Financial Statements
STATEMENT OF CASH FLOWS
| Year ended 31 July | Note |
2020
LKR |
2019 LKR |
| Cash flows from/(used in) operating activities | |||
| Surplus/(deficit) before tax | 137,579,804 | (522,388) | |
| Adjustments for | |||
| Depreciation of property, plant and equipment | 3.2 | 81,498,400 | 81,658,904 |
| Amortisation of intangible assets | 5 | 2,361,044 | 2,088,962 |
| Amortisation of leasehold rights | 4 | 634,941 | 634,941 |
| Profit/(Loss) on disposal of fixed assets | 16 | (53,785) | (706,061) |
| Income from investments | 15 | (48,499,253) | (43,623,580) |
| Provision for post-employment benefit plan | 9 | 96,868,090 | 49,632,278 |
| Provision for bad and doubtful debtors | 12 | 3,335,016 | 6,055,307 |
| Payable written back | 16 | (9,578,984) | – |
|
|
264,145,273 | 95,218,364 | |
| Changes in working capital | |||
| Decreased/(Increased) in receivables and prepayments | (16,722,590) | (3,082,978) | |
| (Decreased)/Increased other payables | (147,939,126) | 47,951,729 | |
| Cash generated from operating activities | 99,483,557 | 140,087,115 | |
| Post-employment benefit plan paid | 9.1 | (101,687,786) | (88,760,119) |
| Interest received | 30,180,058 | 26,414,547 | |
| Income tax paid | 17.4 | – | (29,047,344) |
| ESC paid | 17.4 | (2,967,842) | (6,050,594) |
| Net cash generated from operating activities | 25,007,987 | 42,643,605 | |
| Cash flows from/(used in) investing activities | |||
| Acquisition of property, plant and equipment | 3.1 | (26,800,313) | (57,006,951) |
| Addition of assets under construction | 3.1 | (2,749,531) | (6,312,021) |
| Purchase of intangible assets | 5 | – | (5,961,348) |
| Proceeds from disposal of property, plant and equipment | 103,220 | 1,480,261 | |
| Investments made during the year | 145,997,935 | (207,253,899) | |
| Net cash from/(used in) investing activities | 116,551,311 | (275,053,958) | |
| Cash flows from financing activities | |||
| Net receipts on school projects | 3,387,806 | 1,423,148 | |
| Net cash used in financing activities | 3,387,806 | 1,423,148 | |
| Increase/(Decrease) in cash and cash equivalents | 144,947,104 | (230,987,205) | |
| Cash and cash equivalents at the beginning of the year | 8 | 93,951,705 | 324,938,910 |
| Cash and cash equivalents at the end of the year | 8 | 238,898,809 | 93,951,705 |
The Accounting Policies and Notes on pages 78 through 94 form an integral part of the Financial Statements.
