Jersey Post Annual Report and Accounts | 2012 - States Assembly

Jersey Post Annual Report and Accounts | 2012
24. Post balance sheet event
On 26 March 2013, JPIL received an insurance settlement to the value of £68,409 in relation to the fraud committed by an
ex member of staff which is referred to on page 24. This receipt has not been accounted for in 2012.
25. Notes to the Cash Flow Statement
a) Reconciliation of Operating Profit to Net Cash (Outflow)/inflow from Operating Activities
2012 2011
£’000 £’000
Operating profit 791 1,920
FRS17 charge / (credit) 1,027 (1,010)
Provision for Special Dividend (1,500) -
Add depreciation charge 880 988
Decrease/(increase) in stock 6 (39)
Decrease/(increase) in debtors 4,849 (132)
(Decrease)/increase in creditors due within one year (7,455) 5,870
Loss on write-off of fixed assets _______- _______ 71
Net cash (outflow)/inflow from operating activities (1,402)
_______
7,668
_______
The restatement of 2011 figures is due to a change in accounting treatment as explained in Notes 13 and 15.
b) Analysis of Changes in Net Funds
1 January 2012 Cash Flow 31 December 2012
£’000 £’000 £’000
Cash 3,626 440 4,066
Debt due within one year - - -
Debt due after one year - - -
Short-term deposits 15,276 (7,695) 7,581
_______ _______ _______
18,902 (7,255) 11,647
_______ _______ _______
Monies held on seven day and month deposit meet the definition within FRS1 “Cash flow statements” of liquid resources
and are disclosed above as short-term deposits.
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