CLUBHAUS PLC
Consolidated Profit and Loss Account
Six months ended 31 March 2004
 Unaudited Unaudited Audited
  six months six months Year
 ended ended ended
 31 March 31 March 30 September
 2004 2003 2003
 restated
  Note £'000 £'000 £'000
 
Turnover 2 12,690 11,939 27,145
Cost of sales  2 (1,479) (1,495) (3,533)
 
Gross profit 2 11,211 10,444 23,612
 
Administrative expenses 2  (10,048) (9,913) (19,892)
 
 
Operating profit and profit on ordinary
activities before interest 2 1,163 531 3,720
Net interest payable  (2,225) (2,177) (4,424)
 
 
Loss on ordinary activities before taxation (1,062) (1,646) (704)
 
Taxation on loss on ordinary activities  - - 55
 
 
Loss on ordinary activities after taxation (1,062) (1,646) (649)
 
Loss per share: basic 3 (0.1p) (0.2p)  (0.1p)
Loss per share: diluted 3 (0.1p) (0.2p) (0.1p)
 
 
All information above relating to the 6 months ended 31 March 2004 relates to
continuing operations only. An analysis of the comparable information for the
year ended 30 September 2003 and the 6 months ended 31 March 2003 is shown in
note 2.
 
 
 
 
Consolidated balance sheet
 Unaudited Unaudited  Audited
 31 March 31 March 30 September
 2004 2003 2003
  £'000 £'000 £'000
Fixed assets
Tangible assets 71,513 73,555 71,133
 
Current assets
Stocks  973 820 1,019
Debtors falling due after more than one year 886 785 912
Debtors falling due in less than one year 956 2,722 1,318
Cash at bank and in hand 125 222 718
 
  2,940 4,549 3,967
Creditors: amounts falling due within one year (6,849) (12,710) (7,457)
 
Net current liabilities (3,909)  (8,161) (3,490)
 
Total assets less current liabilities 67,604 65,394 67,643
Creditors: amounts falling due after more
than one year  (55,310) (51,034) (54,287)
Provisions for liabilities and charges - (55) -
 
Net assets 12,294 14,305 13,356
 
 
Capital and reserves
Called up share capital 915 915 915
Other reserves 140,377 139,234  140,377
Profit and loss account (128,998) (125,844) (127,936)
 
Equity shareholders' funds 12,294 14,305 13,356
 
 
 
 
Consolidated cash flow statement
 Unaudited Unaudited
 six months six months Audited
  ended ended year ended
 31 March 31 March 30 September
  2004 2003 2003
 £'000 £'000 £'000
Net cash inflow from operating
activities (note 4)  1,771 1,303 5,677
 
Net cash outflow from returns on
investments and servicing of finance (1,218) (1,330) (2,651)
 
Tax received  - 450 450
 
Net cash outflow from capital
expenditure and financial investment (1,057) (1,023) (2,476)
Acquisitions and disposals  - 2,245 3,606
 
Net cash (outflow) / inflow from
investing activities (1,057) 1,222 1,130
 
Net cash (outflow) / inflow before
use of liquid resources and financing (504) 1,645 4,606
Net cash outflow from financing (654) (2,514) (4,076)
 
(Decrease) / Increase in cash (1,158) (869) 530
 
 
Reconciliation of net cash flow to
movement in net debt
(Decrease) / Increase in cash and overdrafts (1,158)  (869) 530
Cash outflow from decrease in debt
and lease finance 654 2,514 4,076
 
Change in net debt resulting from cash flows  (504) 1,645 4,606
Other non cash changes to loans (1,676) (994) (1,106)
 
Movement in net debt (2,180) 651  3,500
Opening net debt (54,883) (58,383) (58,383)

Closing net debt (57,063) (57,732) (54,883)