062)
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Current liabilities
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135,517
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132,132
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Trade and other payables
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135,517
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132,132
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Total equity and liabilities
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159,130
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98,527
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DIMENSION RESOURCES LIMITED
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Cash flow statement for the six months ended 30 June 2008
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Six months ended 30 June
2008
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Six months ended 30 June
2007
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GBP
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GBP
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CASH FLOWS FROM OPERATING ACTIVITIES
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(15,336)
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7
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Cash absorbed by operations
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(15,391)
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-
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Interest received
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55
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7
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CASH FLOWS FROM INVESTING ACTIVITIES
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Loans repaid by subsidiary companies
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-
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-
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NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
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(15,336)
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7
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Cash and cash equivalents at the beginning of the period
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75,588
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2,709
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Cash and cash equivalents at the end of period
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60,252
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2,716
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Notes
1. The financial statements, which are unaudited, have been drawn up using accounting policies
applicable to the year ended 31 December 2007. They do not constitute statutory accounts.
2. No dividend is payable for the period.
3. The loss per share is based on losses of £24,929, (2007 - £21,568), and on a weighted average
of 266,186,458 (2006: 197,450,758) ordinary shares in issue.
4. The Company's web site address is www.dimensionresources.biz
