2022 ANNUAL REPORT

41 FINANCIAL REPORT STATEMENT OF CASH FLOWS F O R T H E Y E A R E ND E D 3 0 S E P T E M B E R 2 0 2 2 2022 2021 £ £ Cash flows from operating activities Surplus for the financial year 689,623 1,331,476 Adjustments for: Amortisation of intangible assets (278,682) (278,330) Depreciation of tangible assets 724,411 742,677 Interest paid 288,094 311,403 Interest received (4,514) (1,674) Taxation charge 180,038 580,023 (Increase) in stocks (68,286) (431) Decrease / (increase) in debtors 185,020 (27,070) (Decrease) / increase in creditors (1,265,025) 931,360 Corporation tax (paid) (391,468) (35,551) Net cash generated from operating activities 59,211 3,553,883 Cash flows from investing activities Purchase of tangible fixed assets (161,975) (101,711) Interest received 4,514 1,674 Net cash from investing activities (157,461) (100,037) Cash flows from financing activities Increase in share capital 15 116 New secured loans - 2,000,000 Repayment of loans (2,435,494) (919,946) Repayment of / new finance leases (13,329) (31,633) Interest paid (288,094) (311,403) Net cash used in financing activities (2,736,902) 737,134 Net (decrease) / increase in cash and cash equivalents (2,835,152) 4,190,980 Cash and cash equivalents at the beginning of year 5,917,198 1,726,218 Cash and cash equivalents at the end of year 3,082,046 5,917,198 Cash and cash equivalents at the end of year comprise: Cash at bank and in hand 3,082,046 5,917,198 The notes on pages 42 to 49 form part of these financial statements.