097.ASX IAW Aug 12 2010 15.13 Preliminary Final Report

INTEGRATEDLEGALHOLDINGSLIMITED
ACN120394194
ASXAppendix4E
RESULTSFORANNOUNCEMENTTOTHEMARKET
Currentreportingperiod:
Previouscorrespondingperiod:
EARNINGS
Yearended30June2010
Yearended30June2009
Percentagechange
UP(+)/DOWN()
Amount
$A
Revenuefromordinaryactivities
41%
23,874,988
Profitfromordinaryactivitiesaftertaxattributableto
members
44%
853,494
44%
853,494
Netprofitfortheperiodattributabletomembers
NETTANGIBLEASSETBACKING
Nettangibleassetbackingpersecurity
EARNINGSPERSHARE
Basicearningspershare
Dilutedearningspershare
DIVIDENDS
Percentagechange
UP(+)/DOWN()
30Jun2010
30Jun2009
34%
6.54
4.89
Percentagechange
UP(+)/DOWN()
30Jun2010
30Jun2009
33%
33%
1.18
1.18
0.89
0.89
Amount
pershare
Franked
amountper
shareat30%
Australian
taxrate
Finaldividend(fullyentitledshares)
0.5cents
0.5cents
Previouscorrespondingperiod

Recorddatefordeterminingentitlementstothe2010finaldividend
15October2010
Paymentdatefor2010finaldividend
5November2010
Followingisabriefexplanationofdirectionalandpercentagechangestorevenueandprofit:
Consolidatedoperatingrevenuesof$23,874,988were41%higherthanthepreviousyearwhich
reported $16,946,221 operating revenues. Revenue from ordinary activities increased due to a
combinationoforganicgrowthandthefullyeareffectofnewmemberfirmacquisitions.
For the year ended 30 June 2010, the consolidated entity generated a net profit after tax of
$853,494comparedtotheyearended30June2009of$593,875,anincreaseof44%.
Earningspersharefortheyearwere1.18centspershare,comparedto0.89centspersharefor
theyearended30June2009,anincreaseof33%.
ACN120394194
ASXAppendix4E
The Directors advise that they are pleased with the full year results and with the continued
strategic and operational progress that has been made during the period towards developing a
robustbusinessmodelandinpositioningtheGroupforfuturegrowth.Further,theresultswere
an improved position on the year ended 30 June 2009, the Company having commenced its
recoveryfromtheeffectsoftheGlobalFinancialCrisis(GFC).
FullYearResultsSummary
FullYear
FullYear
%
2009/10
2008/09
Growth
$m
$m
OperatingRevenue
23.87
16.95
41%
NetProfitafterTax
0.85
0.59
44%
EarningsperShare
1.18cents
0.89cents
33%
Final0.50cents
Interim0.25cents
Nil
Large
DividendperShare
FullYear0.75
cents
OperatingCashInflows/(Outflows)
1.45
(1.65)
Large
NetTangibleAssetBackingper
6.54cents
4.89cents
34%
Share
Gearing(netbankdebt/equity)
6%
12%
50%
Significantstrategicandoperationalprogress
Theperiodwashighlightedbyoperationalconsolidationfollowingaperiodofverystrongorganic
andacquisitiongrowthexperiencedbytheCompany.TheCompanysacquisitionsin2009were
verylargerelativetotheexistingbusiness.TheDirectorscanadvisethattheseacquisitionsare
performingwell.
AccountingError31December2009HalfYearFinancialReport
Earlierthisweek,theBoardofIntegratedLegalHoldingswasadvisedbytheCompanysauditors
Ernst&Young,aspartoftheprocessofpreparingtheCompanysfullyearfinancialstatements,
thatanaccountingerrorhadbeenmadeinthepreparationoftheCompanysfinancialreportfor
thehalfyearended31December2009.Thehalfyearfinancialreportwasreviewedandsigned
offbyErnst&Youngon25February2010.
The accounting error involves the treatment of an Australian Taxation Office tax refund of
$325,306 received by the Company in December 2009, relating to the tax treatment of work in
progress.ThisitemwashighlightedintheASXAppendix4DlodgedbytheCompanyinFebruary
2010.
ACN120394194
ASXAppendix4E
At30June2010,Ernst&Youngareoftheviewthatinrelationtothetaxtreatmentofworkin
progress, this tax refund should be treated as an increase to deferred tax liability, and not
recognisedasacredittoincometaxexpense.
Theerrorrelatestothetreatmentofatransactionthatisoneoffinnatureanddoesnotaffect
theunderlyingoperationalperformanceoftheCompany.
TheeffectofthischangeistodecreasefirsthalfNetProfitafterTaxandEarningsperShareofthe
Companyasfollows.
NetProfitafterTax
EarningsperShare
PreviouslyReported
FirstHalf
2009/10
$m
0.71
1.03cents
Corrected
FirstHalf
2009/10
$m
0.39
0.56cents
HalfYearResultsAnalysis
TheCompanyachievedanetprofitaftertaxforthe2ndhalfof2010of$0.47m,comparedwitha
1sthalf2010profitof$0.38m(corrected),anincreaseof21%.
(Corrected)
2ndHalf
FullYear
FullYear
1stHalf
2009/10
2009/10
2008/09
2009/10
$m
$m
$m
$m
OperatingRevenue
12.28
11.59
23.87
16.95
Growth
6%
41%
NetProfitafterTax
0.47
0.38
0.85
0.59
Growth
21%
44%
EarningsperShare
0.62cents
0.56cents
1.18cents
0.89cents
Growth
11%
33%
DividendperShare
0.50cents
0.25cents
0.75cents
Nil
BalanceSheet
TheCompanyhasmaintainedastrongbalancesheetandiswellplacedtocontinueorganicand
acquisitiongrowth.Thefollowingpointsarehighlighted:
Cashposition(includingoverdrafts)at30June2010of$1.95m.
Bank loans of $0.95m at 30 June 2010 compared with $1.85m at 31 December 2009 (bank
debtgearinglevel6%).
TheCompanysexistingbankfacilityhasalimitofupto$3.25m(drawndownto$0.95mat30
June2010).
3
ACN120394194
ASXAppendix4E
TheCompanyachievedrobustoperatingcashinflowsfortheyearof$1.45m.
TheCompanyraised$1.67minadditionalcapitalinApril/May2010throughawellsupported
privateplacementandsharepurchaseplan.
DividendAnnouncement
TheDirectorshavedeclaredafullyfrankedfinaldividendof0.50cents.
The dividend will have a record date of 15 October 2010 and a payment date of 5 November
2010.Therewillnotbeadividendreinvestmentplanavailable.
Intotal,theCompanyhasdeclaredfullyfrankeddividendsof0.75centspershareforthe2009/10
financialyear,havingpaidaninterimdividendof0.25centsfullyfrankedinApril2010.
TheDirectorsconsiderthatthedividendannouncementsof2010haveestablishedapatternfor
dividendsfortheCompanygoingforward,subjecttothepreviouslystateddividendpolicyofthe
Companythatdividendswillbedeclaredafterconsiderationoftheperformanceofthecompany
andfutureinvestmentopportunities.
Outlook
Overall, the Directors remain confident in the outlook for the Company given the strength and
underlying quality of its member firms, the significant opportunity for organic growth and
improved performance in these firms, and the significant potential to grow by selective
acquisitionaspartofthestrategyofdevelopinganationalnetworkoflegalservicesbusinesses.
TheDirectorsareoftheviewthattheCompanyiswellplacedtocontinuegrowthbycapitalising
on the significant opportunity afforded by prevailing industry issues. Longterm competitive
advantage can be achieved by the Company in supporting member firms in developing scale to
underpinfuturegrowthandprofitability.
Consistentwiththisposition,theoutlookfortheGroupispositiveandtheDirectorsexpectthe
Company to achieve earnings per share growth for 2010/11, providing reasonable business
conditionscontinuefortheyear.
AfullercommentaryontheresultsforthereportingperiodiscontainedintheASXreleasedated
12August2010.
AUDITREPORT
Thepreliminaryfinalreportisbasedonaccountswhichareintheprocessofbeingaudited.
APPENDIX4EPRELIMINARYFINALREPORT
FORTHEYEARENDED30JUNE2010
ACN120394194
StatementofFinancialPosition
Note
ASSETS
CurrentAssets
Cashandcashequivalents
Tradeandotherreceivables
Workinprogress
TotalCurrentAssets
NonCurrentAssets
Plantandequipment
Goodwill
Intangibleassets
Deferredtaxassets
Prepayments
Otherassets
TotalNonCurrentAssets
TOTALASSETS
LIABILITIES
CurrentLiabilities
Tradeandotherpayables
Interestbearingloansandborrowings
Incometaxpayable
Provisions
Otherliabilities
TotalCurrentLiabilities
NonCurrentLiabilities
Tradeandotherpayables
Interestbearingloansandborrowings
Provisions
Otherliabilities
TotalNonCurrentLiabilities
TOTALLIABILITIES
NETASSETS
EQUITY
IssuedCapital
AccumulatedLosses
Reserves
TOTALEQUITY
5
6
7
CONSOLIDATED
30June
30June
2010
2009
$
$
2,151,449
600,694
7,538,870
5,616,233
1,353,354
1,370,212
11,043,673
7,587,139
1,181,314
691,360
10,470,600
10,372,263
65,340
100,980
101,089
464,147
29,230
63,016
2,642
2,677
11,850,215
11,694,443
22,893,888
19,281,582
3,317,157
1,738,222
1,573,325
1,244,330
177,524
157,011
687,057
459,466
279,933
200,000
6,034,996
3,799,029
75,107
260,913
197,350
127,608
660,978
6,695,974
16,197,914
32,160,426
(16,688,184)
725,672
16,197,914
1,064,105
177,620
378,422
1,620,147
5,419,176
13,862,406
30,504,813
(16,641,034)
(1,373)
13,862,406
TheaboveStatementofFinancialPositionshouldbereadinconjunctionwiththeaccompanyingnotes
ACN120394194
StatementofComprehensiveIncome
Professionalfees
Interestrevenue
Otherrevenue
Totalrevenue
Occupancyexpenses
Salariesandemployeebenefitsexpenses
Depreciationandamortisationexpenses
Advertisingandmarketingexpenses
Administrativeexpenses
Otherexpenses
Financecosts
Impairmentloss
Sharebasedpaymentsexpense
Totalexpenses
Profitbeforeincometax
Incometaxexpense
Profitafterincometax
Netprofitfortheyear
Othercomprehensiveincome
Netgains/(losses)onavailableforsalefinancialassets
Othercomprehensiveincome/(losses)fortheyear,
netoftax
Totalcomprehensiveincomefortheyear
Basicearningspershare(cents)
Dilutedearningspershare(cents)
Note
3(a)
3(b)
3(c)
3(d)
3(e)
CONSOLIDATED
2010
2009
$
$
23,822,676
16,388,522
39,175
158,585
13,137
399,114
23,874,988
16,946,221
(2,114,280)
(1,619,855)
(16,149,830)
(10,167,466)
(343,759)
(189,496)
(222,928)
(209,481)
(2,889,908)
(2,602,316)
(742,175)
(534,936)
(160,597)
(57,148)

(450,000)
(19,243)
(14,838)
(22,642,720)
(15,845,536)
1,232,268
1,100,685
(378,774)
(506,810)
853,494
593,875
853,494
593,875
(68)
112
(68)
853,426
1.18
1.18
112
593,987
0.89
0.89
TheaboveStatementofComprehensiveIncomeshouldbereadinconjunctionwiththeaccompanyingnotes
ACN120394194
StatementofCashFlows
Cashflowsfromoperatingactivities
Receiptsfromcustomers
Interestreceived
Otherrevenue
Paymentstosuppliersandemployees
Interestandothercostsoffinancepaid
Incometaxreceived/(paid)
Netcashflowsfrom/(usedin)operatingactivities
Cashflowsfrominvestingactivities
Purchaseofplantandequipment
Proceedsfromthedisposalofplantandequipment
Paymentforavailableforsaleinvestments
Paymentfortheacquisitionofbusinessesnetof
cashacquired
Netcashflowsusedininvestingactivities
Cashflowsfromfinancingactivities
Proceedsfromloansreceived
Repaymentofborrowings
Dividendspaid
Proceedsfromissueofshares
Paymentsforshareissueexpenses
Netcashflowsfromfinancingactivities
Netincrease/(decrease)incashheld
Cashandcashequivalentsatthebeginningofthe
financialyear
Cashandcashequivalentsattheendofthefinancial
year
Note
CONSOLIDATED
2010
2009
$
$
24,249,661
14,744,556
39,175
159,533
13,103
399,073
(22,800,109)
(15,623,518)
(92,984)
(23,832)
39,315
(1,308,557)
1,448,161
(1,652,745)
(807,264)
(180,612)
5,135
2,326

(802,129)
993,027
(1,584,315)
(131,122)
1,674,510
(115,058)
837,042
1,483,074
(3,731,403)
(3,909,689)
465,875
5,626,766
1,948,949
465,875
2,199,372
(386,764)
(1,411,065)
401,543
(5,160,891)
TheaboveStatementofCashFlowsshouldbereadinconjunctionwiththeaccompanyingnotes
ACN120394194
StatementofChangesinEquity
CONSOLIDATED
Balanceasat1July2008
Issued
Capital
$
Accumulated
Losses
$
29,729,975
Profitfortheyear
Transactionswithownersintheir
capacityasowners
Dividendspaid
Issueofshares
Balanceasat30June2009
Net
Unrealised
Gains/(Losses)
Reserve
$
(15,823,844)
(1,485)
13,904,646
593,875
112
112
593,875
112
593,987
(1,411,065)
30,504,813
Total
Equity
$
593,875
774,838
General
Reserve
$
(16,641,034)
(1,411,065)
774,838
(1,373)
13,862,406
CONSOLIDATED
Balanceasat1July2009
Issued
Capital
$
30,504,813
Profitfortheyear
Transactionswithownersintheir
capacityasowners
Accumulated
Losses
$
Net
Unrealised
Gains/(Losses)
Reserve
$
(16,641,034)
(1,373)
853,494
Total
Equity
$
13,862,406
853,494
(68)
(68)
853,494
(68)
853,426
727,113
General
Reserve
$
Transfertogeneralreserve
(727,113)
Dividendspaid
(173,531)
(173,531)
19,243
19,243
Issueofshares
1,716,910
1,716,910
Transactioncostsonissueofshares
Incometaxonitemstakendirectlytoor
transferredfromequity
(115,058)
(115,058)
34,518
34,518
727,113
16,197,914
Sharebasedpayments
32,160,426
(16,688,184)
(1,441)
TheaboveStatementofChangesinEquityshouldbereadinconjunctionwiththeaccompanyingnotes
ACN120394194
NotestotheFinancialStatements
1) SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES
ThesepreliminaryconsolidatedfinancialstatementsrelatetoIntegratedLegalHoldingsLimitedand
theentitiesitcontrolledduringtheyearended30June2010.Theaccountingpoliciesadoptedare
consistentwiththosedisclosedinitsmostcurrentfinancialstatements.
2) SEGMENTINFORMATION
TheGrouphasidentifieditsoperatingsegmentsbasedontheinternalmanagementreportingthatis
used by the executive management team (the chief operating decision maker) in assessing
performanceandallocatingresources.IntegratedLegalHoldingsLimitedsoperatingsegmentshave
been identified based on how the financial and operating results of the Group are monitored and
presentedinternallytotheexecutivemanagementteam.
TheGroupsreportablesegmentsareidentifiedbymanagementbasedonthenatureofthebusiness
andthesimilaritiesofservicesprovided,methodofdeliveryandtypeofclientsastheGroupsrisks
andreturnsareaffectedpredominantlybydifferencesinlegalproductsandservicesperformed.
Theoperatingbusinessesareorganisedandmanagedseparatelyaccordingtothenatureofthelegal
productsandservicesprovided,witheachsegmentrepresentingastrategicbusinessunitthatoffers
differentlegalproductsandservesdifferentmarkets.
Thefollowingreportablesegmentshavebeenidentifiedbymanagement:
LegalServicesDivision
OperatoroflegalpracticesthroughoutAustralia
InformationTechnologyDivision
Provides an internet portal designed to provide easy access to a range of legal and other
documents tothelegalprofessionandpublicalikeandinformationaboutvariousareasof
law.
Theaccountingpoliciesusedbythe Groupinreportingsegmentsinternallyarethesame asthose

containedinthefinancialreportforthehalfyearended31December2009.
ACN120394194
Businesssegments
The following tables present revenue and profit information for business segments for the years
ended30June2010and30June2009.
Information
Legal
Technology
Total
Services
$
$
$
Yearended30June2010
Revenue
Professionalfees
22,980,838
841,838
23,822,676
Interestrevenue
11,890

11,890
Otherrevenue:
Advertisingrevenue
7,372
7,372
Sundryrevenue
3,699
1,975
5,674
Totalsegmentrevenue
22,996,427
851,185
23,847,612
Unallocatedrevenue:
Interestreceived
27,285
Dividendsreceived
91
Totalunallocatedrevenue
27,376
Intersegmentelimination
Totalrevenueperstatementof
comprehensiveincome
23,874,988
Result
Segmentresult
2,427,771
290,200
2,717,971
Unallocateditems:
Interestrevenue
27,285
Salariesandemployeebenefits
expenses
(860,664)
(407,209)
Otherunallocateditems
(84,518)
Totalunallocateditems
(1,325,106)
Profitbeforetaxandfinancecosts
1,392,865
Financecosts
(160,597)
1,232,268
Incometaxexpense
(378,774)
Netprofitafterincometax
853,494
10
ACN120394194
Yearended30June2009
Revenue
Professionalfees
Interestrevenue
Otherrevenue:
Rentalrevenue
Compensationreceivable
Advertisingrevenue
Sundryrevenue
Intersegmentrevenue
Totalsegmentrevenue
Unallocatedrevenue:
Interestreceived
Dividendsreceived
Totalunallocatedrevenue
Intersegmentelimination
Totalrevenueperstatementof
comprehensiveincome
Result
Segmentresult
Unallocateditems:
Interestrevenue
Salariesandemployeebenefits
expenses
Impairmentloss
Otherunallocateditems
Totalunallocateditems
Profitbeforetaxandfinancecosts
Financecosts
Incometaxexpense
Netprofitafterincometax
Legal
Services
$
15,604,767
3,801
251,931
139,000
1,497
14,110
16,015,106
Information
Technology
$
Total
$
783,755
3,182

5,342
1,259

793,538
16,388,522
6,983
251,931
139,000
5,342
2,756
14,110
16,808,644
151,602
85
151,687
(14,110)
16,946,221
2,533,798
223,979
2,757,777
151,602
(663,216)
(379,498)
(450,000)
(258,832)
(1,599,944)
1,157,833
(57,148)
1,100,685
(506,810)
593,875
11
ACN120394194
Totalassetshaveincreasedby19%sincethelastannualreport.Segmentassetsfortheyearsended
30June2010and30June2009areasfollows:
Legal
Information
Total
Services
Technology
Asat30June2010
$
$
$
Segmentassets
Segmentoperatingassets
18,476,679
2,157,378
20,634,057
Unallocatedassets:
2,134,217
Deferredtaxassets
214,582
Prepayments
42,523
Investmentinassociates
712,888
Availableforsalefinancialassets
2,642
Plantandequipment
3,735
Totalunallocatedassets
3,110,587
Intersegmenteliminations
(850,756)
Totalassetsfromcontinuingoperations
perstatementoffinancialposition
22,893,888
Information
Legal
Technology
Total
Services
$
$
$
Asat30June2009
Segmentassets
Segmentoperatingassets
16,108,199
2,166,143
18,274,342
Unallocatedassets:
547,437
Deferredtaxassets
297,357
Prepayments
170,386
Investmentinassociates
712,888
Availableforsalefinancialassets
2,677
Plantandequipment
5,023
Totalunallocatedassets
1,735,768
Intersegmenteliminations
(728,528)
Totalassetsfromcontinuingoperations
perstatementoffinancialposition
19,281,582
12
ACN120394194
3) REVENUEANDEXPENSES
Revenueandexpensesfromcontinuingoperations
a) Otherrevenue
Rentreceived
Compensationreceived
Dividendsreceived
Sundryincome
b) Depreciationandamortisationexpenses
Depreciationofplantandequipment
Amortisationof:
o Equipmentunderfinancelease
o Identifiedintangibleassets
c) Otherexpenses
Authorroyaltyfees
Donations
Consultingfees
Badanddoubtfuldebts
Bankfees
Otherexpenses
d) Financecosts
Interestotherentities
Interestaccretion
e) Impairmentloss
LawCentral
Consolidated
2010
2009
$
$

251,931

139,000
91
85
13,046
8,098
13,137
399,114
305,209
151,427
2,910
35,640
343,759
2,429
35,640
189,496
81,773

242,591
274,365
137,687
5,759
742,175
76,816
9,220
2,139
359,678
65,225
21,858
534,936
146,458
14,139
160,597
48,839
8,309
57,148
450,000
450,000
13
ACN120394194
4) DIVIDENDSDECLARED
2010
Cents
pershare
0.25
0.50
Total
$
173,531
432,423
2009
Cents
pershare
Total
$
a) Dividendsdeclared,recognisedandpaid
Interimdividend(fullyfranked)
b) Dividendsdeclaredandnotrecognised
Finaldividend(fullyfranked)(c)
c) FinalDividendDetails
Amountpershare
0.5cents
Amountfranked
Fullyfrankedata30%taxrate
Recorddatetodetermineentitlementstothedividend
15October2010
Datethefinaldividendispayable
5November2010
d) Recogniseddividends
The2010interimdividendof$173,531waspaidon9April2010andwassatisfiedbyacashpayment
of$131,122andanissueofsharesundertheGroupsdividendreinvestmentplan(DRP)withavalue
of$42,410.
UndertheGroupsDRPeligibleshareholderswereofferedtheopportunitytoreinvestallorpartof
the interim dividend in additional shares in the Group. The Shares were issued at 12.5 cents per
share,beinga5%discounttotheweightedaveragemarketpriceofsharessoldontheASXduringa
period of 10 trading days (rounded to the nearest half cent), with the period commencing on the
secondtradingdayafterthedividendrecorddate,10March2010.
e) Unrecogniseddividends
A2010finaldividendof0.5centsperordinaryfullypaidshare,fullyfrankedat30%wasannounced
on 12 August 2010 and ispayable on 5 November 2010 to shareholders registered on 15 October
2010. The 2010 final dividend has not been recognised in the financial report because it was
determined,declaredandpubliclyannouncedsubsequenttoyearend.
The final dividend amount of $432,423 has been determined based on the number of eligible
ordinarysharesonissueatthedateofthisfinancialreport.Nofurthersharesareexpectedtobe
issuedwhichwillbeentitledtoparticipateinthedividend.
TheGroupsDRPwillnotapplytothe2010finaldividend.
14
ACN120394194
5) ISSUEDCAPITAL
a) Ordinaryshares
Fullypaidshares
Partlypaidshares(1)
Forfeitedsharesheldintrust(1)
Consolidated
2010
Shares
Consolidated
2009
Shares
86,112,999
371,667
26,667
86,511,333
69,014,511
331,667
69,346,178
Consolidated
2010
$
Consolidated
2009
$
32,126,345
34,081

32,160,426
30,489,975
14,838

30,504,813
Shares
63,538,320
$
29,729,975
4,142,857
580,000
331,667
14,838
1,333,334
180,000
69,346,178
30,504,813
Shares
69,346,178
$
30,504,813
7,000,000
700,000
353,488
42,410
IssuesofsharesunderSharePlacement(Tranche2)on12May2010
4,100,000
410,000
IssuesofsharesunderSharePurchasePlanon26May2010
5,645,000
564,500
(1) DeferredEmployeeSharePlan
b) Movementsinordinarysharecapital
Openingbalanceasat1July2008
Issue of shares at 14 cents per share to vendors of The Argyle
PartnershipLawyerson4November2009
IssueofsharesundertheDeferredEmployeeSharePlan
Issueofsharesat13.5centspersharetovendorofmdalawyerson
13March2010
Openingbalanceasat1July2009
IssueofsharesunderSharePlacement(Tranche1)on8April2010
IssuesofsharesunderDividendReinvestmentPlanon9April2010
Costsassociatedwiththecapitalraising,netoftax
IssueofsharesundertheDeferredEmployeeSharePlan
(80,540)
66,667
19,243
86,511,333
32,160,426
15
ACN120394194
6) ACCUMULATEDLOSSES
Accumulatedlosses
Balanceatbeginningofyear
Netprofitfortheyear
Dividendspaid
Transfertogeneralreserve(refernote7)
Balanceatendoftheyear
7) RESERVES
Consolidated
2010
2009
$
$
(16,688,184)
(16,641,034)
853,494
(173,531)
(727,113)
(16,688,184)
(16,641,034)
(15,823,844)
593,875
(1,411,065)

(16,641,034)
Consolidated
2010
2009
$
$
(1,441)
(1,373)
727,113

725,672
(1,373)
Netgains/(losses)onavailableforsalefinancialassets
Generalreserve(1)
Balanceatendoftheyear
(1)
Duetoaccumulatedlossesincurredpriortothelistingofthecompanyon17August2007,
theDirectorsresolvedtoisolateprofitsderivedfromtradingactivitiessincelistingthrough
theestablishmentofaGeneralReserve.
During the period, $727,113, representing trading profits to 30 June 2009 less dividends
paid,wastransferredtotheGeneralReservefromAccumulatedLosses.
AccumulatedlossesincurredpriortolistingoftheCompanyandcommencementoftrading
activitiesarosefromthefollowingtransactions:
(a) impairment losses incurred on shares issued to vendors of Talbot Olivier

Business Assets, Brett Davies Lawyers Business Assets and Law Central Co Pty
Ltdshareholderson29August2006;and
(b) Sharebasedpaymentsexpensesforsharesissuedatadeemedvalueof50cents
persharetodirectorsandsupporterson29August2006and28February2007.
16
ACN120394194
8) BUSINESSCOMBINATIONS
AcquisitionofArgyleLawyers
On4November2008,IntegratedLegalHoldingsLimited,throughitswhollyownedsubsidiary,Argyle
LawyersPtyLtd,acquiredthelegalpracticeofTheArgylePartnership.Thetransactionwaseffective
from1November2008.
Sincetheendofthepreviousfinancialyear,thefinancialperformanceoftheacquiredbusinesshas
exceededexpectationsandtheamountpayableasdeferredconsiderationinrelationtothebusiness
combinationhasincreasedby$98,337.Thischangeinestimatehasincreasedthetotalacquisition
cost,resultinginacorrespondingincreaseingoodwill.
Forfulldetailsofthebusinesscombinationaffected,pleaserefertotheannualreportfortheyear
ended30June2009.
17

097.ASX IAW Aug 12 2010 15.13 Preliminary Final Report

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

097.ASX IAW Aug 12 2010 15.13 Preliminary Final Report

Uploaded by

Copyright:

Available Formats

INTEGRATEDLEGALHOLDINGSLIMITED

Theaccountingpoliciesusedbythe Groupinreportingsegmentsinternallyarethesame asthose

(a) impairment losses incurred on shares issued to vendors of Talbot Olivier

You might also like