267694 EdinburghIT AR 2024 WEB - Flipbook - Page 63
THE EDINBURGH INVESTMENT TRUST PLC / FINANCIAL REVIEW / 61
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH
Notes
2024
£’000
2023
£’000
134,980
48,757
Cash flow from operating activities
Net return before finance costs and taxation
Tax on overseas income
6
(316)
(781)
Purchase of investments
(329,331)
(254,040)
Sale of investments
444,660
Adjustments for:
Gains on investments held at fair value
(99,095)
Decrease/(increase) in debtors
2,280
(Decrease)/increase in creditors
(2,211)
Net cash inflow from operating activities
150,967
251,961
(6,023)
(2,706)
37
37,205
Cash flow from financing activities
Interest paid on overdraft
Interest and commitment fees paid on bank facility
Interest paid on Unsecured Senior Loan Notes/debenture stocks
(9)
(3)
–
(12)
(2,093)
Issue of Unsecured Senior Loan Notes
Redemption of debenture loan stock
Shares bought back and held in treasury
Dividends paid
8
Net cash outflow from financing activities
(4,372)
–
100,000
–
(100,000)
(91,888)
(35,873)
(43,025)
(43,311)
(137,015)
(83,571)
Net increase/(decrease) in cash and cash equivalents
13,952
(46,366)
Cash and cash equivalents at start of the year
22,362
68,728
Cash and cash equivalents at the end of the year
36,314
22,362
Reconciliation of cash and cash equivalents to the Balance Sheet is as follows:
Cash held at custodian
2,768
1,093
Goldman Sachs Liquidity Reserve International Fund - Money Market Fund
33,546
21,269
Cash and cash equivalents
36,314
22,362
43,681
45,820
11
6
Cash flow from operating activities includes:
Dividends received
Interest received
At 1 April
2023
£’000
Cash flow
£’000
22,362
Non-cash At 31 March
movement
2024
£’000
£’000
Reconciliation of net debt
Cash and cash equivalents
Unsecured Senior Loan Notes
Total
The accompanying notes are an integral part of these financial statements.
13,952
–
(120,000)
–
–
(120,000)
36,314
(97,638)
13,952
–
(83,686)
