Group cash flow statement
for the year ended 31 December 2009
| Year ended 31 December | Year ended 31 December | ||
|---|---|---|---|
| 2009 | 2008 | ||
| (restated) | |||
| £000 | £000 | ||
| Cash flow from operating activities | |||
| Profit before tax | 4,451 | 5,933 | |
| Adjustments to reconcile profit before tax to net cash flows | |||
| Exceptional income | (804) | – | |
| Depreciation | 3,699 | 3,594 | |
| Share-based payment charges | 196 | 516 | |
| Finance costs | 3,171 | 2,424 | |
| Cash flow from operating activities before changes in working capital | 10,713 | 12,467 | |
| Decrease in trade and other receivables | 252 | 822 | |
| Decrease/(increase) in inventories | 76 | (2) | |
| Decrease in trade and other payables | (2,537) | (3,683) | |
| Cash generated from operations | 8,504 | 9,604 | |
| Finance costs paid | (2,831) | (1,801) | |
| Corporation tax paid | (1,499) | (750) | |
| Net cash flow from operating activities | 4,174 | 7,053 | |
| Cash flow from/(used in) investing activities | |||
| Proceeds from insurance for 007 Stage | 439 | – | |
| Purchase of property, plant and equipment | (5,652) | (10,967) | |
| Additions to investment property | (696) | (5,646) | |
| Net cash flow used in investing activities | (5,909) | (16,613) | |
| Cash flow (used in)/from financing activities | |||
| Proceeds from the issue of shares | – | 80 | |
| Payment of asset financing liabilities | (77) | – | |
| Payment of loan issue fees | (24) | (1,385) | |
| Dividends paid | (1,541) | (1,538) | |
| Proceeds from asset financing | 1,000 | – | |
| Proceeds from borrowings of joint venture | 631 | 1,371 | |
| Repayment of bank borrowings | – | (26,000) | |
| Proceeds from bank borrowings | 2,000 | 35,000 | |
| Net cash flow from financing activities | 1,989 | 7,528 | |
| Net increase/(decrease) in cash | 254 | (2,032) | |
| (Overdraft)/cash at the start of the year | (1,198) | 834 | |
| Overdraft at the end of the year | (944) | (1,198) | |
