159
FINANCIAL STATEMENTS
STATEMENT OF CASH FLOWS OF THE COMPANY FOR THE YEAR ENDED 31 DECEMBER 2019
Year ended 31 December 2019 £m
Year ended 31 December 2018 £m
Cash flows from operating activities Loss before tax
(101.0)
(5.0)
95.9
Impairment of investments in Group undertakings
–
(1.0)
Share-based payments
(1.2)
(14.1) (34.3)
Income from shares in and loans to Group undertakings
(25.0) (24.0)
Interest income Interest expense
35.5
31.6
3.6
Decrease/(increase) in prepayments and accrued income
(3.8)
(6.0)
(Decrease)/increase in other payables Net cash outflow from operating activities Cash flows from investing activities Decrease/(increase) in financial assets
13.8
(21.4)
(13.6)
70.3
(30.3) (50.0)
(90.0) (425.0)
Capital injections in subsidiaries
Loans to subsidiaries Dividends received
(150.0)
–
25.0
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)
(444.7)
(205.3)
73.8
0.6
292.7 124.5
–
Increase in borrowings (net of costs)
228.5
(0.2) (2.8) (3.0)
Dividends paid
(24.4)
Coupon paid on Tier 1 notes Interest paid on borrowings
–
(3.4)
Net cash inflow from financing activities
485.0
201.3
18.9 41.3 60.2
Net increase/(decrease) in cash and cash equivalents
(17.6)
Cash and cash equivalents at start of year Cash and cash equivalents at end of year
58.9 41.3
4.4
Cash available on demand Units in liquidity funds
6.8
55.8 60.2
34.5 41.3
Cash and cash equivalents at end of year
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