Notes to the accounts

year ended 30 June 2001

15 Financial

Currency profile

Instruments

The Group has overseas subsidiaries which operate in Continental Europe

and the United States of America. Their revenues and expenses are

denominated substantially in the currencies in which they operate. The

Group's principal exposure to exchange rate fluctuations arises on the

translation of the overseas net assets and profits into sterling for accounting

purposes.

Liquidity risk

The Group's policy throughout the year has been to ensure continuity of

funding and flexibility through use of a mixture of term deposits.

Deferred 

16 Provisions for 

taxation

liabilities and 

The Group

 '000

charges

Balance at 30 June 2000

21

Decrease in provision

(21)

Balance at 30 June 2001

Deferred taxation provided in the accounts and the amounts not provided are as follows:

Not

Not

Provided

Provided

provided

provided

2001

2000

2001

2000

 '000

 '000

 '000

 '000

Capital allowances in excess of depreciation

21

(101)

2001

2000

2001

2000

17 Called up

No.

No.

 '000

 '000

share capital

Authorised:

Ordinary shares 

of 1p each 

21,300,000

21,300,000

213

213

Number 

of shares

  000

Allotted, called up and fully paid:

At 1 July 2000

16,043,245

160

Shares issued by 

exercise of share options

273,971

3

At 30 June 2001

16,317,216

163

The following is a summary of the changes in the share capital of the Company

during the year.

Nominal

value

Consideration

No.

  000

Shares issued in the year for cash were:

Employees share option scheme at 25p

74,304

1,463

18,576

Employees share option scheme at  1p

199,667

1,997

1,997

273,971

3,460

20,573

34