Page 62 - Honeywell Annual Report 2021 comm 10 09 v17a.cdr

Statement Of Cash Flows

For the Year Ended 31 March, 2021

Cash flows from operating activities 2021 2020
Notes N'000 N'000
Profit before taxation 1,576,746 1,270,237
Adjustments for:
Depreciation and amortisation 24 4,663,976 3,884,048
Inventories write down 7 42,012 -
Movement in expected credit loss 8 (24,587) -
Profit on assets disposal 18 (10,268) -
Finance costs 21 6,069,303 4,227,396
Police Trust Fund Development levy 22 (56) (33)
Movements in retirement benefit assets and liabilities - (234,273)
Changes in working capital:
Inventories 7 (2,296,293) (3,422,603)
Trade and other receivables 8 1,787,576 (1,025,561)
Prepayments 9 (611,033) 19,850
Trade and other payables 13 2,312,318 1,043,321
Cash generated from operations 13,509,694 5,762,382
Under provision for tax in prior year
Tax paid 14.2 (629,255) (345,084)
Net cash from operating activities 12,880,439 5,417,298

Cash flows from investing activities
Purchase of property, plant and equipment 5 (641,523) (2,574,004)
Sale of property, plant and equipment 5 11,845 -
Purchase of other intangible assets 6 (112,081) (21,243)
Net cash from investing activities (741,759) (2,595,247)

Cash flow from financing activities
Finance costs 21 (6,069,303) (4,227,396)
Dividend paid (317,208) -
Increase in borrowings 11 5,147,805 2,910,054
Net cash from financing activities (1,238,706) (1,317,342)

Total cash movement for the year 10,899,974 1,504,709
Cash at the beginning of the year 9,355,419 7,850,710
Total cash at end of the year 10 20,255,393 9,355,419

The accounting policies and the notes on pages 63 to 100 form an integral part of these financial statements.

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