The following are the financial statements for Nailsea plc for the years ended 30 June 2009 and 2010:
|
Income statement for years ended 30 June |
||
|
2009 |
2010 |
|
|
£m |
£m |
|
|
Revenue |
1,230 |
2,280 |
|
Operating expenses |
(722) |
(1,618) |
|
Depreciation |
(270) |
(320) |
|
Operating profit |
238 |
342 |
|
Interest payable |
– |
(27) |
|
Profit before taxation |
238 |
315 |
|
Taxation |
(110) |
(140) |
|
Profit for the year |
128 |
175 |
|
Statements of financial position as at 30 June |
||
|
2009 |
2010 |
|
|
£m |
£m |
|
|
ASSETS |
||
|
Non-current assets |
||
|
Property, plant and equipment (at carrying amount) |
||
|
Land and buildings |
1,500 |
1,900 |
|
Plant and machinery |
810 |
740 |
|
2,310 |
2,640 |
|
|
Current assets |
||
|
Inventories |
275 |
450 |
|
Trade receivables |
100 |
250 |
|
Bank |
– |
118 |
|
375 |
818 |
|
|
Total assets |
2,685 |
3,458 |
|
EQUITY AND LIABILITIES |
||
|
Equity |
||
|
Share capital (fully paid £1 shares) |
1,400 |
1,600 |
|
Share premium account |
200 |
300 |
|
Retained profits |
828 |
958 |
|
2,428 |
2,858 |
|
|
Non-current liabilities |
||
|
Borrowings – 9% loan notes (repayable 2011) |
– |
300 |
|
Current liabilities |
||
|
Borrowings (all bank overdraft) |
32 |
– |
|
Trade payables |
170 |
230 |
|
Taxation |
55 |
70 |
|
257 |
300 |
|
|
Total equity and liabilities |
2,685 |
3,458 |
There were no disposals of non-current assets in either year. Dividends were paid in 2009 and 2010 of £40 million and £45 million, respectively.
Required :
Prepare a statement of cash flows for Nailsea plc for the year ended 30 June 2010.