GREATER MOMENTUM

COUNCIL FOR ESTATE AGENCIES ANNUAL REPORT 2015/16
STATEMENT OF CHANGES IN EQUITY
For the financial year ended 31 March 2016
STATEMENT OF CASH FLOWS
For the financial year ended 31 March 2016
Note
Share
capital
$’000
Reserve
$’000
Total
$’000
Note
2016
$’000
2015
$’000
Balance as at 1 April 2014
Total comprehensive income for the financial year
Balance as at 31 March 2015 and 1 April 2015
Total comprehensive income for the financial year
13 1,719
-
1,719
-
-
-
-
-
1,719
-
1,719
-
Cash flows from operating activities
Operating deficit before government grant
Adjustments:
Depreciation of plant and equipment
Amortisation of intagible assets
Interest income
Amortisation of deferred revenue
4
5
(8,599)
88
96
(59)
(8,340)
(5,746)
126
175
(11)
(8,760)
Balance as at 31 March 2016
1,719
-
1,719
Operating deficit before working capital changes
(16,814)
(14,216)
(Increase)/decrease in trade and other receivables
(Increase)/decrease in prepayments
Increase in trade and other payables
(33)
(41)
56
300
3
699
Cash flows used in operations
Deferred revenue received
Interest received
Net cash flows used in operating activities
(16,832)
8,037
59
(8,736)
(13,214)
8,467
11
(4,736)
Cash flows from investing activities
Purchase of plant and equipment
Purchase of intangible assets
Net cash flows used in investing activities
(239)
-
(239)
(56)
(29)
(85)
Cash flows from financing activities
Government grants received
IDA reimbursements received
Net cash flows from financing activities
13,712
96
13,808
2,038
-
2,038
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of the financial year
Cash and cash equivalents at end of the financial year
8
4,833
5,306
10,139
(2,783)
8,089
5,306
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
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