Exhibit 99.3
McGurk Studios Limited
Unaudited Profit and Loss Account
for the quarter ended 31st March 2007
£ | ||
TURNOVER | 1,366,182 | |
Cost of sales | 949,980 | |
GROSS PROFIT | 416,202 | |
Administrative expenses | 384,654 | |
OPERATING PROFIT | 31,548 | |
Interest receivable and similar income | — | |
31,548 | ||
Interest payable and similar charges | 25,839 | |
PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION | 5,709 | |
Tax on profit on ordinary activities | 1,827 | |
PROFIT FOR THE FINANCIAL YEAR AFTER TAXATION | 3,882 | |
McGurk Studios Limited
Unaudited Condensed Balance Sheet
31st March 2007
£ | £ | |||
FIXED ASSETS | ||||
Tangible assets | 1,281,531 | |||
CURRENT ASSETS | ||||
Stocks | 233,410 | |||
Debtors | 1,747,502 | |||
Cash and cash equivalents | 150,415 | |||
2,131,327 | ||||
CREDITORS | ||||
Amounts falling due within one year | 1,925,216 | |||
NET CURRENT ASSETS | 206,111 | |||
TOTAL ASSETS LESS CURRENT LIABILITIES | 1,487,642 | |||
CREDITORS | ||||
Amounts falling due after more than one year | 10,424 | |||
PROVISIONS FOR LIABILITIES | 227,941 | |||
NET ASSETS | 1,249,277 | |||
CAPITAL AND RESERVES | ||||
Called up share capital | 100,000 | |||
Profit and loss account | 1,149,277 | |||
SHAREHOLDERS’ FUNDS | 1,249,277 | |||