NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

Reconciliation of operating profit to operating cash flow

  2003
£000		 2002
£000
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Operating profit 17,461 13,505
Loss on disposal of tangible fixed assets 130 151
Depreciation of tangible fixed assets 5,709 4,847
Amortisation of goodwill 457 252
Amortisation of own shares 121 662
Exchange movements 135 11
(Increase)/decrease in stocks (3,236) 54
Increase in debtors (2,414) (434)
Increase in creditors 5,098 2,356
(Decrease)/increase in provisions (281) 606
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Net cash inflow from operating activities 23,180 22,010
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Analysis of net funds

  As at
3 June 2002
£000		 Cash flow
£000		 As at
1 June2003
£000
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Cash at bank and in hand 9,132 2,596 11,728
Debt due within one year (2,500) 2,500 -
Hire purchase contracts (20) 20 -
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Net funds 6,612 5,116 11,728
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Reconciliation of net cash flow to movement in net funds

  2003
£000		 2002
£000
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Increase in cash in the year 2,596 42
Cash outflow/(inflow) from decrease/(increase) in debt and lease financing 2,520 (2,264)
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Change in net funds resulting from cash flows 5,116 (2,222)
Loans acquired with subsidiary - (194)
Relinquished hire purchase contracts - 70
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Change in net funds in the year 5,116 (2,346)
Net funds at 3 June 2002 6,612 (8,958)
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Net funds at 1 June 2003 11,728 6,612
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