The statements of financial position of Asterix plc as at 31 May 2013 and 31 May 2012
are as follows:
| 31-May-13 | 31-May-12 | |||
| £000 | £000 | £000 | £000 | |
| Non-current assets (net book value) | 43,000 | 32,000 | ||
| Current assets | ||||
| Inventory | 19,000 | 18,000 | ||
| Trade receivables | 9,000 | 7,500 | ||
| Bank | 2,800 | |||
| 28,000 | 28,300 | |||
| Less Current liabilities | ||||
| Trade payables | 6,100 | 9,900 | ||
| Taxation | 5,000 | 4,000 | ||
| Bank overdraft | 5,700 | – | ||
| (16,800) | (13,900) | |||
| Net current assets | ||||
| Total net assets | 11,200 | 14,400 | ||
| Equity | 54,200 | 46,400 | ||
| Share capital | 34,000 | 33,000 | ||
| Share premium account | 300 | 200 | ||
| Retained earnings | 19,900 | 13,200 | ||
| Total equity | 54,200 | 46,400 | ||
The summarised income statements for the two years ended 31 May 2013 are as follows:
| 2013 £000 |
2012 £000 |
|
| Gross profit | 46,100 | 38,900 |
| Less Expenses (including depreciation £6m in 2013) | (17,000) | (20,900) |
| 29,100 | 18,000 | |
| Less Loss on sale of non-current assets | (3,200) | – |
| Operating profit before interest | 25,900 | 18,000 |
| Interest payable | (1,200) | (1,200) |
| Profit for the year | 24,700 | 16,800 |
| Less Taxation | (5,000) | (4,000) |
| Profit after tax | 19,700 | 12,800 |
| Less Dividends paid | (13,000) | (2,000) |
| Retained profits for the year | 6,700 | 10,800 |
| Retained profits brought forward | 13,200 | 2,400 |
| Retained profits carried forward | 19,900 | 13,200 |
Notes:
1 A summary of the company’s non-current assets for the year ended 31 May 2013 is
shown below (£000s):
| 1 June 2012 Opening balance | 76,000 |
| 31 May 2013 Additions | 22,000 |
| 98,000 | |
| 31 May 2013 Sales | (8,000) |
| 31 May 2013 Closing balance | 90,000 |
2 The assets which were sold realised £1.8m, which represented a loss on disposal of
£3.2m when compared with their depreciated value.
Produce a cash flow statement for the year ended 31 May 2013.
