Pinewood Shepperton plc Annual Report ... - Pinewood Studios

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52 Pinewood Shepperton plc Annual Report & Accounts 2010Group statement of financial positionat 31 DecemberAssetsNon-current assetsProperty, plant and equipment 14 115,385 112,570Investment property 15 6,360 6,342Intangible assets 16 5,604 5,604Long-term asset 17 347 –127,696 124,516Current assetsInventories 19 491 337Trade and other receivables 18 5,355 2,424Prepayments 1,980 2,771Cash 495 –8,321 5,532Total assets 136,017 130,048Equity and liabilitiesEquity attributable to equity holders of parentShare capital 20 4,623 4,610Share premium 20 43,692 43,692Capital redemption reserve 20 135 135Merger reserve 20 348 348Fair value of cash flow hedge 20 (1,186) (927)Retained earnings 27,448 24,692Total equity 75,060 72,550Non-current liabilitiesInterest-bearing loans and borrowings 21 43,190 45,149Deferred tax liabilities 11 1,306 1,89444,496 47,043Current liabilitiesTrade and other payables 22 15,387 8,548Interest-bearing loans and borrowings 21 – 944Tax payable 1,074 96316,461 10,455Total liabilities 60,957 57,498Total equity and liabilities 136,017 130,048The financial statements were approved by the Board of Directors on 7 March 2011 and are signed on its behalf by:Patrick Garner FCAFinance DirectorNotes2010£0002009£000
Pinewood Shepperton plc Annual Report & Accounts 2010 53Group statement of cash flowsfor the year ended 31 DecemberNotesCash flow from operating activitiesProfit before tax 5,819 4,451Adjustments to reconcile profit before tax to net cash flowsExceptional items – non cash 7 (126) (804)Depreciation 4 3,755 3,699Share-based payment charges 202 196Finance costs 9 3,309 3,171Cash flow from operating activities before changes in working capital 12,959 10,713(Increase)/decrease in trade and other receivables (2,140) 252(Increase)/decrease in inventories (154) 76Increase/(decrease) in trade and other payables 6,891 (2,537)Cash generated from operations 17,556 8,504Finance costs paid (2,990) (2,831)Corporation tax paid (1,906) (1,499)Net cash flow from operating activities 12,660 4,174Cash flow from/(used in) investing activitiesProceeds from insurance for 007 Stage – 439Purchase of property, plant and equipment (6,673) (5,652)Additions to investment property – (696)Additions to long-term assets (347) –Net cash flow used in investing activities (7,020) (5,909)Cash flow (used in)/from financing activitiesPayment of asset financing liabilities (379) (77)Payment of loan issue fees – (24)Dividends paid 12 (1,619) (1,541)Proceeds from asset financing 1,297 1,000Proceeds from borrowings of joint venture – 631Repayment of bank borrowings (3,500) –Proceeds from bank borrowings – 2,000Net cash flow from financing activities (4,201) 1,989Net increase in cash 1,439 254Overdraft at the start of the year (944) (1,198)Cash/(overdraft) at the end of the year 495 (944)2010£0002009£000
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