Notes to the Accounts (continued)
for the year ended 31 January 2000 |
14. Creditors — amounts falling due after more than one year |
|
Note
|
|
Year ended
31 January
2000
£000
|
Year ended
31 January
1999
£000
|
 |
 |
Long term loan
Obligations under finance leases
and hire purchase agreements
|
21
22 |
|
5,000
47 |
5,000
298 |
|
|
|
|
|
5,047 |
5,298 |
|
|
 |
The long term loan is secured on trade debtors and is repayable on 30 September 2002. It attracts interest at a fixed rate of 7.85%.
|
|
15. Provisions for Liabilities and Charges |
|
Note
|
|
Year ended
31 January
1999
£000
|
Charged to
Profit and
Loss
£000
|
Utilised
£000
|
Year ended
31 January
2000
£000 |
|
|
|
Re-organisation costs
Property costs |
7
7 |
|
2,197
612 |
775
(439) |
(2,023)
(173) |
949
— |
|
|
|
|
|
|
|
2,809 |
336 |
(2,196) |
949 |
|
|
|
The remaining provision for re-organisation costs will be utilised in the year ending 31 January 2001.
|
|
16. Called Up Share Capital |
|
|
Year ended
31 January
2000
£000 |
Year ended
31 January
1999
£000 |
|
|
|
Authorised
27,500,000 ordinary shares of 5p each |
1,375 |
1,375 |
|
|
|
Allotted, called up and fully paid
20,410,466 (1999: 20,391,789) ordinary shares of 5p each |
1,021 |
1,020 |
|
|
|
The movement in share capital relates to the issue of 18,677 ordinary shares of 5p each to the Non-Executive Directors as part of their remuneration. These costs have, therefore, been charged to the Profit and Loss Account, as they are not recoverable from the Directors. Unexercised options totalling 1,801,884 have been granted from the date of flotation to 31 January 2000, with exercise prices ranging from 178.00p to 305.33p, representing the market value at the date of grant.
|
17. Reserves |
|
Profit
and Loss
Account
£000
|
Share
Premium
Account
£000
|
Year ended
31 January
2000
£000 |
Year ended
31 January
1999
£000
|
|
|
|
Balance at 1 February 1999
Retained profit for the year
New share capital subscribed |
10,803
884
— |
1,125
—
34 |
11,928
884
34 |
8,995
2,863
70 |
|
|
|
Balance at 31 January 2000
|
11,687 |
1,159 |
12,846 |
11,928 |
|
|
|
18. Operating Lease Commitments |
At 31 January 2000 the Company was committed to making the following payments during the next year in respect of operating leases: |
|
Land and
Building
£000
|
Other
£000
|
Year ended
31 January
2000
£000 |
Year ended
31 January
1999
£000
|
|
|
|
Leases which expire:
Within one year
Within two to five years
After five years |
—
228
720 |
4
12
— |
4
240
720 |
—
67
818 |
|
|
|
|
Total |
948 |
16 |
964 |
885 |
|
|
|
19. Reconciliation of Operating Profit to Cash
19. Inflow from Operating Activities |
|
|
Year ended
31 January
2000
£000 |
Year ended
31 January
1999
£000 |
|
|
|
Operating profit (after exceptional item)
Depreciation
Fixed asset write off
Loss on disposal of tangible fixed assets
Decrease/(increase) in debtors
(Decrease)/increase in provisions
(Decrease)/increase in creditors |
5,847
858
—
113
10,642
(1,860)
(5,375) |
9,074
794
238
62
(13,720)
2,809
4,815 |
|
|
|
|
Net cashflow inflow/(outflow) from operating activities |
10,225 |
4,072 |
|
|
|
Operating profit includes an exceptional item of £1,582,000 in relation to re-organisation costs amounting to £775,000 and a profit of £439,000 on the reversal of a provision in respect of property costs. These amounts are referred to in note 15 and are also included in the movement of provisions. |
|
|
|
|
|
|
|
