Financial Statements

Cash flow statements

Group Company
52 weeks ended
1 May 2011
52 weeks ended
2 May 2010
52 weeks ended
1 May 2011
26 weeks ended
2 May 2010
Note £m £m £m £m
Cash flows from operating activities
Profit/(loss) before tax 47.3 22.5 (0.2) (1.1)
Adjusted for:
- Depreciation of property, plant and equipment 20 7.4 4.1 0.2
- Loss on disposal of property, plant and equipment 10 0.2
- Amortisation of intangible assets 21 0.5 0.1 0.1
- Net impact of lease incentives (0.2) 0.4
- Net finance (income)/cost (0.1) 0.2
- Fair value losses on derivative financial instruments 33 1.5 0.2
- Foreign exchange losses/ (gains) on operating activities 0.1 (0.3)
- Share based payment for termination agreement with 888 clothing 0.5 0.5
- Fair value losses on deferred share consideration 5 0.4
- Impact of IFRS 3 (revised) on inventory acquired at date of acquisition 5 1.9
- Long term incentive plan 13 0.2
Changes in working capital:
- Increase in inventories (24.3) (3.6)
- Increase in trade and other receivables (13.4) (5.1) (14.5) (1.5)
- Increase in trade and other payables, and provisions 3.4 8.7 - 1.4
Cash generated from/ (used) in operations 25.4 27.2 (13.9) (1.2)
Interest received 14 0.1 0.1
Interest paid 15 (0.2)
Tax paid (7.4)
Net cash generated from/ (used in) operating activities 18.1 27.0 (13.8) (1.2)
Cash flow from investing activities
Acquisition of subsidiaries (net of cash acquired) 5 (2.9)
Purchase of property, plant and equipment 2 (19.8) (15.2) (1.0) (0.1)
Proceeds on sale of property, plant equipment 0.1 0.1
Purchase of intangible assets 21 (0.7) (0.6) (0.4) (0.1)
Purchase of investments 22 (25.0)
Net cash used in investing activities (23.3) (15.7) (26.4) (0.2)
Cash flow from financing activities
Cash contributions received from landlords 9.7 11.2
Repayment to related party (0.2)
Repayment of borrowings (2.9)
Members’ drawings/transfers (5.8)
Amounts repaid to retired members (0.2)
Proceeds received from issuance of shares net of transaction costs (Statement of changes in Equity) 121.4 18.0 121.4
Repayment of loan notes (105.0) (105.0)
Net cash generated from financing activities 9.7 18.5 18.0 16.4
Net increase/(decrease) in cash and cash equivalents 32 4.5 29.8 (22.2) 15.0
Cash and cash equivalents, net of overdraft, at beginning of period 26 28.0 (1.8) 15.0
Exchange losses on cash and cash equivalents 32 (0.3)
Cash and cash equivalents at end of period, net of overdraft 26 32.2 28.0 (7.2) 15.0

The notes inclusive are an integral part of these consolidated financial statements.