The statement of financial position of Aadvaark Trading Ltd at 30 November 2018 (with comparatives for 2017) is as follows: 

Statement of financial position at 30 November 2018.

The following information is also available:

(i) Freehold property which was valued at £500,000 on 30 November 2017 was revalued at £750,000 on 30 November 2018.

(ii) Plant and equipment with an original cost of £120,000 and accumulated depreciation of £80,000 was sold in February 2018 for £30,000.

(iii) One half of the non-current asset investments were sold for £70,000 in June 2018. Dividends received during the year to 30 November 2018 were £nil.

(iv) Interest paid and payable in the year totalled £70,000.

(v) There is no tax liability for the year to 30 November 2018. The tax liability for the year to 30 November 2017 was underestimated by £20,000.

(vi) No dividends were paid or proposed in either year.

(vii) The short-term investments were sold for £150,000 in June 2018. These ranked as cash equivalents as defined by IAS7.

Required:

Prepare a statement of cash flows for Aadvaark Trading Ltd for the year to 30 November 2018, in accordance with the requirements of accounting standard IAS7 and using the indirect method. 

(CIPFA)

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2018 2017 £000 £C00 £000 £000 Assets Non-current assets Property, plant and equipment at cost or valuation Less: Accumulated depreciation 2,470 1,790 1,620 850 630 1,160 Investments at cost 50 100 1,670 1,260 Current assets Inventories 740 510 640 Trade receivables 1,010 Short-term investnments 150 1,480 Bank balance 1,750 180 2,740 3,420 Equity Share capital Share premium account Revahuation reserve Retained eamings 500 400 140 100 550 300 480 800 1,670 1,600 Liabīlities Non-current liabilities Long-term loans 500 Current liabilities Trade payables Current tax payable Bank overdraft 660 530 110 190 850 640 3,420 2,740