It folds down nice and flat the inner mat comes out and folds down its centre and straps on to the front of the folded cradle body,. well worth the money compered to more pricey ones.
I have one of these, it's the cheapest i could find that has sides. well made does the job although a bit large, that's only a problem when you loose a small fish in it. lol. http://www.fishingrepublic.net/carp/unhooking-mats-slings/theseus-carp-carp-cradle-tcc.html