From the following information in respect of Sparrow Ltd prepare the cash flow statement for the year ended 31.12.X5.

Depreciation charged during the year was £187,000 and assets sold during the year produced a profit of £45,000. The net book value of the assets sold was £88,000. No intangible fixed assets have been acquired or sold during the year. Interest charged in the profit and loss account for the year was £12,000 and all of this was paid.

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BALANCE SHEETS AS AT 31.12.X4 31.12.X5 000 000 Fixed assets Intangible Tangible Investments 237 222 637 738 100 120 974 1,080 Current assets Stock 230 256 Debtors 136 194 Bank 26 366 476 Current liabilities Creditors 97 103 Taxation 64 61 Dividends 60 66 Bank overdraft 24 245 230 Net current assets 121 246 Total assets less current liabilities 1,095 1,326 Ordinary shares of 2 500 520 Share premium 130 Retained profits 545 576 Debentures 50 100 1,095 1,326