Key Financial Data

Consolidated profit and loss account

Consolidated balance sheet

Consolidated cash flow statement

Notes to the accounts extracted from Annual Report

For the year ended 31 January 2007

		Continuing operations 2007	Acquisitions 2007	Total year ended 2007	Total year ended 2006
	Note	£000	£000	£000	£000
Turnover: group and share of associated undertakings		91,766	7,532	99,298	62,313
Less: share of associated undertakings' turnover				–	(2,800)
Group turnover	1			99,298	59,513
Cost of sales		(64,839)	(4,395)	(69,234)	(42,575)
Gross profit		26,927	3,137	30,064	16,938
Administrative expenses	1	(19,607)	(1,228)	(20,835)	(11,516)
FRS 20 share-based payment		(922)		(922)	(201)
Amortisation of goodwill		(1,121)		(1,121)	(146)
Flotation costs	2	–	–	–	(1,328)
Total administrative expenses		(21,650)	(1,228)	(22,878)	(13,191)
Operating profit		5,277	1,909	7,186	3,747
Share of operating profits of associated undertakings				–	138
Net interest	3			(125)	80
Profit on ordinary activities before taxation	1			7,061	3,965
Tax on profit on ordinary activities	5			(2,372)	341
Profit on ordinary activities after taxation				4,689	4,306
Minority interest				96	(11)
Retained profit for the financial year				4,785	4,295
Earnings per share	7
Basic				12.8p	13.8p
Diluted				11.8p	13.0p
All transactions arise from continuing operations. The accompanying accounting policies and notes form an integral part of these financial statements.

At 31 January 2007

		2007	2006 (restated)
	Note	£000	£000
Fixed assets
Intangible assets	12	33,611	14,514
Tangible assets	9	169	165
Investments	10	1,841	1,589
		35,621	16,268
Current assets
Stocks	13	13,598	9,270
Debtors	14	26,931	20,578
Cash at bank and in hand		6,761	8,411
		47,290	38,259
Creditors: amounts falling due within one year	16	(43,999)	(33,090)
Net current assets		3,291	5,169
Total assets less current liabilities		38,912	21,437
Creditors: amounts falling due after more than one year	17	(13,250)	(6,830)
		25,662	14,607
Capital and reserves
Called-up share capital	19	388	356
Share premium account	21	3,779	3,652
Merger reserve	21	8,537	2,566
Profit and loss account	21	13,032	8,011
Equity shareholders' funds	22	25,736	14,585
Equity minority interests		(74)	22
Total capital employed		25,662	14,607
These financial statements were approved by the Board of directors on 12 June 2007.

For the year ended 31 January 2007

		2007	2006
	Note	£000	£000
Net cash inflow from operating activities	23	5,277	2,294
Returns on investments and servicing of finance
Interest received		259	165
Interest paid		(382)	(73)
Interest element of finance lease rentals		(3)	(12)
Net cash (outflow)/inflow from returns on investments and servicing of finance		(126)	80
Taxation
Corporation tax paid		(1,110)	(431)
Capital expenditure and financial investment
Purchase of intangible fixed assets		(5)	–
Purchase of tangible fixed assets		(1,476)	(874)
Purchase of investments		(4)	(165)
Disposal of tangible fixed assets		88	–
Net cash outflow from capital expenditure and financial investment		(1,397)	(1,039)
Acquisitions
Purchase of subsidiary undertakings		(10,107)	(8,104)
Net cash acquired with subsidiary		5,210	4,534
Net cash outflow from acquisitions		(4,897)	(3,570)
Equity dividends paid		(685)	(1,500)
Cash outflow before financing		(2,938)	(4,166)
Financing
Repayment of borrowings		(796)	(200)
Receipts from borrowing		2,000	5,412
Issue of shares		130	2,067
Capital element of finance lease rentals		(46)	(112)
Net cash inflow from financing		1,288	7,167
(Decrease)/increase in cash in the year	24	(1,650)	3,001
The accompanying accounting policies and notes form an integral part of these financial statements.