NET ASSETS
Net assets as at 31 May 2003 amounted to £1,621,000 (2002 - £5,735,000) representing net assets per Ordinary share of 2.66 pence (2002 - 9.56 pence).
In accordance with Financial Reporting Standard 10, no amount is included in the balance sheet to reflect the value of home grown players or any market valuation of the playing squad.