Professional Documents
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ACN120394194
ASXAppendix4E
RESULTSFORANNOUNCEMENTTOTHEMARKET
Currentreportingperiod:
Previouscorrespondingperiod:
Yearended30June2008
Periodended30June2007
EARNINGS
Percentagechange
UP(+)/DOWN()
Revenuefromordinaryactivities
Profitfromordinaryactivitiesbeforetax
Profitfromordinaryactivitiesaftertax
attributabletomembers
Netprofitfortheperiodattributabletomembers
significantincrease
10,688,441
significantincrease
significantincrease
2,486,994
1,544,303
significantincrease
1,544,303
DIVIDENDS
Amount
pershare
Finaldividend(fullyentitledshares)
2.2cents
Previouscorrespondingperiod
Recorddatefordeterminingentitlementstothe2008finaldividend
Paymentdatefor2008finaldividend
NETTANGIBLEASSETBACKING
30Jun2008
Amount
$A
Franked
amountper
shareat30%
Australian
taxrate
2.2cents
17October2008
7November2008
30Jun2007
Nettangibleassetbackingpersecurity
11.71
0.00
Basicprofit/(loss)pershare
2.66
(65.50)
Dilutedprofit/(loss)pershare
2.66
(65.50)
Fortheyearended30June2008,theconsolidatedentitygeneratedanetprofitaftertaxof
$1,544,303(2007:$17,368,147loss).
Againstthesameperiodlastyear,earningsbeforeinterest,tax,impairment,depreciation
andamortisationfromcontinuingoperationsincreasedfromalossof$5,164,255toaprofit
of$2,421,039.
TheturnaroundinprofitabilityoftheGrouparisesduetothelistingofthecompanyonthe
ASXon17August2007,theacquisitionofsubsidiariesandcontinuedgrowth.
Asat30June2008,theconsolidatedcashholdingsstoodat$5,626,766.
AUDITREPORT
Thepreliminaryfinalreportisbasedonaccountswhichareintheprocessofbeingaudited.
INTEGRATEDLEGALHOLDINGSLIMITED
APPENDIX4EPRELIMINARYFINALREPORT
FORTHEYEARENDED30JUNE2008
ACN120394194
BalanceSheet
Note
ASSETS
CurrentAssets
Cashandcashequivalents
Tradeandotherreceivables
Workinprogress
Capitalisedexpenditure
TotalCurrentAssets
NonCurrentAssets
Plantandequipment
Goodwill
Intangibleassets
Deferredtaxassets
Otherassets
TotalNonCurrentAssets
TOTALASSETS
LIABILITIES
CurrentLiabilities
Tradeandotherpayables
Interestbearingloansandborrowings
Incometaxpayable
Provisions
TotalCurrentLiabilities
NonCurrentLiabilities
Interestbearingloansandborrowings
Provisions
TotalNonCurrentLiabilities
TOTALLIABILITIES
NETASSETS
EQUITY
IssuedCapital
AccumulatedLosses
Reserves
TOTALEQUITY
CONSOLIDATED
30June
30June
2008
2007
$
$
5,626,766
8,788,735
2,651,518
1,084,352
506,872
9,362,636
9,295,607
192,836
6,330,233
136,620
410,647
2,524
7,072,860
16,435,496
9,295,607
1,081,009
9,295,402
169,764
968,272
173,111
2,392,156
9,295,402
18,708
119,986
138,694
2,530,850
9,295,402
13,904,646
205
29,729,975
17,368,352
(15,823,844)
(17,368,147)
(1,485)
13,904,646
205
TheaboveBalanceSheetshouldbereadinconjunctionwiththeaccompanyingnotes
2
INTEGRATEDLEGALHOLDINGSLIMITED
APPENDIX4EPRELIMINARYFINALREPORT
FORTHEYEARENDED30JUNE2008
ACN120394194
IncomeStatement
Professionalfees
Interestrevenue
Otherrevenue
Totalrevenue
Occupancyexpenses
Salariesandemployeebenefitsexpenses
Depreciationandamortisationexpenses
Advertisingandmarketingexpenses
Administrativeexpenses
Otherexpenses
Financecosts
Impairmentloss
Sharebasedpaymentsexpense
Totalexpenses
Profit/(loss)beforeincometax
Incometaxexpense
Profit/(loss)afterincometax
Netprofit/(loss)fortheyear
Basicprofit/(loss)pershare(cents)
Dilutedprofit/(loss)pershare(cents)
Note
2(a)
2(b)
2(c)
CONSOLIDATED
2008
2007
$
$
10,175,930
429,609
205
82,902
10,688,441
205
(622,545)
(5,031,511)
(122,799)
(122,592)
(1,495,523)
(108,948)
(75,173)
(215,826)
(12,204,097)
(406,530)
(5,164,255)
(8,201,447)
(17,368,352)
2,486,994
(17,368,147)
(942,691)
1,544,303
(17,368,147)
1,544,303
(17,368,147)
2.66
(65.50)
2.66
(65.50)
TheaboveIncomeStatementshouldbereadinconjunctionwiththeaccompanyingnotes
3
INTEGRATEDLEGALHOLDINGSLIMITED
APPENDIX4EPRELIMINARYFINALREPORT
FORTHEYEARENDED30JUNE2008
ACN120394194
CashFlowStatement
Cashflowsfromoperatingactivities
Receiptsfromcustomers
Interestreceived
Otherrevenue
Paymentstosuppliersandemployees
Interestandothercostsoffinancepaid
Incometaxpaid
Netcashinflowsfromoperatingactivities
Cashflowsfrominvestingactivities
Purchaseofplantandequipment
Proceedsfromthedisposalofplantandequipment
Paymentforavailableforsaleinvestments
Paymentfortheacquisitionofbusinessesnetof
cashacquired
Netcashoutflowsfrominvestingactivities
Cashflowsfromfinancingactivities
Proceedsfromloansreceived
Repaymentofborrowings
Paymentforsettlementofliabilityassumedon
acquisitionofLawCentralCoPtyLtd
Proceedsfromissueofshares
Paymentsforshareissueexpenses
Netcashinflowsfromfinancingactivities
Netincrease/(decrease)incashheld
Cashandcashequivalentsatthebeginningofthe
financialyear
Cashandcashequivalentsattheendofthefinancial
year
Note
CONSOLIDATED
2008
2007
$
$
8,002,981
428,661
205
82,902
(7,215,794)
(14,937)
(76,371)
1,207,442
205
(80,826)
1,000
(4,009)
(6,782,695)
(6,866,530)
211,106
506,872
(182,689)
(214,665)
3,628,130
8,788,530
(944,763)
(506,872)
2,497,119
8,788,530
(3,161,969)
8,788,735
8,788,735
5,626,766
8,788,735
TheaboveCashFlowStatementshouldbereadinconjunctionwiththeaccompanyingnotes
4
INTEGRATEDLEGALHOLDINGSLIMITED
APPENDIX4EPRELIMINARYFINALREPORT
FORTHEYEARENDED30JUNE2008
ACN120394194
StatementofChangesinEquity
CONSOLIDATED
Balanceasat26June2006
(1)
Lossfortheperiod
(2)
Issueofshares
Issued
Capital
Accumulated
Losses
Net
Unrealised
Gains
Reserve
Balanceasat30June2007
CONSOLIDATED
Balanceasat1July2007
Netfairvaluelossesonavailableforsale
investments
(17,368,147)
(17,368,147)
17,368,352
17,368,352
(17,368,147)
205
17,368,352
(1)&(2)
Issued
Capital
Total
Equity
Accumulated
Losses
17,368,352
(17,368,147)
Total
Equity
205
(1,485)
(1,485)
1,544,303
1,544,303
13,045,708
13,045,708
406,530
406,530
Transactioncostsonshareissues
Incometaxonitemstakendirectlytoor
transferredfromequity
(1,514,575)
(1,514,575)
423,960
423,960
Balanceasat30June2008
(1) Effectsofcorrectionoferrorinprevious
year
(Accumulatedlosses)asreportedinthe
2007financialreport
Correctionoferror(refernote5)
Restated(accumulatedlosses)
29,729,975
(1,485)
13,904,646
Profitfortheperiod
Issueofshares
Sharebasedpayment
(2) Effectsofcorrectionoferrorinprevious
year
Issuedcapitalasreportedinthe2007
financialreport
Correctionoferror(refernote5)
Restatedissuedcapital
Net
Unrealised
Gains
Reserve
(15,823,844)
(18,723,247)
1,355,100
(17,368,147)
(18,723,452)
1,355,100
(17,368,352)
TheaboveStatementofChangesinEquityshouldbereadinconjunctionwiththeaccompanyingnotes
5
INTEGRATEDLEGALHOLDINGSLIMITED
APPENDIX4EPRELIMINARYFINALREPORT
FORTHEYEARENDED30JUNE2008
ACN120394194
NotestotheFinancialStatements
1) SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES
ThesepreliminaryconsolidatedfinancialstatementsrelatetoIntegratedLegalHoldingsLimitedand
theentitiesitcontrolledduringtheyearended30June2008.Theaccountingpoliciesadoptedare
consistentwiththosedisclosedinitsmostcurrentfinancialstatements.
2) REVENUEANDEXPENSES
Consolidated
2008
2007
$
$
Revenueandexpensesfromcontinuingoperations
a) Otherrevenue
Rentreceived
81,157
Sundryincome
1,745
82,902
b) Depreciationandamortisationexpenses
Depreciationofplantandequipment
92,951
Amortisationof:
Equipmentunderfinancelease
3,214
Identifiedintangibles
26,634
122,799
c) Financecosts
Interestotherentities
25,029
Badanddoubtfuldebts
16,111
Bankfees
34,033
75,173
3) DIVIDENDSDECLARED
2008
2007
Cents
Total
Cents
Total
pershare
$
pershare
$
a) Dividends declared and not recognised
asaliability
Finaldividend(fullyfranked)
2.2
1,397,843
INTEGRATEDLEGALHOLDINGSLIMITED
APPENDIX4EPRELIMINARYFINALREPORT
FORTHEYEARENDED30JUNE2008
ACN120394194
NotestotheFinancialStatements
b) Frankingcreditbalance
Frankingcreditsavailableforthesubsequentfinancialyear:
Frankingaccountbalanceasattheendofthepreviousfinancialyearat
30%(2007:30%)
Frankingcreditsthatarosefromthepaymentofincometaxpayable
duringthefinancialyear
Frankingcreditsthatwillarisefromthepaymentofincometaxpayable
forthefinancialyear
Frankingdebitsthatwillarisefromthepaymentofrecommendedfinal
dividendfortheendofthefinancialyear
4) ISSUEDCAPITAL
a) Ordinaryshares
63,538,320(2007:34,736,704)ordinaryfullypaidshares
Openingbalanceat1July2007
Issueofsharestosubscribersofinitialpublicofferingon17August
2007at50centspershare
Issueofsharesatadeemedvalueof15centspersharetoGFowler
on21April2008onhisappointment asManaging Director/CEOof
theCompanysharebasedpayments
Costsassociatedwiththecapitalraising
Incometaxoncapitalraisingcoststakendirectlytoequity
2008
$
2007
$
76,370
968,272
(419,353)
625,289
Consolidated
2008
2007
$
$
29,729,975
17,368,352
Shares
34,736,704
$
17,368,352
24,833,320
12,416,660
1,258,096
629,048
2,710,200
63,538,320
406,530
(1,514,575)
423,960
29,729,975
INTEGRATEDLEGALHOLDINGSLIMITED
APPENDIX4EPRELIMINARYFINALREPORT
FORTHEYEARENDED30JUNE2008
ACN120394194
NotestotheFinancialStatements
5) ACCUMULATEDLOSSES
Consolidated
2008
2007
$
$
15,701,885) (17,368,147)
Accumulatedlosses
Restatedbalanceatbeginningofyear
(17,368,147)
Netprofit/(loss)fortheyear
1,544,303 (17,368,147)
Balanceatendoftheyear
(15,823,844) (17,368,147)
(1)
Errorrelatedtotherecognitionofsharebasedpaymentexpensesforsharesoriginallyissuedto
supportersbutsubsequentlyreturnedintoasharetrustcontrolledbytheGroup.Thisrepresentsa
reversal of share based payment expenses incorrectly recognised for shares issued but not
distributed,andareversalofthevalueofthesharesrecognised,consistentwiththerequirementsof
UIG112ConsolidationSpecialPurposeEntities.
6) ACQUIREDBUSINESSES
Duringtheyear,theGroup,throughitswhollyownedsubsidiaries,gainedcontrolofthefollowing
businesses:
EntityName
Datecontrol
gained
Contributionto
NetProfitafterTax
(fromthedateof
acquisition)
10/08/07
TalbotOlivier
$1,939,209
Incorporating:
19/09/07
PeterMarksSuccessionLawyers
28/09/07
ShayneLeslie
BrettDaviesLawyers
10/08/07
$89,968
LawCentralCoPtyLtd
10/08/07
$264,456
Thegroupdoesnothaveanyinterestsinassociatesoutsidethegroup,nordoesithaveanyinterest
injointventures.