Annual Report & Accounts 2007-2008 - Historic Scotland

24. Notes to the cash flow statement
i. Reconciliation of deficit for the financial year to net cash flow from
operating activities
2007/08
£000
2006/07
£000
Deficit for the financial year (50,521) (43,099)
Notional charges 942 884
Depreciation on tangible and intangible fixed assets 2,523 1,459
(Gain)/loss on disposal of tangible fixed assets 7 145
(Increase)/decrease in stock 135 (27)
(Increase)/decrease in debtors (215) (734)
Increase/(decrease) in creditors and provisions 3,071 (635)
Net cash outflow from operating activities (44,058) (42,007)
ii. Capital expenditure
Additions to fixed assets 2,582 682
Increase/(decrease) in assets under construction (666) 681
Less receipts from sale of tangible fixed assets (9) (41)
Net capital expenditure for year 1,907 1,322
iii. Analysis of changes in cash during the year
Opening balance at 1 April 2007 3,071 4,778
Net cash inflow/(outflow) during year 2,535 (1,707)
Closing balance at 31 March 2008 5,606 3,071
iv. Financing
Scottish Government funding for year 48,983 41,916
Movement on Scottish Government (debtor)/creditor (483) (294)
Scottish Government cash funding for year 48,500 41,622
25. Contingent liabilities
There were no material contingent liabilities at 31 March 2008. (31 March 2007: nil).
REPORT & ACCOUNTS 73