Picton Property Income Limited Annual Report 2022

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

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