Vintage Coffee and Beverages (538920) Q4 11/12 earnings summary

Executive summary

• No commercial activity or income in FY2011/12; net loss narrowed to Rs. 12,649 from Rs. 35,348 in FY2010/11.

• Auditors could not conclude that the financial statements gave a true and fair view, citing going-concern basis, unconfirmed creditors and unprovided loan interest.

Financial highlights

• Total income was nil in FY2011/12, versus Rs. 12,649 in FY2010/11; total expenses fell to Rs. 12,649 from Rs. 35,348.

• Loss before tax and net loss were both Rs. 12,649, compared with Rs. 35,348 in FY2010/11.

• Paid-up share capital remained Rs. 1,247,000; reserves and surplus were negative Rs. 1,791,999 at March 31, 2012.

Key financial ratios and metrics

• Basic and diluted EPS were reported as negative Rs. 0.06 for FY2011/12, versus negative Rs. 0.18 in FY2010/11.

• Accumulated losses exceeded net worth; cash losses were incurred in FY2011/12 and the preceding financial year.