You are presented with the following balance sheets of S. Ahmed’s business as at 31 March:

Further information:
(i) The depreciation expense for the year ended 31 March 2024 was £7,490.
(ii) In February 2024, a piece of equipment was sold for £1,900 cash, realising a profit on disposal of £230.
(iii) The figures given for trade receivables in the balance sheets are stated after the deduction of the allowance for doubtful debts.

Required:
In accordance with the requirements of IAS 7, prepare the statement of cash flows for the year ended 31 March 2024 using the indirect method.

Transcribed Image Text:

Non-current assets Property, plant & equipment at cost Less Accumulated depreciation Current assets Inventory Trade receivables Cash at bank and in hand Total assets Current liabilities Bank overdrafts Trade payables Non-current liabilities Bank loans Net assets Capital Opening capital Add Net profit for year Add Cash introduced by owner Less Drawings Closing capital 31 March 2024 29,410 36,590 170 (3,390) (32,460) 98,460 (39,320) 59,140 66,170 125,310 (12,500) 76,960 (8,730) (35,850) (31,280) 71,920 20,980 31 March 2023 2,700 (18,640) 76,960 28,150 37,920 250 87,380 (33,020) 54,360 66,320 120,680 (40,010) (8,750) 71,920 71,350 17,040 (16,470) 71,920