Financial Statements
Strategic Report
Governance
Additional Information
Consolidated statement of cash flows for the year ended 31 March 2023
2023 £000
2022 £000
Notes
Operating activities Operating (loss)/profit
(80,520) 111,655
159,533 (129,010)
Adjustments for non-cash items
21
24
Interest received Interest paid
–
(7,937)
(8,102) (3,305)
101 (291)
Decrease/(increase) in accounts receivable (Decrease)/increase in accounts payable and accruals
897
Cash inflows from operating activities
23,032
20,013
Investing activities Purchase of investment properties
(20,613) (6,135)
13 13 13 14
(25,005) (9,551)
Capital expenditure on investment properties Disposal of investment properties
–
726
(13)
Purchase of tangible assets
(3)
Cash outflows from investing activities
(26,761)
(33,833)
Financing activities Borrowings repaid Borrowings drawn Debt prepayment fees
(6,368) 12,000 (183) (1,126) (19,091) –
18 18 18 18
(26,917) 79,545 (4,045)
Financing costs
(419) (730)
Purchase of shares held in trust
7
Dividends paid
10
(18,425)
Cash (outflows)/inflows from financing activities
(14,768)
29,009
Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at beginning of year
(18,497) 38,547
15,189 23,358
Cash and cash equivalents at end of year
20,050
16
38,547
Notes 1 to 27 form part of these consolidated financial statements.
Picton Property Income Limited Annual Report 2023
135
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