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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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