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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
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.
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