Financial Statements
Consolidated statement of cash flows for the year ended 31 March 2022
2022 £000
2021 £000
Notes
Operating activities Operating profit
159,533
41,795
21 (129,010) (12,964)
Adjustments for non-cash items
–
Interest received Interest paid Tax received
5
(8,102)
(7,515)
–
56
(3,305)
Increase in accounts receivable
(1,983) (825)
897
Increase/(decrease) in accounts payable and accruals
Cash inflows from operating activities
20,013
18,569
Investing activities Purchase of investment properties
13 (25,005)
–
(9,551)
Capital expenditure on investment properties Disposal of investment properties
13
(4,961) 3,928 (268)
726
(3)
Purchase of tangible assets
14
Cash outflows from investing activities
(33,833)
(1,301)
Financing activities Borrowings repaid Borrowings drawn Debt prepayment fees
(26,917) 79,545 (4,045)
18 18 18 18
(1,258)
– –
(419) (730)
Financing costs
(574) (643)
Purchase of shares held in trust
7
10 (18,425) (15,002)
Dividends paid
Cash inflows/(outflows) from financing activities
29,009
(17,477)
Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year
15,189 23,358
(209)
23,567
Cash and cash equivalents at end of year
38,547
16
23,358
Notes 1 to 27 form part of these consolidated financial statements.
Picton Property Income Limited Annual Report 2022
120
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