The following draft financial statements are available for Sipfalor plc for the year ended 31 May 2020:

Note:
Sipfalor plc presents a separate statement of profit or loss for the year (as above) and a separate statement of comprehensive income.
The following additional information for the year ended 31 May 2020 is available:
1) Dividends paid during the year were £680,000.
2) Non-current assets which had cost £332,100 and which had a carrying value of £55,940 were sold for £45,000. Any surpluses or deficits on the disposal of noncurrent assets have been included in the depreciation charge for the year. Other movements in non-current assets are due to purchases of new assets and revaluations.
3) "Other current assets" consists of prepaid insurance. "Other payables" consists of accrued wages and salaries.

Required:
Prepare a statement of cash flows for Sipfalor plc for the year ended 31 May 2020 in accordance with IAS7 Statement of Cash Flows using the direct method. Additional notes are not required. Ignore VAT.

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Statement of financial position at 31 May 2020 Assets Non-current assets at cost or valuation Less: Accumulated dep'n Current assets Inventory Trade receivables Other current assets Cash and cash equivalents Total assets Equity Issued share capital Share premium Revaluation reserve Retained earnings Liabilities Non-current liabilities Debentures Deferred tax Current liabilities Trade payables Other payables Current tax payable Total equity and liabilities £ 412,350 558,400 2,560 2,702,204 2020 £ 409,800 5,140 336,793 81,535,730 16,677,788 64,857,942 3,675,514 68,533,456 35,000,000 5,500,000 1,000,000 18,421,923 59,921,923 7,500,000 359,800 7,859,800 751,733 68,533,456 £ 389,500 467,800 1,540 64,640 2019 £ 57,754,170 12,687,297 45,066,873 923,480 45,990,353 20,000,000 1,500,000 800,000 17,696,753 39,996,753 5,000,000 289,500 5,289,500 309,800 4,560 389,740 704,100 45,990,353