Annual Report for the year ended 31 December 2008

10. CasH and CasH eQUiValents
2008 2007
£'000 £'000
CASH AND CASH EQuIVALENTS
cash at bank and in hand 249 288
short term bank deposits 75,293 55,188
75,542 55,476
11. tRade and otHeR PaYaBles
2008 2007
£'000 £'000
Amount owed to Group undertaking 4,093 3,110
other taxation and social security 168 59
other payables 6 142
Accruals and deferred income 2,013 1,468
6,280 4,779
12. emPloYees and diReCtoRs
2008 2007
£'000 £'000
EMPLOYEE REMuNERATION EXPENSE
Wages and salaries 1,955 1,173
social security costs 134 193
redundancy costs – 23
other pension costs 1 4
cost of share options 761 745
other staff costs 31 1
Total employee remuneration expense 2,882 2,139
The average number of employees (including Directors) during the year was as follows:
2008 2007
Group 13 11
The actual number of full time employees was 15 at 31 December 2008 (31 December 2007: 13).
13. CasH FloW FRom oPeRatinG aCtiVities
reconciliation of operating (loss) to net cash generated from operating activities:
2008 2007
£'000 £'000
CASH GENERATED FROM OPERATING ACTIVITIES
operating (loss) (1,291) (2,845)
ADJuSTMENTS FOR:
profit on sale of available-for-sale financial assets – (200)
share options charge 761 744
cost of matching shares issued under sip 760 217
CHANGES IN wORkING CAPITAL:
(increase)/decrease in trade and other receivables (302) 33,101
increase/(decrease) in trade and other payables 301 (1,599)
CASH GENERATED FROM OPERATING ACTIVITIES 229 29,418
notes to tHe FinanCial statements CONTINuED
FOR THE YEAR ENDED 31 DECEMBER
91