Carphone Warehouse 2001 Annual Report Download - page 51

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24 Analysis of cash flows
a. Returns on investments and servicing of finance
2001 2000
£’000 £’000
Interest received 6,015 733
Interest paid (3,594) (893)
Interest element of finance lease rental payments (36) (36)
Net cash inflow (outflow) from returns on investments and servicing of finance 2,385 (196)
b. Taxation
UK Corporation tax paid (6,991) (7,412)
Net cash outflow from taxation (6,991) (7,412)
c. Capital expenditure and financial investment
Payments to acquire fixed asset investments (35,326) (11,584)
Payments to acquire tangible fixed assets (73,975) (36,662)
Net (outflows) receipts from (acquisition) disposal of short-term investments (35,230) 864
Receipts from sale of tangible fixed assets 2,844 392
Net cash outflow from capital expenditure and financial investment (141,687) (46,990)
d. Acquisitions and disposals
Purchase of subsidiary undertakings (39,078)(25,709)
Net cash acquired with subsidiary undertakings 3,746 503
Sale of subsidiary undertakings 16,514 3,680
Exceptional sale of assets –4,419
Net cash outflow from acquisitions and disposals (18,818) (17,107)
e. Management of liquid resources
Movement in short-term deposits 196 7,296
Net cash inflow from management of liquid resources 196 7,296
f. Financing
Net receipts from issuing shares 187,096 –
(Decrease) increase on loans (18,667) 11,425
Capital element of hire purchase and finance lease payments 179 (224)
Net cash inflow from financing 168,608 11,201
g. Analysis of changes in net debt
At Cash Acquisition of At
25 March flows subsidiary 31 March
2000 undertakings* 2001
£’000 £’000 £’000 £’000
Cash at bank and in hand 25,152 42,365 – 67,517
Overdrafts (15,414) 4,991 – (10,423)
9,738 47,356 – 57,094
Short-term deposits 196 (196) – –
Debt due within one year (12,717) 15,487 (2,884) (114)
Debt due after one year (3,180) 3,180 – –
Finance leases (255) (179) – (434)
Net (debt) funds (6,218) 65,648 (2,884) 56,546
*Excluding cash and overdrafts.
The Carphone Warehouse Group PLC Annual Report 2001 49