NAME OF COMPANY The Stanley Gibbons Group plc

BALANCE
Date SHEET
of Auditors ANALYSIS SPREAD SHEET
Certificate
Date of balance sheet 31/12/2006 31/12/2007 31/12/2008
(State if qualified) n/q n/q n/q
Currency (in GBP £000's)__________________)
QUICK ASSETS
Cash & bank 3,083 3,013 535
Prepayments 402 606

Other receivables 105 116

Debtors/Accounts Receivable/Bills Receivable 3,254 3,741 3,266
TOTAL QUICK ASSETS 6,337 7,261 4,523

Raw materials & consumables 29 38 33

Work-in-progress 83 80 80
finished goods & goods for resale 5,923 6,991 9,203
investment portfolios of stamps 2,429
TOTAL CURRENT ASSETS 12,372 14,370 16,268
CURRENT LIABILITIES
Trade & Other Payables 1,244 2,536 2,331
Bank loans & overdrafts
Current portion long term loan
Tax & Social Security 196 158 198
Corporation Tax 513 908 656
Derivative financial instruments
Provisions & charges
Accruals and deferred income 257 208 223
Other Current Liabilities 197 216 76
TOTAL CURRENT LIABILITIES 2,407 4,026 3,484
LIQUID SURPLUS/(DEFICIT) 9,965 10,344 12,784
QUICK ASSET SURPLUS/(DEFICIT) 3,930 3,235 1,039
FIXED AND OTHER ASSETS
Property & Leasehold Improvements 228 197 147
F&F + Vehicles 205 169 130
Reference Stamp Collection 601 612 624

Trade & other receivables 610 2,846 2,801

Deferred Income Tax Asset 25 71 21

Computer Software 83 37 64

1,752 3,932 3,787

TERM AND OTHER LIABILITIES

Potential contractual liability 171 300 517

Retirement Benefit Obligation 84 252 75
Defered tax liabilities 179 150 144
Provisions & charges 50 62
TERM & OTHER LIABILITIES 484 764 736
Minority Interests
TOTAL TERM & OTHER LIABILITES 484 764 736
NET TANGIBLE ASSETS - SURPLUS/(DEFIC 11,233 13,512 15,835
Financed by
Share Capital - Issued 251 251 252
Share Premium Account 5,148 5,148 5,195
Capital Reserves 215 220 220
Distributable Reserves 5,619 7,849 10,076
Shares to be issued 44 92

SHAREHOLDERS FUNDS - SURPLUS/(DEFIC 11,233 13,512 15,835

Check line 0 0 0
SUMMARY OF MOVEMENTS IN NTA's
Opening NTA's 9,012 11,233 13,512

PBIT / Operating Profit 3,570 4,361 3,610

Exceptional items
Investment Income and Interest Receivable 176 149 103
Profit Before Interest Paid 3,746 4,510 3,713
(Interest Paid) (2) (12)
Profit Before Tax (PBT) 3,746 4,508 3,701
(Taxation) (972) (1,125) (378)

'Attributable Profit/Loss After Tax (APAT) 2,774 3,383 3,323

(Dividends) (877) (1,068) (1,194)
Residual Profit/Loss 1,897 2,315 2,129
Asset revaluation 47
Taxation adjustment (76) 5
Shares Issued & sold 110 44 96
Pension Fund Adjustment 243 (85) 98
Share based payments (acquisitions/employees)
Sundry matters
NET VARIATION IN SURPLUS/(DEFICIT) 2,221 2,279 2,323
Closing NTA's 11,233 13,512 15,835
Checkline 0 0 0

KEY FIGURES AND RATIOS

Sales 16,684 20,191 19,394
Cost of Goods Sold 8,448 10,815 10,135
Gross Profit 8,236 9,376 9,259
Depreciation 127 197 172
Capital Employed #VALUE! #VALUE! #VALUE!
PROFITABILITY
Gross Profit Margin
(Gross Profit ÷ Sales x 100 49.4 46.4 47.7
Net Profit Margin
(Residual profit ÷ Sales x 100) 11.4 11.5 11.0
Return on Capital Employed
(Profit Before Interest & Tax÷
Capital Employed )x 100) #VALUE! #VALUE! #VALUE!
CONTROL/LIQUIDITY
Credit Given
(Debtors ÷ Sales x 360) 70 67 61
Credit Taken
(Creditors ÷ Cost of Goods Sold x 360) 53 84 83
Stock Turnover
(Stock ÷ Cost of Goods Sold x 360) 257 237 331

Current Ratio
(Current Assets ÷ Current Liabilities) 5.1 3.6 4.7
Liquid Ratio
(Quick Assets ÷ Current Liabilities) 2.6 1.8 1.3
GEARING AND SOLVENCY
Gross Gearing
(Total Borrowings ÷ Surplus) 0.00 0.00 0.00
Net Gearing
(Net Borrowings ÷ Surplus)
Gearing (Total Liabilties)

OTHER KEY FIGURES

Capital Expenditure (per cash flow statement) 145 95 122
Capital Commitments: Contracted 0 0 0
Authorised 0 0 0
Contingent Liabilities: Guarantess 0 0 107
Other 0 0
Leasing Obligations 180 192 193
Directors Remuneration 479 478 523