The following information relates to a supply-financed department. 31/03/X9 31/03/X8 Non-current assets 000 000 Property,
Question:
The following information relates to a supply-financed department.
31/03/X9 | 31/03/X8 | |
Non-current assets | £ 000 | £ 000 |
Property, plant, and equipment | 2 352 | 2 467 |
Software licenses | 210 | 280 |
Financial assets | 225 | 0 |
2 787 | 2 747 | |
Current assets | ||
Receivables | 184 | 311 |
Cash | 975 | 89 |
Current liabilities | (443) | (271) |
Non-current liabilities | ||
National Loans Fund | (150) | 0 |
Net assets | 3 353 | 2 876 |
Taxpayers’ equity | ||
General fund | 1 953 | 1 356 |
Revaluation reserve | 1 400 | 1 520 |
Total taxpayers’ equity | 3 353 | 2 876 |
Additional information for 20X8/X9:
1. The balance on the Parliamentary financing account for the year totalled £3 981 000. Of this £213 000 related to deemed supply.
2. The Department exceeded its net cash requirement for the year by £78 000.
3. Operating costs for the year included a notional audit fee of £29 000. Depreciation and amortization charged for the year totaled £253 000.
4. There was only one non-current asset disposal in the year, relating to a building with a net book value at the date of sale of £216 000. A profit of £84 000 was made on disposal. The asset had previously been revalued and realized gains were transferred from the revaluation reserve to the general fund during the year.
5. Indexation, net of backlog depreciation, for the year was £54 000.
6. The financial asset refers to two loans made during the year. The first loan was made to a partner agency. The loan was supported by the National Loans Fund and was for £160 000. A repayment of £10 000 was received and has not yet been passed to the National Loans Fund. The second loan was for £90 000 and was made from the Department's own resources and a repayment of £15 000 was received during the year. No interest was charged on this loan.
Prepare the statement of cash flows for the year ended 31 March 20X9 using the below template.
Cash flows from operating activities: | |
Net cash inflow/(outflow) from operating activities | |
Cash flows from investing activities: | |
Net cash inflow/(outflow) from investing activities | |
Net cash inflow/(outflow) before financing | |
Cash flows from financing activities: | |
Net cash inflow/(outflow) from financing activities | |
Net increase/(decrease) in cash and cash equivalents | |
Cash and cash equivalents at 31 March 20X8 | |
Cash and cash equivalents at 31 March 20X9 |
OM operations management
ISBN: 978-1285451374
5th edition
Authors: David Alan Collier, James R. Evans