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                            C H Bailey Plc
           Balance Sheets as at 31st March 2004
               Group                              Company
2004 2003 2004 2003
Fixed assets
Tangible assets 8,280,231 8,660,254 960,249 962,888
Fixed investments - - 7,915,266 7,915,266
8,280,231 8,660,254 8,875,515 8,878,154
Current assets
Stocks and work in progress 109,258 79,133 -
Debtors 1,356,298 1,517,453 2,192,404 2,654,482
Current investments 4,031,017 3,996,727 920,772 798,661
Cash at bank and in hand 561,715 1,074,245 5,622 5,810
6,058,288 6,667,558 3,118,798 3,458,953
Creditors: amounts falling due
within one year 3,733,421 3,056,654 4,277,665 6,786,623
Net current assets (liabilities) 2,324,867 3,610,904 (1,158,867) (3,327,670)
Total assets less current
liabilities 10,605,098 12,271,158 7,716,648 5,550,484
Creditors: amounts falling due
after more than one year 393,756 240,291 -
Provision for liabilities and
charges 50,000 516,489 50,000 111,553
Net assets 10,161,342 11,514,378 7,666,648 5,438,931
Financed by:
Capital and reserves
Called up share capital 5,996,873 5,996,873 5,966,873 5,996,873
Reserves 4,130,610 5,485,711 1,669,775 (557,942)
Equity Shareholders' funds 10,127,483 11,482,584 7,666,648 5,438,931
Minority interest - all equity 33,859 31,794 - -
10,161,342 11,514,378 7,666,648 5,438,931
Net assets per share 16.94p 19.20p 12.78p 9.07p

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