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

Statements of financial position as at 30 June

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.

Transcribed Image Text:

2014 2015 £m 2,280 (1,618) £m Revenue 1,230 (722) Operating expenses Depreciation Operating profit _(320) (270) 238 342 Interest payable Profit before taxation Taxation Profit for the year (27) 238 315 (110) (140) 128 175 2014 2015 £m £m ASSETS Non-current assets Property, plant and equipment (at carrying amount) Land and buildings Plant and machinery 1,500 1,900 810 740 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) Share premium account Retained eamings 1,400 1,600 200 300 828 958 2,428 2,858 Non-current liabilities Borrowings - 9% loan notes (repayable 2019) 300 Current liabilities Borrowings (all bank overdraft) Trade payables Taxation 32 170 230 70 55 257 300 Total equity and liabilities 2,685 3,458