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Financial Statements / Continued
Consolidated statement of cash flows for the year ended 31 March 2024
2024 £000
2023 £000
Notes
Operating activities Operating profit/(loss)
4,138 27,406 (9,085) (3,350) 102
(80,520) 111,655
Adjustments for non-cash items
21
Interest received Interest paid
24
(7,937)
(Increase)/decrease in accounts receivable Increase/(decrease) in accounts payable and accruals
101 (291)
996
Cash inflows from operating activities
20,207
23,032
Investing activities Purchase of investment properties
–
13 13 14
(20,613) (6,135)
(4,458)
Capital expenditure on investment properties Purchase of property, plant and equipment
(4)
(13)
Cash outflows from investing activities
(4,462)
(26,761)
Financing activities Borrowings repaid Borrowings drawn
(1,433) 4,500
18 18 18
(6,368) 12,000 (183) (1,126) (19,091)
– –
Financing costs
Purchase of shares held in trust
7
(19,089)
Dividends paid
10
Cash outflows from financing activities
(16,022)
(14,768)
Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of year
(277)
(18,497) 38,547
20,050
Cash and cash equivalents at end of year
19,773
16
20,050
Notes 1 to 27 form part of these consolidated financial statements.
Picton Property Income Limited / Annual Report 2024 138
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