Floors 2 Go plc Annual report and financial statements 2004
Floors 2 Go plc  Annual report and financial statements 2004
Floors-2-Go House
74 Newtown Row
Birmingham
B6 4HA
www.floors2go.co.uk
_cover.qxd  14/04/2005  12:52  Page 2 1 Corporate Statement and Highlights
2 Chairman’s Statement
3 Chief Executive’s Review
4 Corporate and Social Responsibility
5 Staff Names
6 Store Locations
7 Board of Directors and Corporate Advisors
8 Directors’ Report
10 Corporate Governance 
11 Directors’ Remuneration Report 
13 Independent Auditors’ Report
14 Consolidated Profit and Loss Account
15 Consolidated Balance Sheet
16 Company Balance Sheet
17 Consolidated Cash Flow Statement
18 Notes to the Financial Statements
35 Notice of Meeting
ibc Company Information
Served
826,000
customers
Have
125
stores in total and that number
is growing
Sold
6.4m 
metres of laminate and
wood flooring
Hold 
16.5% 
of market share
In 2004 we
Floors 2 Go plc Annual report and financial statements 2004
Company Information
DIRECTORS
R Gabbie – Non-executive Chairman
S Farnsworth – Chief Executive Officer
E Taylor – Finance Director
C Davies – Non-executive Director
K Salisbury – Non-executive Director
K Pacey – Non-executive Director
ADVISORS
SECRETARY
E Taylor
AUDITORS
Ernst & Young LLP
No.1 Colmore Square
Birmingham
B4 6HQ
BANKERS
HSBC
31 Granby Street
Leicester
LE1 3EP
REGISTERED NUMBER
4728181
REGISTERED OFFICE
74 Newtown Row
Birmingham
B6 4HA
NOMINATED ADVISER AND BROKER
Numis Securities Limited
Cheapside House
138 Cheapside
London
EC2V 6LH
REGISTRARS
Neville Registrars
Neville House
18 Laurel House
Halesowen
West Midlands
B63 3DA
_cover.qxd  14/04/2005  12:52  Page 1 Floors 2 Go is the largest specialist, multi-site retailer of real
wood, engineered and laminate flooring, and related accessories
in the UK. The business sells direct to the public from 125 stores
located nationwide.
Floors 2 Go sells predominantly to the general public, but also
has a large base of trade customers. The Company has built its
reputation through a combination of their broad product range,
convenient store locations, and specialist staff knowledge. 
The product ranges of Floors 2 Go are mainly own label brands,
although they do stock selected branded products too, such as
Quick Step and Bruce flooring. Their laminate ranges are all easy
to fit click products, targeted at the home DIY market.
Floors 2 Go source the majority of their laminate products from
three of Europe’s leading manufacturers, and their real wood
flooring is primarily sourced from the Far East.
Floors 2 Go buy directly from manufacturers, rather than through
distributors, and the Company believes that this relationship with
their suppliers offers them a significant competitive advantage.
Two of their main suppliers hold Floors 2 Go labelled stock in
warehouses in the UK at no extra cost to the Company.
Corporate Statement
Floors 2 Go plc Annual report and financial statements 2004 1
Highlights
• Sales up by 78%
 Profit up by 167%
 Maiden dividend of 1p per share
 Largest specialist, multi-site retailer of real wood, engineered and laminate
flooring, and related accessories in the UK
 Served 826,000 customers
 Strong supplier links with leading manufacturers
_1F2G_arf04.qxd  14/04/2005  12:53  Page 1 2004
Actual 2004 2003
9 months Pro-forma Actual
trading 12 months 12 months
£’000 £’000 £’000
Turnover 61,972 78,794 44,156
Gross profit 30,100 37,815 20,818
Gross profit 48.6% 48.0% 47.1%
Operating costs 23,047 29,634 17,761
Operating profit 
before goodwill 
amortisation 7,053 8,181 3,057
Operating profit 11.4% 10.4% 6.9%
Introduction
My first Chairman’s statement comes at
the end of what has been undoubtedly
a momentous year for Floors 2 Go plc. 
The Company was incorporated as WC Co(8)
Limited on 9 April 2003 and changed its name
to Smart Motive Limited on 18 December 2003.
On 19 December 2003, the Company
re-registered as a public limited company
and changed its name to Smart Motive plc. 
On 25 March 2004, having acquired the
entire issued share capital of Anglo Baltic
Limited, the company undertaking the trade
of the Floors 2 Go business, the Company
was admitted to trading on AIM. On the
same date the Company changed its name
to Floors 2 Go plc.
During 2004 Floors 2 Go consolidated its
position as the leading independent retailer
of laminate and wooden flooring in the UK
and began the implementation of its five year
plan to dominate this market sector. We opened
29 stores including 17 concessions in 2004
and closed four which brought our portfolio
up to 121 by the end of 2004. This expansion
included our first move into Scotland with
47,000 sq feet of concession space in
Texstyle World, a leading home furnishings
retailer. Our plan is to build a chain of
a minimum of 350 stores with an acceleration
towards this target in 2005.
Financial performance
The financial performance in 2004 was
extremely satisfying. As the acquisition of
Anglo Baltic Limited occurred on 25 March 2004,
these accounts comprise the nine months
trading period of the acquired activities to
31 December 2004. Sales for the nine months
ended 31 December 2004 were £61.97m and
resulted in an operating profit before goodwill
amortisation of £7.05m. Goodwill amortisation
and interest accounted for £1.84m, producing
a profit before tax of £5.21m. The tax charge
of £1.53m represents 29.5% of pre tax profits,
a rate which we consider sustainable
in future years.
Earnings per share for the nine month period
was 2.80p with 2.79p on a diluted basis.
I am pleased to report that your board will
be recommending a maiden dividend of
1.00p payable on 27 May 2005.
I think it is important to give shareholders
a fuller appreciation of our performance
to outline our results on a pro forma basis
for the full 12 months. The 2003 actual
comparatives are for Anglo Baltic Limited
for the year ended 31 December 2003.
These figures clearly indicate the strong
financial progress that Floors 2 Go has made.
The 2004 pro forma figures exclude the
impact of any adjustments arising from the
acquisition of the business and consist of
three months trading of Anglo Baltic Limited
and nine months trading post acquisition.
Finally, I would like to state the Company’s
corporate objective, which is to “Create
a highly focused retail chain which will lead
the laminate and wooden floor retailer sector
by providing a range of products in breadth
and quality which will be unsurpassed.
This dedication to quality and service whilst
providing value for money should provide a
financial return which will allow upper quartile
earnings and thereby dividend growth”.
Roy Gabbie
Chairman
Chairman’s Statement
Floors 2 Go plc Annual report and financial statements 2004 2
“The financial performance in 2004 was 
extremely satisfying.”
_1F2G_arf04.qxd  14/04/2005  12:53  Page 2 In the period under review the Group has
commenced the implementation of its strategy
to become the dominant retailer of laminate
and wooden flooring within the UK. Total
stores trading at 31 December 2004 stood
at 121, a net increase of 25 over the year. 
Financial performance
As the acquisition of Anglo Baltic Limited
occurred on 25 March 2004, these accounts
comprise the nine months trading period of
the acquired activities to 31 December 2004.
The figures referred to in my review relate
to the twelve month pro forma figures for the
Group. Comparison of these figures to those
for the year ended 31 December 2004 has
been included in the Chairman’s report.
Sales growth has been buoyant in 2004.
The Group achieved a like for like sales
increase of 22.9%, with overall sales up by
78.3% (£44.2m in 2003 to £78.8m in 2004),
based on the proforma results, for the 12 months
to 31 December 2004. This growth compares
favourably with an estimated market growth
of 13%, thus indicating gains in market share
and further consolidating our position
as market leader.
Gross margin improved by 0.9% (2003: 47.1%,
2004: 48.0%). This resulted from improved
purchasing power due to volume growth,
better negotiation with suppliers and increased
sales of accessories which produce higher than
average margins. In addition the final quarter
benefited from newly introduced supplier
rebate schemes. Such schemes will be a focus
of supplier negotiation in 2005 and should
lead to further gross margin enhancement.
Operational review
In December 2004 the Group acquired
the leasehold of a new warehouse facility
in Oldbury, situated next to the M5 motorway.
This will give the Group the necessary capacity
needed for our stated target of 350 stores
in the UK. The warehouse will officially open
in April 2005.
Focus on our stockholding and improved
management information enabled the
company to reduce its stockholding days
to 86 (2003: 89) and we will continue our
efforts to improve this further.
The business has a history of cost efficiency
and effectiveness, and operating costs in the
year represented 36.57% of sales compared
with 40.22% for the same period in 2003.
We will be no different going forward in that
we will keep costs to a minimum, and strive
to increase productivity.
Market position
The total laminate and wood flooring market
is estimated to be valued at £353 million,
excluding accessories, in the United Kingdom,
and Floors 2 Go’s share of this is approximately
16.5% (Source: AMA research).
The United Kingdom market is forecast to
grow at a minimum compound rate of 8% per
annum between 2005 and 2009 and we will
continue to exploit such growth by opening
new stores and consolidating further the
market position of our established portfolio.
The growth has been helped by greater
popularity in wood and laminate flooring
in that it is cost effective, easier to fit and more
hygienic than other flooring types. The increased
number of TV homestyle and DIY programmes,
coupled with the Group’s intensive media
advertising has reinforced this message,
bringing good results.
Our strengths that differentiate ourselves from
our competitors are as follows:
 Specialist product knowledge of our
in-store staff.
 Customer service.
 Stock breadth, availability and quality.
 Location of stores – 121 nationwide in
prime locations.
 Competitive pricing – we are the only laminate
retailer that buys direct from manufacturers,
rather than through distributors.
 Repeat business and recommendations
represent 40% of sales.
The strategy of the Group is broken down over
four key areas:
 To continue to take market share from our
competitors, whilst opening stores throughout
the UK. We have 121 stores open currently
and aim to grow to 350 stores long-term.
Our target for 2005 is 25 new stores.
 To continue to provide excellent value,
service (before, during and post sale) to
our customers. Our level of repeat business
is something we are extremely proud of.
 To improve profitability by increased sales,
increased gross margin, and cost reduction
and control, which should invariably
increase shareholder value.
 To maintain the high calibre of staff employed
by the Group, whilst ensuring that as
we expand, new recruits will also meet
our high standards. Training is key in
the Group, and we are currently working
towards the Investor In People accreditation.
Finally I would like to take this opportunity
in thanking all of our employees, suppliers
and advisors for their support and hard work
during the year.
I would also like to thank our customers for
their loyalty in choosing Floors 2 Go and hope
they continue to do so in the future.
Simon Farnsworth
Chief Executive
Chief Executive’s Review
Floors 2 Go plc Annual report and financial statements 2004 3
“In the period under review the Group has commenced
the implementation of its strategy to become the
dominant retailer of laminate and wooden flooring
within the UK.”
_1F2G_arf04.qxd  14/04/2005  12:54  Page 3 At Floors 2 Go corporate social responsibility
is extremely important.
We employ the best people for the positions 
at Floors 2 Go, regardless of age, gender or
race, and try to employ local people if possible.
Health and Safety is paramount to us. We have
a department dedicated to Health and Safety
in our stores, and are constantly updating our
procedures and training programmes.
The environment is obviously an important issue
to us, as wooden flooring is the nature of our
business. We ensure that all of our suppliers
source their wood from sustainable sources,
and are certificated by the appropriate
bodies, such as the Programme for the
Endorsement of Forest Certification Schemes
and the Forest Stewardship Council.
Environment
The Group purchases goods for resale from
suppliers based in the U.K. and direct from
manufacturers around the world. The Group
endeavours to ensure that the suppliers of our
goods provide reasonable working standards
and do not contravene the employment laws
of their country. The Company visits all of its
suppliers on a regular basis. 
Health and safety
The Group ensures, as far as is reasonably
practicable, that a safe and healthy workplace
and working environment is provided for all its
employees to a standard which is at least as
high as that required by law.
Employees
The Group applies policies that do not
discriminate on grounds of race, age,
disability, sex or religion and which provide
good opportunities for disadvantaged sections
of the community.
Applications for employment by disabled
persons are welcomed and are always fully
considered, bearing in mind the respective
aptitudes and abilities of the applicants
concerned. In the event of members of staff
becoming disabled, every effort is made to
ensure that their employment with the Group
continues and that appropriate training is
arranged. It is the policy of the Group that the
training, career development and promotion 
of disabled persons should, as far as possible,
be identical to that of other employees.
Corporate and Social Responsibility
Floors 2 Go plc Annual report and financial statements 2004 4
“At Floors 2 Go, corporate social responsibility 
is extremely important.”
_1F2G_arf04.qxd  14/04/2005  12:54  Page 4 a
M Abowath
A Acton
A Adair
R Adlington
H Ager
N Ahmed
I Ahmed
RW Ahmed
F Ahmed
S Akhtar
S Ali
T Ali
M Ali
P Allan
M Allcock
J Allen
R Allen 
R Amoah
R Anderson
R Argyle
B Armando
N Asgar
M Ashton
S Astley
AD Atkinson
A Avdiu
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M Badhen
AF Bannatyne
R Bansal
M Barber
E Barclay
DB Barley
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J Beard
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TJ Bell
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IM Bowker
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T Bradshaw
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c
C Cahill
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MD Clarke
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SP Crawford
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D Dale
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SA Hales
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JG James 
GP Janardhanan
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W Johnson sr.
MB Jones
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MP Jones
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RO Jones
M Joshi
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C Keightley
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GA Kelly
T Kennedy
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MA Khaliq
S Khan
C Kidd
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M Kilbride
T Killingworth
M Kirkham
B Kitchin
G Kordalli
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Z Kozlowski
L Kpabitey
P Krusinski
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R Kumar
N Kumar
R Kweli
SM Kyte
l
J Lamkin
P Lamont
AW Lamont
AG Lamont sr.
C Lassauzet
C Latham
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P Lee
S Leeder
ME Lees
B Lees
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RJ Lewis
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SR Leyshon
M Linnane
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C Livesey
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T Lunnon
JC Lynch
B Lyons
m
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RM MacGregor
J MacColl
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I Maloney
CS Mann
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P Manning
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J Martin
W Mason
A Matthews
L Mayfield
B McCallum
N McCann
D McDermott
L McDonald
A McGhie
J McHale
CJ McInally
O McKayle
CL McKeen
A McKinley
E McLelland
R Mcbride
N Mcinnes
K Mcmillan
N Meese
S Meese
S Megver
J Merry
D Merry
S Miah
R Mianger
C Middleton
J Minto
N Mitchell
G Mitchell
S Mitchell 
H Mohammed
K Mooney
P Moore
S Moran
GD Morris
H Morrison
S Morton
P Mottram
M Mughal
M Mughal
LL Muir
A Muir
B Mujikwa
R Munday
N Murray
B Muwonge
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A Nabi
M Naidoo
C Ndewere
S Neal
G Neale
D Ness
MJ Neville
T Nicholls
GA Nicholson
A Nicholson
C Nicol
A Nicolson
K Nock
FJ Nonyenu
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A O’Donnell
R O’Donnell
L Oakes
S O’Driscoll
K Ofosu-Asare
D Okoe
A Omar
KH Ono
R Osbourne
T Oshinowo
L Overton
S Owen
K Owusu Ansah
p
K Pacey
D Palin
C Palmer
E Palmer
PL Pankhania
C Papworth
N Parekh
A Parker 
M Parkinson
SK Parmar
JW Parry 
S Patel
G Paterson
A Patterson
CM Payne
I Pexton
PJ Phillips
J Pitts
WJ Plant
D Potter
K Pradhan
K Preece
SR Preston
D Priestley
AJ Pring
N Proctor
KD Prychodko
SJ Purchase
q
P Quinn
r
A Rafiq
JH Raja
K Rallison
D Rand
H Randerwala
H Randerwala
L Rapson
S Rawlings
D Redley
J Rees
P Renwick
L Revill
NS Rhodes 
K Richardson
S Robbins
K Robertson
DJ Robinson
W Robinson
A Robson
D Roe
A Rogers
SP Rosaman
MA Rumble
LM Rushby
L Russon
C Ryrie
s
G Saliba
M Sanchis
A Sandhu
K Sandhu
P Sangha
D Savage
G Scott
P Sealy
AT Shah
A Shakir
NA Share
M Share
S Sharpe
H Shears
P Shelton
K Sheridan
S Shilton
M Shortland
M Simmons
R Simpkins
C Singh
G Singh
G Slade
D Slater
D Smith
B Smith
P Smith
D Smith  
G Smithson
W Snape
S Stack
S Stafford
B Stansfield
S Statham
S Stephen
KA Stephens
WT Stephens
JD Stevens
S Steventon
T Stewart
C Stirling
D Stokoe
B Stone
L Sturgess
EL Sutton
M Sutton
K Sutton
D Sutton
D Swift
t
A Taggart
TJ Talbot
A Taylor
P Taylor
E Taylor
T Taylor
DJ Thane
CD Theron
S Thomas
J Thomas
C Thompson
M Thompson
GO Thorn
P Thorning
A Tolley
M Totney
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R Turner
S Turner
I Turton
AD Tuttle
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AN Uddin
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R Vadher
D Varley
S Varma
SL Varney
JP Vaughan
P Vickers
DJ Vizor
L Vuma
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J Walker
D Ward
N Wardlaw
S Waters
J Watson
G Waveerley
S Webb
M Wheeler
P Whitby
C White
K White
DL Whitehead
LT Whitehouse
JL Whittaker
DP Whittaker
D Wilcox
J Williams
MS Williams
M Wilson
C Winger
D Winspur
A Winwood
M Wobidike
J Wood
S Wood
SJ Worsey
K Wright
G Wright
y
D Young
MI Young
z
T Zarelli
A Zeneli
Staff Names
Floors 2 Go plc Annual report and financial statements 2004 5
“I would like to take this opportunity in thanking all of our employees for their
support and hard work during the year.”
_1F2G_arf04.qxd  14/04/2005  12:54  Page 5 Floors 2 Go plc Annual report and financial statements 2004 6
a
Aberdeen (in Texstyle World)
Ashton-Under-Lyne
Ayr (in Texstyle World)
b
Barnsley
Basildon
Basingstoke
Birmingham (Bristol Street)
Birmingham (Erdington)
Birmingham (Halesowen)
Birmingham (Newtown Row/A34)
Birmignham (Quinton)
Birmingham (Sheldon)
Birmingham (Shirley)
Birmingham (Sparkhill)
Birmingham (Sutton Coldfield)
Blaydon
Bolton
Bradford (Busfield Street)
Bradford (Manningham Lane)
Bristol (Gloucester Road)
Bristol (Winterstoke Road)
Bromborough
Burnley
Burton-on-Trent
Bury
c
Cambridge – Opening Saturday 9th April
Cannock
Cardiff (Colchester Avenue)
Cardiff (Cowbridge Road)
Chester
Chesterfield
Coventry
Crewe
d
Derby (Mount Street)
Derby (Stores Road)
Dewsbury
Dudley (Birmingham Road)
Dudley (Merry Hill)
Dumfries (in Texstyle World)
Dunfermline (in Texstyle World)
e
Edinburgh (Straiton in Texstyle World)
Elgin (in Texstyle World)
Exeter
f
Falkirk (in Texstyle World)
g
Glasgow (Bishopbriggs in Texstyle World)
Glasgow (Clydebank in Texstyle World)
Glasgow (Motherwell in Texstyle World)
Glasgow (Renfrew in Texstyle World)
Glasgow (Uddingston in Texstyle World)
Gloucester
Grantham
Grimsby
h
Halifax
Hereford
Hull (Hessle Road)
Hull (Stone Ferry Road)
i
Inverness (in Texstyle World)
Ipswich
Irvine (in Texstyle World)
k
Keighley
Kidderminster
Kilmarnock (in Texstyle World)
l
Leeds
Leeds (Birstall)
Leicester (Abbey Lane)
Leicester (Brougham Street)
Lincoln
Liverpool
London (Brixton)
London (Croydon)
London (Ilford)
London (Peckham)
London (Wembley)
Loughborough
m
Manchester (Cheetham Hill)
Manchester (Salford)
Manchester (Stretford)
Mansfield
Milton Keynes
n
Newport
Norwich
Nottingham (Castle Boulevard)
Nottingham (Huntingdon Street)
Nottingham (Kimberley)
o
Oldham
Oxford
p
Paisley
Peterborough
Poole
Portsmouth
Plymouth
Preston
r
Reading
Rotherham
s
Sheffield (Hillsborough)
Sheffield (Meadowhall)
Sheffield (Old Forge Business Park)
Slough
Southampton
South Shields
Stirling (in Texstyle World)
Stockport (Hempshaw Lane)
Stockport (Lancashire Hill)
Stockton-on-Tees
Stoke-on-Trent
Stratford-upon-Avon
Sunderland
Swansea (Pheonix Business Park)
Swansea (Cwmdu Industrial Estate)
Swindon
t
Telford
w
Wakefield
Walsall (Ward Street)
Walsall (Green Lane)
Warrington
Wellingborough
Widnes
Wigan
Wigston
Winchester
Wolverhampton (Bilston in "Our Place")
Wolverhampton (Bilston Road)
Wolverhampton (Birmingham Road)
Wolverhampton (Fox’s Lane)
Worcester
Wrexham
Store Locations 
125 stores opened as of 1 April 2005
_1F2G_arf04.qxd  14/04/2005  12:54  Page 6 Roy Gabbie, aged 51
Non-executive Chairman
From 1975, Roy developed a retail
chain of 33 drug stores in the North
West of England named Beautycare
which he sold to Lloyds Chemist Plc
in 1988. From 1988 he incorporated
and developed Stationery Box Limited
into a retail chain of 112 high street
stationery stores throughout the UK.
He sold the company to a management
buy out backed by PRICOA (a US
based venture capitalist company)
in 1998. He also formed USI Limited,
a company which has grown
significantly and distributes goods
to major store groups. 
Simon Farnsworth, aged 33
Chief Executive Officer
Simon qualified as a chartered
management accountant in 1996
and has held senior management
positions with Interlink Express Parcels
Limited, Finelist Group plc and Smiths
Group plc. He joined Floors 2 Go
in May 2002 as Finance Director
and has been a key figure in helping
to achieve the rapid growth in Floors
2 Go to date. He has been responsible
for all aspects of finance, purchasing
and logistics and areas of stock loss
prevention and profit protection. 
Edward Taylor, aged 36
Finance Director
Eddie joined the board on 1 August
2004 from Saint-Gobain. Since
qualifying as a chartered management
accountant in 1995, Eddie has held
a number of financial positions within
Meyer International plc, who were
acquired by Saint-Gobain in March
2000. His two most recent positions
being Finance Director of International
Decorative Surfaces, one of the UK’s
leading distributors of laminate and
wooden flooring and Finance Director
of Saint-Gobain Tile Group, the largest
distributor of Ceramic Tiles in the UK. 
Colin Davies, aged 45
Non-executive Director
Colin has acted as a chief executive
and finance director of both public
and private companies in a range of
industries including food, engineering,
marketing and textiles. He is currently
a non-executive director of Inter Link
Foods Plc which he co-founded. He
has been responsible for co-ordinating
the acquisition strategy of Inter Link
Foods Plc. Colin is also a non-executive
director of several private companies.
Keith Salisbury, aged 36 
Non-executive Director
Keith qualified as a chartered
accountant with Arthur Andersen and
is a Member of the Securities Institute.
Keith worked at the corporate finance
division of Brewin Dolphin Securities
Limited acting for many publicly quoted
and private companies on all types
of corporate finance transactions across
a range of sectors including IPOs,
secondary offerings, acquisitions,
disposals and public to private deals.
Keith is a partner of Zeus Partners
and a director of Zeus Capital Limited
which is an FSA regulated company
providing corporate finance advice. 
Keith Pacey Bsc. Phd., aged 54
Non-executive Director
Keith is the non-executive chairman
of Maplin Electronics Ltd, and
DC Leisure Ltd; and is a non-executive
director of Jane Norman Ltd. He began
his working life as a coal miner
in South Yorkshire before spending
several years as an academic and
then moving on to a business career
of nearly thirty years. During that
time he has held senior positions in
manufacturing, distribution, marketing
and sales across a wide range of
industries. For the past six years he
has been running Maplin Electronics,
a fast growth retailer.
Board of Directors and Corporate Advisors
Floors 2 Go plc Annual report and financial statements 2004 7
Secretary
E Taylor
Registered office
74 Newtown Row
Birmingham B6 4HA
Auditors
Ernst & Young LLP
No.1 Colmore Square
Birmingham B4 6HQ
Bankers
HSBC
31 Granby Street
Leicester LE1 3EP
Nominated adviser and broker
Numis Securities Limited
Cheapside House
138 Cheapside
London EC2V 6LH
Registrar
Neville Registrars
Neville House
18 Laurel House
Halesowen
West Midlands B63 3DA
_1F2G_arf04.qxd  14/04/2005  12:54  Page 7 The Directors present their report and Group financial statements for the year ended
31 December 2004. 
Principal activities and review of the business
The principal activity of the Group is the retailing of laminate and wooden flooring and
associated products.
A detailed review of the year’s operations are given in the Chairman’s Statement.
Results and dividends
The Group profit for the year ended 31 December 2004 amounted to £3,671,000 (2003: £Nil).
As the acquisition of Anglo Baltic Limited occurred on 25 March 2004, these accounts comprise
the nine months trading period of the acquired activities to 31 December 2004.
The Board is recommending a dividend of 1p per share payable on 27 May 2005.
Significant developments
The Company was incorporated as WC Co(8) Limited on 9 April 2003 and changed its name
to Smart Motive Limited on 18 December 2003. On 19 December 2003, the Company
re-registered as a public limited company and changed its name to Smart Motive plc.
On 9 March 2004 the Company raised £3.5m (before expenses) by the issue of shares under
an offer for subscription. On 24 and 25 March further shares were issued and on 25 March 2004
the Company acquired the entire issued share capital of Anglo Baltic Limited, the company
undertaking the trade of the Floors 2 Go business.
On 1 April 2004 the Company issued further shares and the Company’s shares were admitted
to trading on AIM. On the same day the Company changed its name to Floors 2 Go plc.
Further details regarding the issue of shares are set out in note 19.
Directors
S Farnsworth (appointed 25 March 2004)
R Gabbie (appointed 25 March 2004)
E Taylor (appointed 1 August 2004)
C Davies (appointed 17 March 2004)
K Salisbury (appointed 17 March 2004)
N Molyneux (resigned 17 March 2004)
R Hughes (resigned 17 March 2004)
B Bodek (appointed 25 March 2004, resigned 2 September 2004)
K Pacey (appointed 2 September 2004)
The respective interests of the Directors in the share capital and options to subscribe for share
capital in the Company are given in the Directors’ Remuneration Report.
Substantial shareholdings
The Directors have been notified of the following holdings in addition to their own in excess
of three per cent of the issued share capital of the Company as at 28 February 2005:
Shareholding No. of
% shares
Ian William Currie 10.87 14,229,777
Fidelity Investments 9.85 12,898,010
Jupiter Asset Management 8.64 11,310,000
Colin Davies 7.87 10,301,306
William Alan McClue 6.47 8,476,317
Richard Ian Hughes 6.01 7,868,927
Claire Hughes Settlement 4.29 5,621497
Share capital and share options
Details of changes in share capital and share options are given in note 19 to the accounts.
Directors’ Report
Floors 2 Go plc Annual report and financial statements 2004 8
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 8 Employment standards
The Group ensures, as far as is reasonably practicable, that a safe and healthy workplace and
working environment is provided for all its employees to a standard which is at least as high as
that required by law.
The Group purchases goods for resale from suppliers based in the U.K. and direct from manufacturers
around the world. The Group endeavours to ensure that the suppliers of our goods provide
reasonable working standards and do not contravene the employment laws of their country.
The Group applies policies that do not discriminate on grounds of race, age, disability, sex
or religion and which provide good opportunities for disadvantaged sections of the community.
Applications for employment by disabled persons are welcomed and are always fully considered,
bearing in mind the respective aptitudes and abilities of the applicants concerned. In the event
of members of staff becoming disabled, every effort is made to ensure that their employment with
the Group continues and that appropriate training is arranged. It is the policy of the Group that
the training, career development and promotion of disabled persons should, as far as possible,
be identical to that of other employees.
Employee involvement
The Group has a policy of providing employees with information about the Group and regular
meetings are held between management and employees to allow a free flow of information and
ideas. A regular newsletter is produced to keep all employees updated with developments within
the Group.
Creditor payment policy and practice
It is the Group’s policy that payments to suppliers are made in accordance with those terms
and conditions agreed between the Group and its suppliers, provided that all trading terms
and conditions have been met.
The effect of the Group’s negotiated payment policy is that trade creditors at the year end
represent 56 days’ purchases (2003: Nil).
Auditors
Ernst & Young LLP were appointed as auditors during the year. A resolution to reappoint
Ernst & Young LLP as auditors will be proposed at the forthcoming Annual General Meeting.
Directors’ responsibilities in respect of the financial statements
Company law requires the Directors to prepare accounts for each financial year, which give a true
and fair view of the state of affairs of the Company and the Group and of the profit or loss of the
Group for that year. In preparing those accounts, the Directors are required to:
 select suitable accounting policies and then apply them consistently;
 make judgements and estimates that are reasonable and prudent;
 state whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements; and
 prepare the accounts on the going concern basis unless it is inappropriate to presume that
the Company will continue in business.
The Directors are responsible for keeping proper accounting records which disclose with reasonable
accuracy at any time the financial position of the Group and the Company and to enable them
to ensure that the accounts comply with the Companies Act 1985. They are also responsible
for safeguarding the assets of the Group and hence for taking reasonable steps for the prevention
and detection of fraud and other irregularities.
On behalf of the Board
E Taylor
Finance Director
14 March 2005
Floors 2 Go plc Annual report and financial statements 2004 9
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 9 The Group supports the concept of an effective Board leading and controlling the Group and
a brief outline of the role of the Board and its Committees, together with the Group’s systems
of internal financial controls, which the Board will continue to keep under review, is given below.
The Board
The Board is made up of the Non-executive Chairman, the Chief Executive, the Finance Director
and three other Non-executive Directors. Their biographies appear on page 7 and details of the
membership of the Committees of the Board are given on this page.
In order to ensure that the Directors can properly carry out their role, the members of the Board
are provided with high quality information and financial details prior to all Board meetings.
The Board meets monthly throughout the year to discuss and decide the Group’s business and
strategic decisions. In addition, there is a high degree of contact between Board meetings to
ensure all Directors are aware of the Group’s business.
Internal controls
The Board acknowledges its overall responsibility for ensuring that the Group has a system of
internal controls in place that is appropriate. However, shareholders should be mindful that any
system can only provide reasonable, not absolute assurance against material misstatement or loss
and is designed to manage but not eliminate the risk of failure to achieve business objectives.
The key procedures are:
 preparation of annual budgets for all the business, reviewed by executive management and
subject to Board approval;
 monthly review of sales, cash and profitability compared with budget; and
 monthly operations and board meetings where key risk areas are reviewed and discussed.
Store control environment
Operating procedures for control of store operations are clearly documented and set out in operation
manuals. Senior operational managers are responsible for the implementation of these procedures
and compliance is monitored.
The Audit Committee
Responsibility for the Group’s internal controls rests with the Board. The Audit Committee
is responsible for ensuring that the corporate governance is implemented in respect of matters
relating to the Group’s external audit. The Committee comprises of three Non-executive Directors
and is chaired by C Davies. In addition, the Committee considers the appointment and the fees
of the external auditors.
The Audit Committee met with the external auditors during August 2004 and February 2005
to discuss their audit findings.
Communications with shareholders
The Group places a high level of importance on communicating with its shareholders.
The Company publishes an interim report and will provide an opportunity at its Annual General
Meeting (“AGM”) for shareholders to ask the Chairman questions. Shareholders are welcome
to send in questions in advance of the AGM.
Going concern
After making enquiries, the Directors have formed a judgement at the time of approving the financial
statements that there is a reasonable expectation that the Group has adequate resources to continue
in operational existence for the foreseeable future. For this reason, the Directors continue to adopt
the going concern basis in preparing the financial statements.
International Financial Reporting Standards (“IFRS”)
Compliance with IFRS has been deferred for AIM listed companies and the Group currently expects
IFRS to impact on its financial statements for the year ended 31 December 2007, with a transition
date of 1 January 2006. The Group has made progress in assessing the impact of IFRS.
Corporate Governance
Floors 2 Go plc Annual report and financial statements 2004 10
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 10 Directors’ Remuneration
The Board recognises that Directors’ Remuneration is of legitimate concern to the shareholders
and is committed to following current best practice. The Company operates within a competitive
environment; performance depends on the individual contributions of the Directors and employees
and it believes in rewarding vision and innovation.
Policy on Executive Directors’ Remuneration
The policy of the Board is to provide executive remuneration packages designed to attract, motivate
and retain Directors of the calibre necessary to maintain and improve the Group’s position and
to reward them for enhancing shareholder value and return. It aims to provide sufficient levels
of remuneration to do this, but avoid paying more than is necessary. The remuneration will also
reflect the Directors’ responsibilities and contain incentives to deliver the Group’s objectives.
A separate Remuneration Committee has been established comprising of the Non-executive Chairman,
R Gabbie, and two of the Non-executive Directors.
Audited information
(i) Directors remuneration
The remuneration of the Directors was as follows (for the nine months trading period):
Performance Contributions
Salary related to private Benefits Total
and fees bonus pension in kind 2004
£’000 £’000 £’000 £’000 £’000
Executive Directors
S Farnsworth 75 100 12 15 202
E Taylor 31 21 3 2 57
Non-executive Directors
R Gabbie 23——— 23
K Salisbury 15——— 15
K Pacey 7——— 7
C Davies 10——— 10
B Bodek 8——— 8
169 121 15 17 322
In addition B Bodek received an ex-gratia payment of £7,000 as compensation for loss of office.
(ii) Interests in share capital
The respective beneficial interests of each of the Directors in the Company’s ordinary shares as at
the balance sheet date were as follows:
At At 
31 December Upon 31 December 
2003 appointment 2004
S Farnsworth — — 2,083,333
E Taylor — — —
R Gabbie — — 1,458,333
K Salisbury — 3,456,010 3,456,010
K Pacey — — 539,667
C Davies — 10,301,306 10,301,306
B Bodek (resigned September 2004) — 104,000 104,000
Directors’ Remuneration Report 
Floors 2 Go plc Annual report and financial statements 2004 11
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 11 Audited information continued
(iii) Interest in share options
The Directors’ respective interests in options over the Company’s ordinary shares are as follows:
No. of No. of 
options Options Options options
31 December granted exercised 31 December
2003 No. No. 2004
S Farnsworth
EMI share scheme (exercise price 0.5p) — 2,083,333 2,083,333 —
EMI share scheme (exercise price 56.5p) — 62,500 — 62,500
Unapproved share scheme (exercise price 48p) — 1,177,082 — 1,177,082
E Taylor
EMI share scheme (exercise price 56.5p) — 62,500 — 62,500
Unapproved share scheme (exercise price 48p) — 187,500 — 187,500
R Gabbie
Unapproved share scheme (exercise price 0.5p) — 1,250,000 1,250,000 —
On 9 March 2004, prior to flotation of the Company’s shares on AIM, S Farnsworth was granted
2,083,333 share options, by another shareholder under the EMI share scheme, at a grant price
of 0.5p, with no performance criteria. These were exercised on 10 May 2004, when the share price
was 70p, generating a gain of £1,448,000. Under the terms of these options, subject to certain
conditions, S Farnsworth is required to retain ownership of the shares for a period of two years
from the date of exercise.
Also on 9 March 2004, R Gabbie was granted 1,250,000 share options, by another shareholder
under the unapproved share scheme, at a grant price of nil, with no performance criteria.
These were exercised on 17 November 2004, when the share price was 58.5p, generating
a gain of £731,000. Under the terms of these options, subject to certain conditions, R Gabbie
is required to retain ownership of the shares for a period of two years from the date of exercise.
The market price of the Company’s shares at 31 December 2004 was 85.5p. During the year the
highest market price of the Company’s shares was 96.5p and the lowest was 50.5p, having floated
on 1 April 2004 at 48p.
Directors’ Remuneration Report continued
Floors 2 Go plc Annual report and financial statements 2004 12
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 12 We have audited the Group’s financial statements for the year ended 31 December 2004 which
comprise the Consolidated Profit and Loss Account, Consolidated Balance Sheet, Company Balance
Sheet, Consolidated Cash Flow Statement, and the related notes 1 to 24. These financial statements
have been prepared on the basis of the accounting policies set out therein. We have also audited
the information in the Directors’ Remuneration Report that is described as having been audited.
This report is made solely to the Company’s members, as a body, in accordance with Section 235
of the Companies Act 1985. Our audit work has been undertaken so that we might state to the
Company’s members those matters we are required to state to them in an auditors’ report and for
no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility
to anyone other than the Company and the Company’s members as a body, for our audit work,
for this report, or for the opinions we have formed.
Respective responsibilities of Directors and auditors
The Directors are responsible for preparing the Annual Report, including the financial statements which
are required to be prepared in accordance with applicable United Kingdom law and accounting
standards as set out in the Statement of Directors’ Responsibilities in relation to the financial statements.
Our responsibility is to audit the financial statements and the part of the Directors’ Remuneration
Report to be audited in accordance with relevant legal and regulatory requirements, United Kingdom
Auditing Standards.
We report to you our opinion as to whether the financial statements give a true and fair view and
whether the financial statements and the part of the Directors’ Remuneration Report to be audited
have been properly prepared in accordance with the Companies Act 1985. We also report to
you if, in our opinion, the Directors’ Report is not consistent with the financial statements, if the
Company has not kept proper accounting records, if we have not received all the information
and explanations we require for our audit, or if information specified by law regarding Directors’
Remuneration and transactions with the Group is not disclosed.
We read other information contained in the Annual Report and consider whether it is consistent
with the audited financial statements. This other information comprises the Directors’ Report,
un-audited part of the Directors’ Remuneration Report, Chairman’s Statement, and Corporate
Governance Statement. We consider the implications for our report if we become aware of any
apparent misstatements or material inconsistencies with the financial statements. Our responsibilities
do not extend to any other information.
Basis of audit opinion
We conducted our audit in accordance with United Kingdom Auditing Standards issued by the
Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to
the amounts and disclosures in the financial statements and the part of the Directors’ Remuneration
Report to be audited. It also includes an assessment of the significant estimates and judgements
made by the Directors in the preparation of the financial statements, and of whether the accounting
policies are appropriate to the Group’s circumstances, consistently applied and adequately disclosed.
We planned and performed our audit so as to obtain all the information and explanations which
we considered necessary in order to provide us with sufficient evidence to give reasonable assurance
that the financial statements and the part of the Directors’ Remuneration Report to be audited are
free from material misstatement, whether caused by fraud or other irregularity or error. In forming
our opinion we also evaluated the overall adequacy of the presentation of information in the
financial statements and the part of the Directors’ Remuneration Report to be audited.
Opinion
In our opinion:
 the financial statements give a true and fair view of the state of affairs of the Company and of
the Group as at 31 December 2004 and of the profit of the Group for the year then ended; and
 the financial statements and the part of the Directors’ Remuneration Report to be audited have
been properly prepared in accordance with the Companies Act 1985.
Ernst & Young LLP
Registered Auditor
Birmingham
14 March 2005
Independent Auditors’ Report 
to the members of Floors 2 Go plc
Floors 2 Go plc Annual report and financial statements 2004 13
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 13 2004
(9 months
trading)
Notes £’000
Turnover – acquired activities 2 61,972
Cost of sales (31,872)
Gross profit 30,100
Distribution costs (1,310)
Administrative expenses (22,747)
Operating profit – acquisitions 3 6,043
Operating profit before goodwill amortisation 7,053
Goodwill amortisation (1,010)
Bank interest receivable 4 43
Interest payable and similar charges 5 (881)
Profit on ordinary activities before taxation 5,205
Taxation 7 (1,534)
Profit on ordinary activities after taxation 3,671
Dividends 9 (1,309)
Retained profit for the year 21 2,362
Earnings per share – basic 10 2.80p
– diluted 10 2.79p
There are no recognised gains or losses other than the profit for the financial period. Accordingly,
no separate Statement of Total Recognised Gains and Losses is presented.
The Company was dormant in the period ended 31 December 2003, and accordingly
no comparatives are presented.
Consolidated Profit and Loss Account
for the year ended 31 December 2004
Floors 2 Go plc Annual report and financial statements 2004 14
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 14 2004 2003
Notes £’000 £’000
Fixed assets
Intangible assets 11 25,918 —
Tangible assets 12 4,963 —
30,881 —
Current assets
Stocks 9,917 —
Debtors 14 2,763 37
Cash 1,979 13
14,659 50
Creditors: amounts falling due within one year 15 (21,623) —
Net current (liabilities)/assets (6,964) 50
Total assets less current liabilities 23,917 50
Creditors: amounts falling due after more than one year 16 (8,268) —
Provisions for liabilities and charges 19 (802) —
14,847 50
Capital and reserves
Called up share capital 20 655 50
Share premium account 21 11,830 —
Profit and loss account 21 2,362 —
Shareholders’ funds:
Equity 14,847 —
Non-equity — 50
21 14,847 50
S Farnsworth E Taylor
Chief Executive Finance Director
14 March 2005 14 March 2005
Consolidated Balance Sheet
as at 31 December 2004
Floors 2 Go plc Annual report and financial statements 2004 15
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 15 2004 2003
Notes £’000 £’000
Fixed assets
Intangible assets 11 8,190 —
Tangible assets 12 4,963 —
Investments 13 28,584 —
41,737 —
Current assets
Stocks 9,917 —
Debtors 14 2,763 37
Cash 1,979 13
14,659 50
Creditors: amounts falling due within one year 15 (33,492) —
Net current (liabilities)/assets (18,833) 50
Total assets less current liabilities 22,904 50
Creditors: amounts falling due after more than one year 16 (8,268) —
Provisions for liabilities and charges 19 (802) —
13,834 50
Capital and reserves
Called up share capital 20 655 50
Share premium account 21 11,830 —
Profit and loss account 21 1,349 —
Shareholders’ funds:
Equity 13,834 —
Non-equity — 50
Total equity shareholders’ funds 21 13,834 50
S Farnsworth E Taylor
Chief Executive Finance Director
14 March 2005 14 March 2005
Company Balance Sheet
as at 31 December 2004
Floors 2 Go plc Annual report and financial statements 2004 16
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 16 2004 2003
Notes £’000 £’000
Net cash inflow from operating activities 23(a) 10,927 —
Returns on investments and servicing of finance 
Interest received 43 —
Interest paid (844) —
Debt issue costs (250) —
(1,051) —
Taxation
Corporation tax paid (1,644) —
(1,644) —
Capital expenditure and financial investment 
Acquisition of fixed assets (1,950) —
Proceeds from disposal of fixed assets 18 —
Net cash outflow from capital expenditure (1,932) —
Acquisition
Payment to acquire Anglo Baltic Ltd including transaction costs (24,499) —
Net cash acquired with Anglo Baltic Ltd 673 —
Net cash outflow from acquisition (23,826) —
Cash outflow before financing (17,526) —
Financing
Share capital issued less costs 8,400 13
Hire purchase repayments (1,008) —
New bank loan 15,000 —
Repayment of bank loan (2,850) —
Repayment of redeemable shares (50) —
Net cash inflow from financing 19,492 13
Increase in cash in the year 23(c) 1,966 13
Consolidated Cash Flow Statement
for the year ended 31 December 2004
Floors 2 Go plc Annual report and financial statements 2004 17
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 17 1. Accounting policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with
applicable accounting and financial reporting standards.
Basis of consolidation
The Group financial statements consolidate the accounts of Floors 2 Go plc and its subsidiary
undertakings drawn up to 31 December. Its subsidiaries are accounted for using the acquisition
method of accounting.
Accordingly, the Group profit and loss account and statement of cash flows include the results
and cash flows of its subsidiaries from the date of acquisition to the year end.
The Company acquired Anglo Baltic Limited on 25 March 2004 and the consolidated profit and
loss account reflects the trading since that date.
No profit and loss account is presented for Floors 2 Go plc as permitted by section 230 of the
Companies Act 1985.
Intangible assets – Goodwill
Goodwill arising on the acquisition of subsidiary undertakings, representing any excess of the fair
value of the consideration given over the fair value of the identifiable assets and liabilities acquired,
is capitalised and written off on a straight line basis over its useful economic life. Provision is made
for any impairment.
Intangible assets – Licences
Product licences acquired are amortised over the period of the licence. Provision is made for
any impairment.
Turnover
Turnover comprises the net amount receivable in respect of sales during the period to third parties
and excludes value added tax.
Fixed assets
All fixed assets are recorded at cost. The carrying value of tangible fixed assets are reviewed for
impairment in periods if events or changes in circumstances indicate that the carrying value may
not be recoverable.
Depreciation
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost,
based on prices prevailing at the date of acquisition, of each asset over its expected useful life,
as follows:
Leasehold land and buildings – 20% and 25% straight line
Fixtures and Fittings – 25% straight line
Motor Vehicles – 25% straight line
Expenditure on repairs and renewals is taken to the profit and loss account as incurred.
Stocks
Stocks comprise entirely of finished goods and are stated at the lower of cost and net realisable
value. Cost includes all costs incurred in bringing each product to its present location and condition.
Net realisable value is based on estimated selling price, less further costs expected to be incurred
to completion and disposal.
Notes to the Financial Statements
Floors 2 Go plc Annual report and financial statements 2004 18
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 18 1. Accounting policies continued
Taxation
UK corporation tax is provided at amounts expected to be paid using the tax rates and laws that
have been enacted or substantively enacted by the balance sheet date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed
at the balance sheet date where transactions or events have occurred at that date that will result
in an obligation to pay more, or a right to pay less tax or to receive more tax.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply
in the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.
Foreign currency
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction,
or if hedged, at the forward contract rate. Monetary assets and liabilities denominated in foreign
currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.
Any gain or loss arising from a change in exchange rates subsequent to the date of the transaction
is included as an exchange gain or loss in the profit and loss account.
Leasing commitments
Assets held under hire purchase contracts are capitalised in the balance sheet and are depreciated
over their useful lives. The capital element of future obligations under the hire purchase contracts
are included in the balance sheet.
The interest elements of the rental obligations are charged in the profit and loss account over
the periods of the hire purchase contracts and represent a constant proportion of the balance
of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over
the lease term.
Investments
Fixed asset investments are stated at cost less provision for impairment.
Pensions
Pension costs represent contributions to employees’ personal pension plans. Such contributions
are charged to the profit and loss account in the period in which they become payable.
Derivative financial instruments
The Group uses derivative financial instruments to reduce exposure to foreign exchange risk.
The Group does not hold or issue financial instruments for speculative purposes. Income and
expenditure arising on financial instruments is recognised on the accruals basis, and credited
or charged to the profit and loss account in the financial period to which it relates.
2. Turnover
Turnover, which is stated net of value added tax, represents sales to third parties.
The destination of all of the Group’s turnover was the United Kingdom.
Floors 2 Go plc Annual report and financial statements 2004 19
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 19 3. Operating profit 
2004 2003
(9 months 
trading)
£’000 £’000
This is stated after charging:
Depreciation of owned fixed assets 1,124 —
Depreciation of assets held under hire purchase contracts:
Plant and machinery 79 —
Motor vehicles 63 —
1,266 —
Amortisation of goodwill 1,010 —
Operating lease rentals – property 2,732 —
Operating lease rentals – other 165 —
Auditors’ remuneration:
Audit services 34 —
Taxation services 59 —
Included within investment in Group undertakings is £102,000 paid to the auditors for financial
due diligence and reporting accountants in respect of the acquisition of Anglo Baltic Ltd.
4. Interest receivable 
2004 2003
(9 months 
trading)
£’000 £’000
Bank interest receivable 43 —
5. Interest payable
2004 2003
(9 months 
trading)
£’000 £’000
Bank loans and overdraft 825 —
Hire purchase 19 —
Debt issue costs amortisation 37 —
881 —
Notes to the Financial Statements continued
Floors 2 Go plc Annual report and financial statements 2004 20
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 20 6. Staff costs
2004 2003
(9 months 
trading)
£’000 £’000
Wages and salaries 7,621 —
Social security costs 725 —
Pension costs 20 —
8,366 —
The average monthly number of employees (including Directors) during the year was as follows:
2004 2003
(9 months 
trading)
No No
Central functions 71 —
Branch staff 519 —
590 —
The Group operates separate defined contribution pension schemes for employees and Directors.
The assets of the scheme are held separately from those of the Group in independently administered
funds. The pension cost charge represents contributions payable by the Group to the funds and
amounted to £20,000 (2003: Nil).
7. Taxation on profit on ordinary activities
(a) Tax on profit on ordinary activities
2004 2003
(9 months 
trading)
£’000 £’000
Current tax:
UK corporation tax 1,433 —
Total current tax 1,433 —
Deferred tax:
Group deferred tax 101 —
Tax on profit on ordinary activities 1,534 —
Floors 2 Go plc Annual report and financial statements 2004 21
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 21 7. Taxation on profit on ordinary activities continued
(b) Factors affecting current tax charge
The tax assessed on the profit on ordinary activities for the year is lower than the standard rate of
corporation tax in the UK of 30%. The differences are reconciled below:
2004 2003
(9 months 
trading)
£’000 £’000
Profit on ordinary activities before tax 5,205 —
Profit on ordinary activities multiplied by the standard rate 
of corporation tax in the UK of 30% 1,562 —
Disallowed expenses 342 —
Depreciation in excess of capital allowances (83) —
Corporation tax relief on exercise of share options (420) —
Deferred income not taxable (273) —
Goodwill amortisation on consolidation 307 —
Other (2) —
Total current tax 1,433 —
(c) Deferred tax
Not Not
Provided provided Provided provided
2004 2004 2003 2003
Group £’000 £’000 £000 £000
Accelerated capital allowances 254 — ——
Other timing differences (30) — ——
Provision for deferred tax 224 — ——
8. Profit attributable to members of the Parent Company 
The Parent Company has taken advantage of section 230 of the Companies Act 1985 and has
not included its own profit and loss account in these financial statements. The profit for the
financial year of the Company was £2,658,000 (2003: £Nil).
9. Dividends
31 December 31 December
2004 2003
£’000 £’000
Final proposed 1.0p (2003: Nil) 1,309 —
Notes to the Financial Statements continued
Floors 2 Go plc Annual report and financial statements 2004 22
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 22 10. Earnings per share
The calculation of earnings per share is based on the profit of ordinary activities after taxation
for the financial period attributable to equity shareholders and the weighted average number
of ordinary shares as follows:
31 December 31 December
2004 2003
No. of No. of
Weighted average number of shares shares shares
For basic earnings per share 130,927,083 —
Dilutive potential ordinary shares 737,567 —
131,664,650 —
11. Intangible fixed assets
Goodwill
Group £’000
Cost:
Additions in the period – Anglo Baltic Ltd (note 24) 26,928
At 31 December 2004 26,928
Amortisation:
Charge in the period 1,010
At 31 December 2004 1,010
Net book value as at 31 December 2004 25,918
Net book value as at 31 December 2003 —
The goodwill arose on the acquisition of Anglo Baltic Limited in March 2004 and is being
amortised over 20 years.
Licence
Company £’000
Cost:
Purchased in the period 9,100
At 31 December 2004 9,100
Amortisation:
Charge in the period 910
At 31 December 2004 910
Net book value as at 31 December 2004 8,190
Net book value as at 31 December 2003 —
The product licence is being amortised over five years, which is the length of the licence.
Floors 2 Go plc Annual report and financial statements 2004 23
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 23 12. Tangible fixed assets
Leasehold land Fixtures and Motor
and buildings fittings vehicles Total
Group £’000 £’000 £’000 £’000
Cost:
As at 1 January 2004 ————
Arising on acquisition 3,339 733 225 4,297
Additions 1,829 53 68 1,950
Disposals — — (20) (20)
As at 31 December 2004 5,168 786 273 6,227
Depreciation:
As at 1 January 2004 ————
Provided during the year 1,046 153 67 1,266
Disposals — — (2) (2)
At 31 December 2004 1,046 153 65 1,264
Net book value:
At 31 December 2004 4,122 633 208 4,963
At 31 December 2003 ————
Leasehold land Fixtures and Motor
and buildings fittings vehicles Total
Company £’000 £’000 £’000 £’000
Cost:
As at 1 January 2004 ————
Transfer from subsidiary 5,205 1,029 345 6,579
Additions 1,520 46 51 1,617
Disposals — — (45) (45)
At 31 December 2004 6,725 1,075 351 8,151
Depreciation:
As at 1 January 2004 ————
Transfer from subsidiary 1,876 342 125 2,343
Provided during the year 727 100 45 872
Disposals — — (27) (27)
At 31 December 2004 2,603 442 143 3,188
Net book value:
At 31 December 2004 4,122 633 208 4,963
At 31 December 2003 ————
Included within fixtures and fittings are assets with a net book value of £138,000 and within motor
vehicles assets with a net book value of £129,000 which are held under hire purchase contracts.
Notes to the Financial Statements continued
Floors 2 Go plc Annual report and financial statements 2004 24
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 24 13. Investments
Investment
in Group
undertakings
2004
Company £000
Cost and net book amount
Additions and at 31 December 2004 28,584
At 31 December 2004 the Company holds 100% of the ordinary share capital of the following
subsidiaries, all of which are registered in England and Wales.
Subsidiary Nature of business
Anglo Baltic Limited Retailer of laminate and wooden flooring
Floors 2 Go Card Handling Services Limited Dormant, commenced trading on 
1 January 2005 as card handling services
Floors 2 Go Limited Dormant
14. Debtors
Group Group Company Company
2004 2003 2004 2003
£’000 £’000 £’000 £’000
Trade debtors 213 — 213 —
Other debtors 986 — 986 —
Called up share capital not paid — 37 — 37
Prepayments 1,564 — 1,564 —
2,763 37 2,763 37
15. Creditors: amounts falling due within one year
Group Group Company Company
2004 2003 2004 2003
£’000 £’000 £’000 £’000
Trade creditors 8,719 — 8,719 —
Bank loan 3,700 — 3,700 —
Amounts owed to Group undertakings — — 11,869 —
Other taxes and social security costs 4,109 — 4,109 —
Amounts due under hire purchase contracts 345 — 345 —
Corporation tax 860 — 860 —
Proposed dividend 1,309 — 1,309 —
Accruals 2,581 — 2,581 —
21,623 — 33,492 —
Floors 2 Go plc Annual report and financial statements 2004 25
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 25 16. Creditors: amounts falling due after more than one year
Group Group Company Company
2004 2003 2004 2003
£’000 £’000 £’000 £’000
Bank loan 8,237 — 8,237 —
Amounts due under hire purchase contracts 31 — 31 —
8,268 — 8,268 —
17. Borrowings
Group Group Company Company
2004 2003 2004 2003
£’000 £’000 £’000 £’000
Amounts falling due:
In one year or less 4,045 — 4,045 —
In more than one year but not more 
than two years 2,631 — 2,631 —
In more than two years but not more 
than five years 5,850 — 5,850 —
In more than five years — — — —
12,526 — 12,526 —
Less: issue costs (213) — (213) —
12,313 — 12,313 —
Less included in creditors: amounts 
falling due within one year (4,045) — (4,045) —
8,268 — 8,268 —
18. Derivatives and other financial instruments
The Group holds financial instruments to finance its operations and to manage interest rate
and currency risks arising from its operations.
Consequently the main risks arising from the Group’s operations are liquidity risk, interest rate risk
and currency risk.
Liquidity risk
The Group’s objective is to maintain continuity of funding through the use of retained profits
and medium to long term borrowings. The maturity profiles of the Group’s borrowings are
detailed in section (c) of this note.
Interest rate risk
The Group’s objective is to manage exposure to interest fluctuations whilst trying to minimise
the cost of capital to the Group.
The Group finances its operations through a mixture of hire purchase arrangements, bank loans
and cash at bank. The hire purchase arrangements are all at fixed rates of interest, the weighted
average of which is 14.7%.
Notes to the Financial Statements continued
Floors 2 Go plc Annual report and financial statements 2004 26
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 26 18. Derivatives and other financial instruments continued
Currency risk
The Group has transactional currency exposures which arise from the stock purchases which are
not in Sterling. The Group’s policy is to use forward contracts to hedge those transactions to minimise
any risk of significant currency exposure.
Short term debtors and creditors
Short term debtors and creditors have been excluded from all the following disclosures other than
the currency risk disclosures.
a) Interest rate profile
The currency profile of the Group’s financial assets is as follows:
Group Group
31 December 31 December
2004 2003
£’000 £’000
Sterling 1,578 13
Euro 219 —
Dollar 182 —
1,979 13
Financial assets comprise short term cash deposits, accessible within 24 hours, with major United
Kingdom clearing banks and deposits placed on money markets at call. The financial assets earn
floating rates of interest based upon bank base rates.
The interest rate profile of the Group’s financial liabilities is as follows:
Floating Rate
31 December 31 December 31 December 31 December
2004 2004 2003 2003
£’000 % £’000 %
Sterling borrowings
Bank loan one 1,100 5.00 ——
Bank loan two 10,837 2.25 ——
11,937 —
Fixed Rate
31 December 31 December 31 December 31 December
2004 2004 2003 2003
£’000 % £’000 %
Hire purchase contracts 376 14.7 ——
376 —
Total borrowings 12,313 —
The interest rate noted on Sterling borrowings is the excess over bank base rate.
Floors 2 Go plc Annual report and financial statements 2004 27
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 27 18. Derivatives and other financial instruments continued
b) Currency exposures
The amounts shown in the table below show the effect of forward contracts entered into to buy
US Dollars and Euros in order to manage foreign currency exposures as at 31 December 2004.
Initial
contract
value Contract Exchange
£’000 delivery Currency rate
Contract one 567 Jan 05 Euro 1.41
Contract two 271 Jan 05 US Dollar 1.77
Contract three 567 Feb 05 Euro 1.41
Contract four 271 Feb 05 US Dollar 1.77
Contract five 567 Mar 05 Euro 1.41
Contract six 271 Mar 05 US Dollar 1.77
Contract seven 69 Apr 05 US Dollar 1.75
2,583
c) Maturity of financial liabilities
The maturity profile of the Group’s financial liabilities was as follows:
31 December 31 December
2004 2003
£’000 £’000
In one year or less 4,045 —
In more than one year but not more than two 2,631 —
In more than two years, but not more than five 5,637 —
12,313 —
d) Borrowing facilities
The Group has borrowing facilities available to it. The un-drawn committed facilities available at
31 December in respect of which all conditions precedent had been met at that date are as follows:
31 December 31 December
2004 2003
£’000 £’000
Expiring in one year or less 1,900 —
e) Fair values
There is no material difference between the fair value and book value of the Group’s financial
assets and liabilities at the end of either period.
Notes to the Financial Statements continued
Floors 2 Go plc Annual report and financial statements 2004 28
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 28 19. Provisions for liabilities and charges
Vacant
Deferred property Other
tax lease provisions Total
Group £000 £000 £000 £000
At 31 December 2003 — — —
Arising on acquisition 123 305 313 741
Profit and loss account charge 101 — 38 139
Utilised in the year — (68) (10) (78)
At 31 December 2004 224 237 341 802
Other provisions comprise dilapidations and repair requirements to meet minimum health and
safety standards and the expenditure is expected to be incurred within the next 12 months.
Vacant
Deferred property Other
tax lease provisions Total
Company £000 £000 £000 £000
At 31 December 2003 — — —
Transfer from subsidiary 123 305 313 741
Profit and loss account charge 101 — 38 139
Utilised in the year — (68) (10) (78)
At 31 December 2004 224 237 341 802
Other provisions comprise dilapidations and repair requirements to meet minimum health and
safety standards and the expenditure is expected to be incurred within the next 12 months.
20. Share capital and share options
Authorised
No. of 2004
shares £’000
Ordinary shares of 0.005p
At 1 January 2004 4,000,000,000 200
29 January 2004 8,000,000,000 400
6 March 2004 11,250,000,000 563
Cumulative at 9 March 2004 pre consolidation 23,250,000,000 1,163
Ordinary shares of 0.5p
9 March 2004 – Consolidation 1:100 232,500,000 1,163
At 31 December 2004 232,500,000 1,163
Redeemable shares of £1 each
At 1 January 2004 50,000 50
9 March – redeemed (50,000) (50)
At 31 December 2004 ——
Floors 2 Go plc Annual report and financial statements 2004 29
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 29 20. Share capital and share options continued
Allotted and called up
No. of 2004
shares £’000
Ordinary shares of 0.005p each
At 1 January 2004 20,000 —
29 January 2004 157,980,000 8
9 March 2004 70,000,000 4
9 March 2004 – Bonus issue 40:1 9,120,000,000 456
Cumulative at 9 March 2004 pre consolidation 9,348,000,000 468
Ordinary shares of 0.5p each
9 March 2004 – Consolidation 1:100 93,480,000 468
24 March 2004 18,750,000 94
25 March 2004 17,020,000 85
1 April 2004 1,677,083 8
At 31 December 2004 130,927,083 655
Redeemable shares of £1 each
At 1 January 2004 50,000 50
9 March redeemed (50,000) (50)
At 31 December 2004 ——
The following changes in share capital occurred during the year:
On 29 January 2004 the Company issued 157,980,000 ordinary shares at 0.005p each.
On 29 January 2004 the Company increased its authorised share capital from £250,000 to
£650,000 by the creation of 8,000,000,000 ordinary shares of 0.005p each.
On 6 March the Company increased its authorised share capital from £650,000 to £1,212,500
by the creation of 11,250,000,000 ordinary shares of 0.005p each.
On 9 March 2004 the Company issued and allotted 70,000,000 ordinary shares of 0.005p
each at 5p per share under an offer for subscription.
On 9 March 2004 the Company made a bonus issue of 40 ordinary shares of 0.005p for every
ordinary share of 0.005p held by each member. On the same date the Company consolidated
every 100 ordinary shares of 0.005p each into one ordinary share of 0.5p. On 9 March 2004
the Company redeemed the redeemable shares for cash at par.
On 24 March 2004, the Company issued 18,750,000 ordinary shares of 0.5p each at 24p per
share under a placing, conditional upon the acquisition of Anglo Baltic Limited.
On 25 March 2004, the Company issued 17,020,000 ordinary shares of 0.5p each at 24p,
in connection with the acquisition of the whole of the issued share capital of Anglo Baltic Limited.
On 1 April 2004 the Company issued 1,677,083 ordinary shares of 0.5p each at 48p,
in connection with the listing of the Company on AIM.
Notes to the Financial Statements continued
Floors 2 Go plc Annual report and financial statements 2004 30
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 30 20. Share capital and share options continued
Share options
The number of share options outstanding under the Company’s share option schemes are as follows:
No. of Exercise
shares price
EMI – exercisable until June 2007 945,000 56.5p
Unapproved – exercisable until June 2007 2,541,664 48p
3,486,664
21. Reserves
Total
Share Share Profit andshareholders’
capital premium loss account funds
The Group £000 £000 £000 £000
At 1 January 2004 50 — — 50
Shares issued during the year 655 12,243 — 12,898
Repayment of redeemable shares (50) — — (50)
Costs on issue of shares — (413) — (413)
Profit for the year — — 3,671 3,671
Proposed dividend — — (1,309) (1,309)
At 31 December 2004 655 11,830 2,362 14,857
Total
Share Share Profit andshareholders’
capital premium loss account funds
Company £000 £000 £000 £000
At 1 January 2004 50 — — 50
Shares issued during the year 655 12,243 — 12,898
Repayment of redeemable shares (50) — — (50)
Costs on issue of shares — (413) — (413)
Profit for the year — — 2,658 2,658
Proposed dividend — — (1,309) (1,309)
At 31 December 2004 655 11,830 1,349 13,834
22. Operating leases
At 31 December 2004 the Group has annual commitments under non-cancellable operating
leases as set out below.
2004 2004 2003 2003
Land and Land and
buildings Other buildings Other
£000 £000 £000 £000
In one year or less 218 — ——
Between one and five years 749 246 ——
In five years or more 3,551 — ——
4,518 246 ——
Floors 2 Go plc Annual report and financial statements 2004 31
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 31 23. Notes to the consolidated cash flow statement
(a) Reconciliation of operating profit to net cash inflow from operating activities
2004 2003
£’000 £’000
Operating profit 6,043 —
Depreciation 1,266 —
Goodwill amortisation 1,010 —
Increase in stocks (2,350) —
Increase in debtors (534) —
Increase in creditors 5,532 —
Decrease in provisions (40) —
Net cash inflow from operating activities 10,927 —
(b) Reconciliation of net cash flow to movement in net debt
2004
£’000
Increase in cash in year 1,966
Cash inflow from new loans (15,000)
Repayment of loans 2,850
Issue costs on new loans 250
Repayment of hire purchase 1,008
Change in net debt resulting from cash flows (8,926)
Non cash movements:
Amortisation of debt issue costs (37)
Hire purchase acquired on acquisition (1,384)
Movement in net debt (10,347)
Opening net funds 13
Closing net debt (10,334)
(c) Analysis of net debt
At At 
31 December Cash 31 December
2003 flowAcquisition Other 2004
£’000 £’000 £’000 £’000 £’000
Cash at bank and in hand 13 1,966 — — 1,979
Bank loan less 
than 12 months — (3,700) — — (3,700)
Bank loan greater 
than 12 months — (8,200) — (37) (8,237)
Hire purchase — 1,008 (1,384) — (376)
Net debt 13 (8,926) (1,384) (37) (10,334)
Note: Other represents debt issue cost amortisation.
Notes to the Financial Statements continued
Floors 2 Go plc Annual report and financial statements 2004 32
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 32 24. Acquisition
On 25 March 2004 the Company acquired the entire issued share capital of Anglo Baltic Limited.
Book Fair value
value adjustments Fair value
Fair value £’000 £’000 Notes £’000
Tangible fixed assets 4,909 (612) (a) 4,297
Stocks 8,130 (563) (b) 7,567
Debtors 2,342 (150) (c) 2,192
Cash 673 — 673
Corporation tax (1,414) 343 (d) (1,071)
Hire purchase obligations (1,384) — (1,384)
Other creditors (9,869) (8) (e) (9,877)
Deferred taxation (123) — (123)
Other provisions — (618) (f) (618)
3,264 (1,608) 1,656
Goodwill 26,928
Consideration 28,584
Discharged by:
Cash 23,499
Deal Costs 1,000
24,499
Issue of shares 4,085
28,584
Provisional fair value adjustments have been made as set out below:
(a) Reduction following reassessment of fixed assets.
(b) Establishment of slow moving stock provision.
(c) Write down of debtors following reassessment of bad debts provision.
(d) Corporation tax arising on fair value adjustments.
(e) Sundry additional creditors.
(f) Provision for vacant leasehold properties and repair requirements to meet minimum health
and safety standards.
Floors 2 Go plc Annual report and financial statements 2004 33
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 33 24. Acquisition continued
The results of Anglo Baltic Limited prior to its acquisition were as follows:
1 January 1 January 
2004 to 2003 to
25 March 31 December 
2004 2003
£’000 £’000
Turnover 16,822 44,156
Operating (loss)/profit (832) 3,057
Interest payable (14) (66)
(Loss)/profit on ordinary activities before tax (846) 2,991
Taxation on (loss)/profit from ordinary activities — (1,116)
(Loss)/profit for the period (846) 1,875
25. Related party transactions
During the year the Group entered into transactions in the ordinary course of business with
Zeus Capital Limited, a company of which K Salisbury is a Director. R Hughes and I Currie,
who are major shareholders of the Group, are also Directors of Zeus Capital Limited. Financial
services amounting to £137,000 were purchased during the year, including K Salisbury’s Director’s
fees of £15,000. The trading balance outstanding at 31 December 2004 was £3,000.
Notes to the Financial Statements continued
Floors 2 Go plc Annual report and financial statements 2004 34
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 34 NOTICE IS HEREBY GIVEN that the Annual General Meeting (“AGM”) of Floors 2 Go plc
(the “Company”) will be held at Aston Villa Football Ground, Villa Park, Birmingham B6 6HE on
19 May 2005 at 12 noon, for the purpose of considering and, if thought fit, passing the
following resolutions, of which resolutions 1, 2, 3, 4, 5, 6, 7, 8, 9 and 10 will be proposed as
ordinary resolutions and resolution 11 will be proposed as a special resolution.
Ordinary business
Resolution 1
To receive and adopt the accounts for the year ended 31 December 2004 together with the
reports of the Directors and auditors thereon.
Resolution 2
To re-appoint Ernst & Young LLP as auditors of the Company and authorise the Directors to
determine their remuneration.
Resolution 3
To pay a final dividend on 24 June 2005 on the Company’s issued ordinary shares of 0.5p
each at the rate of 1p per share to shareholders on the register of members of the Company
at the close of business on 27 May 2005.
Resolution 4
To elect Edward Arthur Taylor as a Director of the Company.
Resolution 5
To elect Simon Jonathon Farnsworth as a Director of the Company.
Resolution 6
To elect Roy Anthony Gabbie as a Director of the Company.
Resolution 7
To elect Keith Pacey as a Director of the Company.
Resolution 8
To elect Colin Ernest Davies as a Director of the Company.
Resolution 9
To elect Keith William Salisbury as a Director of the Company.
Special business
Ordinary resolution
Resolution 10
THAT, for the purposes of and pursuant to section 80 (1) of the Companies Act 1985 (the “Act”),
the Directors of the Company be and they are hereby generally and unconditionally authorised
and empowered to exercise all the powers of the Company to allot the relevant securities
(as detailed in section 80(2) of the Act) up to an aggregate nominal amount of £261,845.17
(in substitution to any subsisting authorities under the Act) to such persons at such times and upon
such terms and conditions as they may determine (subject always to the articles of association of
the Company) provided this authority and power shall, unless renewed, varied or revoked, expire
at the conclusion of the next Annual General Meeting or 15 months from the date of the passing
of this resolution (whichever is the earlier) and provided further that the Company may before the
expiry of such period make any offer, agreement or arrangement which would or might require
relevant securities to be allotted after the expiry of such period and the Directors of the Company
may then allot relevant securities pursuant to any such offer, agreement or arrangement as if the
authority or power hereby conferred had not expired.
Notice of Meeting
Floors 2 Go plc Annual report and financial statements 2004 35
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 35 Special business (continued)
Special resolution
Resolution 11
THAT, for the purposes of and pursuant to section 95(1) of the Act, the Directors of the Company
be and they are hereby authorised and empowered to allot equity securities (within the meaning
of section 94 of the Act) pursuant to the general authority and power conferred by the resolution
numbered 10 in this Notice of Meeting as if section 89(1) of the Act did not apply to any such
allotment provided that this authority and power shall, unless renewed, varied or revoked, expire
at the conclusion of the next Annual General Meeting of the Company or 15 months from the
date of the passing of this resolution (whichever is the earlier) and provided further that this
authority and power shall be limited:
(a) to the allotment of equity securities pursuant to a rights issue or similar offer to ordinary
shareholders where the equity securities respectively attributable to the interests of all
ordinary shareholders are proportionate or as nearly as practical (and taking into account
any prohibitions against or difficulties concerning the making of an offer or allotment to
shareholders whose registered address or place of residence is overseas and subject to such
exclusions as the Directors of the Company may deem necessary or expedient to deal with
fractional entitlement or legal and practical difficulties under the laws of, or the requirements
of any recognised regulatory body in, any territory) to the respective numbers of ordinary
shares held by them; and
(b) to the allotment (otherwise than pursuant to paragraph (a) above) for cash of equity securities
up to an aggregate nominal amount of the greater of £65,463.54 or 10% of the current
issued share capital of the Company.
By order of the Board
Edward Taylor Registered office:
Company Secretary 74 Newtown Row
14 March 2005 Birmingham
B6 4HA
NOTES:
(1) A member of the Company may appoint one or more proxies to attend and, on a poll,
to vote instead of the member. A proxy of a member need not also be a member.
(2) The instrument appointing a proxy, and the power of attorney or other authority (if any) under
which it is signed, or a notarially certified copy of that power or authority must be deposited
with the Company’s registrars, Neville Registrars Limited, Neville House, 18 Laurel Lane,
Halesowen, West Midlands B63 3DA not less than 48 hours before the time for holding
the Meeting. A form of proxy accompanies this document for use by members.
(3) Completion of the form of proxy will not preclude a member from attending and voting
in person.
(4) Any corporation which is a member of the Company may authorise a person (who need not
be a member of the Company) to act as its representative to attend, speak and vote (on a
show of hands or a poll) on its behalf.
(5) In the case of joint holders of a share the vote of the senior who tenders the vote whether in
person or by proxy shall be accepted to the exclusion of the votes of the other joint holders
and for this purpose seniority shall be determined by the order in which the names stand in
the statutory register of members in respect of the share.
(6) As permitted by Regulation 41 of the Uncertifiated Securities Regulations 2001, only those
holders of ordinary shares in the Company who are registered on the Company’s share
register as at 12pm on 17 May 2005 shall be entitled to attend the AGM and to vote in
respect of the number of shares registered in their names at that time. Changes to entries on
the share register after 12pm on 17 May 2005 shall be disregarded in determining the rights
of any person to attend and/or vote at the AGM. 
Notice of Meeting continued
Floors 2 Go plc Annual report and financial statements 2004 36
_1_F2G_arb04.qxd  14/04/2005  12:54  Page 36 Floors 2 Go plc Annual report and financial statements 2004
Company Information
DIRECTORS
R Gabbie – Non-executive Chairman
S Farnsworth – Chief Executive Officer
E Taylor – Finance Director
C Davies – Non-executive Director
K Salisbury – Non-executive Director
K Pacey – Non-executive Director
ADVISORS
SECRETARY
E Taylor
AUDITORS
Ernst & Young LLP
No.1 Colmore Square
Birmingham
B4 6HQ
BANKERS
HSBC
31 Granby Street
Leicester
LE1 3EP
REGISTERED NUMBER
4728181
REGISTERED OFFICE
74 Newtown Row
Birmingham
B6 4HA
NOMINATED ADVISER AND BROKER
Numis Securities Limited
Cheapside House
138 Cheapside
London
EC2V 6LH
REGISTRARS
Neville Registrars
Neville House
18 Laurel House
Halesowen
West Midlands
B63 3DA
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Floors 2 Go plc  Annual report and financial statements 2004
Floors-2-Go House
74 Newtown Row
Birmingham
B6 4HA
www.floors2go.co.uk
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