Notes to the Accounts (continued)
for the year ended 31 January 2000 |
10. Earnings Per Share |
|
Earnings
£000 |
2000
Weighted
Average No.
of shares
in issue
000s |
Earnings
per share
(p) |
Earnings
£000 |
1999
Weighted
Average No.
of shares
in issue
000s |
Earnings
per share
(p) |
 |
|
Basic EPS
Profit after taxation
(before exceptional item) |
4,779 |
19,765 |
24.2 |
7,864 |
19,703 |
39.9 |
|
|
|
Profit after taxation
(after exceptional item)
Effect of
Dilutive Securities
Options |
3,435
— |
19,765
43 |
17.4
— |
5,410
— |
19,703
251 |
27.4
— |
|
|
|
Diluted EPS
Profit after taxation
(before exceptional item) |
4,779 |
19,808 |
24.1 |
7,864 |
19,954 |
39.3 |
|
|
|
Profit after taxation
(after exceptional item) |
3,435 |
19,808 |
17.3 |
5,410 |
19,954 |
27.0 |
|
|
|
Shares held by MSB Incentive Scheme Trustee Limited are excluded from the weighted average number of shares in issue in the calculation. Details of unexercised options are given in note 16 to the financial statements. |
11. Tangible Fixed Assets |
|
Leasehold
improvements
£000 |
Motor
vehicles
£000 |
Furniture,
fittings &
equipment
£000 |
Software
development
£000 |
Total
£000 |
|
|
|
Cost
At 1 February 1999
Additions
Disposals |
413
95
— |
1,543
248
(726) |
1,488
678
— |
164
24
— |
3,608
1,045
(726) |
|
|
|
|
At 31 January 2000 |
508 |
1,065 |
2,166 |
188 |
3,927 |
|
|
|
Depreciation
At 1 February 1999
Charge for the year
Disposals |
76
140
— |
458
264
(310) |
430
448
— |
164
6
— |
1,128
858
(310) |
|
|
|
|
At 31 January 2000 |
216 |
412 |
878 |
170 |
1,676 |
|
|
|
Net Book Value
At 31 January 2000 |
292 |
653 |
1,288 |
18 |
2,251 |
|
|
|
|
At 1 February 1999 |
337 |
1,085 |
1,058 |
— |
2,480 |
|
|
|
The net book value of the above fixed assets includes £604,206 (1999: £1,552,000) in respect of assets held under finance leases and hire purchase agreements. |
12. Debtors |
|
Year ended
31 January
2000
£000 |
Year ended
31 January
1999
£000 |
|
|
|
Trade debtors
Other debtors
Prepayments and deferred income
Deferred taxation |
29,279
949
5,246
63 |
42,102
1,007
3,007
305 |
|
|
|
|
|
35,537 |
46,421 |
|
|
|
|
The Company uses a confidential invoice discounting facility in respect of its trade debtors. Under this arrangement the Company can receive up to 80% of the gross value of its invoices immediately upon acceptance of those invoices by the factoring company.
At 31 January 2000 £13,788,058 of the trade debtors were accepted by the factoring company as being available for the confidential invoice discounting facility (1999: £15,032,000). A further £6,250,000 of the trade debtors were accepted in providing cover for the long term loan of £5,000,000, as detailed in note 14. |
13. Creditors – amounts falling due within one year
|
|
Notes |
|
Year ended
31 January
2000
£000 |
Year ended
31 January
1999
£000 |
|
|
|
Bank Overdraft
Amounts advanced from invoice discounting company
Obligations under finance leases and hire
purchase agreements
Trade creditors
Other creditors
Dividened proposed
Corporation tax
Other tax and social security payable
Accruals |
21
21
|
|
451
3,582
360
3,605
908
1,694
895
627
5,803 |
—
7,352
577
9,392
1,203
1,692
2,304
2,148
3,610 |
|
|
|
|
|
17,925 |
28,278 |
|
|
|
At the year-end the Company had at its disposal unused facilities from the invoice discounting company, amounting to £1,976,485 (1999: £4,025,000). |
|
|
|
|
|
|
|
|
|
