Games Workshop Financial Results 2007

		Group		Company
	Notes	53 weeks ended 3 June 2007 £000	52 weeks ended 28 May 2006 £000	53 weeks ended 3 June 2007 £000	52 weeks ended 28 May 2006 £000

Cash flows from operating activities
Cash generated from operations	29	10,341	15,789	(580)	(2,133)
UK corporation tax paid		(503)	(1,665)	-	-
Overseas tax paid		(1,345)	(1,838)	-	-

Net cash from operating activities		8,493	12,286	(580)	(2,133)

Cash flows from investing activities				-
Purchases of property, plant and equipment		(5,813)	(8,321)	-	-
Proceeds on disposal of property, plant and equipment	29	13	32	-	-
Purchases of other intangible assets		(951)	(830)	-	-
Expenditure on product development		(2,937)	(2,505)	-	-
Dividends received		-	-	1,100	7,358
Interest received		336	234	87	96

Net cash from investing activities		(9,352)	(11,390)	1,187	7,454

Cash flows from financing activities
Proceeds from issue of ordinary share capital		-	207	-	233
Proceeds from borrowings		2,908	1,955	2,600	-
Repayment of borrowings		-	-	-	(2,400)
Loans received from related parties		-	-	621	227
Repayments of borrowings to related parties		-	-	(621)	-
Repayment of principal under finance leases		(41)	(143)	-	-
Equity dividends paid		(5,904)	(5,874)	(5,904)	(5,874)
Interest paid		(1,113)	(886)	(524)	(430)

Net cash from financing activities		(4,150)	(4,741)	(3,828)	(8,244)

Effects of foreign exchange rates		(107)	(5)	-	-

Net decrease in cash and cash equivalents		(5,116)	(3,850)	(3,221)	(2,923)

Opening cash and cash equivalents		4,772	8,622	(808)	2,115

Closing cash and cash equivalents	20	(344)	4,772	(4,029)	(808)

For the purpose of the cash flow statement, cash and cash equivalents includes bank overdrafts (see note 20).

The accompanying notes are an integral part of these financial statements.