The following summarised balance sheets relate to Track Limited:

Additional information 1 During the year to 30 June 19 X1 , some fixed assets originally costing \(£ 25,000\) had been sold for \(£ 20,000\) in cash. The accumulated depreciation on these fixed assets at 30 June \(19 \mathrm{X} 0\) amounted to \(£ 10,000\). Similarly, some of the investments originally costing \(£ 150,000\) had been sold for cash at their book value.
2 The taxation balances disclosed in the above balance sheets represent the actual amounts agreed with the Inland Revenue. All taxes were paid on their due dates. Advance corporation tax may be ignored.
3 No interim dividend was paid during the year to 30 June 19X1.
4 During the year to 30 June \(19 \mathrm{X} 1\), the company made a 1 -for-2 rights issue of 250 ordinary \(£ 1\) shares at \(120 \mathrm{p}\) per share.

Required Prepare Track Ltd's cash flow statement for the year to 30 June 19X1 in accordance with the requirements of FRS 1 using the indirect method. (Do not attempt to provide the reconciliation of net cash flow to net debt.)

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Fixed assets at cost Less Accumulated depreciation Investments at cost Current assets Balance Sheets at 30 June 19X0 19X1 000 000 500 650 200 300 300 350 200 50 Stocks 400 700 Debtors Cash and bank Current liabilities Bank overdraft Creditors Taxation 1,350 1,550 100 1,850 2,250 (60) (650) (790) (230) (190) Proposed dividend (150) (130) (1,030) (1,170) 1,320 1,480 Capital and reserves Called-up share capital (1 ordinary shares) 500 750 Share premium account 150 200 Profit and loss account 670 530 1,320 1,480