6.5 The following are the financial statements for Nailsea plc for the years ended 30 June 2014...
Question:
6.5 The following are the financial statements for Nailsea plc for the years ended 30 June 2014 and 2015:
Income statement for years ended 30 June 2014 2015 £m £m Revenue 1,230 2,280 Operating expenses (722) (1,618)
Depreciation (270) (320)
Operating profit 238 342 Interest payable – (27)
Profit before taxation 238 315 Taxation (110) (140)
Profit for the year 128 175 Statements of financial position as at 30 June 2014 2015 £m £m ASSETS Non-current assets Property, plant and equipment (at carrying amount)
Land and buildings 1,500 1,900 Plant and machinery 810 740 2,310 2,640 Current assets Inventories 275 450 Trade receivables 100 250 Bank – 118 375 818 Total assets 2,685 3,458 EQUITY AND LIABILITIES Equity Share capital (fully paid £1 shares) 1,400 1,600 Share premium account 200 300 Retained earnings 828 958 2,428 2,858 Non-current liabilities Borrowings – 9% loan notes (repayable 2019) – 300 Current liabilities Borrowings (all bank overdraft) 32 –
Trade payables 170 230 Taxation 55 70 257 300 Total equity and liabilities 2,685 3,458 There were no disposals of non-current assets in either year. Dividends were paid in 2014 and 2015 of £40 million and £45 million, respectively.
Required:
Prepare a statement of cash flows for Nailsea plc for the year ended 30 June 2015.
Step by Step Answer:
Financial Accounting For Decision Makers
ISBN: 9781292099040
8th Edition
Authors: Peter Atrill, Eddie McLaney