[leave77snake]

The statement of financial position of Unified plc at 30 June 2010 (with comparatives for
The previous year) is shown below:
Statement of financial position as at 30 June 2010
2010 2009
€ € € €
Assets
Non-current assets
Tangible 580,000 500,000
Less: Accumulated depreciation 340,000 260,000
240,000 240,000
Investments 38,000 88,000
278,000 328,000
Current assets
Inventories 578,000 352,000
Trade receivables 410,000 204,000
Prepayments 26,000 24,000
Cash on 7-day deposit 0 100,000
Cash at bank 0 118,000
1,014,000 798,000
1,292,000 1,126,000
Equity
Ordinary share capital 560,000 400,000
Retained profits 316,000 426,000
876,000 826,000
Liabilities
Non-current liabilities
8% Debentures 140,000 80,000
Current liabilities
Bank overdraft 80,000 0
Trade payables 178,000 126,000
Taxation 18,000 94,000
276,000 220,000
1,292,000 1,126,000
The following additional information is available:
(I) Equipment which had cost €60,000 during the year to 30 June 2007 was sold in
January 2010 for €20,000. The company depreciates equipment at 20% per annum
On cost with a full charge in the year of acquisition and none in the year of disposal.
(ii) Non-current asset investments which had cost €50,000 some years previously were
Sold during the year for €42,000.
(iii) Dividends received during the year were €10,000. Dividends totalling €200,000 were
Paid during the year.
(iv) Interest paid during the year (including debenture interest) was €16,000. All interest
Was paid on the due date and no interest was accrued at either the start or the end of
The year. No interest was received during the year.
(v) Taxation shown as a liability on 30 June 2009 was paid during the year to 30 June
2010 at the amount stated.
(vi) There was an issue of shares for cash on 1 January 2010. There were no bonus
Issues of shares during the year.
Required:
(a) Prepare a statement of cash flows for Unified Plc for the year to 30 June 2010
In accordance with the requirements of IAS 7 Statement of cash flows (using
The indirect method).