110 JUST GROUP PLC Annual Report and Accounts 2020
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020
Year ended 31 December 2020 £m
Year ended 31 December 2019 £m
Note
Cash flows from operating activities Profit before tax
236.7
368.6
1.2 3.9
–
Property revaluation loss through profit and loss Depreciation of property, plant and equipment
15 15 14 15 14 36
4.5
19.9
Amortisation of intangible assets
19.9
–
4.0
Impairment of property, plant and equipment
1.1
–
Impairment of intangible assets
–
Loss on disposal of associated undertaking
0.3 4.2
6.5
Share-based payments
(631.7)
Interest income Interest expense
3 6
(663.0)
159.0
186.7
(1,039.7)
Realised and unrealised gains on financial investments
(1,404.0)
866.5
Decrease in reinsurance assets
507.2
(3.7) (6.1)
Increase in prepayments and accrued income Increase in insurance and other receivables
(2.7) (4.2)
2,114.7
Increase in insurance liabilities
1,729.9
(11.2)
Decrease in investment contract liabilities Decrease in deposits received from reinsurers Increase/(decrease) in accruals and deferred income Increase/(decrease) in insurance and other payables
(143.8) (489.5)
(775.3)
3.3
(5.7) (5.7)
19.0
(162.7)
Decrease in other creditors
(44.3) 364.3 (139.1)
314.5
Interest received
(107.7) (60.6)
Interest paid Taxation paid
(14.9)
Net cash inflow from operating activities Cash flows from investing activities Additions to internally generated intangible assets Acquisition of property and equipment Net cash outflow from investing activities Cash flows from financing activities Issue of ordinary share capital (net of costs) Proceeds from issue of Tier 1 notes (net of costs)
947.6
272.7
(0.1) (2.3) (2.4)
14 15
(3.3) (1.4) (4.7)
0.3
21 22 25 13 13
73.8
–
292.7
110.6
Increase in borrowings (net of costs)
83.9
(0.1)
Dividends paid
(0.2)
(28.1) (49.8)
Coupon paid on Tier 1 notes Interest paid on borrowings
(16.8) (43.7)
(4.1) (0.2)
Payment of lease liabilities – principal Payment of lease liabilities – interest Net cash inflow from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at 1 January Cash and cash equivalents at 31 December
26 26
(2.8) (0.3)
28.6
386.6 654.6 996.4
973.8
1,651.0 2,624.8 1,496.3 1,128.5 2,624.8
1,651.0
Cash available on demand Units in liquidity funds
267.0
1,384.0 1,651.0
Cash and cash equivalents at 31 December
20
The notes are an integral part of these financial statements.
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