|
23
share premium account and reserves
|
| Group |
Share
premium |
|
Merger
reserve |
|
Profit
and loss |
|
| |
account |
|
|
|
account |
|
| |
£'000 |
|
£'000 |
|
£'000 |
|
| At 1 May
2002 |
18,327 |
|
7,204 |
|
11,358 |
|
| Retained profit for the
period |
– |
|
– |
|
11,058 |
|
| Exchange differences |
– |
|
– |
|
670 |
|
| Premium on shares issued
net of issue costs |
11,792 |
|
479 |
|
– |
|
 |
 |
|
|
|
|
|
| At 30 April 2003 |
30,119 |
|
7,683 |
|
23,086 |
|
|
|
|
|
|
|
|
|
|
| |
| |
| Company |
Share
premium |
|
Merger
reserve |
|
Profit
and loss |
|
| |
account |
|
|
|
account |
|
| |
£'000 |
|
£'000 |
|
£'000 |
|
| At 1 May
2002 |
18,327 |
|
7,204 |
|
2,503 |
|
| Retained profit for the
period |
– |
|
– |
|
2,432 |
|
| Premium on shares issued
net of issue costs |
11,792 |
|
479 |
|
– |
|
|
|
|
|
|
|
|
| At 30 April 2003 |
30,119 |
|
7,683 |
|
4,935 |
|
|
|
|
|
|
|
|
|
|
| |
24
reconciliation of operating profit to net operating cash
flows |
| |
2003
|
|
2002 |
|
| |
£'000 |
|
£'000 |
|
| |
|
|
|
|
| Operating profit |
20,950 |
|
13,148 |
|
| Amortisation of intangible
assets and goodwill |
4,650 |
|
3,271 |
|
| Depreciation of tangible fixed assets |
592 |
|
513 |
|
| Increase in debtors |
(7,483) |
|
(4,357) |
|
| Increase in creditors |
4,908 |
|
4,180 |
|
| (Profit)/loss on sale of fixed assets |
(3) |
|
78 |
|
| Foreign exchange differences |
(76) |
|
72 |
|
|
|
|
|
|
| Net cash inflow from continuing
operating activities |
23,538 |
|
16,905 |
|
|
|
|
|
|
|
|
| |
25
analysis of change in net funds/(debt) |
| |
At
1 May |
|
Cash
flow |
|
Non
cash |
|
Exchange |
|
At
30 April |
|
| |
2002 |
|
|
|
movements |
|
movement |
|
2003 |
|
| |
£'000 |
|
£'000 |
|
£'000 |
|
£'000 |
|
£'000 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Cash at bank and in
hand |
23,713 |
|
21,238 |
|
– |
|
500 |
|
45,451 |
|
|
|
|
|
|
|
|
|
|
|
|
| Net cash |
23,713 |
|
21,238 |
|
– |
|
500 |
|
45,451 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Bank and other loans |
(19,693) |
|
(28,326) |
|
(51) |
|
– |
|
(48,070) |
|
| Finance leases |
(335) |
|
121 |
|
(42) |
|
– |
|
(256) |
|
|
|
|
|
|
|
|
|
|
|
|
| Borrowings |
(20,028) |
|
(28,205) |
|
(93) |
|
– |
|
(48,326) |
|
|
|
|
|
|
|
|
|
|
|
|
| Net funds/(debt) |
3,685 |
|
(6,967) |
|
(93) |
|
500 |
|
(2,875) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
26
reconciliation of net cash flow to movement in net (debt)/funds |
| |
2003
|
|
2002 |
|
| |
£'000 |
|
£'000 |
|
| Increase
in cash |
21,238 |
|
13,815 |
|
| Cash (inflow)/outflow
from (increase)/decrease in debt |
(28,205) |
|
3,648 |
|
|
|
|
|
|
| (Increase)/decrease in net
(debt)/funds from cash flows |
(6,967) |
|
17,463 |
|
| |
|
|
|
|
| Debt acquired with subsidiary |
– |
|
(178) |
|
| New finance leases incepting in the
period |
(42) |
|
(120) |
|
| Finance lease reduction by way of asset
disposal |
– |
|
48 |
|
| Translation difference |
500 |
|
– |
|
| Amortisation of loan arrangement fees |
(51) |
|
(14) |
|
|
|
|
|
|
| (Increase)/decrease in net
(debt)/funds in the period |
(6,560) |
|
17,199 |
|
| |
|
|
|
|
| Net funds/(debt) at 1 May 2002
and 1 May 2001 |
3,685 |
|
(13,514) |
|
|
|
|
|
|
| |
|
|
|
|
| Net (debt)/funds at 30 April
2003 and 30 April 2002 |
(2,875) |
|
3,685 |
|
|
|
|
|
|
|
|
|
|
