EX-99.2 4 image103711_ex99-2.htm UNAUDITED CONSOLIDATED BALANCE SHEET AND PROFIT AND LOSS ACCOUNT OF CITYSYNC EXHIBIT 99.2 TO IMAGE SENSING SYSTEMS, INC. FORM 8-K/A DATED JUNE 21, 2010

Exhibit 99.2

CITYSYNC LIMITED

CONSOLIDATED BALANCE SHEET (unaudited)
30 April 2010

(£ in 000s)

 

 

 

 

 

 

 

 

£

 

£

 

FIXED ASSETS

 

 

 

 

 

Intangible assets

 

 

 

176

 

Tangible assets

 

 

 

173

 

 

 

 

 

 

 

 

 

 

 

349

 

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

Stocks

 

495

 

 

 

Debtors

 

1,315

 

 

 

Cash at bank and in hand

 

79

 

 

 

 

 

 

 

 

 

 

 

1,889

 

 

 

CREDITORS

 

 

 

 

 

Amounts falling due within one year

 

1,980

 

 

 

 

 

 

 

 

 

NET CURRENT LIABILITIES

 

 

 

91

 

 

 

 

 

 

 

NET ASSETS

 

 

 

258

 

 

 

 

 

 

 

CAPITAL AND RESERVES

 

 

 

 

 

Called up share capital

 

 

 

15

 

Profit and loss account

 

 

 

243

 

 

 

 

 

 

 

SHAREHOLDERS’ FUNDS

 

 

 

258

 



The notes form part of these financial statements.

1


CITYSYNC LIMITED

CONSOLIDATED PROFIT AND LOSS ACCOUNT (unaudited)
for the three months ended 30 April 2010 and 2009

(£ in 000s)

 

 

 

 

 

 

 

 

 

2010

 

 

2009

 

 

 

£  

 

 

£   

 

 

 

 

 

 

 

 

TURNOVER

 

946

 

 

615

 

 

 

 

 

 

 

 

Cost of sales

 

342

 

 

327

 

 

 

 

 

 

 

 

GROSS PROFIT

 

604

 

 

288

 

 

 

 

 

 

 

 

Administrative expenses

 

603

 

 

577

 

 

 

 

 

 

 

 

OPERATING PROFIT (LOSS)

 

1

 

 

(289

)

 

 

 

 

 

 

 

Interest payable and similar charges

 

25

 

 

17

 

 

 

 

 

 

 

 

LOSS ON ORDINARY ACTIVITIES
BEFORE TAXATION

 

(24

)

 

(306

)

 

 

 

 

 

 

 

Taxes

 

(58

)

 

 

 

 

 

 

 

 

 

 

INCOME (LOSS) FOR THE PERIOD
AFTER TAXATION

 

34

 

 

(306

)



The notes form part of these financial statements.

2


CITYSYNC LIMITED

 

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(Interim, unaudited)

 

 

This interim consolidated financial information the three months ended 30 April 2010 was approved by the Directors on 8 June 2010.

 

 

1.

BASIS OF PREPARATION

 

 

 

The accounting policies applied are consistent with those described in the Report of the Directors and Consolidated Financial Statements for the year ended 31 January 2010 and this interim consolidated information should be read in conjunction with that report.

 

 

 

This interim consolidated financial information is not audited and does not comprise statutory financial statements.  The Report of the Directors and Consolidated Financial Statements for the year ended 31 January 2010 were approved by the Directors on 26 May 2010.  The report of the auditors on those financial statements was unqualified, did not contain an emphasis of matter paragraph and did not contain any statement under section 498 of the Companies Act 2006.

 

 

2.

TAXATION

 

 

 

A benefit has been realized for a revised estimate under the U.K Research and Development (R&D) tax credit regime.  The benefit relates to activity in the year ended 31 January 2010.

 

 

3.

TANGIBLE FIXED ASSETS

 

 

Totals
£ (000)

 

COST

 

 

 

At 1 February 2010

 

354

 

Additions

 

61

 

 

 

 

 

At 30 April 2010

 

415

 

 

 

 

 

DEPRECIATION

 

 

 

At 1 February 2010

 

232

 

Charge for period

 

10

 

 

 

 

 

At 30 April 2010

 

242

 

 

 

 

 

NET BOOK VALUE

 

 

 

At 30 April 2010

 

173

 

 

 

 

 

At 31 January 2010

 

122

 

 

 

 

3