SI Annual Report 2016
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Saunders International Limited<br />
Notes to the Financial Statements<br />
19. NOTES TO THE STATEMENT OF CASH FLOWS<br />
(a) Cash and cash equivalents<br />
<strong>2016</strong><br />
$’000<br />
2015<br />
$’000<br />
For the purposes of the statement of cash flows, cash and cash equivalents includes<br />
cash on hand and in banks and investments in money market instruments, net of<br />
outstanding bank overdrafts. Cash and cash equivalents at the end of the financial<br />
year as shown in the statement of cash flows is reconciled to the related items in the<br />
statement of financial position as follows:<br />
Cash and cash equivalents 14,347 17,874<br />
(b) Reconciliation of profit for the year to net cash flows from operating activities<br />
Profit for the year 2,891 4,431<br />
Movement in share-based reserve 172 33<br />
(Gain)/ Loss on disposal/revaluation of non-current asset (18) (14)<br />
Depreciation 619 638<br />
Changes in net assets and liabilities:<br />
(Increase)/decrease in assets:<br />
Increase/(decrease) in current tax liability (107) (917)<br />
(Increase)/decrease in current tax asset (28) -<br />
Decrease in deferred tax balances 129 385<br />
Trade and other receivables (2,071) 5,659<br />
Inventories 530 (310)<br />
Other assets 8 (40)<br />
Increase/(decrease) in liabilities:<br />
Trade and other payables 1,245 (2,175)<br />
Deferred revenue (1,379) (1,510)<br />
Provisions (422) (944)<br />
Net cash from operating activities 1,569 5,236<br />
(c) Financing facilities<br />
The Company’s principal financing facilities for the provision of bank guarantees as<br />
described in note 20 is secured by a fixed and floating charge over the assets of the<br />
Company.<br />
Amount used 3,128 4,929<br />
Amount unused 3,872 2,071<br />
7,000 7,000
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