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On Top of Our Game 72
Financial Statements
Statement of Cash Flows
Year ended 31 March 2014
2014 2013
$ $
Operating activities
(Deficit) Surplus for the year (50,003) 1,609,807
Adjustments for:
Depreciation of plant and equipment 573,592 510,181
Amortisation of intangible assets 39,193 45,618
Loss on disposal of plant and equipment 27,752 -
Contribution to consolidated fund - 329,720
Government grants (14,145,926) (13,775,921)
Deferred capital grant amortised (183,996) (118,773)
Interest income (93,930) (83,499)
Operating cash flows before working capital changes (13,833,318) (11,482,867)
Changes in working capital:
Other receivables 12,859 (10,487)
Prepayments (9,445) 35,421
Trade and other payables 136,795 152,381
Net cash used in operating activities (13,693,109) (11,305,552)
Contribution to consolidated fund (329,720) (83,313)
Net cash flows used in operating activities (14,022,829) (11,388,865)
Investing activities
Purchase of plant and equipment (46,090) (499,499)
Acquisition of intangible assets (Note 9) (330,215) (83,841)
Proceeds from disposal of plant and equipment 450 -
Interest received 86,466 87,535
Net cash flows used in investing activities (289,389) (495,805)
Financing activity
Government grants received, representing
net cash flows from financing activity 14,560,400 14,392,200
Net increase in cash and cash equivalents 248,182 2,507,530
Cash and cash equivalents at the beginning of the financial year 19,720,797 17,213,267
Cash and cash equivalents at the end of the financial year 19,968,979 19,720,797
See accompanying notes to financial statements.
Financial Statements
Statement of Cash Flows
Year ended 31 March 2014
2014 2013
$ $
Operating activities
(Deficit) Surplus for the year (50,003) 1,609,807
Adjustments for:
Depreciation of plant and equipment 573,592 510,181
Amortisation of intangible assets 39,193 45,618
Loss on disposal of plant and equipment 27,752 -
Contribution to consolidated fund - 329,720
Government grants (14,145,926) (13,775,921)
Deferred capital grant amortised (183,996) (118,773)
Interest income (93,930) (83,499)
Operating cash flows before working capital changes (13,833,318) (11,482,867)
Changes in working capital:
Other receivables 12,859 (10,487)
Prepayments (9,445) 35,421
Trade and other payables 136,795 152,381
Net cash used in operating activities (13,693,109) (11,305,552)
Contribution to consolidated fund (329,720) (83,313)
Net cash flows used in operating activities (14,022,829) (11,388,865)
Investing activities
Purchase of plant and equipment (46,090) (499,499)
Acquisition of intangible assets (Note 9) (330,215) (83,841)
Proceeds from disposal of plant and equipment 450 -
Interest received 86,466 87,535
Net cash flows used in investing activities (289,389) (495,805)
Financing activity
Government grants received, representing
net cash flows from financing activity 14,560,400 14,392,200
Net increase in cash and cash equivalents 248,182 2,507,530
Cash and cash equivalents at the beginning of the financial year 19,720,797 17,213,267
Cash and cash equivalents at the end of the financial year 19,968,979 19,720,797
See accompanying notes to financial statements.
