Consolidated statement of cash flows
for the year ended 31 December 2010
|
|
|
|
|
|
|
Note
|
2010
£’000
|
2009
£’000
|
|
Operating activities
|
|
|
|
|
Profit for the year
|
|
7,453
|
5,432
|
|
Adjustments for:
|
|
|
|
|
Financial income
|
|
(1,937)
|
(1,711)
|
|
Financial expense
|
|
1,821
|
1,884
|
|
Income tax expense
|
|
3,846
|
1,190
|
|
Share based payments
|
|
312
|
197
|
|
Adjustment to profit on sale of businesses in prior years
|
|
-
|
(2,140)
|
|
Depreciation of property, plant and equipment
|
|
2,012
|
1,525
|
|
Amortisation of intangible assets
|
|
1,588
|
1,143
|
|
Operating cash flow before movements in working capital
|
|
15,095
|
8,320
|
|
Decrease in inventories
|
|
847
|
2,882
|
|
Increase in trade and other receivables
|
|
(233)
|
(240)
|
|
(Decrease)/Increase in trade and other payables
|
|
(424)
|
1,342
|
|
Penision contributions in excess of the income statement
|
|
(1,269)
|
(1,305)
|
|
Cash generated from operations
|
|
14,016
|
10,999
|
|
Income taxes paid
|
|
(4,657)
|
(1,581)
|
|
Interest paid
|
|
(25)
|
-
|
|
Net cash generated from operating activities
|
|
9,334
|
9,418
|
|
Investing activities
|
|
|
|
|
Acquisition of subsidiary,net of cash acquired
|
|
(2,047)
|
-
|
|
Interest received
|
|
23
|
12
|
|
Capital expenditure
|
|
(2,767)
|
(1,576)
|
|
Capitalised Expenditure on development
|
|
(1,208)
|
(996)
|
|
Sale of tangible fixed assets
|
|
12
|
22
|
Net cash used in investing activities
Financing Activities
|
|
(6,014)
|
(2,508)
|
|
Dividends returned
|
|
6
|
-
|
|
Dividends paid
|
|
(2,228)
|
(1,937)
|
|
Net cash used in financing activities
|
|
(2,222)
|
(1,937)
|
|
Net increase in cash and cash equivalents
|
|
1,098
|
4,973
|
|
Cash and cash equivalents at beginning of the year
|
|
9,092
|
4,145
|
|
Effect of exchange rates on cash held
|
|
169
|
(26)
|
|
Cash and cash equivalents at end of period
|
16 |
10,359
|
9,092
|
|
|
|
|
|
