Annual Report 2011 - Watercare
Annual Report 2011 - Watercare
Annual Report 2011 - Watercare
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<strong>Watercare</strong> Services Limited<br />
<strong>2011</strong> ANNUAL REPORT<br />
STATEMENT OF CASH FLOWS<br />
FOR THE YEAR ENDED 30 JUNE <strong>2011</strong><br />
group and Company Company<br />
<strong>2011</strong> 2010<br />
Notes $000 $000<br />
OPERATING ACTIVITIES<br />
Cash was provided from:<br />
Receipts from customers 384,722 196,377<br />
Dividends received 34 49<br />
Interest received 1,041 583<br />
385,797 197,009<br />
Cash was applied to:<br />
Employees and suppliers (153,203) (89,830)<br />
Finance costs paid (56,559) (32,555)<br />
(209,762) (122,385)<br />
Net cash flows – operating activities Note 7, page 83 176,035 74,624<br />
INVESTING ACTIVITIES<br />
Cash was provided from:<br />
Contributions to fund property, plant and equipment - 1,111<br />
Cash acquired from Manukau Water Limited Note 11, page 86 11,953 -<br />
Sale of property, plant and equipment 70 25<br />
12,023 1,136<br />
Cash was applied to:<br />
Purchase and construction of property, plant and equipment (193,935) (121,546)<br />
Interest capitalised on construction of property, plant and equipment Note 5, page 82 (4,714) (5,835)<br />
Bank overdraft acquired from Metrowater Limited Note 11, page 86 (5,605) -<br />
(204,254) (127,381)<br />
Net cash flows – investing activities (192,231) (126,245)<br />
FINANCING ACTIVITIES<br />
Cash was provided from:<br />
Short-term deposits 15,000 85,000<br />
Proceeds from medium-term notes issue 150,000 50,000<br />
Commercial paper issued (net) 24,916 44,665<br />
Revolving credit facility (net) - 21,300<br />
189,916 200,965<br />
Cash was applied to:<br />
Revolving credit facility (net) (5,000) -<br />
Repay medium-term notes issue - (150,000)<br />
Repay loan from Auckland Council – related party Note 22, page 103 (168,800) -<br />
(173,800) (150,000)<br />
Net cash flows – financing activities 16,116 50,965<br />
Net change in cash flows (80) (656)<br />
Bank (overdraft)/balance at beginning of year (446) 210<br />
<strong>2011</strong> Financial <strong>Report</strong><br />
PAGE 70<br />
Net bank overdraft at the end of the year (526) (446)<br />
Net bank overdraft at the end of the year comprises of:<br />
Cash and cash equivalents 32 -<br />
Bank overdraft (558) (446)<br />
(526) (446)<br />
The financial statements should be read in conjunction with the accounting policies and notes on pages 74 to 105.<br />
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