The champions of 5-a-side
Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
New Sites Sponsorship & Events League & Social Play Acquisition
Powerleague Group plc
Anchor Grounds
Blackhall Street
Paisley PA1 1TD
0141 887 7758
www.powerleagueplc.com
Powerleague Group plc Annual Report and Financial Statements for the year ended 28 June 2008 01 Highlights 2008
02 Chairman’s Statement
06 Chief Executive’s Report 
10 Financial Review 
12 Board of Directors 
13 Corporate Governance
14 Directors’ Report 
16 Remuneration Report 
18  Statement of Directors’ Responsibilities  
in Respect of the Financial Statements
19 Independent Auditor’s Report 
20 Group Income Statement
20  Group Statement of Recognised Income 
and Expense 
21 Group Balance Sheet  
22 Group Cash Flow Statement  
23  Company Balance Sheet 
23  Company Statement of Recognised 
Income and Expense 
24 Company Cash Flow Statement  
25 Notes to the Financial Information
46 Notice of Annual General Meeting
50 Our Centres
IBC Advisers
Powerleague Group plc is the market-leading operator of  
premium quality, purpose-built 5-a-side football centres in  
the United Kingdom. 
We offer our customers the option of 
competitive league matches, corporate 
tournaments or social play within an 
environment of excellent service and first-class 
facilities. We continue to focus on increasing 
our national brand presence to meet local  
and regional demand for small-sided football.  
In addition we are extending our relationships  
with a growing number of high profile 
sponsors, blue-chip companies and major 
brands wishing to align themselves with 
grass-roots football and our customer base.
Auditors
Ernst & Young LLP
George House
50 George Square
Glasgow 
G2 1RR
Bankers
Bank of Scotland plc
123 St Vincent Street
Glasgow 
G2 5EA
Solicitors
Crutes LLP
Great North House
Sandyford Road
Newcastle Upon Tyne
NE1 8ND
Nominated Adviser and Broker
Cenkos Securities Limited plc
6.7.8 Tokenhouse Yard
London 
EC2R 7AS
Registrars
Computershare Investor Services plc
The Pavilions
Bridgwater Road
Bristol 
BS99 6ZY
Registered Office
Powerleague Soccer Centre
Pursley Road
Mill Hill
London 
NW7 2BB
Registered Number 5384840
Advisers Highlights 2008
Nine centres added in the financial year, four new-builds and five by acquisition
Revenue increased by 14% to £26.3 million (2007: £23.0 million)
Sponsorship and events revenue increased by 9% (2007: 41%)
Net cash flow from operating activities increased by 8% to £6.9 million  
(2007: £6.4 million)
 EBITDA before exceptional items increased by 8% to £9.1 million (2007: £8.4 million)
Operating profit up 8% to £6.6 million (2007: £6.1 million)
 Profit before taxation remained constant at £5.0 million (2007: £5.0 million)
Earnings per share decreased by 9% to 4.07p (2007: 4.47p), reflecting an increase 
in interest and taxation
 Adjusted earnings per share increase by 6% to 4.19p (2007 : 3.95p)
Proposed dividend of 1.1p (2007: 1.1p) per ordinary share
Results for the periods to 28 June 2008 and 30 June 2007 represent 52 weeks’ trading and references to ‘year’ throughout 
these accounts refer to these periods as defined.
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
01 Strengthening our Leading Position
The year under review has seen a step change  
in the progress and development of our Group. 
This has been a year of significant investment, 
with £24.4 million spent on building and 
acquiring nine new centres and maintaining  
the premium facilities in our existing estate.  
This investment consolidates our leading  
position in this sector and provides the basis  
for growth in the new financial year and beyond. 
Acquisition of Soccer Domes
On 26 February 2008, we completed the 
acquisition of JJB Soccer Domes from  
JJB Sports plc. JJB Soccer Domes was the  
third largest 5-a-side football operator in the 
United Kingdom. We paid £17.4 million in cash,  
derived from existing resources and increased 
banking facilities.
The acquisition comprised five purpose-built 
indoor soccer centres with a total of 70 pitches. 
The centres are located in Manchester, Wigan, 
Derby, Blackburn and North Shields and are 
highly complementary to Powerleague’s existing 
portfolio and pipeline of sites. The Manchester 
centre is the largest 5-a-side football centre in  
the world with 19 indoor and four outdoor pitches. 
We are very satisfied with the progress we have 
made to date. Powerleague’s management 
techniques and bespoke booking systems 
have been successfully implemented and we 
are beginning to see efficiency and synergistic 
benefits flowing through. These new centres not 
only extend our reach, but now make us unique 
in providing both outdoor and indoor purpose-
built 5-a-side facilities to our customers.
£23.1 million investment by Patron 
Capital Partners (‘Patron’)
In March 2008, we announced that Patron 
Capital, a leading private equity and property 
investment fund, had acquired a 29% stake in 
Powerleague.
I believe that our strategic alliance with Patron 
will bring significant benefits, given its wealth of 
experience in the property sector, coupled with 
its wide network of global relationships which 
will help us unlock further growth opportunities 
for our business in the UK and our potential 
expansion of 5-a-side into Europe.
Dividends 
The Board recommends a final dividend of  
1.1 pence per share, which is in line with that 
paid in 2007. We believe that this strikes the right 
balance between dividends and retaining cash 
in the business until there is greater clarity on 
the direction of the UK economy. The dividends, 
if approved, will be paid on 1 December 2008 to 
shareholders on the register at close of business 
on 7 November 2008.
Development Programme
In addition to the acquisition of the Soccer 
Domes, we have opened four new centres, 
thereby adding a further thirty 5-a-side pitches 
and three 7-a-side pitches to our portfolio, all 
with ‘next generation’ playing surfaces.
•	 Pow e r l e a g u e 	 Ca rd i f f 	 o p e n e d 	 i n 	 Au g us t 	 2 0 0 7	
with ten 5-a-side pitches. 
•	 Pow e r l e a g u e 	 O l d 	 St re et 	 o p e n e d 	 i n	
September 2007 and is an innovative indoor 
centre with four pitches in the heart of the 
City of London. 
•	 Pow e r l e a g u e 	 M i l to n 	 K ey n e s 	 o p e n e d 	 i n	
October 2007 adding ten 5-a-side pitches 
and two 7-a-side pitches.
•	 Pow e r l e a g u e 	 S h re w s b u r y 	 o p e n e d 	 i n	
January 2008 and added six 5-a-side 
pitches and one 7-a-side pitch.
 
Board Changes
As a result of the Patron investment, we have 
strengthened our Board with the appointment  
of two non-executive directors with effect from  
14 March 2008:
Paul Orchard-Lisle – Paul has a wealth of 
experience in the property sector, having 
previously been Senior Partner of Healey & Baker, 
President of the Royal Institution of Chartered 
Surveyors and Chairman of Slough Estates plc. 
He is currently Chairman of Falcon Property Trust, 
a director of Standard Life Property Income Trust, 
Director of Trinity Capital PLC and Chairman of 
Crown Golf UK, the largest operator of golf clubs 
in Europe.
Keith M Breslauer – Keith is the founder and 
Managing Director of Patron Capital Limited and 
related Patron entities. He has over 20 years’ 
experience in Corporate and Property Investment 
and has held senior investment banking 
positions in New York and London.
At the end of June 2008, Jeremy Hall, our 
Development Director, resigned as a director  
of the Company. We would like to thank Jeremy 
for his contribution to the development of 
Powerleague over the years.
I am once again delighted to be able to report  
another year of significant revenue and EBITDA  
growth for Powerleague.
Claude Littner Executive Chairman
Chairman’s Statement
02 “ The takeover of the JJB Soccer Domes by Powerleague moves some of 
the most impressive Small Sided facilities in the country into the hands of 
one of the Country’s foremost Small Sided Football providers.”
 Dermot Collins National Development Manager of Small Sided Football for the English FA
Soccer Domes Acquisition
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
03 Freehold sites
Council
Private landlord sites
School/university sites
New sites
Soccerdomes
Acquisitions
New site
Shrewsbury
New site
Cardiff
New site
Milton Keynes
New site
Old Street, London
Soccer Dome
North Shields
Soccer Dome
Blackburn
Soccer Dome
Wigan
Soccer Dome
Trafford, Manchester
Soccer Dome
Derby
Stockton-on-Tees
466 pitches across the UK 
for leagues, social games 
and corporate days
Coverage
466
Freehold sites
Council
Private landlord sites
School/university sites
New sites
Soccerdomes
Acquisitions
New site
Shrewsbury
New site
Cardiff
New site
Milton Keynes
New site
Old Street, London
Soccer Dome
North Shields
Soccer Dome
Blackburn
Soccer Dome
Wigan
Soccer Dome
Trafford, Manchester
Soccer Dome
Derby
Stockton-on-Tees
Stockton acquisition 
since year end
Four new centres opened
Shrewsbury
Milton Keynes
Cardiff
Old Street, London
5 Soccer Domes Acquired
North Shields: 11 pitches
Blackburn: 11 pitches
Wigan: 14 pitches
Manchester: 22 pitches
Derby: 11 pitches
Freehold sites
Council
Private landlord sites
School/university sites
New sites
Soccerdomes
Acquisitions
New site
Shrewsbury
New site
Cardiff
New site
Milton Keynes
New site
Old Street, London
Soccer Dome
North Shields
Soccer Dome
Blackburn
Soccer Dome
Wigan
Soccer Dome
Trafford, Manchester
Soccer Dome
Derby
Stockton-on-Tees
Freehold sites
Council
Private landlord sites
School/university sites
New sites
Soccerdomes
Acquisitions
New site
Shrewsbury
New site
Cardiff
New site
Milton Keynes
New site
Old Street, London
Soccer Dome
North Shields
Soccer Dome
Blackburn
Soccer Dome
Wigan
Soccer Dome
Trafford, Manchester
Soccer Dome
Derby
Stockton-on-Tees
04 Post Balance Sheet Event
In August 2008, we announced that we 
had acquired Soccer Sensations Limited, an 
established 5-a-side football centre located 
in Stockton-on-Tees. This centre has excellent 
facilities with ten ‘next generation’ 5-a-side 
pitches and its geographic location complements 
Powerleague’s portfolio of 43 centres around 
the UK.
Prospects and Outlook 
Whilst the economic outlook in the UK is 
uncertain, we believe that the Group has 
developed a resilient market and financial 
position. Trading during the first three months of 
the new financial year has continued to be in line 
with our expectations. Pitch revenues, our core 
business and key income driver, remain strong 
while the sector-wide reduction in bar revenues 
continues to impact the Group. 
We have enjoyed a healthy growth in 
sponsorship and events over the past few years 
and I anticipate that the Group will deliver further 
progress in this area in the new financial year.
For the current financial year, our focus is to grow 
revenue in the four centres we opened in the 
financial year and complete the integration and 
maximise the potential of the Soccer Domes and 
Soccer Sensations acquisitions, whilst ensuring 
that our established centres continue to prosper. 
I am confident we have the management team 
and wherewithal to achieve these objectives.
In addition, we continue to increase our pipeline 
of potential new sites and move them along 
the development process. These initiatives will 
enable us to maintain or accelerate our roll out 
programme. We have a number of strategically 
located high quality sites with no commercial 
competition under agreement to lease. In time 
these will come to fruition and add significant 
value to the Group.
 
I would like to take the opportunity to thank our 
staff for their hard work, dedication and loyalty, 
and I want to thank our bankers HBOS, who have 
been so supportive of our growth strategy over 
many years and with whom we have developed 
an excellent working relationship.
Claude Littner Chairman
1 October 2008
Chairman’s Statement Continued
We have enjoyed a healthy growth in sponsorship and events over 
the past few years and I anticipate that the Group will deliver further 
progress in this area in the new financial year.
Claude Littner Executive Chairman
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
05 As outlined in the Chairman’s statement, this 
year has been one of significant development 
for the Group and I am pleased that we have 
continued to show strong growth over the year 
with increases in revenue and EBITDA.
New openings
During the year under review, we opened four 
new centres across the UK.
The new Powerleague centre at Cardiff opened 
in August 2007 and is located at Whitchurch 
High School, the largest comprehensive school 
in the country, just off a main arterial road 
into the city. It is a state-of-the-art 5-a-side 
football venue with 10 rubber crumb pitches, 
a sports bar and modern changing facilities. 
Powerleague invested £1.6 million in the 
construction of the centre.
The new Milton Keynes centre, which opened  
in October 2007, is also located at a school  
and was successfully won via a tender process. 
Powerleague has invested in excess of  
£2.0 million in the centre at Milton Keynes,  
which comprises ten 5-a-side and two  
7-a-side pitches.
The centre at Old Street opened in September 
2007. It is an innovative indoor centre with four 
pitches in the heart of the City of London, not far 
from our existing centre in Worship Street, and 
has extremely high utilisation rates.
The newest centre, which opened in January 
2008, is located in Shrewsbury, alongside the 
grounds of the football club’s new stadium. The 
centre has six 5-a-side pitches and one 7-a-side 
pitch and will benefit from clubhouse revenues 
when the Club hosts home games as the 
football season gets under way.
We are very pleased with the performance of 
these centres which will all make a positive 
contribution in the current financial year.
In August 2008, we announced that we had 
acquired Soccer Sensations, the premier  
5-a-side football centre in Teesside, located at 
Stockton-on-Tees. This is a centre with excellent 
facilities that boasts ten ‘next generation’ 
5-a-side pitches and its geographic location 
complements Powerleague’s portfolio of 43 
centres around the UK. We are confident that 
with our know-how, we can grow revenue  
and profit.
Soccer Domes
Our recent acquisition of the JJB Soccer Domes 
combined the third largest 5-a-side operator in 
the UK with Powerleague, already the largest 
player in the market. This acquisition of outdoor 
and indoor centres has created a number of 
exciting growth opportunities for the Group to 
exploit and has been welcomed by customers, 
colleagues and sponsors. The Soccer Domes 
offer excellent security of tenure with an 
average lease period of 20 years with an  
option to renew. 
All five of the Soccer Domes are making a 
positive contribution to profits, present excellent 
growth opportunities and fit extremely well 
into our core estate. In Greater Manchester, 
Powerleague now has four locations with 67 
pitches in total covering different parts of the 
city and beyond. The Soccer Domes also retain 
a number of high-profile corporate clients 
and events and our unrivalled track record in 
monetising sponsorship and events means we 
are well placed to grow this revenue stream as 
the year progresses. 
Over the last six months we have successfully 
integrated Powerleague’s proprietary 
management and booking systems into the 
Soccer Domes. This, together with a focused, 
proactive sales approach has given us far 
greater revenue visibility and allowed us to fully 
utilise our pitch bookings, creating the platform, 
infrastructure and branch management 
expertise to generate further revenue growth. 
A full review of staffing levels has been carried 
out and cost savings have been made in a 
number of non-key areas. 
A major re-marketing campaign is under way 
at the Powerleague Soccer Domes, with the 
rebranding of the centres already complete and 
new marketing literature created. This is timed 
for the key autumn recruitment period as we 
come out of the summer months, the darker 
nights kick in and the football season gets into 
full swing.
We have also gained entertainment licences 
at all five of the Soccer Domes, opening up 
a whole new income stream to the Group. 
Weekend functions are highly popular with the 
local communities in which our centres serve 
and we have been successfully marketing our 
bars for private weekend function trade for a 
number of years. With all of the Soccer Domes in 
prominent locations we have already started to 
see function bookings being made, particularly 
since we refurbished the Soccer Dome bars and 
adapted them for weekend function trade.
Capital Investment
In the last financial year, we have continued to 
invest in our core estate. We spent £1.4 million 
on 80 pitches at nine centres, introducing the 
latest 5th generation playing surfaces and thus 
enhancing our customers’ playing experience. 
Over 80% of our pitches now have the latest 
playing surfaces, up from less than 50% three 
years ago. As discussed earlier, we have also 
invested in improving the look and feel of the 
Soccer Dome bars for existing customers and  
to make them suitable for private functions.
In addition, we have just opened two new  
5-a-side pitches at our Mill Hill centre, which 
was running at capacity and has scope for 
further growth, and have extended the car 
park and improved the lighting as part of 
our commitment to improve our customer 
experience.
All five of the Soccer Domes are making a positive 
contribution to profits, present excellent growth 
opportunities and fit extremely well into our core estate. 
Sean Tracey Chief Executive
Chief Executive’s Report
06 Top Sponsorship
Our proactive approach to sourcing and investigating 
innovative marketing ideas has helped develop this 
lucrative income stream.
Powerleague, the UK market leader in 5-a-side football, 
gets the attention of over 125,000 footy-crazy men and 
women every week at 44 centres nationwide. 
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
07 Community
children per week play for free
Charities supported in 2007/08
25,000
08 Pipeline Sites
Our pipeline of potential sites continues to 
strengthen and there are many areas where 
the demand for commercial 5-a-side remains 
untapped. We remain focused on developing 
new sites in the United Kingdom which are not 
only in strong locations but with a prudent rent 
and lease agreement in place. We will continue 
to develop the business in an entrepreneurial 
and prudent fashion and remain alive to all 
future opportunities for growth, helping to  
build our business for the long term.
Sponsorship and Corporate events
With an unrivalled client list of blue chip 
sponsors and corporate events in place and 
built up over recent years, improving on 
last year’s strong growth was a significant 
challenge. We are delighted to have once 
again increased our sponsorship and event 
income with 9% growth. We have added Nivea 
for Men as our official grooming partner and 
entered into a three-year agreement with 
Carling. We have also signed up JJB as our 
official sports retailer, thereby giving us access 
to 360 sports stores and the opportunity of 
communicating with a huge segment of our 
target market around the country on a regular 
basis. Finally, we are pleased to confirm that we 
have renewed our sponsorship agreement with 
Lucozade, our official sports drink, for a further 
four years on enhanced terms. 
In the last twelve months we have also hosted 
and managed new national events for major 
clients including Asda, Grant Thornton, 
Alliance and Leicester and Ernst & Young. Our 
well-established track record of sourcing and 
securing new clients means we remain uniquely 
well placed to take advantage of the increasing 
popularity of 5-a-side football, particularly as 
the country turns its attention to the 2010  
World Cup. 
Principal Risks and Uncertainties
The pipeline of sites is an important factor as it 
impacts our roll-out programme. Key to this is 
market intelligence in finding suitable potential 
sites and then managing them through the 
planning process. We are confident that we 
have the expertise to develop and bring 
new sites to fruition. Competitor activity may 
have an adverse impact if a 5-a-side centre 
is established within close proximity and 
encroaches on our existing catchment area. 
However, with so many geographic areas 
not yet well served by purpose-built 5-a-side 
facilities, we view this as a factor which any 
commercial operator should take into account 
when considering new site development.
As with any business, there is always a 
dependence on a number of employees who 
hold key positions and are tasked to implement 
the Group’s objectives. We provide an attractive 
salary and incentive package designed to retain 
and motivate all employees and these people 
in particular. We embrace a culture where 
initiative, teamwork and results are recognised 
and rewarded.
Health and Safety is a priority and is discussed 
at both branch and Board level, with audits 
undertaken by qualified managers.
Corporate and Social Responsibility
Powerleague continues to work with a number 
of charities on a local and national basis. In 
the year under review, we have hosted and 
managed a national event for Childline and 
supported the Meningitis Trust. We have 
strengthened our links with Clic Sargent, 
a children’s cancer charity, with a national 
fundraising event. We hosted Clubs for Young 
People and had 800 children entertained 
at our Manchester Trafford Soccer Dome. 
We supported the Motor and Allied Trade 
Benevolent Fund with a fundraising national 
event and also Myeloma UK. We are currently 
working with the Homeless World Cup, a major 
international charity which runs small-sided 
football around the world, offering our expertise 
to assist with the World Cup finals in Milan this 
year and supporting the Scottish and English 
team entrants with free training facilities. 
The Group also continues to offer free play in all 
centres for local schools and community groups. 
This helps in tackling issues such as obesity by 
providing quality, purpose-built sports facilities 
where currently there are none. In addition, the 
thirteen education sector institutions where 
we have centres derive an additional income 
stream from our rental payments.
Staff
I would once again like to thank our staff for 
their hard work, loyalty and commitment to the 
Group over the past year. Our new colleagues 
who have joined us from JJB have shown 
genuine commitment, energy and patience  
as we have set about introducing our processes 
and controls on the Soccer Dome centres.  
Our network of staff at branch and head office 
continues to perform to the highest standards 
and their unrivalled experience in the industry 
provides the essential building blocks to manage 
our existing business and to continue growing.
Outlook
Over the past twelve months we have 
strengthened our dominant position as the 
market leader in purpose-built 5-a-side football 
with our acquisition of the JJB Soccer Domes. 
We are well placed to continue to develop the 
business and our focus over the next period is 
primarily to maximise revenue and profit within 
our recently expanded estate, continue to grow 
sponsorship and events and extend our pipeline 
of potential new sites. 
I am confident the investment we have made 
in new and existing centres will provide further 
growth in the new financial year.
Sean Tracey Chief Executive
1 October 2008
I am confident the investment we have made in new and existing 
centres will provide further growth in the new financial year.
Sean Tracey Chief Executive
Chief Executive’s Report Continued
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
09 Financial Review
This has been a year of significant investment, with £24.4 
million spent on building and acquiring nine new centres 
and maintaining the premium facilities in our existing estate.
Sheena Beckwith Finance Director
Revenue and Profit
At £26.3 million, revenue in the year to 28 June 
2008 increased by 14% over the prior year, with 
performance boosted by the addition of the four 
new-build centres throughout the year and the 
five Soccer Domes in February 2008.
EBITDA before exceptional items increased  
by 9% as detailed below:
  52 weeks  52 weeks   
  ended  ended  
  28 June 2008 30 June 2007
  £’000  £’000 
Profit for the year 3,331 3,659
Taxation expense 1,632 1,299
Net interest expense 1,683 1,104
Exceptional items 74 28
Depreciation of  
tangible fixed assets 2,302 2,279
Amortisation of  
intangible fixed assets 125 – 
EBITDA before  
exceptional items 9,147 8,369
EBITDA margin before  
exceptional items 34.7% 36.3%
Whilst our underlying EBITDA margin remains 
strong, it has been impacted by pre-opening 
costs of the four new centres built during the 
year, in comparison with no such costs in the 
prior year. In addition, the Group bore the 
higher costs of operation of the Soccer Domes, 
including an element of restructuring costs 
and greater management resource, while they 
were being integrated into the Powerleague 
operation. This restructuring is now complete.
Amortisation
Arising from the acquisition of the Soccer Dome 
business on 26 February 2008, intangible 
assets of £1,229,000 have been separately 
identified and valued on a fair value basis. In 
accordance with IFRS 3, these intangible assets 
will be amortised over a five-year period. The 
charge for the period from acquisition to 28 June 
2008 was £125,000. Profit before taxation has 
therefore been reduced by this amount, which 
was not charged in the comparative period.
EBITA before exceptional items, being EBITDA as 
detailed above, less depreciation, improved by 
11% to £6.8 million from £6.1 million.
Interest
The interest rate cost to the Group has increased 
over the prior year by £579,000. Over the course 
of the financial year the base rate reduced from 
5.75% to 5% which resulted in savings in interest 
on the portion of the Group’s borrowing which  
is linked to base rate. At the same time,  
the Group’s overall net debt increased from 
£18.5 million to £38.4 million, as a result of both 
the level of capital expenditure on construction 
of new centres and the acquisition of the Soccer 
Domes. Much of this new borrowing is linked 
to LIBOR and the Group has been impacted by 
the marked dislocation between base rate and 
LIBOR as the LIBOR rate has ranged between 
6.65% and 5.95% in the period. After the year-
end, on 30 July 2008, a £17.0 million 2-year cap/
collar hedging arrangement was established, 
with a cap rate of 6.00% and collar rate of  
5.36%. There was no cost incurred to establish 
this facility.
Taxation
A detailed analysis of taxation is set out at  
note 9 to the financial statements.
The effective rate of taxation is 33%, which is 
higher than the composite standard rate of 
29.5%, principally as a result of adding back 
non-qualifying depreciation to arrive at profit 
chargeable to taxation. The effective rate this 
year represents an increase over the effective 
rate of 26% applicable in the year to 30 June 
2007 as that period benefited from a one-off 
restatement in the carrying value of deferred 
taxation balances from 30% to 28%, an impact 
of £279,000, together a £57,000 benefit from 
losses brought forward from earlier periods. 
Had these not taken place, the effective rate 
would have been 33%. 
Earning per Share
Earnings per share for the year was 4.07 pence 
compared with 4.47 pence in the previous year. 
As detailed above, whilst EBITDA increased 
during the year, amortisation was charged for 
the first time. In addition, interest increased 
following a year of significant investment, 
however, the business did not benefit fully from 
the increased trading which will ultimately 
arise from that expenditure as the new centres 
mature and the acquired centres benefit 
from our expertise. Also, the effective tax rate 
increased from an unusually low rate in the 
prior year. An adjusted earnings per share 
calculation is provided below, illustrating the 
impact of exceptional items, amortisation and 
the effective tax rate change:
  52 weeks  52 weeks   
  ended  ended  
  28 June 2008 30 June 2007
  £’000  £’000 
Profit for basic and  
diluted earnings  
per share 3,331 3,659
Exceptional operating  
items 74 28
Taxation effect of  
exceptional items 24 7
Amortisation –  (125)
Change in effective rate  
of taxation to current  
year rate –  (336)
Profit for adjusted 
earnings per share 3,429 3,233
Adjusted earnings per  
share (increased by 6%) 4.19 3.95
10 Cash Flow
Cash flow from operating activities increased 
by 7% to £6,896,000 from £6,421,000, a direct 
result of the improvement in operating profit. 
The high level of capital expenditure and 
acquisition during the year was largely funded 
by new debt, while £3,852,000 of existing debt 
was repaid. Despite the increase in interest 
costs and an increase in the dividend paid to 
shareholders, the Group generated £615,000 
in cash.
Control Environment
The Group operates tight controls over its 
financial operations. Control over income at 
branch level is maintained with the assistance 
of our bespoke booking system, which, in 
addition to controlling pitch bookings, also 
encompasses a cash reconciliation facility. 
Control over expenditure is maintained partly 
through a low level of delegated authority and 
partly though our bespoke purchase order 
system; this system is web based and permits 
full visibility from branch to director level. 
These systems are fully scalable and further 
investment will not be required as our number 
of centres increases.
Financial Risk Management
The Group’s principal financial risk is associated 
with interest rates. The Group borrows in 
sterling at floating rates of interest. Further 
details of interest rates and debt are given in 
note 17. Interest risk is mitigated by regularly 
comparing the likelihood and cost of interest 
rate rises against the cost of relevant financial 
instruments and entering into such financial 
instruments where it is deemed prudent. The 
Group’s exposure to interest rate risk is shown 
in note 17, including a table demonstrating 
sensitivity to a reasonably possible change  
in interest rates.
The Group’s principal financial instruments 
comprise cash, short-term deposits and 
borrowings and longer term borrowing, 
together with accounts receivable and payable 
arising directly from operations. The main risk 
arising from these instruments is liquidity. To 
mitigate the liquidity risk and thus ensure the 
Group can meet its financial obligations as they 
fall due, cash collection is rigorously enforced 
and the investment decision process includes 
careful consideration of level and timing of 
payback and overall rates of return. Exposure to 
credit risk, through trade receivables, is limited 
in that such receivables typically only arise 
where a pitch booking is made but not utilised; 
such a debt requires to be settled before further 
use of the Group’s facilities is permitted. Due to 
long-established relationships with the majority 
of sponsors, the Group does not consider there 
to be a significant credit quality issue.
As the Group’s operations are all situated 
within the United Kingdom, the Group has had 
no currency dealings and therefore no foreign 
exchange exposures. 
Capital Management
The primary objective of the Group’s capital 
management is to ensure that it maintains  
a strong credit rating and healthy capital ratios 
in order to support its business and maximise 
shareholder value. The Group manages its 
capital structure and makes adjustments to it,  
in light of changes in economic conditions.  
To maintain or adjust the capital structure,  
the Group may adjust the dividend payment  
to shareholders, return capital to shareholders 
or issue new shares. No changes were made  
in the objectives, policies or processes during 
the year end 28 June 2008 or 30 June 2007. 
The Group monitors capital using a gearing 
ratio of net debt divided by capital plus net debt. 
Net debt comprises total bank loans less cash 
and cash equivalents and capital comprises 
equity attributable to the equity holders of the 
parent. The Group’s policy is to maintain the 
gearing ratio below 75%. 
Calculation of gearing ratio
  52 weeks  52 weeks   
  ended  ended  
  28 June 2008 30 June 2007
  £’000  £’000 
Cash and cash  
equivalents (570) (549)
Short-term borrowings 6,722 4,991
Non-current instalments  
due on bank loans 32,280 14,060
Net debt 38,432 18,502
Capital 21,716 19,298
Net debt 38,432 18,502
  60,148 37,800
Gearing ratio 64% 48%
Distributions
Details of dividends paid and proposed during 
the year are given in note 11 to the financial 
statements. The Company’s policy is to declare 
one final dividend each year. 
Going Concern
The Directors have a reasonable expectation 
that the Group has adequate resources to 
continue in operational existence for the 
foreseeable future. For this reason, they 
continue to adopt the going concern basis  
in preparing the financial statements.
Sheena Beckwith Finance Director
1 October 2008
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
11 Board of Directors
Claude Littner, MBA
Executive Chairman (aged 59)
Claude joined the Group as Chairman in June 2001. He has had a successful career as a turnaround specialist. In 
the early 1990s he was Chairman and Chief Executive of Amstrad International, Amstrad Spain and Dancall Telecom. 
From 1993 to 1999 he was Chief Executive of Tottenham Hotspur plc and from 2004 to 2007 he was Chairman of ASCO 
plc. Claude was a non-executive director of Amstrad plc and is currently Chairman of Aspire Oil Services Ltd, deputy 
Chairman of Blacks Leisure Group plc and a Non-Executive director of the cancer charity Myeloma UK. 
Sean Tracey, BA Hons 
Chief Executive (aged 41)
Sean has worked in the leisure industry for  
15 years and in 5-a-side football since 1994 
when he was recruited by Anchor International 
Limited to manage the Group’s most successful 
centre in Glasgow. Sean’s career progressed 
as he was promoted to New Site Openings 
Manager and subsequently National Sales 
Manager. In December 1999, he was appointed 
Sales Director of the Group, Managing Director 
in September 2002 and Chief Executive in 2005.
Sheena Beckwith, CA
Finance Director (aged 43)
Following her qualification as a Chartered 
Accountant with Coopers & Lybrand (Glasgow), 
Sheena joined BAA plc as Finance Manager 
of Prestwick Airport. After the airport’s sale 
into private ownership in 1992, Sheena was 
promoted to Finance Director of Prestwick 
Airport and remained in that position until 
2002. During that time, she was responsible for 
handling the transaction process of the airport 
sale, first to Stagecoach plc in 1998 and then 
to Infratil (NZ) plc in 2001. Sheena joined the 
Group as Finance Director in June 2002. 
Paul Orchard-Lisle, CBE TD DL 
Non-Executive Director (aged 70)
Paul is a Past President of The Royal Institution 
of Chartered Surveyors and former senior 
partner of Healey and Baker. His current 
appointments are as Chairman of Falcon 
Managers Ltd, Chairman of Crown Golf UK, 
Director of Standard Life Investments Property 
Income Fund, Director of Trikona Trinity Capital 
plc and senior advisor to Patron Capital LLP. 
He was previously non-executive chairman 
of Slough Estates plc and property investment 
advisor to The Wellcome Trust and is currently 
the Representative Deputy Lieutenant for  
The City of Westminster. 
Andrew Mallett, FCA 
Non-Executive Director (aged 58)
Andrew qualified as a Chartered Accountant 
with Price Waterhouse (London). He has 
operated at board level in a number of private 
and public companies in various sectors, 
including leisure and retail, undertaking 
strategic and turnaround work. Andrew was 
Deputy Chairman of Asco plc from 2004 to 
2007 and is currently a Director of Aspire Oil 
Services Limited and Non-Executive director  
of Blacks Leisure Group plc.
Simon Bentley, FCA
Non-Executive Director (aged 53)
Simon qualified as a Chartered Accountant 
with BDO Stoy Hayward (London) in 1980 before 
joining Landau Morley where he was promoted 
to partner later that year. From 1989 to 2002 
Simon was Chairman and Chief Executive of 
Blacks Leisure Group plc. Simon is currently 
acting Chairman of Sports Direct International 
plc and Deputy Chairman of Mishcon de Reya 
and The Leadership Trust. He also chairs a 
number of other companies including Umberto 
Giannini and Maypole Group plc. 
Keith Breslauer, MBA
Non-Executive Director (aged 42)
In 1999, Keith founded Patron Capital and is 
currently Managing Director of Patron Capital 
Limited, investment adviser to the Patron Capital 
Partner Funds. Patron represents leading U.S. 
and European endowments, foundations and 
pension funds and manages over €1.7 billion of 
equity capital across a series of funds. In late 
2007 Patron won best Real Estate Manager of the 
Year by the Foundation Endowment Community. 
Keith began his career with Lehman Brothers, 
initially in the United States and then in Europe. 
In 1993, while at Lehman Brothers’ London office, 
Keith led the creation of the Principal Finance 
Group and was named Co-head of International 
Mortgage and Real Estate Group until he left in 
1997 to start Patron. Keith has an MBA degree 
from University of Chicago and a BSc degree 
from NYU School of Business, and serves on 
numerous Advisory Boards of various charities.
12 As an AIM listed company, Powerleague Group plc is not subject to  
the requirements of the Combined Code on corporate governance.
However, the Group is committed to high standards of corporate 
governance. This statement describes how the principles of corporate 
governance are applied to the Group.
The Board of Directors
The Board meets regularly (at least six times per year) to consider  
all aspects of the Group’s activities. To enable the Board to discharge  
its duties, all Directors receive appropriate and timely information.  
Briefing papers are distributed to all Directors in advance of Board 
meetings. There are delegated authorities in place to Committees  
of the Board for the specific purposes of determining Directors’ 
remuneration, matters concerning audit and the appointment of  
Directors. Details of these Committees are given below. The day-to-day 
management of the Group is delegated by the Chairman to the  
Chief Executive and Finance Director, who together form the  
Executive Committee.
The Audit Committee
The Audit Committee meets at least twice a year to review and consider 
the system of internal controls within the Group. The Committee also 
reviews financial statements to be published externally before their 
submission to the Board and authorises changes in accounting policies. 
The Committee reviews the remuneration and terms of reference of the 
external auditors and considers their independence. The Committee 
meets at least annually with the external auditors without management 
present and has unrestricted access to the external auditors throughout 
the year. The Group has established an internal audit function which 
reports directly to the Executive Committee and also reports periodically  
to the Audit Committee.
The Audit Committee is chaired by Andrew Mallett, with Simon Bentley  
and Paul Orchard-Lisle as the other members of the Committee.
The Remuneration Committee
The Remuneration Committee meets at least annually and is responsible 
for determining the remuneration of the Executive Directors and senior 
management. The report on Directors’ remuneration on pages 16 and 
17 gives details of the Group’s policy on executive remuneration and of 
individual Director’s remuneration packages. The Chairman attends 
Remuneration Committee meetings by invitation. No Executive Director 
is present during any meeting of the Remuneration Committee at which 
his or her own remuneration is discussed. The fees of the Non-Executive 
Directors are a matter for the Board as a whole.
The Remuneration Committee is chaired by Simon Bentley with Andrew 
Mallett and Paul Orchard-Lisle as the other members of the Committee.
The Nomination Committee
The Nomination Committee comprises the whole Board, who together 
consider the appointment of Directors. At each Annual General Meeting, 
one third of eligible Directors is required to retire.
Relations with Shareholders
Communication with shareholders is given high priority. The Chief 
Executive’s Report on pages 6 to 9 includes a detailed review of the 
business and future developments of the Group. There is regular dialogue 
with institutional investors, including presentations after the Group’s 
preliminary announcement of the year-end results and at the half year. 
The Board uses the Annual General Meeting to communicate with private 
and institutional investors and welcomes their participation.
Key information is posted on the investors’ website at  
www.powerleagueplc.com.
Internal Controls
The Directors acknowledge that they are responsible for reviewing 
the effectiveness of the Group’s system of internal controls, including 
operational compliance and risk assessment. There is an on going 
process of identifying, evaluating and managing significant risks faced 
by the Group. The Group’s system of internal controls is designed to 
provide reasonable, although not absolute, assurance against material 
misstatement or loss.
Set out below are the key internal control procedures adopted by the Group:
•	 Management structure
 There is in place a clearly defined organisational structure specifying 
reporting lines. Duties and responsibilities are internally divided in a 
manner which is designed to promote internal verification and review. 
Authority to make commitments is delegated by the Chairman to 
Executive Directors and senior managers within set limits. Operational 
and financial controls and procedures are promulgated throughout  
the Group via the Operations Manual, which is continually reviewed  
for relevant application of current legislation and good practice.
•	 Identification and evaluation of business risks
 The major financial, commercial, legal and operational risks within 
the Group are considered as part of the reporting process to the 
Board. Risk assessment has been undertaken for operational and 
financial procedures and these are reviewed as part of the day-to-day 
management of the business. Consideration is given to all aspects of 
insurance risk in order to minimise exposure of the Group.
•	 Information and financial reporting systems
 The Group’s comprehensive planning and financial reporting 
procedures include detailed budgets, which are set each year for the 
forthcoming 12-month period, and regular longer term forecasting. 
The actual performance of the business is measured and evaluated 
against the annual budget as well as against prior year performance. 
A number of key performance indicators are in place, which effectively 
measure aspects of the business. A detailed report is provided to the 
Board each month, highlighting any significant variances identified. 
Updated forecasts for the year are prepared in the second half of  
each year and key risks are evaluated on a rolling basis.
•	 Investment appraisal
 The budgetary process and authorisation levels regulate capital 
expenditure. For all major projects, an appraisal paper is prepared 
for the Board for approval. The progress of each project is monitored 
continuously for costs and time scales and a report prepared for the 
Board at regular intervals.
Corporate Governance
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
13 Directors’ Report
The Directors present their report and the Group financial statements for the year ended 28 June 2008.
Principal activity
The principal activity of the Group is to develop and manage 5-a-side football centres. At the year end, the Group operated from 43 centres throughout 
the UK, all but two of which are freehold or long leasehold.
Results and dividends
The Group profit for the year, before taxation, amounted to £4,962,000 (2007: £4,958,000). After taxation the profit amounted to £3,331,000  
(2007: £3,659,000) which has been transferred to reserves. The Directors recommend the payment of an ordinary dividend of 1.1 pence per ordinary  
10 pence share. 
Review of business and future developments
A review of the business and the future developments of the Group is presented in the Chairman’s Statement on pages 2 and 5 and in the  
Chief Executive’s Report and Financial Review on pages 6 to 11.
Directors and their interests
The Directors who have served during the year are:
C M Littner
S P Tracey
J C Hall (resigned 30 June 2008)
S M Beckwith
A H Mallett
S A Bentley
K M Breslauer (appointed 14 March 2008)
P D Orchard-Lisle (appointed 14 March 2008)
The interests of the Directors in the share capital of the Company are summarised below:
    at 28 June 2008 at 30 June 2007
Ordinary shares of 10 pence each:
C M Littner    3,556,467 19,375,000
S P Tracey    2,053,232 9 ,687,499
J C Hall    1,486,538 1,486,538
S M Beckwith    458,488 624,998
A H Mallett    59,090 59,090
S A Bentley    10,000 10,000
K M Breslauer    – –
P D Orchard-Lisle    – –
Interests in options
The Company has a share option scheme by which Directors and other senior employees are able to subscribe for ordinary shares in the Company.  
The interests of the Directors were as follows:
    Granted  
   At 1 July 2007 during the year At 28 June 2008 
   No. No. No.
S M Beckwith   70,000 – 70,000
   –––––––––––––– –––––––––––––– ––––––––––––––
The exercise price of the options is 69 pence and exercise dates range between 14 November 2009 and 13 November 2017. However, the options may 
only be exercised if the Group achieves growth in Earnings per Share of 3% annually prior to the options being exercised. As this condition has not been 
met this year, the options are not capable of being exercised and are therefore forfeited. 
 
The market price of the Company’s shares on 28 June 2008 was 63.0 pence per share. The highest and lowest market prices during the year for each 
share under option that is unexpired at the end of the year are 115.0 pence and 59.5 pence respectively.
No other Directors have interests in options and the interests of the Directors in share options have not changed since the year end.
14 Financial Risk Management
A description of the Group’s consideration of Financial Risk Management is given in the Chief Executive’s Report and Financial Review on pages 6 to 11.
Employees with disabilities
Full and fair consideration is given to applications for employment made by people with disabilities, having regard to their particular aptitudes  
and abilities. It is the Group’s policy to retrain, whenever possible, employees who become disabled to enable them to perform work identified  
as appropriate to their aptitudes and abilities.
Employee consultation
The Group recognises the significant contribution to the business of the commitment and quality of our employees. The Group’s policy is to consult  
and discuss with employees matters likely to affect their interests. This is generally achieved through briefing local centre managers.
Creditor payment policy
It is the Group’s policy that payments to suppliers are made in accordance with the terms and conditions agreed between the Group and its suppliers, 
providing all trading terms are met. Normally this results in payment being made during the month after receipt of an invoice. 
The Company had no trade creditors at the year end.
Substantial shareholdings
At 25 September 2008 the Board had been notified of the following interests representing 3% or more of the Company’s issued share capital:
Holder    No. of shares (‘000) % holding
Ordinary shares of 10 pence each:  
Patron Capital Partners    23,728 29.00%
Fidelity Investments    10,574 12.92%
F&C Asset Management    10,106 12.35%
Schroder Investment Management    4,271 5.22%
C M Littner    3,944 4.82%
Rensburg Sheppards Investment Management    3,600 4.40%
Morley Fund Management    3,219 3.93%
Loeb Partners Corporation    2,701 3.30%
Directors’ statement as to disclosure of information to auditors
The Directors who were members of the Board at the time of approving the Directors’ report are listed on page 12.
Having made enquiries of fellow Directors and of the Group’s auditors, each of these Directors confirms that: 
•	 to 	 t h e 	 b e s t 	 of 	 e a ch 	 D i re c to r ’ s 	 k n ow l e d g e 	 a n d 	 b e l i e f , 	 t h e re 	 i s 	 n o 	 i nfo r m a t i o n 	 re l eva nt 	 to 	 t h e 	 p re p a ra t i o n 	 of 	 t h e i r 	 re p o r t 	 of 	 w h i ch 	 t h e 	 G ro u p ’ s 	 a u d i to r s 	
are unaware; and 
•	 e a ch 	 D i re c to r 	 h a s 	 ta ke n 	 a l l 	 t h e 	 s te ps 	 a 	 D i re c to r 	 m i g ht 	 re a s o n a b ly 	 b e 	 e x p e c te d 	 to 	 h a ve 	 ta ke n 	 to 	 b e 	 a wa re 	 of 	 re l eva nt 	 a u d i t 	 i nfo r m a t i o n 	 a n d 	 to	
establish that the Group’s auditors are aware of that information.
Auditors
A resolution to reappoint Ernst & Young LLP as auditors will be put to the members at the Annual General Meeting. 
On behalf of the Board
Sheena Beckwith Company Secretary
1 October 2008
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
15 Remuneration Report
As an AIM listed company, Powerleague Group plc is not required to comply with Schedule 7A of the Companies Act. 
The Remuneration Committee is chaired by Simon Bentley with Andrew Mallett and Paul Orchard-Lisle as the other members of the Committee.  
The Committee makes recommendations to the Board on an overall remuneration package for the Executive Directors and other senior management.
Remuneration Policy
The Group’s policy on remuneration for 2008 and subsequent financial years is that the overall remuneration package should be sufficiently competitive 
to attract, retain and motivate high-quality individuals capable of achieving the Group’s objectives and thereby enhance shareholder value. The package 
consists of basic salary, benefits, performance-related bonuses, money purchase pension and share options.
The terms of the service agreements between the Company and the Directors are outlined below:
     Notice 
    Date of contract period (months)
Executive Directors
C M Littner    23 May 2005 6
S P Tracey    23 May 2005 6
S M Beckwith    23 May 2005 6
  
Non-Executive Directors
A H Mallett    23 May 2005 2
S A Bentley    23 May 2005 2
K M Breslauer     14 March 2008 2
P D Orchard-Lisle    14 March 2008 2
Term of contract
The Executive Directors’ contracts do not have a fixed term. The Non-Executive Directors have a fixed term of one year, which is renewable on  
two months’ prior notice.
Bonuses
The Executive Directors are entitled to participate in any bonus scheme applicable as may be determined from time to time by the Company.
Pensions
The Executive Directors are entitled to pension payments equivalent to 10% of basic salary into a personal pension plan of the Director’s choice.  
C M Littner receives this amount as salary in lieu of pension contributions.
Fees
The Non-Executive Directors are entitled to receive fees ranging from £20,000 to £22,500 per annum.
At the Annual General Meeting on 24 November 2008, Andrew Mallett and Sean Tracey will retire and, being eligible, offer themselves for re-election. 
Biographical details of all Directors can be found on page 12.
16 Directors’ remuneration
 Total salary  Pension Total Total
 and fees Benefits (i) contribution 2008 2007 (ii)
 £ £ £ £ £
Executive Directors   
C M Littner 136,208 – – 136,208 110,000
S P Tracey 190,000 1,415 13,000 204,415 127,797
S M Beckwith 100,000 1,859 10,000 111,859 111,705
J C Hall 10,000 737 – 10,737 90,232
Non-Executive Directors   
S A Bentley 22,500 – – 22,500 22,500
A H Mallett 22,500 – – 22,500 22,500
K M Breslauer * – – – – –
P D Orchard-Lisle * – – – – –
     –––––––––––––– ––––––––––––––
Total remuneration    508,219 484,734
     –––––––––––––– ––––––––––––––
(i)  The remuneration package of each Executive Director includes the provision of private health insurance.
(ii) Remuneration for the prior year included pension contributions as follows:
 S P Tracey £11,500
 S M Beckwith £10,000
 J C Hall £8,000 
* K M Breslauer and P D Orchard-Lisle have opted to roll their entitlement to fees into the next financial year.
By order of the Board
Sheena Beckwith Company Secretary
1 October 2008
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
17 Statement of Directors’ Responsibilities in Respect of the Financial Statements
The Directors are responsible for preparing the annual report and the financial statements in accordance with applicable United Kingdom law and those 
International Financial Reporting Standards (‘IFRSs’) as adopted by the European Union.
The Directors are required to prepare financial statements for each financial year which present fairly the financial position of the Company and the 
Group and the financial performance and cash flows of the Company and the Group for that period. In preparing those financial statements the Directors 
are required to:
•	 s e l e c t 	 s u i ta b l e 	 a cc o u nt i n g 	 p o l i ci e s 	 i n 	 a cc o rd a n c e 	 w i t h 	 IA S 	 8 : 	 ‘ Acc o u nt i n g 	 Po l i ci e s, 	 Ch a n g e s 	 i n 	 Ac c o u nt i n g 	 Es t i m a te s 	 a n d 	 E r ro r s’ 	 a n d 	 t h e n 	 a p p ly 	 t h e m 	
consistently;
•	 p re s e nt 	 i nfo r m a t i o n , 	 i n cl u d i n g 	 a cc o u nt i n g 	 p o l i ci e s, 	 i n 	 a 	 m a n n e r 	 t h a t 	 p rov i d e s 	 re l eva nt , 	 re l i a b l e , 	 c o m p a ra b l e 	 a n d 	 u n d e r s ta n d a b l e 	 i nfo r m a t i o n ;
•	 p r ov i d e 	 a d d i t i o n a l 	 d i s cl os u re s 	 w h e n 	 c o m p l i a n c e 	 w i t h 	 t h e 	 s p e ci fi c 	 re q u i re m e nt s 	 i n 	 I FR S s 	 i s 	 i n s u f fi ci e nt 	 to 	 e n a b l e 	 us e r s 	 to 	 u n d e r s ta n d 	 t h e 	 i m p a c t 	 
of particular transactions, other events and conditions on financial position and financial performance; and
•	 s ta te 	 t h a t 	 t h e 	 G r o u p 	 h a s 	 c o m p l i e d 	 w i t h 	 I FR S s, 	 s u b j e c t 	 to 	 a ny 	 m a te r i a l 	 d e p a r t u re s 	 d i s cl os e d 	 a n d 	 e x p l a i n e d 	 i n 	 t h e 	 fi n a n ci a l 	 s ta te m e nt s.
The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the 
Company and the Group and enable them to ensure that the financial statements comply with the Companies Act 1985. They are also responsible for 
safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other 
irregularities.
18 Independent Auditor’s Report to the members of Powerleague Group plc
We have audited the Group and Parent Company financial statements (the ‘financial statements’) of Powerleague Group plc for the year ended  
28 June 2008 which comprise the Group income statement, the Group statement of recognised income and expense, the Group balance sheet,  
the Group cash flow statement, Company balance sheet, Company statement of recognised income and expense, Company cash flow statement  
and the related notes 1 to 29. These financial statements have been prepared under the accounting policies set out therein. 
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 auditor’s 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’ responsibilities for preparing the Annual Report and the financial statements in accordance with applicable United Kingdom law and 
International Financial Reporting Standards (IFRSs) as adopted by the European Union are set out in the Statement of Directors’ Responsibilities.
Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and International Standards  
on Auditing (UK and Ireland). We report to you our opinion as to whether the financial statements give a true and fair view and whether the financial 
statements have been properly prepared in accordance with the Companies Act 1985. We also report to you whether in our opinion the information 
given in the Directors’ report is consistent with the financial statements. The information given in the Directors’ report includes that specific information 
presented in the Chairman’s Statement, Chief Executive’s Report and Financial Review that is cross-referred from the Review of Business and future 
developments section of the Directors’ report. In addition, we report to you if, in our opinion, 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 other transactions are not disclosed. We read other information contained in the Annual Report and consider whether it is consistent with  
the audited financial statements. The other information comprises Highlights, Chairman’s Statement, Chief Executive’s report, Financial Review, 
Corporate Governance, Directors, Directors’ Report, Remuneration Report, Notice of AGM and Advisers. 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 International Standards on Auditing (UK and Ireland) 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. It also includes an assessment of 
the significant estimates and judgments made by the Directors in the preparation of the financial statements, and of whether the accounting policies are 
appropriate to the Group’s and Company’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 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.
Opinion
In our opinion:
•	 t h e 	 G r o u p 	 fi n a n ci a l 	 s ta te m e nt s 	 g i ve 	 a 	 t r u e 	 a n d 	 fa i r 	 v i e w , 	 i n 	 a cc o rd a n c e 	 w i t h 	 I FR S s 	 a s 	 a d o pte d 	 b y 	 t h e 	 E u ro p e a n 	 U n i o n , 	 of 	 t h e 	 s ta te 	 of 	 t h e 	 G ro u p ’ s 	
affairs as at 28 June 2008 and of its profit for the year then ended;
•	 t h e 	 p a re nt 	 c o m p a ny 	 fi n a n ci a l 	 s ta te m e nt s 	 g i ve 	 a 	 t r u e 	 a n d 	 fa i r 	 v i e w , 	 i n 	 a cc o rd a n c e 	 w i t h 	 I FR S s 	 a s 	 a d o pte d 	 b y 	 t h e 	 E u ro p e a n 	 U n i o n 	 a s 	 a p p l i e d 	 i n 	
accordance with the provisions of the Companies Act 1985, of the state of the parent company’s affairs as at 28 June 2008;
•	 t h e 	 fi n a n ci a l 	 s ta te m e nt s 	 h a ve 	 b e e n 	 p ro p e r l y 	 p re p a re d 	 i n 	 a c c o rd a n c e 	 w i t h 	 t h e 	 Co m p a n i e s 	 Ac t 	 1 9 8 5 ; 	 a n d
•	 t h e 	 i nfo r m a t i o n 	 g i ve n 	 i n 	 t h e 	 D i re c to r s’ 	 re p o r t 	 i s 	 c o n s i s te nt 	 w i t h 	 t h e 	 fi n a n ci a l 	 s ta te m e nt s.
Ernst & Young LLP Registered auditor          
Glasgow
1 October 2008
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
19     52 weeks  52 weeks
    ended 28 June 2008 ended 30 June 2007
  Notes  £’000  £’000 
Revenue  4  26,338 23,030
Cost of sales    (4,224) (3,946)
    –––––––––––––– ––––––––––––––
Gross profit    22,114 19,084
    –––––––––––––– ––––––––––––––
Administrative expenses    (15,394) (12,994)
Exceptional items  7  (74) (28)
    –––––––––––––– ––––––––––––––
Total administration expenses    (15,468) (13,022)
    –––––––––––––– ––––––––––––––
Operating profit   5  6,646 6,062
    –––––––––––––– ––––––––––––––
Analysed as:   
Operating profit excluding exceptional items    6,720 6,090
Exceptional items  7  (74) (28)
    –––––––––––––– ––––––––––––––
Finance revenue – bank interest    2 6
Finance costs  8  (1,685) (1,110)
    –––––––––––––– ––––––––––––––
Profit for the year before tax    4,963 4,958
Tax expense  9  (1,632) (1,299)
    –––––––––––––– ––––––––––––––
Profit for the year    3,331 3,659
    –––––––––––––– ––––––––––––––
Earnings per ordinary share   
 – basic and diluted  10  4.07 4.47
    –––––––––––––– ––––––––––––––
Group Statement of Recognised Income and Expense for the year ended 28 June 2008
    52 weeks  52 weeks
    ended 28 June 2008 ended 30 June 2007
    £’000  £’000 
Profit for the year    3,331 3,659
    –––––––––––––– ––––––––––––––
Total recognised income and expense for the year attributable  
to equity holders of the parent    3,331 3,659
    –––––––––––––– ––––––––––––––
 
Group Income Statement for the year ended 28 June 2008
20 Group Balance Sheet as at 28 June 2008
    As at As at 
    28 June 2008  30 June 2007
  Notes  £’000  £’000 
Non-current assets   
Property, plant and equipment  12  48,817 43,940
Intangible assets  13  17,386 258
Other receivables  14  152 302
    –––––––––––––– ––––––––––––––
     66,355 44,500
    –––––––––––––– ––––––––––––––
Current assets   
Inventories    194 158
Trade and other receivables  14  2,233 1,516
Cash and cash equivalents  15  570 549
    –––––––––––––– ––––––––––––––
     2,997 2,223
    –––––––––––––– ––––––––––––––
Total assets     69,352 46,723
    –––––––––––––– ––––––––––––––
Current liabilities   
Trade and other payables  16  3,255 3,310
Taxation payable    272 571
Financial liabilities  17  6,722 4,991
    –––––––––––––– ––––––––––––––
     10,249 8,872
    –––––––––––––– ––––––––––––––
Non-current liabilities   
Other payables  16  252 329
Financial liabilities  17  32,280 14,060
Deferred tax liabilities  20  4,855 4,164
    –––––––––––––– ––––––––––––––
     37,387 18,553
    –––––––––––––– ––––––––––––––
Total liabilities     47,636 27,425
    –––––––––––––– ––––––––––––––
Net assets     21,716 19,298
     –––––––––––––– ––––––––––––––
Equity 
Called up share capital  21  8,182 8,182
Share premium account  22  7,287 7,287
Merger reserve  22  (4,999) (4,999)
Retained earnings  22  11,246 8,828
    –––––––––––––– ––––––––––––––
Total equity    21,716 19,298
    –––––––––––––– ––––––––––––––
These financial statements were approved by the Board of Directors on 1 October 2008.
Sheena Beckwith Director 
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
21     52 weeks  52 weeks
    ended 28 June 2008 ended 30 June 2007
  Notes  £’000  £’000 
Net cash flow from operating activities  23  6,896 6,421
    –––––––––––––– ––––––––––––––
Cash flows from investing activities   
Purchase of property, plant and equipment    (6,355) (4,790)
Sale of property, plant and equipment    –  45
Acquisition of subsidiary undertakings   13  (18,077) – 
Interest received    2 6
    –––––––––––––– ––––––––––––––
Net cash flow from investing activities    (24,430) (4,739)
    –––––––––––––– ––––––––––––––
Cash flows from financing activities   
Interest paid    (1,484) (1,170)
Dividends paid to shareholders    (900) (614)
New borrowings    24,385 17,633
Repayment of borrowings    (3,852) (17,860)
    –––––––––––––– ––––––––––––––
Net cash flow from financing activities    18,149 (2,011)
    –––––––––––––– ––––––––––––––
Net increase/(decrease) in cash and cash equivalents    615 (329)
Cash and cash equivalents at beginning of year  15  (927) (598)
    –––––––––––––– ––––––––––––––
Cash and cash equivalents at end of year  15  (312) (927)
    –––––––––––––– ––––––––––––––
 
Group Cash Flow Statement for the year ended 28 June 2008
22 Company Balance Sheet for the year ended 28 June 2008
    As at As at 
    28 June 2008  30 June 2007
  Notes  £’000  £’000 
Non-current assets 
Investments  28  22,000 22,000
    –––––––––––––– ––––––––––––––
     22,000 22,000
    –––––––––––––– ––––––––––––––
 
Current assets
Trade and other receivables  14  12,463 11,190
    –––––––––––––– ––––––––––––––
Total assets     34,463 33,190
    –––––––––––––– ––––––––––––––
Current liabilities   
Taxation payable    130 157
    –––––––––––––– ––––––––––––––
Total liabilities     130 157
    –––––––––––––– ––––––––––––––
Net assets     34,333 33,033
    –––––––––––––– ––––––––––––––
Represented by:
Equity   
Called up share capital  21  8,182 8,182
Share premium account  22  7,287 7,287
Merger reserve  22  16,974 16,974
Retained earnings  22  1,890 590
    –––––––––––––– ––––––––––––––
Total equity    34,333 33,033
    –––––––––––––– ––––––––––––––
Sheena Beckwith Director
1 October 2008
Company Statement of Recognised Income and Expense for the year ended 28 June 2008
    52 weeks  52 weeks
    ended 28 June 2008 ended 30 June 2007
    £’000  £’000 
Profit for the year    2,200 953
    –––––––––––––– ––––––––––––––
Total recognised income and expense for the year attributable  
to equity holders of the parent    2,200 953
    –––––––––––––– ––––––––––––––
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
23     52 weeks  52 weeks
    ended 28 June 2008 ended 30 June 2007
  Notes  £’000  £’000 
Net cash flow from operating activities  23  (310) (294)
    –––––––––––––– ––––––––––––––
Cash flows from investing activities   
Interest received    602 618
Dividends received    1,881 614
Amounts advanced to subsidiary    (1,273) (324)
    –––––––––––––– ––––––––––––––
Net cash flow from investing activities    1,210 908
    –––––––––––––– ––––––––––––––
Cash flows from financing activities   
Dividends paid to shareholders    (900) (614)
    –––––––––––––– ––––––––––––––
Net increase in cash and cash equivalents    – –
Cash and cash equivalents at beginning of year    – –
    –––––––––––––– ––––––––––––––
Cash and cash equivalents at end of year    – –
    –––––––––––––– ––––––––––––––
Company Cash Flow Statement for the year ended 28 June 2008
24 1 General information
The financial information comprises the financial information of Powerleague Group plc (the ‘Group’) for a period of 52 weeks to 28 June 2008 (‘2008’). 
The previous period was 52 weeks to 30 June 2007 (‘2007’). Powerleague Group plc is an AIM listed company incorporated in the United Kingdom under 
the Companies Act 1985, and its wholly owned subsidiaries, as detailed in note 28 (‘the Group’). 
The principal activity of the Group is to develop and manage 5-a-side football centres. At the year end, the Group operated from 43 centres throughout 
the UK, all but two of which are freehold or long leasehold.
The consolidated financial statements of the Group for the year ended 28 June 2008 were authorised for issue in accordance with a resolution of the 
Directors on 1 October 2008.
2 Accounting policies
Basis of preparation
The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (‘IFRS’) as adopted by the 
European Union as they apply to the financial statements of the Group for the year ended 28 June 2008 and applied in accordance with the Companies 
Act 1985. The accounting policies which follow set out those policies which apply in preparing the financial statements for the year ended 28 June 2008.
The consolidated financial information has been prepared on a going concern basis under the historical cost convention. The Group financial information 
is presented in pounds sterling and all values are rounded to the nearest thousand (£’000) unless otherwise indicated.
Changes in accounting policy
The accounting policies adopted are consistent with those of the previous financial year except as follows:
The Group has adopted the following new and amended IFRS and IFRIC interpretations during the year. Adoption of these revised standards and 
interpretations did not have any effect on the financial performance or position of the Group in the current or prior periods, although in certain cases, 
they did give rise to additional disclosures.
IFRS 7 Financial Instruments: Disclosures
IAS 1 Amendment – Presentation of Financial Statements: Capital Disclosures
IFRIC 8 Scope of IFRS 2
IFRIC 9 Reassessment of Embedded Derivatives
IFRIC 10 Interim Financial Reporting and Impairment
IFRIC 11 IFRS 2 – Group and Treasury Share Transactions 
IFRS 7 Financial Instruments: Disclosures
This standard requires disclosures that enable users of the financial statements to evaluate the significance of the Group’s financial instruments and the 
nature and extent of risks arising from those financial instruments. The new disclosures are included throughout the financial statements. While there 
has been no effect on the financial position or results, comparative information has been revised where necessary.
IAS 1 Presentation of Financial Statements
This amendment requires the Group to make new disclosures to enable users of the financial statements to evaluate the Group’s objectives, policies  
and processes for managing capital. These new disclosures are shown in the capital management section of the Financial Review.
IFRIC 8 Scope of IFRS 2
This interpretation requires IFRS 2 to be applied to any arrangements in which the entity cannot identify specifically some or all of the goods received, 
in particular where equity instruments are issued for consideration which appears to be less than fair value. As equity instruments are only issued to 
employees in accordance with the employee share scheme, the interpretation has no impact on the financial position or performance of the Group.
IFRIC 9 Reassessment of Embedded Derivatives
IFRIC 9 states that the date to assess the existence of an embedded derivative is the date that an entity first becomes a party to the contract,  
with reassessment only if there is a change to the contract that significantly modifies the cash flows. As the Group has no embedded derivative  
requiring separation from the host contract, the interpretation has no impact on the financial position or performance of the Group.
IFRIC 10 Interim Financial Reporting and Impairment
IFRIC 10 requires that an entity must not reverse an impairment loss recognised in a previous interim period in respect of goodwill or an investment in 
either an equity instruments or a financial asset carried at cost. As the Group had no impairment losses previously reversed, the interpretation had no 
impact on the financial position or performance of the Group.
Notes to the Financial Information
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
25 2 Accounting policies Continued
IFRIC 11 IFRS 2 – Group and Treasury Share Transactions
IFRIC 11 requires arrangements whereby an employee is granted rights to an entity’s instruments to be accounted for as an equity-settled scheme,  
even if the entity buys the instruments from another party, or the shareholders provide the equity instruments needed. As the Group had no such 
arrangement, the interpretation has no impact on the financial position or performance of the Group.
Basis of consolidation
The consolidated financial information consolidates the financial information of Powerleague Group plc and its subsidiary undertakings drawn up  
to 28 June 2008. The financial statements, which have been prepared using UK GAAP merger accounting principles, present the results of the Group  
as if Powerleague Group plc had been in existence and had owned Powerleague Fives Ltd and its subsidiaries for the whole period under review.  
Under this approach the difference that arose between the nominal value of shares given and shares received on a group reorganisation is recognised 
within a separate reserve, the merger reserve.
Subsidiaries are fully consolidated from the date of acquisition, being the date on which the Group obtains control, and continue to be consolidated 
until the date that such control ceases. All intra-group balances, transactions, income and expenses and profits and losses resulting from intra-group 
transactions that are recognised in assets, are eliminated in full.
In the Company’s financial statements investments in subsidiary undertakings are stated at cost unless, in the opinion of the Directors, there has been  
an impairment in their value, in which case they are immediately written down to their estimated recoverable amount.
Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided 
in the normal course of business, net of discounts, VAT and other sales-related taxes. Income arising directly from the use of the operating facilities 
is recognised in the income statement in the period in which the use of the facilities takes place. Where deposits are received, these are held on the 
balance sheet and released to profit when the event or period of use is complete. Sponsorship income is recognised in the income statement over the 
period of the sponsorship contract and to offset sponsorship-related expenditure.
Goodwill
Business combinations on or after 3 July 2005 have been accounted for under IFRS 3 using the purchase method. Any excess of the cost of the business 
combination over the Group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities is recognised in the balance 
sheet as goodwill and is not amortised. To the extent that the net fair value of the acquired entity’s identifiable assets, liabilities and contingent liabilities 
is greater than the cost of the investment, a gain is recognised immediately in the income statement. After initial recognition, goodwill is stated at its 
carrying value less any accumulated impairment losses, with the value being reviewed for impairment at least annually or when events or circumstances 
indicate that the carrying value might be impaired. For the purposes of impairment, goodwill is allocated to the related cash-generating unit monitored 
by management, at segment level or statutory company level as may be appropriate. Where the recoverable amount of a cash-generating unit is less 
that its carrying amount, including goodwill, an impairment loss is recognised in the income statement. The carrying value of goodwill allocated to a 
cash-generating unit is taken into account when determining the gain or loss on disposal of the unit or of an operation within it.
Intangible assets
Intangible assets acquired as part of a business combination are recognised outside goodwill if the asset is separable or arises from contractual or other 
legal rights and their fair value can be measured reliably. Amortisation is applied on a straight-line basis over the expected useful lives of the assets 
with charges included within administrative expenses. The carrying value of intangible assets is reviewed for impairment when events or circumstances 
indicate that the carrying value might be impaired. 
The following amortisation period has been applied in these financial statements:
Customer relationships  5 years
Order Backlog 1 year
Property, plant and equipment
Property, plant and equipment are stated at cost, less accumulated depreciation and any accumulated impairment in value. Such cost includes the cost 
of replacing part of the plant and equipment if the recognition criteria are met. Borrowing costs directly attributable to assets under construction are 
capitalised as incurred.
Depreciation is calculated to write off the cost less estimated residual value of all tangible assets over their expected useful economic life. The rates 
generally applicable are:
Head office property 25 years
Operating facilities excluding pitch surfaces 50 years or length of lease remaining
Pitch surfaces lesser of 10 years and the remaining useful economic life
Fixtures, fittings and equipment 10 years
Computer equipment 3 years
Notes to the Financial Information Continued
26 Impairment of assets
At each balance sheet date, the Group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any  
indication that those assets have suffered an impairment loss. If any such indication exists, or when annual impairment testing for an asset is required,  
the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where the asset does not generate cash 
flows that are independent from other assets, the Group estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are 
discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific 
to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset  
(or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised as an expense immediately. 
For assets other than goodwill, where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased 
to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been 
determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised 
as income immediately. 
Inventories
Inventories are stated at the lower of cost and net realisable value. Net realisable value represents the estimated selling price less all estimated costs  
of completion and selling costs.
Trade and other receivables
The only financial assets held are trade and other receivables. Trade receivables, which generally have 30-90 day terms, are recognised and carried 
at the lower of their original invoiced value and recoverable amount. Where the time value of money is material, receivables are carried at amortised 
cost. Provision is made when there is objective evidence that the Group will not be able to recover balances in full. Balances are written off when the 
probability of recovery is assessed as being remote.
Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand. For the purpose of the Consolidated Cash Flow Statement,  
cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts. 
Overdrafts
Bank overdrafts are shown within borrowings in current financial liabilities. Bank overdrafts form part of net cash and cash equivalents for the purpose  
of the Consolidated Cash Flow Statement.
Leases
Leases are recognised as operating leases where the lessor retains a significant portion of the risks and benefits of ownership of the asset.  
Operating lease rentals are charged to the income statement on a straight-line basis over the term of the relevant lease. 
Taxation
Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, based on tax rates  
and laws that are enacted or substantively enacted by the balance sheet date.
Deferred income tax is recognised on all temporary differences arising between the tax bases of assets and liabilities and their carrying amounts  
in the financial statements, with the following exceptions:
•	 w h e re 	 t h e 	 te m p o r a r y 	 d i f fe re n c e 	 a r i s e s 	 f ro m 	 t h e 	 i n i t i a l 	 re c o g n i t i o n 	 of 	 g o o d w i l l 	 o r 	 of 	 a n 	 a s s et 	 o r 	 l i a b i l i t y 	 i n 	 a 	 t ra n s a c t i o n 	 t h a t 	 i s 	 n ot 	 a 	 b us i n e s s 	
combination that at the time of the transaction affects neither accounting nor taxable profit or loss;
•	 i n 	 re s p e c t 	 of 	 ta xa b l e 	 te m p o ra r y 	 d i f fe re n c e s 	 a s s o ci a te d 	 w i t h 	 i nve s t m e nt s 	 i n 	 s u bs i d i a r i e s, 	 w h e re 	 t h e 	 t i m i n g 	 of 	 t h e 	 reve r s a l 	 of 	 t h e 	 te m p o ra r y 	 d i f fe re n c e s 	
can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future; and/or
•	 d efe r re d 	 i n c o m e 	 ta x 	 a s s e t s 	 a re 	 re c o g n i s e d 	 o n l y 	 to 	 t h e 	 e x te nt 	 t h a t 	 i t 	 i s 	 p ro b a b l e 	 t h a t 	 ta xa b l e 	 p rofi t 	 w i l l 	 b e 	 a va i l a b l e 	 a g a i n s t 	 w h i ch 	 t h e 	 d e d u c t i b l e 	
temporary differences, carried forward tax credits or tax losses can be utilised.
Deferred income tax assets and liabilities are measured on an undiscounted basis at the tax rates that are expected to apply when the related asset  
is realised or liability is settled, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Income tax is charged or credited directly to equity if it relates to items that are credited or charged to equity. Otherwise income tax is recognised  
in the income statement.
Trade and other payables
Trade payables are recognised and carried at their original invoiced value. Where the time value of money is material, payables are carried  
at amortised cost. 
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
27 2 Accounting policies Continued
Deferred grants
Deferred grants in respect of capital expenditure are credited to a deferred income account and are released to the income statement by equal annual 
instalments over the expected useful economic lives of the relevant assets.
Interest bearing loans and borrowing costs
Obligations for loans and borrowings are recognised when the Group becomes party to the related contracts and are measured initially at fair value 
less directly attributable transaction costs. After initial recognition, interest bearing loans and borrowings are subsequently measured at amortised cost 
using the effective interest method. Costs in relation to term loans are deducted from the loans and are charged to the income statement at a constant 
rate over the term of the loan to which they relate.
Retirement benefit costs
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Equity instruments
Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.
Exceptional items
The Group presents as exceptional items on the face of the income statement, those material items of income and expense which, because of the  
nature and expected infrequency of the events giving rise to them, merit separate presentation to allow shareholders to understand better the elements 
of financial performance in the year, so as to facilitate comparison with prior periods and assessment of trends in financial performance.
Share-based payments
The cost of equity-settled transactions with employees is measured by reference to the fair value at the date at which they are granted and is  
recognised as an expense over the vesting period, which ends on the date on which the relevant employees become fully entitled to the award.  
Fair value is determined by an external valuer using an appropriate pricing model. In valuing equity-settled transactions, no account is taken of  
any vesting conditions, other than conditions linked to the price of the shares of the Company (market conditions).
No expense is recognised for awards that do not ultimately vest, except for awards where vesting is conditional upon a market condition, which are 
treated as vesting irrespective of whether or not the market condition is satisfied, provided that all other performance conditions are satisfied.
At each balance sheet date before vesting, the cumulative expense is calculated, representing the extent to which the vesting period has expired and 
management’s best estimate of the achievement or otherwise of non-market conditions and of the number of equity instruments that will ultimately vest 
or, in the case of an instrument subject to a market condition, be treated as vesting as described above. The movement in cumulative expense since the 
previous balance sheet date is recognised in the income statement, with a corresponding entry in equity.
Where the terms of an equity-settled award are modified or a new award is designated as replacing a cancelled or settled award, the cost based on the 
original award terms continues to be recognised over the original vesting period. In addition, an expense is recognised over the remainder of the new 
vesting period for the incremental fair value of any modification, based on the difference between the fair value of the original award and the fair value 
of the modified award, both as measured on the date of the modification. No reduction is recognised if this difference is negative.
Where an equity-settled award is cancelled, it is treated as if it had vested on the date of cancellation, and any cost not yet recognised in the income 
statement for the award is expensed immediately. Any compensation paid up to the fair value of the award at the cancellation or settlement date is 
deducted from equity, with any excess over fair value being treated as an expense in the income statement.
 
Notes to the Financial Information Continued
28 New standards and interpretations not applied
The following standards and interpretations have not been applied in the consolidated financial information as, although in issue at the date of 
preparation, they were not effective for the periods covered by this consolidated financial information:  
    
     Effective date *
IFRS1 and IAS 27 ‘Amendments for determining the cost of an investment in separate financial statements’   1 January 2009
IFRS 2 ‘Share-based payments (revised)’     1 January 2009
IFRS 3 ‘Business Combinations (revised)’     1 July 2009
IFRS 8 ‘Operating Segments’     1 January 2009
IAS 1 ‘Presentation of Financial Statements (revised)’     1 January 2009
IAS 23 ‘Borrowing Costs (revised)’     1 January 2009
IAS 27 ‘Consolidated and separate financial statements (revised)’     1 July 2009
IAS 32 and IAS 1 ‘Puttable financial instruments and obligations arising on liquidation’    1 January 2009
IAS 39 ‘Eligible hedge items (revised)’     1 January 2009
IFRIC 12 ‘Service Concession Arrangements’     1 January 2008
IFRIC 13 ‘Customer Loyalty Programmes’     1 July 2008
IFRIC 14 ‘IAS 19 The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction’    1 January 2008
IFRIC 15 ‘Agreements for the construction of real estate’     1 January 2009
IFRIC 16 ‘Hedges of a net investment in a foreign operation’     1 January 2009
Improvements to IFRSs (May 2008)     1 January 2009
While the revised IAS 1 will have no impact on the measurement of the Group’s results or net assets, it is likely to result in certain changes in the 
presentation of the Group’s financial statements from 2009 onwards.
IAS 39 will be applicable to the Group in the year ended 27 June 2009 as hedging arrangements were put in place in July 2008 and the Group is currently 
assessing the impact on its financial statements.
The Group does not anticipate early adopting the revised IFRS 3 and so will apply it prospectively to all business combinations on or after 1 July 2009. 
Whilst it is not possible to estimate the outcome of adoption, the key features of the revised IFRS 3 include a requirement for acquisition-related costs 
to be expensed and not recognised in the purchase price, and for contingent consideration to be recognised at fair value on acquisition date  
(with subsequent recognised in the income statement and not as a change to goodwill). 
The Directors do not anticipate that the adoption of the remaining standards and interpretations on or after 29 June 2008 will have a material impact  
on the financial statements of the Group.
*  The effective dates stated here are those given in the original IASB/IFRIC standards and interpretations. As the Group prepares financial statements 
in accordance with IFRS as adopted by the European Union, the application of new standards and interpretations will be subject to their having been 
endorsed for use in the EU via the EU Endorsement mechanism. In the majority of cases this will result in an effective date consistent with that given  
in the original standard or interpretation but the need for endorsement restricts the Group’s discretion to adopt standards early.
3 Critical accounting assumptions and key sources of estimation uncertainty
The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported 
for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of 
estimation means that actual outcomes could differ from those estimates. 
The only assumption concerning the future and other key sources of estimation uncertainty at the balance sheet date that has the potential to cause  
a material adjustment to the carrying amounts of assets and liabilities within the next financial year relates to the impairment of assets. 
The Group assesses whether there are any indicators of impairment for assets at each reporting date. Goodwill is tested for impairment at least annually 
or when there are indicators that the carrying amounts may not be recoverable. When value in use calculations are undertaken, management must 
estimate the expected future cash flows from the asset or cash generating unit and choose a suitable discount rate in order to calculate the present 
value of those cash flows. Further details are given in note 13.
 
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
29 4 Segment reporting
The Group has one business activity, being the operation of 5-a-side football centres, and one geographical segment, the UK. Operating 5-a-side 
centres involves earning revenues from the hiring of pitches, hosting leagues and corporate events, operating function rooms and bars and associated 
sponsorship income. All corporate overheads are allocable to the Group’s one business activity and, therefore, no further segmental information is 
provided. Revenue recognised in the income statement is analysed as follows:
    52 weeks  52 weeks
    ended 28 June 2008 ended 30 June 2007
    £’000  £’000 
Rendering of services    21,351 18,210
Sale of goods    4,987 4,820
    –––––––––––––– ––––––––––––––
     26,338 23,030
    –––––––––––––– ––––––––––––––
Finance revenue    2 6
    –––––––––––––– ––––––––––––––
    
5 Profit before financing and taxation
The profit on ordinary activities before taxation is stated after charging/(crediting):
    52 weeks  52 weeks
    ended 28 June 2008 ended 30 June 2007
    £’000  £’000 
Depreciation of property, plant and equipment    2,302 2,279
Amortisation of intangible assets    125 –
Operating lease payments:    
 Minimum lease payments – land and buildings    1,471 875
  – other    128 71
 Contingent rents    42 43
Cost of inventories recognised as an expense    2,199 1,937
Auditors’ remuneration:    
 Audit services    40 36
 Taxation services    8 8
 Corporate finance services    3 27
 Other services    84 11
Deferred grants    (1) (1)
    –––––––––––––– ––––––––––––––
Audit fees included above relating to the Company amounted to £12,000 (2007: £12,000). 
The Company has taken advantage of the exemption allowed under section 230 of the Companies Act 1985 and has not presented its own income 
statement in these financial statements. The Company profit for the year ended 28 June 2008 is £2,200,000 (2007: £953,000).
6 Employee costs
 
Staff costs, including Directors, consist of:
    52 weeks  52 weeks
    ended 28 June 2008 ended 30 June 2007
    £’000  £’000 
Wages and salaries    6,065 5,268
Social security costs    460 407
Pension costs    72 74
    –––––––––––––– ––––––––––––––
     6,597 5,749
    –––––––––––––– ––––––––––––––
Notes to the Financial Information Continued
30 The average monthly number of employees of the Group during the year was as follows:
    52 weeks  52 weeks
    ended 28 June 2008 ended 30 June 2007
    Number Number
Administration    27 25
Centre based staff    658 527
    –––––––––––––– ––––––––––––––
     685 552
    –––––––––––––– ––––––––––––––
Directors’ emoluments consist of:
    52 weeks  52 weeks
    ended 28 June 2008 ended 30 June 2007
    £’000  £’000 
Emoluments    485 445
Pension contributions towards defined contribution pension plans    23 40
    –––––––––––––– ––––––––––––––
     508 485
    –––––––––––––– ––––––––––––––
Emoluments and pension contributions of the highest paid Director consist of:
    52 weeks  52 weeks
    ended 28 June 2008 ended 30 June 2007
    £’000  £’000 
Emoluments of the highest paid Director    191 116
Pension contributions towards defined contribution pension plans    13 11
    –––––––––––––– ––––––––––––––
     204 127
    –––––––––––––– ––––––––––––––
Number of Directors who were members of a defined contribution pension scheme:
Number of Directors    2 3
    –––––––––––––– ––––––––––––––
 
7 Exceptional items
    52 weeks  52 weeks
    ended 28 June 2008 ended 30 June 2007
    £’000  £’000 
Costs incurred in conversion to IFRS accounting    74 –
Loss on sale of assets    – 28
    –––––––––––––– ––––––––––––––
     74 28
    –––––––––––––– ––––––––––––––
8 Finance costs
    52 weeks  52 week
    ended 28 June 2008 ended 30 June 2007
    £’000  £’000 
Interest on bank loans and overdrafts    1,673 1,101
Amortisation of loan issue costs    12 9
    –––––––––––––– ––––––––––––––
Finance costs    1,685 1,110
    –––––––––––––– ––––––––––––––
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
31 9 Taxation
Tax on profit on ordinary activities
The charge for taxation on profit for the year comprises:
    52 weeks  52 week
    ended 28 June 2008 ended 30 June 2007
    £’000  £’000 
Current tax:    
UK corporation tax    1,011 1,329
Adjustment in respect of prior years    (70) (57)
    –––––––––––––– ––––––––––––––
     941 1,272
    –––––––––––––– ––––––––––––––
Deferred tax: (note 20)    
Origination and reversal of temporary differences    639 306
Adjustment in respect of prior years    52 – 
Effect of reduction in tax rate from 30% to 28%    –  (279)
     –––––––––––––– ––––––––––––––
     691 27
    –––––––––––––– ––––––––––––––
     1,632 1,299
    –––––––––––––– ––––––––––––––
UK corporation tax is calculated at 29.5% (2007: 30%) of the estimated assessable profit for the year. 
Reconciliation of the total tax charge
The charge for the year can be reconciled to the profit for the year before taxation per the consolidated income statement as follows:
    52 weeks  52 week
    ended 28 June 2008 ended 30 June 2007
    £’000  £’000
Profit for the year before taxation    4,962 4,958
Profit for the year before taxation multiplied by the effective rate of  
 corporation tax in the UK of 29.5% (2007: 30%)    1,464 1,487
Effects of:   
 Expenses not deductible for tax purposes    220 136
 Adjustment in respect of rate changes    (34) (279)
 Adjustment in respect of prior years    (18) (57)
 Other     – 12
    –––––––––––––– ––––––––––––––
Charge for taxation on profit for the year     1,632 1,299
    –––––––––––––– ––––––––––––––
Factors that may affect future tax charges
A deferred tax asset has not been recognised in respect of timing differences relating to non-trading deficits and capital losses as there is insufficient 
evidence that the assets will be recovered. The amount of the asset not recognised is £606,000 (2007: £607,000). The asset would be recovered if 
appropriate future taxable profits are made.
Notes to the Financial Information Continued
32 10 Earnings per share
Basic earnings per ordinary 10p share is calculated by dividing the earnings attributable to ordinary shareholders by the weighted average number of 
ordinary shares in issue during the year, which was 81,820,000 (2007: 81,820,000).
Diluted earnings per share is calculated by dividing the earnings attributable to ordinary shareholders by the weighted average number of ordinary 
shares outstanding during the year plus the weighted average number of ordinary shares that would be issued on the conversion of all the dilutive 
potential ordinary shares into ordinary shares. For the year ended 28 June 2008, this was 81,820,000 (2007: 81,954,000).
   2008  2007
  –––––––––––––––––––––––––––––––––– ––––––––––––––––––––––––––––––––––
  Profit for the year Earnings per share Profit for the year Earnings per share
  £’000 pence £’000 pence
Basic earnings per share  3,331 4.07 3,659 4.47
  –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
Diluted earnings per share  3,331 4.07 3,659 4.47
  –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
    2008 2007
    No. (‘000) No. (‘000)
Basic weighted average number of shares    81,820 81,820
Dilutive potential ordinary shares:   
 Employee share options    – 134
    –––––––––––––– ––––––––––––––
Diluted weighted average number of shares    81,820 81,954
    –––––––––––––– ––––––––––––––
11 Dividends paid and proposed
 
    2008 2007
    £’000 £’000
Declared and paid during the year:   
Equity dividends on ordinary shares:   
Final dividend for 2007: 1.1p (2006: 0.75p)    900 614
    –––––––––––––– ––––––––––––––
Dividends paid    900 614
    –––––––––––––– ––––––––––––––
Proposed for approval by shareholders at the AGM:    
Final dividend for 2008: 1.1p (2007: 1.1p)    900 900
    –––––––––––––– ––––––––––––––
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
33 12 Property, plant and equipment 
 
Group
 Long leasehold and freehold property
 –––––––––––––––––––––––––––––––––– 
 Head office Operating Equipment,  Computer Assets under
 property facilities  fixtures & fittings equipment  construction Total
 £’000 £’000 £’000 £’000 £’000 £’000
Cost      
At 1 July 2007 501 52,960 3,467 1,552 2,602 61,082
Additions 218 5,119 723 295 – 6,355
Acquisition of subsidiary – – 824 – – 824
Transfers – 2,602 – – (2,602) –
 –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
At 28 June 2008 719 60,681 5,014 1,847 – 68,261
 –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
Accumulated depreciation     
At 1 July 2007 69 13,573 2,321 1,179 – 17,142
Charge for the year 10 1,751 297 244 – 2,302
 –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
At 28 June 2008 79 15,324 2,618 1,423 – 19,444
 –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
Net book value      
At 28 June 2008 640 45,357 2,396 424 – 48,817
 –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
At 30 June 2007 432 39,387 1,146 373 2,602 43,940
 –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
At 28 June 2008, the Group had entered into contractual commitments for expenditure on property, plant and equipment amounting to £400,000  
(2007: £2,502,000).
The net book value of long leasehold and freehold property, which includes Head Office property and Operating facilities, comprises:
   
    As at As at
    28 June 2008  30 June 2007
    £’000 £’000 
Freehold property    1,542 1,534
Long leasehold property    44,455 38,285
    –––––––––––––– ––––––––––––––
     45,997 39,819
    –––––––––––––– ––––––––––––––
Notes to the Financial Information Continued
34 13 Intangible assets
 
Group
   Order Customer   
  Goodwill  backlog  relationships  Total 
  £’000 £’000 £’000 £’000
Cost:   
At 1 July 2007  258 – – 258
Acquisition of subsidiary undertaking  16,024 161 1,068 17,253
  –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
At 28 June 2008  16,282 161 1,068 17,511
  –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
Amortisation:   
At 1 July 2007  – – – –
Charge for the year  – 54 71 125
  –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
At 28 June 2008  – 54 71 125
  –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
Net book value at 28 June 2008  16,282 107 997 17,386
  –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
Net book value at 30 June 2007  258 – – 258
  –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
On 26 February 2008, the Group acquired five indoor centres from JJB Sports plc. 
Fair value table
    Book value Fair value on 
    Fair value on acquisition 
    £’000 £’000
Tangible Fixed assets    824 824
Intangible assets (see note (a) below)     – 1,229
    –––––––––––––– ––––––––––––––
Net assets    824 2,053
    –––––––––––––– ––––––––––––––
Goodwill arising     16,024
     ––––––––––––––
      18,077
     ––––––––––––––
Discharged by:     
Purchase price     17,426
Costs associated with the acquisition     651
     ––––––––––––––
      18,077
     ––––––––––––––
Note (a) – The intangible assets represent the fair value of customer relationships and backlog orders which were in place at the date of acquisition. 
Their fair value has been calculated in accordance with IFRS 3 by Grant Thornton, LLP, Chartered Accountants on a discounted cash flow basis, based on 
estimates supplied by management. Included in the £16,024,000 of goodwill recognised above are certain intangible assets that cannot be individually 
separated and reliably measured due to their nature. These items include the expected value of synergies and an assembled workforce.
The amount of net profit generated by these centres since the acquisition date was £44,000. If the combination had taken place at the beginning  
of the financial year, the profit for the Group would have been £3,592,000 and revenue from continuing operations would have been £30,713,000.  
Cash generated by these centres cannot readily be disclosed as cash, debtors and creditors are accounted for across the whole business and are  
not separable.
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
35 13 Intangible assets Continued
Impairment of goodwill
Goodwill acquired through business combinations has been allocated for impairment testing purposes to two cash generating units as follows:
•	 B o l to n 	 c e nt re
•	 S o c c e r 	 D o m e s
Carrying amount of goodwill allocated to cash generating units
     As at  As at
    28 June 2008 30 June 2007 
    £’000 £’000
Bolton centre    258 258
Soccer Domes     16,024 –
    –––––––––––––– ––––––––––––––
     16,282 258
    –––––––––––––– ––––––––––––––
The recoverable amount of these cash generating units has been determined based on a value in use calculation, using discounted cash flow arising 
from operating performance based on financial projections approved by the Board covering a four-year period. These projections are then extended  
out to 20 years or the term of the lease, whichever is shorter. Management believe this review period is reasonable given the long-term nature of  
the industry.
The calculation of value in use is most sensitive to the assumptions in relation to operating performance, discount factor and growth beyond the forecast 
period. Operating performance forecasts include assumptions in relation to sales growth, gross margin and operating costs which are based on historical 
averages, adapted for such factors as general inflation, operating efficiencies and utilities price inflation, and result in an average growth rate of 3%.  
The discount factor used is 6% which is management’s estimate of cost of capital within the business. Growth rate beyond the forecast period is 3%,  
which is management’s estimate of long-term growth rates in mature centres within the industry, taking into account current economic pressures.
Management consider that the only reasonably possible change in these assumptions which could significantly alter the value in use of these units 
would be the impact of new entrants to the commercial 5-a-side market, which could impact operating performance growth both within and beyond  
the forecast period. There are, however, significant barriers to entry in the industry, which is evidenced by the fact that there are only two major 
companies currently operating in this sector.
14 Trade and other receivables
 
  Group  Company
  –––––––––––––––––––––––––––––––––– ––––––––––––––––––––––––––––––––––
  As at 28 June  As at 30 June As at 28 June As at 30 June
  2008  2007 2008 2007
  £’000 £’000 £’000 £’000
Non-current assets
Other receivables  152 302 – –
   –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
Current assets
Trade receivables  1,005 990 – –
Prepayments and accrued income  1,228 526 – –
Amounts due from related parties  – – 12,463 11,190
   –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
   2,233 1,516 12,463 11,190
   –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
Included within other receivables is an amount of £Nil (2007: £200,000) deposited with third parties. This related to a sum which was held on escrow by 
the seller of the former VIDA centres acquired in 2005 as conditional consideration for the purchase of the centre at Warrington. The conditions permitting 
return of the funds to the Group were not met by the first deadline of 25 May 2008 and thus the conditional consideration was released to the vendor  
at that date.
The carrying value of trade and other receivables is considered to be substantially the same as their fair value. 
Trade receivables are non-interest bearing and generally on 30-90 day terms. Amounts due from related parties have no fixed terms of repayment.  
At 28 June 2008 and 30 June 2007 no receivables were considered past due and, accordingly, none were impaired or provided against.
Notes to the Financial Information Continued
36 15 Cash and cash equivalents
 
Group
Cash and cash equivalents comprise cash held by the Group and short-term bank deposits with an original maturity of three months or less.  
The carrying amount of these assets approximates their fair value.
Analysis of cash and cash equivalents disclosed in the cash flow statement:
    As at As at
      28 June 2008 30 June 2007
    £’000 £’000
Cash at bank and in hand    570 549
Bank overdraft    (882) (1,476)
    –––––––––––––– ––––––––––––––
     (312) (927)
    –––––––––––––– ––––––––––––––
16 Trade and other payables
 
Group
    As at 28 June As at 30 June 
    2008 2007
    £’000 £’000
Current liabilities
Trade payables    1,420 2,005
Other taxes and social security costs    376 255
Accruals and deferred income    1,358 933
Deferred grant (refer to note 19)    1 1
Other taxes *    100 116
    –––––––––––––– ––––––––––––––
     3,255 3,310
    –––––––––––––– ––––––––––––––
Non-current liabilities      
Other taxes *    198 274
Deferred grant (refer to note 19)     54 55
    –––––––––––––– ––––––––––––––
     252 329
    –––––––––––––– ––––––––––––––
Trade payables and accruals principally comprise amounts outstanding for trade purchases and ongoing costs. The Directors consider that the carrying 
amount of trade and other payables approximate to their fair value.
* Other taxes relates to VAT payable at a future date under the Capital Goods Scheme. 
17 Financial Instruments
 
Group
An explanation of the Group’s objectives, policies and strategies for the role of financial instruments in creating and changing the risks of the Group  
in its activities can be found in pages 4 to 11. 
Borrowings
The Group had outstanding borrowings as at 28 June 2008 as follows:
    As at As at 
     28 June 2008 30 June 2007
    £’000 £’000
Current    
Bank term loans    5,840 3,515
Bank overdrafts    882 1,476
    –––––––––––––– ––––––––––––––
     6,722 4,991
    –––––––––––––– ––––––––––––––
Non-current    
Bank term loans    32,280 14,060
    –––––––––––––– ––––––––––––––
     32,280 14,060
    –––––––––––––– ––––––––––––––
All borrowings are denominated in sterling. 
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
37 17 Financial Instruments Continued
Details of loans held by the Group are as follows:
•	 £ 1 7 , 6 3 3 , 0 0 0 	 te r m 	 l o a n , 	 w h i ch 	 a t t ra c t s 	 i nte re s t 	 a t 	 b a s e 	 p l u s 	 1 %, 	 wa s 	 ta ke n 	 o n 	 2 9 	 M a y 	 2 0 0 7 , 	 re p a y a b l e 	 i n 	 e q u a l 	 s e m i - a n n u a l 	 i n s ta l m e nt s 	 ove r 	 
five years, commencing November 2007. The balance outstanding at 28 June 2008 was £14,107,000 (2007: £17,633,000).
•	 £ 4 ,5 0 0 , 0 0 0 	 d eve l o p m e nt 	 l o a n 	 wa s 	 e s ta b l i s h e d 	 o n 	 2 9 	 M a y 	 2 0 0 7 , 	 w h i ch 	 a t t ra c t s 	 i nte re s t 	 a t 	 b a s e 	 p l us 	 1 % 	 a n d 	 i s 	 re p a y a b l e 	 i n 	 e q u a l 	 q u a r te r ly	
instalments over five years commencing August 2008. At 28 June 2008, this loan was fully drawn (2007: £Nil).
•	 £ 2 ,5 0 0 , 0 0 0 	 d eve l o p m e nt 	 l o a n 	 wa s 	 e s ta b l i s h e d 	 o n 	 1 8 	 J a n u a r y 	 2 0 08 , 	 w h i ch 	 a t t ra c t s 	 i nte re s t 	 a t 	 LI BO R 	 p l us 	 1 . 2 5 % 	 a n d , 	 o n c e 	 d ra w n , 	 w i l l 	 b e 	 re p a y a b l e	 
in equal quarterly instalments over five years. At 28 June 2008, the amount drawn on this loan was £1,885,000 (2007: £Nil).
•	 £ 1 8 , 0 0 0 , 0 0 0 	 a c q u i s i t i o n 	 l o a n 	 wa s 	 ta ke n 	 o n 	 2 6 	 F e b r u a r y 	 2 0 08 	 w h i ch 	 a t t ra c t s 	 i nte re s t 	 a t 	 LI BO R 	 p l us 	 1 . 2 5 % 	 a n d 	 i s 	 re p a y a b l e 	 i n 	 2 7 	 q u a r te r ly 	 i n s ta l m e nt s 	
of £325,000 followed by a bullet repayment of £9,225,000 in May 2015. The balance outstanding at 28 June 2008 was £17,675,000 (2007: £Nil).
With effect from 28 July 2008, the margin on the Group’s base-rate linked borrowing increased from 1% to 1.25%.
With effect from 25 September 2008, the terms of repayment on the Group’s term loan of £14,107,000 were varied to extend repayment from four years  
to six years, with a variation in the margin on this loan to 1.5%.
The bank term loan and overdraft are secured by a standard security and legal charge over certain of the Group’s freehold and leasehold property  
and by a floating charge over the property and assets of the Group. There is also a cross guarantee between Powerleague Group plc and its subsidiary 
undertakings. At 28 June 2008, the amount outstanding for the Group, including bank overdraft, was £38,519,000 (2007: £18,594,000).
The Group is required to comply with certain covenants on its borrowing, namely Interest Cover of 3:1 and Cash Flow Cover of 1:1. The covenants are tested 
quarterly on a rolling 12-month basis. With effect from 25 September 2008, the interest cover covenant for the Group’s borrowing was reduced from 3:1  
to 2.75:1.
Details of the loans in place at 30 June 2007 are as follows:
•	 £ 1 7 , 6 3 3 , 0 0 0 	 te r m 	 l o a n , 	 w h i ch 	 a t t ra c t s 	 i nte re s t 	 a t 	 b a s e 	 p l u s 	 1 %, 	 wa s 	 ta ke n 	 o n 	 2 9 	 M a y 	 2 0 0 7 , 	 re p a y a b l e 	 i n 	 e q u a l 	 s e m i - a n n u a l 	 i n s ta l m e nt s 	 ove r 	 fi ve 	
years, commencing November 2007.
•	 £ 4 ,5 0 0 , 0 0 0 	 d eve l o p m e nt 	 l o a n 	 wa s 	 a l s o 	 e s ta b l i s h e d 	 o n 	 2 9 	 M a y 	 2 0 0 7 , 	 w h i ch 	 a t t ra c t s 	 i nte re s t 	 a t 	 b a s e 	 p l us 	 1 % 	 a n d , 	 o n c e 	 d ra w n , 	 w i l l 	 b e 	 re p a y a b l e 	 
in equal quarterly instalments over five years.
•	 T h e 	 s e cu r i t y 	 a n d 	 c ove n a nt s 	 a p p l y i n g 	 a t 	 3 0 	 J u n e 	 2 0 0 7 	 w e re 	 t h e 	 s a m e 	 a s 	 t h os e 	 a p p ly i n g 	 a t 	 2 8 	 J u n e 	 2 0 08 .	
Committed facilities
The Group has floating rate committed borrowing facilities, which have been utilised as follows:
    As at  As at
    28 June 2008 30 June 2007
    £’000 £’000
Facilities    8,500 6,500
Borrowing    (7,267) (1,476)
    –––––––––––––– ––––––––––––––
Undrawn facility    1,233 5,024
    –––––––––––––– ––––––––––––––
Expiring within one year    1,233 5,024
Expiring after more than one year, but within five years    – –
    –––––––––––––– ––––––––––––––
     1,233 5,024
    –––––––––––––– ––––––––––––––
Notes to the Financial Information Continued
38 Interest rate profile of financial assets and liabilities
The interest rate profile of the Group’s financial assets and liabilities is as follows:
 Within 1-2 2-3 3-4 4-5 Over 
 1 year years years years years 5 years Total
28 June 2008 £’000 £’000 £’000 £’000 £’000 £’000 £’000
Floating rate:       
Cash and cash equivalents 570 – – – – – 570
Term loans (5,840) (6,215) (6,215) (6,215) (2,460) (11,175) (38,120)
Bank overdraft (882) – – – – – (882)
 –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
  (6,152) (6,215) (6,215) (6,215) (2,460) (11,175) (38,432)
 –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
 Within 1-2 2-3 3-4 4-5 Over 
 1 year years years years years 5 years Total
28 June 2007 £’000 £’000 £’000 £’000 £’000 £’000 £’000
Floating rate:       
Cash and cash equivalents 549 – – – – – 549
Escrow deposits 50 50 50 50 – – 200
Term loans (3,515) (3,515) (3,515) (3,515) (3,515) – (17,575)
Bank overdraft (1,476) – – – – – (1,476)
 –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
 (4,392) (3,465) (3,465) (3,465) (3,515) – (18,302)
 –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
Interest rate risk
Financial liabilities bear interest at the Bank of England base rate or LIBOR, as detailed above. Short-term cash deposit accounts of £530,000 (2007: 
£515,000) and cash floats at operational centres of £40,000 (2007: £34,000) are not interest earning. After the year-end, on 30 July 2008, a £17.0 million  
2-year cap/collar hedging arrangement was established, with a cap rate of 6.00% and collar rate of 5.36%.
The following table demonstrates the sensitivity of the Group’s profit before tax through the impact on floating rate borrowings to an increase or 
decrease of 100 basis points in interest rates, with all other variables held equal:
    28 June 2008 30 June 2007
    £’000 £’000
Increase of 100 basis points    290 179 
Decrease of 100 basis points    (290) (179)
    –––––––––––––– ––––––––––––––
Credit risk
There are no significant concentrations of credit risk within the Group. The maximum credit risk exposure relating to financial assets is represented  
by their carrying value as at the balance sheet date. Credit risks arising from acting as guarantor are disclosed above.
Liquidity risk
The table below summarises the maturity profile of the Group’s financial liabilities at the balance sheet date, including estimated interest payments, 
based on contractual undiscounted payments. 
 Carrying Contractual 6 months 6-12 1-2  2-5 Over 5
 value Cash flows or less months years years years
28 June 2008 £’000 £’000 £’000 £’000 £’000 £’000 £’000
Secured bank loans 38,120 47,721 3,086 3,211 6,517 18,215 16,692
Trade and other payables 3,507 3,507 3,255 – 70 122 60
Bank overdraft 882 882 882 – – – –
 –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
 42,509 52,110 7,223 3,211 6,587 18,337 16,752
 –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
 Carrying Contractual 6 months 6-12 1-2  2-5 Over 5
 value Cash flows or less months years years years
30 June 2007 £’000 £’000 £’000 £’000 £’000 £’000 £’000
Secured bank loans 17,575 21,142 2,356 2,356 4,319 8,480 3,631
Trade and other payables 3,639 3,639 3,310 – 91 165 73
Bank overdraft 1,476 1,476 1,476 – – – –
 –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
 22,690 26,257 7,142 2,356 4,410 8,645 3,704
 –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
39 17 Financial Instruments Continued
Fair values of financial assets and financial liabilities
Set out below is a comparison by category of carrying value of the Group’s financial instruments.
   Book value  Fair value
  –––––––––––––––––––––––––––––––––– ––––––––––––––––––––––––––––––––––
  2008 2007 2008 2007
  £’000 £’000 £’000 £’000
Financial assets     
Cash  570 549 570 549
Escrow deposits  – 200 – 200 
   –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
Financial liabilities
Bank overdraft  (882) (1,476) (882) (1,476)
Floating rate borrowings  (38,121) (17,575) (38,121) (17,575)
   –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
The carrying amount of other financial instruments of the Group i.e. short term-trade receivables and payables, that are not included in the table above, 
is a reasonable approximation of fair value.
18 Operating lease arrangements
Group
The Group leases certain assets on an operating lease basis. These assets include land, buildings and office equipment.
The Group as lessee:
    2008 2007
    £’000  £’000 
Amounts recognised for the year:    
Minimum lease payments     1,599 946
Contingent rents    42 43
    –––––––––––––– ––––––––––––––
Net rent expense for the year    1,641 989
    –––––––––––––– ––––––––––––––
Contingent rents are payable on a number of lease based on certain elements of trading activity at the leased centres.
At the balance sheet date, the Group had outstanding commitments for future minimum lease payments under non-cancellable operating leases which 
fall due as follows:
    2008 2007
    £’000  £’000 
Within one year    2,958 1,192
In the second to fifth years inclusive    11,677 3,856
After five years    65,876 37,702
    –––––––––––––– ––––––––––––––
Total future minimum lease payments    80,511 42,750
    –––––––––––––– ––––––––––––––
The Group has no sub-leases.
Notes to the Financial Information Continued
40 19 Deferred grants
 
Group
    As at As at
    28 June 2008 30 June 2007 
    £’000 £’000
Balance at 1 July 2007    56 57
Amortised during the year    (1) (1)
    –––––––––––––– ––––––––––––––
Balance at 28 June 2008    55 56
    –––––––––––––– ––––––––––––––
    As at As at
    28 June 2008 30 June 2007 
    £’000 £’000
Current element of deferred grants    1 1
Non-current element of deferred grants    54 55
    –––––––––––––– ––––––––––––––
Balance at 28 June 2008 (refer note 16)    55 56
    –––––––––––––– ––––––––––––––
The Company is not in receipt of grants.
20 Deferred tax
 
Group
The following are the major deferred tax liabilities and assets recognised by the Group and movements thereon in the current and prior reporting year.
  Accelerated  Short-term
  tax  timing  Losses carried 
 Goodwill depreciation  differences forward Total
 £’000 £’000 £’000 £’000 £’000
At 1 July 2007 – 4,161 6 (3) 4,164
Charge to income 180 530 (22) 3 691
  –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
At 28 June 2008 180 4,691 (16) – 4,855
  –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
The Group has unutilised non-trade loan relationship deficits and capital losses of £2,166,000 (2007: £2,167,000) at the balance sheet date upon which  
a deferred tax asset of £606,000 (2007: £607,000) has not been recognised.
At the balance sheet date, the aggregate amount of temporary differences associated with undistributed earnings of subsidiaries for which deferred tax 
liabilities have not been recognised was £Nil (2007: £Nil). No liability has been recognised because the Group is in a position to control the reversal of the 
temporary differences and it is probable that such differences will not reverse in the foreseeable future.
21 Called up share capital 
Group and Company
The table below shows the movements in the authorised and issued share capital of Powerleague Group plc for the year ended 28 June 2008.
    As at 28 June As at 30 June
    2008   2007
    £’000 £’000
Authorised:   
200,000,000 ordinary shares of 10p each     20,000 20,000
    –––––––––––––– ––––––––––––––
Allotted, called up and fully paid    
81,820,000 ordinary shares of 10p each     8,182 8,182
    –––––––––––––– ––––––––––––––
Voting rights attaching to the shares are as follows: at a general meeting, on a show of hands each person present has one vote. On a poll of members, 
each share carries one vote.
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
41 22 Reconciliation of movements in shareholders funds 
 
Group
 Share Share Group  Retained   
 capital premium merger earnings Total
 £’000 £’000 £’000 £’000 £’000
At 1 July 2007 8,182 7,287 (4,999) 8,828 19,298
Share based payment credit –  – – (13) (13)
Dividend paid –  – – (900) (900)
Profit for the year – – – 3,331 3,331
  –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
At 28 June 2008 8,182 7,287 (4,999) 11,246 21,716
  –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
As explained in the basis of consolidation (note 2) the Group reorganisation has been accounted for using the UK GAAP merger accounting method. 
Under this approach the difference that arose between the nominal value of shares given and shares received on the Group reorganisation in May 2005 
is recognised within a separate reserve, the merger reserve.
Company
 Share Share Merger Retained  
 capital premium reserve earnings Total 
 £’000 £’000 £’000 £’000 £’000
At 1 July 2007 8,182 7,287 16,974 590 33,033
Dividend paid – – – (900) (900)
Profit for the year – – – 2,200 2,200
  –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
At 28 June 2008 8,182 7,287 16,974 1,890 34,333
  –––––––––––––– –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
23 Reconciliation of cash flow from operating activities
 
Group
     52 weeks ended  
    52 weeks ended 30 June 2007
    28 June 2008 (restated)* 
    £’000  £’000 
Profit for the year    3,331 3,659
Taxation expense    1,632 1,299
Net interest expense    1,683 1,104
Operating profit    6,646 6,062
    –––––––––––––– ––––––––––––––
Adjustments for:   
Depreciation of property, plant and equipment    2,302 2,279
Amortisation of intangible assets    125 –
Release of deferred grant    (1) (1)
(Increase)/decrease in inventories    (36) 16
Increase in receivables    (567) (288)
Decrease in payables    (333) (231)
    –––––––––––––– ––––––––––––––
Cash flow generated from operating activities    8,136 7,837
Income taxes (paid)/refunded    (1,240) (1,416)
    –––––––––––––– ––––––––––––––
Net cash flow from operating activities *    6,896 6,421
    –––––––––––––– ––––––––––––––
* Net cash flow from operating activities for the period ended 30 June 2007, which was previously reported as £6,183,000, has been restated to reflect 
a change in the increase in receivables by £238,000. The amount reported in the cash flow statement as received from the sale of assets held for sale 
was reduced by £238,000 as this sum is receivable over a period of nine years.
Notes to the Financial Information Continued
42 Company
    52 weeks ended  52 weeks ended 
    28 June 2008 30 June 2007
    £’000  £’000 
Profit for the year    2,200 953
Taxation expense    124 142
Interest received    (602) (618)
Dividend received    (1,881) (614)
Operating loss    (159) (137)
    –––––––––––––– ––––––––––––––
Cash flow from operating activities    (159) (137)
Income taxes paid    (151) (157)
    –––––––––––––– ––––––––––––––
Net cash flow from operating activities    (310) (294)
    –––––––––––––– ––––––––––––––
24 Reconciliation of net cash flow to movement in net debt
    52 weeks ended  52 weeks ended 
    28 June 2008 30 June 2007
    £’000  £’000 
Increase/(decrease) in cash in the year    615 (329)
Net cash (inflow)/outflow from (increase)/decrease in debt    (20,533) 227
    –––––––––––––– ––––––––––––––
Movement in net debt arising from cash flows    (19,918) (102)
Amortisation of issue costs    (12) (9)
Opening net debt    (18,502) (18,391)
    –––––––––––––– ––––––––––––––
Closing net debt    (38,432) (18,502)
    –––––––––––––– ––––––––––––––
25 Analysis of changes in net debt
  At 1 July  Non-cash At 28 June
  2007 Cash flows transactions 2008
  £’000 £’000 £’000 £’000
Cash in hand and at bank  549 21 – 570
Bank overdraft  (1,476) 594 – (882)
   –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
   (927) 615 – (312)
  –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
Debt due within one year  (3,515) (2,325) – (5,840)
Debt due after one year  (14,060) (18,208) (12) (32,280)
  –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
Closing net debt  (18,502) (19,918) (12) (38,432)
  –––––––––––––– –––––––––––––– –––––––––––––– ––––––––––––––
26 Share-based payments
On 29 September 2006, the Group commenced the operation of an employee scheme, the Powerleague Group plc Employee Share Option Scheme,  
(the ‘Option Scheme’). The Option Scheme is an equity settled share option scheme.
An expense was recognised for share based payments based on the fair value of the awards at the date of grant, the estimated number of shares that 
would vest, the vesting period of each award and whether or not the performance conditions had been met. The earliest exercise dates range from  
29 September 2009 to 14 November 2009. It is a condition of exercise of the options that the Group must demonstrate at least 3% growth in Earnings per 
Share annually prior to the date of exercise. For the year to 28 June 2008, the condition that Earnings per Share should grow by at least 3% was not met 
and the options are not capable of being exercised and are therefore forfeited. Accordingly, a credit of £13,000 has been taken to reverse the charges 
previously made (2007: £13,000).
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
43 26 Share-based payments Continued
The following table illustrates the number and weighted average exercise prices (WAEP) of, and movements in, share options during the year:
     
    Number of shares WAEP
Balance at start of year    190,000 0.67
Awarded during year    195,000 0.96
    –––––––––––––– ––––––––––––––
Balance at end of year    385,000
    –––––––––––––– 
The fair value of equity-settled share options granted is estimated as at the date of grant using a Black-Scholes model, taking into account the terms and 
conditions upon which the options were granted. The following table lists the inputs to the model used for the year ended 28 June 2008:
Grant date   12 Oct 2007 29 Sept 2006 14 Nov 2006
Share price at grant date (£)   0.97 0.735 0.685
Exercise price (£)   0.96 0.660 0.690
Expected volatility    30.9% 30.6% 31.2%
Risk free rate   5.2% 4.7% 4.7%
Expected dividend yield    1.1% 0.0% 1.1%
Time to expiry (years)   6 6 6
    –––––––––––––– –––––––––––––– ––––––––––––––
Expected volatility is determined with reference to the volatility of the Group’s share price over the previous 18 months. The expected life used in 
the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions and behavioural 
considerations.
The weighted average fair value of options granted during the year was 96 pence (2007: 67 pence). The range of exercise prices for options outstanding 
at the end of the year was 66 pence to 96 pence (2007: 66 pence to 69 pence).
 
27 Related party transactions
Transactions between the Company and its subsidiaries, which are related parties, have been eliminated on consolidation and are not disclosed  
in this note.
 
Transactions with key management personnel
Remuneration of key management personnel
The remuneration of the Directors, who are the key management personnel of the Group, is set out below in aggregate for each of the categories 
specified in IAS 24 ‘Related Party Disclosures’. 
    52 weeks ended  52 weeks ended
    28 June 2008 30 June 2007
    £’000 £’000
Short term employee benefits    485 445
Post employment benefits     23 40
    –––––––––––––– ––––––––––––––
     508 485
    –––––––––––––– ––––––––––––––
Other related party transactions
Group 
The Group has entered into no related party transactions other than those noted above.
Company
The Company entered into the following related party transactions during the year:
   Dividend Purchases  
   received from from subsidiary Amounts due from
   subsidiary undertaking  related parties related parties
   £’000 £’000 £’000
2008   
Subsidiary undertakings   1,881 159 12,463
    –––––––––––––– –––––––––––––– ––––––––––––––
2007  
Subsidiary undertakings   614 136 11,190
    –––––––––––––– –––––––––––––– ––––––––––––––
Notes to the Financial Information Continued
44 Loan to Powerleague Fives Ltd
    2008 2007
    £’000 £’000
At start of year    11,190 10,866
Advance during the year    2,483 1,232
Repaid    (1,210) (908)
    –––––––––––––– ––––––––––––––
At end of year    12,463 11,190
    –––––––––––––– ––––––––––––––
Interest is charged at a commercial market rate on the loan.
 
28 Subsidiaries
Details of the principal subsidiaries of the Group, all of which are incorporated in the United Kingdom, are as follows:
 Shareholding Nature of business
Trading subsidiaries  
Powerleague Fives Limited 100% Development and management of 5-a-side football centres
Non-trading subsidiaries  
Anchor International Limited 100% * Dormant
Barnet Copthall Soccer Centre Limited  100% * Dormant
Croydon Soccer Centre Limited 100% * Dormant
JJ Boyle Limited (see below) 100% * Dormant
Nottingham Soccer Centre Limited  100% * Dormant
Powerplay Supersoccer Limited 100% * Dormant
Powerleague Soccer Centre Limited 100% * Dormant
Tottenham Soccer Centre Limited 100% * Dormant
* held by subsidiary
Company     £’000
The carrying value of investments in subsidiaries at 28 June 2008 and 30 June 2007    22,000
29 Post Balance Sheet Event
On 28 July 2008, the Group acquired the entire share capital of Soccer Sensations Ltd for a consideration of £1,825,000, payable in cash. 
 
Soccer Sensations Ltd operates a 5-a-side centre in Stockton-on-Tees. At the same time, a new term loan facility was drawn, which is repayable over  
six years commencing in October 2009 and bearing interest at 2% over LIBOR. With effect from 28 July 2008, the margin on the Group’s base-rate linked 
borrowing increased from 1% to 1.25%. With effect from 25 September 2008, the terms of repayment on the Group’s term loan of £14,107,000 were varied 
to extend repayment from four years to six years, with a variation in the margin on this loan from 1.25% to 1.5%. At the same date, the interest cover 
covenant for the Group’s borrowing was reduced from 3:1 to 2.75:1.
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
45 Notice is hereby given that the Annual General Meeting of Powerleague Group plc (“the Company”) will be held at Powerleague Barnet, Bobby Moore 
Way, Friern Barnet, London, N10 1ST on 24 November 2008 at 11am to consider the following Ordinary and Special Business, of which Resolutions 1 to 9 
will be proposed as Ordinary Resolutions and Resolutions 10 and 11 will be proposed as Special Resolutions:
Ordinary Business
1. To receive and adopt the reports of the Directors and the Auditors and the audited accounts of the Company for the year ended 28 June 2008.
2. To re-elect Andrew Mallett who retires from the Board in accordance with Article 87.1 of the Company’s Articles of Association as a director  
of the Company.
3. To re-elect Sean Tracey who retires from the Board in accordance with Article 87.1 of the Company’s Articles of Association as a director  
of the Company.
4. To re-elect Keith M. Breslauer in accordance with Article 82 of the Company’s Articles of Association, who was appointed as a director  
of the Company on 14 March 2008, as a Director.
5. To re-elect Paul Orchard-Lisle in accordance with Article 82 of the Company’s Articles of Association, who was appointed as a director  
of the Company on 14 March 2008, as a Director.
6. To re-appoint Ernst & Young LLP as auditors of the Company to hold office until the conclusion of the next Annual General Meeting.
7. To authorise the Directors to fix the remuneration of the auditors.
8. To approve the dividend of 1.1 pence per ordinary share.
Special Business
9. Ordinary Resolution
a) this authority shall be in substitution for any equivalent authority granted to the Directors prior to the date of the passing of this resolution;
b) this authority shall be limited to the allotment of relevant securities up to an aggregate nominal amount of £3,000,000;
c) unless previously renewed, revoked, varied or extended, this authority shall expire on the earlier of the date falling 15 months after the date of 
the passing of this resolution and the conclusion of the next Annual General Meeting of the Company except that the Company may at any time 
before  such expiry make an offer or agreement which would or might require relevant securities to be allotted after such expiry and the Directors 
may allot  relevant securities in pursuance of such an offer or agreement as if this authority had not expired; and
d) in relation to the grant of any right to subscribe for, or convert any security into, shares in the Company, the reference in this resolution to the  
maximum amount of relevant securities that may be allotted is to the maximum amount of shares which may be allotted pursuant to such right.
 
10. Special Resolution
That, in substitution for any equivalent powers granted to the Directors prior to the passing of this resolution, the Directors be and are hereby  
empowered pursuant to section 95 of the Act to allot equity securities (as defined in section 94(2) of the Act) for cash pursuant to the authority of the 
Directors conferred by resolution 9 above, and/or where such an allotment constitutes an allotment of equity securities by virtue of section 94(3A) of the 
Act, as if section 89(1) of the Act did not apply to any such allotment provided that:
a) the power conferred by this resolution shall be limited to:
i. the allotment of equity securities in connection with an invitation or offer of equity securities to the holders of ordinary shares in the capital  
of the Company (excluding the Company where it holds shares as treasury shares (as defined in section 162A(3) of the Act)) on a fixed record 
date in proportion (as nearly as practicable) to their respective holdings of such shares or in accordance with the rights attached to such hares 
(but subject to such exclusions or other arrangements as the Directors may deem necessary or expedient in relation to fractional entitlements 
or as a result of legal or practical problems under the laws of, or the requirements of any regulatory body or any stock exchange in,  
any territory); 
ii. the allotment, otherwise than pursuant to paragraph (i) above, of equity securities up to an aggregate nominal value equal to £500,000; 
b) unless previously renewed, revoked, varied or extended, this power shall expire on the earlier of the date falling 15 months after the date of the 
passing of this resolution and the conclusion of the next Annual General Meeting of the Company except that the Company may at any time 
before such expiry make an offer or agreement which would or might require equity securities to be allotted after such expiry and the Directors 
may allot equity securities in pursuance of such an offer or agreement as if this power had not expired; and
c) in this resolution the nominal amount any securities should be taken to be, in the case of a right to subscribe for or convert any securities into 
shares of the Company, the nominal amount of the shares which may be allotted pursuant to such right.
11. Special Resolution
That, with immediate effect the Company’s Articles of Association be amended as indicated on the proposed Articles of Association that have been 
available for inspection at the Registered Office from the date of this Notice until the end of the meeting convened by this Notice, on the Company’s 
website at www.powerleagueplc.com or may be ordered in paper copy by writing to the Company Secretary at the Registered Office or calling  
+44 (0)141 887 7758 or emailing info@powerleague.co.uk.
By order of the Board Registered Office:
    Powerleague Mill Hill
Sheena Beckwith Secretary Pursley Road
31 October 2008 Mill Hill 
    London NW7 2BB
    
Notice of Annual General Meeting
46 Explanatory Notes
Resolutions 9 and 10
Resolutions 9 and 10 relate to the share capital of the Company and are similar to those passed last year. 
Resolution 9 grants the Directors authority to allot shares in the capital of the Company up to an aggregate nominal value of £3,000,000, representing 
approximately one third of the nominal value of the issued ordinary share capital of the Company. The Directors do not have any present intention of 
exercising this authority but they consider it desirable that the specified amount of authorised but unissued share capital is available for issue so that 
they can more readily take advantage of possible opportunities. Unless renewed, revoked, varied or extended, this authority will expire at the end of  
15 months from the date of passing of the resolution or at the conclusion of the next Annual General Meeting of the Company, whichever is the earlier.
Resolution 10 empowers the Directors to allot equity shares for cash other than in accordance with the statutory pre-emption rights of members (which 
require a company to offer all allotments of equity securities for cash and all sales of treasury shares first to existing shareholders in proportion to their 
holdings) in connection with rights issues and other pre-emptive offers and otherwise up to a maximum nominal amount of £500,000, representing 
approximately 6% of the nominal value of the issued share capital of the Company. Unless renewed, revoked, varied or extended, this authority will 
expire at the end of 15 months from the date of passing of the resolution or at the conclusion of the next Annual General Meeting of the Company, 
whichever is the earlier. The Directors consider that the power proposed to be granted by Resolution 10 is necessary to retain flexibility, although they 
currently have no intention of exercising such power.
Both Resolutions 9 and 10 are limited as to the amount of shares that can be issued or repurchased and the authorities under the resolutions last  
only until the next Annual General Meeting or 15 months from approval (whichever is the shorter) at which time the Board would need to seek to  
renew the authorities.
Resolution 11
Shareholders will be aware that a comprehensive re-write of company legislation has been enacted through the Companies Act 2006 and is being 
brought into effect in stages. These resolutions make a number of changes to the Company’s Articles of Association to ensure they reflect the updated 
law and introduce certain new specific powers that the directors will need to continue the smooth running of the Company. 
The full set of Articles of Association runs to in excess of 75 pages and, in addition to the more significant changes, includes a considerable number 
of minor changes mainly designed to bring the terminology in our Articles in line with the wording of the new legislation. Because of the length of the 
document, we are not sending copies to each Shareholder, however the proposed Articles may be viewed on, or downloaded from, the Company’s 
website at www.powerleagueplc.com or may be ordered in paper copy by writing to the Company Secretary at its Registered Office or calling  
+44 (0)141 887 7758 or emailing info@powerleague.co.uk. The proposed Articles will also be available for inspection at the Company’s Registered Office 
on weekdays during normal business hours from the date of this Notice until the end of the meeting convened by this Notice and at the meeting itself  
for at least 15 minutes prior to and during the meeting.
A summary of the proposed changes is set out below. 
Electronic Communications
The new Act allows both the Company and Shareholders to benefit from the broader use of electronic communication. Adopting the proposed revisions 
to Articles 2.1 (Definitions), 72, 75, 144, 145, 150 and 152 (new numbering) will in future enable the Company to reduce printing and mailing costs and 
minimise the adverse environmental impact of printing and mailing shareholder documents (such as annual reports and detailed notices of meetings). 
Shareholders could instead be sent a “notice of availability” (with brief details of date, time and place of any meeting if applicable) notifying them of 
the presence of the full documentation on the Company’s website. The Company has not yet decided that it will avail itself of these new powers but 
will review the method of future communications with Shareholders as best practice develops whilst taking into account the environmental impact of 
paper documentation. Although any consultation which the Company will carry out with Shareholders will be one where Shareholders will be deemed 
to consent to receive the full documentation by electronic means unless they specifically respond opting to be sent a hard copy, such an option can be 
made at any time and so the future rights of Shareholders to receive hard copies of documents will be safeguarded. 
Directors’ indemnities
The new Act clarifies and extends the scope of potential indemnity for directors and it is proposed that Article 158 (new numbering) be amended  
to reflect this, clarifying the position with regard to the indemnity of directors of associated companies and the funding of defence to regulatory 
proceedings. Article 158 also extends the scope of the potential indemnity to include directors acting in their capacity as trustees of an occupational 
pension scheme. These provisions are necessary and extend only to protect those directors who act in good faith in their dealings with the Company.
Notice of General Meetings (Article 51)
The new Act has given potential to relax the notice requirements for general meetings other than the Annual General Meeting (which remains at  
21 days). To give maximum flexibility to respond to changing circumstances, it is proposed that the Articles are amended, as the law now permits,  
to allow all other meetings to be called on 14 days’ notice if so required.
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
47 Notice of Annual General Meeting Continued
Changes in terminology etc. consequential upon the new Act
Abolition of Extraordinary Resolutions and Extraordinary General Meetings
“Extraordinary” as applied to general meetings is no longer a relevant term under the new legislation and therefore amendments are required to  
Articles 49, 50 and 51. Likewise the term “extraordinary resolution” has been deleted in Articles 2.5, 51 and 65.
Proxies and corporate representatives
The new Act has clarified and formalised provisions relating to these matters and it is proposed to amend Articles 76 (on the appointment of corporate 
representatives) and 54 (on quorum) as required by the new legislation. Article 51.3 (Form of notice) has also been amended to include the requirement 
of the new Act that such notice specifically informs Shareholders of their right to appoint proxies to “attend, speak and vote” on their behalf.
Definitions generally and construction of the term “in writing”
With the gradual repeal of the former Companies Act 1985 the reference to the “Act” in Articles needs to be replaced with “Companies Acts”, as itself 
defined in the new Act to include the existing provisions of the old one while they remain in force. Amendments to the Definitions (Article 2.1) provides 
for the expansion of “Address” to include electronic address and the term “in writing” to include documents sent electronically or made available on the 
website, as is now permitted. The terminology of the new Act also requires replacement of the words “electronic communication” with “electronic form” 
and “electronic means” wherever it occurs throughout the current Articles.
Deletions
The new Act removes the age restriction on the appointment and re-appointment of directors contained in the 1985 Act. Therefore Article 86 which 
specifically allowed directors to continue beyond the age of 70 is no longer required. 
Declaration of Directors’ Interests
The situation under the old legislation was that the directors of the Company had to act in good faith as regards the Company and declare at relevant 
board meetings where they have personal interests that may conflict with the interests of the Company. Under Section 175 of the Companies Act 2006 
the old law is codified and extended in scope. The section is very broadly drafted – “A director of a company must avoid a situation in which he has, 
or can have, a direct or indirect interest that conflicts, or possibly may conflict, with the interests of the company.” [emphasis added] 
This is very far-reaching indeed and could impact on your directors who are, or may wish to be, directors of other companies or trustees of charitable 
or other organisations. In common with many other companies we would wish to avoid a situation where a director might be forced into resigning a 
position as a precaution against possible, but nonexistent, future conflicts or, indeed, where a new director might refuse to accept appointment because 
of the possibility of such events occurring. The 2006 Act recognises these problems and provides for a mitigation of the basic provision of the new law to 
be written into a company’s Articles. 
It is proposed that advantage be taken of this and that the Articles are amended to allow the other directors to acknowledge and authorise a conflict or 
potential conflict if it is in the interests of the Company – effectively preserving matters as they currently are. There are safeguards that will apply when 
directors decide whether or not to authorise a conflict or potential conflict. Firstly, only directors who have no interest in the matter being considered 
will be able to take the relevant decision, and secondly, in taking the decision, the directors must act in the way that they consider, in good faith, will 
be most likely to promote the Company’s success. The directors will be able to impose limits or conditions when giving authorisation if they think this is 
appropriate. Having this flexibility is necessary for the continued smooth running of the Company and Shareholders are asked to approve the insertion of 
new Articles 87 and 88 (and consequential re-numbering of subsequent Articles) together with the deletion of the old provisions in respect of conflicts of 
interest which have now been superseded.
Notes:
1. A member entitled to attend and vote at the above Meeting is entitled to appoint one or more proxies to exercise all or any of their rights to attend  
 and to speak and to vote on their behalf. A proxy need not be a member of the Company.
2. Completion of a proxy will not prevent members from attending and voting in person if they so wish.
3. A proxy form which may be used to make such an appointment has been sent to all Shareholders together with this Notice.
4. In the case of joint holders the signature of any one of them will suffice. The vote of the senior party tendering a 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 register in respect of the joint holding.
5. The Company specifies that for a member to be entitled to attend and vote at the meeting (and for the determination by the Company of the number  
 of votes they may cast) they must be entered on the Company’s register of members by 48 hours before meeting (“the Specified Time”). Changes to  
 entries on the register after the Specified Time will be disregarded in determining the rights of any person to attend or vote at the meeting.
6. Copies of all directors’ service contracts of more than one year’s duration will be available for inspection at the Registered Office during normal  
 business hours on weekdays from the date of this Notice to the end of the meeting convened by this Notice and at the meeting itself for at least  
 15 minutes prior to and during the meeting. At the date of this Notice there were no directors’ service contracts of more than one year’s duration.
7.  The register of directors’ interests will be produced at the commencement of the meeting and will remain open and accessible during the  
 continuance of the meeting to any person attending the meeting.
48 Tesco
Directions for Powerleague BARNET
Situated just off the A406 North Circular.
From the West (A406 North Circular) – Drive over the Brent Cross flyover at 
the bottom of the M1, pass through the junction of the Nth Circ and the A1 
taking care to remain on the A406 (North Circular) and not join the A1 city 
bound. Continue on North Circular for 2.5 miles until exit at slip road sign 
posted B550 Muswell Hill, Friern Barnet. Turn right at the top of the slip 
road onto Colney Hatch Lane and cross the bridge over the Nth Circ, turn 
right again as if to rejoin the Nth Circ in the opposite direction, but instead 
turn left into the car park.
From the East (A406 North Circular) – Drive past the large gas works on 
the right. Leave the North Circular onto the slip road sign posted B550 
Muswell Hill, Friern Barnet. Cross over the B550 Colney Hatch Lane back 
onto the slip road as if to rejoin the North Circular in the same direction 
but turn immediately left into the car park. 
Powerleague Barnet, Bobby Moore Way, Friern Barnet, London N10 1ST
Telephone: 0208 442 1000
Fax: 0208 365 2931
email: barnet.web@powerleague.co.uk
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
49 Our Centres
EAST ANGLIA
NORWICH
Bowthorpe Park, Clover Hill Road,  
Norwich NR5 9ED
PETERBOROUGH
Stanground College, Peterborough Road, 
Peterborough PE7 3BY
HAMPSHIRE
BASINGSTOKE
Brighton Hill Community College, Brighton Way, 
Basingstoke, RG22 4HS Hampshire
GREATER LONDON
BARNET
Bobby Moore Way, Friern Barnet, London N10 1ST
CATFORD
Private Banks Sports Ground, Canadian Avenue, 
London SE6 4SW
CROYDON
Hannibal Way, Wallington, Croydon CR0 4RW, 
Surrey
FAIRLOP OAKS
Forest Road, Hainault, Ilford IG6 3HJ, Essex
LONDON CITY
115 Worship Street, London EC2A 2BA
MILL HILL
Pursley Road, Mill Hill, London NW7 2BB
MILTON KEYNES
Walton High, Fyfield Barrow,  
Milton Keynes MK7 7WH
NEWHAM
Norwegian Playing Fields, Jenkins Lane, 
Newham IG11 0AD
NORBURY
Turle Road, Norbury, London SW16 5QN
OLD STREET
384 Old Street, Arches 456-460,  
London EC1 9LT
SLOUGH
Slough & Eton School, Ragstone Road,  
Slough SL1 2PU
TOTTENHAM
Willoughby Lane, Tottenham, London N17 0SL
WATFORD
Queens School, Aldenham Road,  
Bushey WD23 2TY, Hertfordshire
MIDLANDS
BIRMINGHAM
Salford Stadium, Lichfield Road,  
Birmingham B6 7TG
COVENTRY
Woodlands School and Sports College, Broad 
Lane, Coventry CV5 7FF
HALESOWEN
Park Road, Halesowen B63 2RG
WEST MIDLANDS
DERBY
Derby Soccerdome, Derwent Parade, Pride Park, 
Derby DE24 8BW 
NOTTINGHAM
Thane Road, Nottingham NG7 2TG
SHREWSBURY
At Shrewsbury Town Football Club, Oteley Road, 
Shrewsbury, Shropshire SY2 6ST
STOKE
Dennis Viollet Road, Off Stanley Mathews Way, 
Trentham Lakes, Stoke ST4 4TN
NORTH ENGLAND
BARNSLEY
Kendray Playing Fields, Kendray,  
Barnsley S70 3JR
BOLTON
Leverhulme Park, Long Lane, Bolton BL2 6BZ
BLACKBURN
Blackburn Soccerdome, Haslingden Road, 
Blackburn BB1 2NG
GATESHEAD
Ropery Road, Gateshead NE8 2HD
LIVERPOOL
2 Whittle Street, Liverpool L5 2SQ
MANCHESTER CENTRAL
20 Union Street, Manchester M12 4JD
MANCHESTER SOUTH
Powerleague at Range Stadium,  
11-18 High School, Wilbraham Road,  
Manchester M16 8GW
NORTH SHIELDS
North Shields Soccerdome, The Royal Quays, 
Coble Dene Road, North Shields NE29 6XL
SHEFFIELD
Woodburn Athletic Stadium, 3 Stadium Way, 
Sheffield S9 3HL
STOCKTON-ON-TEES
Westland Way, Preston Farm Business Park, 
Stockton-on-Tees TS18 3TG
STOCKPORT
Craig Road, Heaton Mersey,  
Stockport SK4 2AP
TRAFFORD
Trafford Soccerdome, Trafford Way, Trafford 
Park, Manchester M17 8DD
WARRINGTON
William Beamont Sports College, Long Lane, 
Warrington WA2 8PX
WIGAN
Wigan Soccerdome, Stadium Way,  
Wigan WN5 0UN
SCOTLAND
GLASGOW
1 Kennedy Street, Glasgow G4 0PN
HAMILTON
67b Bothwell Road, Hamilton ML3 0DW
KILMARNOCK
Former Kirkstyle Cricket Ground, Queens Drive, 
Kilmarnock KA1 3XF, Ayrshire
PAISLEY
Anchor Grounds, Blackhall Street,  
Paisley PA1 1TD
PORTOBELLO
10 Westbank Street, Portobello,  
Edinburgh EH15 1DR
SIGHTHILL
66 Bankhead Drive, Sighthill,  
Edinburgh EH11 4EQ
WALES
CARDIFF
Manor Way, Cardiff CF14 1RF
50 Notes
 Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
51 52
Notes 01 Highlights 2008
02 Chairman’s Statement
06 Chief Executive’s Report 
10 Financial Review 
12 Board of Directors 
13 Corporate Governance
14 Directors’ Report 
16 Remuneration Report 
18  Statement of Directors’ Responsibilities  
in Respect of the Financial Statements
19 Independent Auditor’s Report 
20 Group Income Statement
20  Group Statement of Recognised Income 
and Expense 
21 Group Balance Sheet  
22 Group Cash Flow Statement  
23  Company Balance Sheet 
23  Company Statement of Recognised 
Income and Expense 
24 Company Cash Flow Statement  
25 Notes to the Financial Information
46 Notice of Annual General Meeting
50 Our Centres
IBC Advisers
Powerleague Group plc is the market-leading operator of  
premium quality, purpose-built 5-a-side football centres in  
the United Kingdom. 
We offer our customers the option of 
competitive league matches, corporate 
tournaments or social play within an 
environment of excellent service and first-class 
facilities. We continue to focus on increasing 
our national brand presence to meet local  
and regional demand for small-sided football.  
In addition we are extending our relationships  
with a growing number of high profile 
sponsors, blue-chip companies and major 
brands wishing to align themselves with 
grass-roots football and our customer base.
Auditors
Ernst & Young LLP
George House
50 George Square
Glasgow 
G2 1RR
Bankers
Bank of Scotland plc
123 St Vincent Street
Glasgow 
G2 5EA
Solicitors
Crutes LLP
Great North House
Sandyford Road
Newcastle Upon Tyne
NE1 8ND
Nominated Adviser and Broker
Cenkos Securities Limited plc
6.7.8 Tokenhouse Yard
London 
EC2R 7AS
Registrars
Computershare Investor Services plc
The Pavilions
Bridgwater Road
Bristol 
BS99 6ZY
Registered Office
Powerleague Soccer Centre
Pursley Road
Mill Hill
London 
NW7 2BB
Registered Number 5384840
Advisers The champions of 5-a-side
Powerleague Group plc
Annual Report and Financial Statements for the year ended 28 June 2008
New Sites Sponsorship & Events League & Social Play Acquisition
Powerleague Group plc
Anchor Grounds
Blackhall Street
Paisley PA1 1TD
0141 887 7758
www.powerleagueplc.com
Powerleague Group plc Annual Report and Financial Statements for the year ended 28 June 2008