2023 annual report final WEB - Flipbook - Page 59
Christian Outreach Centre
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
$’000
2022
$’000
7,641
8,710
10,860
9,963
198
324
5
(411)
Interest income
(240)
(55)
Interest expense
2,237
1,011
20,701
19,542
(958)
(1,225)
(36)
(249)
Increase/(Decrease) in employee provisions
1,601
35
Increase/(Decrease) in trade and other payables
5,292
(252)
(47)
(237)
Cash generated from operations
26,553
17,614
Interest paid
(2,237)
(1,011)
Net cash flows from operating activities
24,316
16,603
(28,482)
(18,098)
86
1,566
240
55
(28,156)
(16,477)
5,891
2,818
(1,488)
(1,100)
4,403
1,718
563
1,844
Cash and cash equivalents at 1 January
14,048
12,204
Cash and cash equivalents at 31 December
14,611
14,048
Note
Operating Activities
Surplus before taxation
Adjustment for:
Depreciation
Bad and doubtful debts
Loss/(Gain) on sale of assets
(Increase)/ Decrease in trade and other receivables
Decrease/(increase) in inventories
Increase/(Decrease) in income in advance
Investing Activities
Payments for property, plant and equipment
Proceeds from sale of property, plant and equipment
Interest received
5
Net cash flows used in investing activities
Financing Activities
Proceeds/(repayment) of borrowings
Proceeds/(repayment) of lease liabilities
Net cash flows used in financing activities
Net (decrease)/increase in cash and cash equivalents
The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.
2024 INC Annual Report
59
