85 / 100
See accompanying notes to financial statements.
STATEMENT OF CASH FLOWS
YEAR ENDED 31 MARCH 2016
2016
2015
$
$
Operating activities
Deficit for the year
(343,155)
(330,089)
Adjustments for:
Depreciation of plant and equipment (Note 8)
577,471
600,541
Amortisation of intangible assets (Note 9)
133,903
95,393
Write off of plant and equipment
8,978
-
Government grants (Note 16)
(15,227,443)
(14,395,489)
Deferred capital grant amortised (Note 12)
(307,554)
(268,232)
Interest income (Note 14)
(222,673)
(184,090)
Operating cash flows before working capital changes
(15,380,473)
(14,481,966)
Changes in working capital:
Other receivables
(10,087)
(29,484)
Prepayments
(338,673)
19,019
Trade and other payables
402,143
(422,137)
Cash used in operations
(15,327,090)
(14,914,568)
Contribution to consolidated fund
-
-
Net cash flows used in operating activities
(15,327,090)
(14,914,568)
Investing activities
Purchase of plant and equipment (Note 8)
(61,660)
(3,082)
Acquisition of intangible assets (Note 9)
(5,778)
(267,000)
Interest received
161,188
120,779
Net cash flows from (used in) investing activities
93,750
(149,303)
Government grants received, representing
cash flows from financing activity
15,331,491 14,698,400
Net increase (decrease) in cash and cash equivalents
98,151
(365,471)
Cash and cash equivalents at the beginning of the financial year
19,603,508
19,968,979
Cash and cash equivalents at the end of the financial year
19,701,659 19,603,508
83
CCS ANNUAL REPORT 2015-2016
FINANCIAL STATEMENTS