Note 9: Profit and loss account of the parent company

As permitted by Section 230 of the Companies Act 1985, the profit and loss account of the parent company is not presented as part of these accounts. The parent’s profit after tax for the financial year was £382,000 (2006: £4,102,000). The significant decrease in profit in 2007 compared to 2006 is due to the forgiveness, in 2006, of an inter-company loan payable by the parent company to Next Fifteen Communications Corporation, an intermediate holding company within the Group.