Page 89 - CA Sri Lanka Integrated Annual Report 2023

STATEMENT OF CASH FLOWS

For the Year Ended 31 December 2023 2022
Note Page No Rs.'000 Rs.'000
Cash flows from operating activities
Income over expenditure for the year before tax 334,827 251,365
Adjustments for;
Depreciation and amortisation 5,21 101,108 71,203 87,199
Reimbursements and amortisation of restricted funds and grants 12.1 104 (4,784) (4,376)
Contribution to designated funds 11.1 103 17,294 25,551
Transfers to restricted funds and grants 12.1 104 4,199 2,593
Contribution to endowment funds 13 106 511 313
Provision for defined benefit plan 14.1 106 6,954 6,895
Loss on disposal of property, plant and equipment 23 109 - 10
Amortisation of prepaid staff cost 19 108 (173) 6,590
Finance income 24.1 109 (387,032) (243,586)
Finance cost 24.2 109 5,410 6,851
Operating income over expenditure before working capital changes 48,410 139,405

(Increase) / decrease in inventory 8 102 13,634 (15,968)
(Increase) / decrease in receivables 9 102 (36,358) (18,281)
(Increase) / decrease in loans and advances to staff 6 101 2,448 (3,414)
Increase / (decrease) in payables and advances received 16 107 7,349 760
Increase / (decrease) in deferred income 26,984 5,975
Cash generated from operations 62,466 108,477

Tax paid 17 107 (47,753) (21,703)
Gratuity paid 14 106 (11,452) (1,678)
Rent paid (29,442) (25,615)
Net cash (used in) / inflow from operating activities (26,181) 59,481

Cash flows from/ (used in) investing activities
Acquisition of property, plant and equipment and library books 3,5 99,101 (84,415) (73,182)
Acquisition of intangible assets 4 100 (7,808) (7,245)
Investments in financial assets at amortised cost (349,644) (2,525,193)
Maturity proceeds received from financial assets at amortised cost 124,644 2,376,159
Finance income received 327,971 231,903
Net cash flow from investing activities 10,748 2,442

Cash flows from / (used in) financing activities
Donations received to designated funds 11.1 103 - 18
Receipts to restricted funds and grants 12.1 104 36,053 31,457
Payments made from designated funds 11.1 103 (13,420) (12,203)
Payments made from restricted funds 12.1 104 (26,237) (24,982)
Payments made from endowment funds 13 106 - (520)
Net cash flow used in financing activities (3,604) (6,230)

Net (decrease) / increase in cash and cash equivalents (19,037) 55,693

Cash and cash equivalents at the beginning of the year 126,081 70,387
Cash and cash equivalents at the end of the year 10 102 107,044 126,081

The accounting policies and notes on pages 88 to 112 form an integral part of these financial statements.

CA Sri Lanka Integrated Annual Report 2023 87