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Summarised Statement of Cashflows
for the six months to 31 August 2005
6 months to 6 months to Year to
31 August 05 31 August 04 28 February 05
(unaudited) (unaudited) (audited)
£'000 £'000 £'000
Cashflow from operating activities
Investment income received 133 – 30
Deposit and similar interest received 12 1 2
Investment management fees paid (144) (36) (350)
Secretarial fees paid (30) (30) (60)
Other cash (payments)/receipts (72) (96) 59
Net cash outflow from operating activities
––––––– ––––––– –––––––
and returns on investment (101) (161) (319)
––––––– ––––––– –––––––
Taxation – – –
Financial investment
Purchase of unquoted investments and investments (1,077) (311) (613)
quoted on AIM
Net proceeds on sale of unquoted investments 2,946 – 1,479
Net proceeds on deferred consideration 144 – –
Net proceeds on sale of quoted investments – – –
Net proceeds on liquidation of investments – 25 25
Repurchase of own shares (222) – –
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Net capital inflow/(outflow) from financial investment 1,791 (286) 891
Management of liquid resources
Loans drawn down/(repaid) – 368 (614)
Movement in money market and other deposits (1,258) – –
––––––– ––––––– –––––––
(1,258) 368 (614)
Financing
Proceeds of fund raisings 832 – –
Expenses of fund raisings (78) – –
––––––– ––––––– –––––––
754 – –
––––––– ––––––– –––––––
Increase/(decrease) in cash 1,186 (79) (42)
––––––– ––––––– –––––––
Reconciliation of net cashflow to movement
in net cash/(debt)
Increase/(decrease) in cash for the period 1,186 (79) (42)
Net cash/(debt) at start of period 308 (264) (264)
Loans (drawn down)/repaid – (368) 614
––––––– ––––––– –––––––
Net cash/(debt) at end of period 1,494 (711) 308
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Reconciliation of operating loss to net
cashflow from operating activities
Operating loss (161) (194) (524)
Changes in working capital 60 33 205
––––––– ––––––– –––––––
Net cash outflow from operating activities (101) (161) (319)
––––––– ––––––– –––––––
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