Financial Statements 2017 Financial Statements 2017 | Page 58

STATEMENT OF CHANGES IN RESERVES
Income and expenditure reserve £’ 000
At 1 April 2015
121,136
Surplus for the year
7,148
Actuarial gain in respect of pension schemes
49
As at 31 March 2016 128,333
At 1 April 2016
128,333
Surplus for the year
8,687
Actuarial gain in respect of pension schemes
( 239)
As at 31 March 2017 136,781
STATEMENT OF CASH FLOWS
2017 2016
Note £’ 000 £’ 000
Net Cash generated from operating activities 31 30,820 25,540
Cash flow from investing activities Purchase of tangible fixed assets
( 39,671)
( 21,434)
Proceeds from sale of tangible fixed assets
4,109
2,003
Investments
10
285
Stock
1,110
3,346
Grants received
3,449
6,824
Interest received
23
35
( 30,970)( 8,941)
Corporation tax paid( 69)( 21)
Cash flow from financing activities Interest paid
( 17,929)
( 17,368)
New secured loans
27,500
13,500
Repayments of borrowings
( 12,910)
( 9,774)
( 3,339)( 13,642)
Net change in cash and cash equivalents
( 3,558)
2,936
Cash & cash equivalents at beginning of the year
10,439
7,503
Cash & cash equivalents at end of the year 6,881 10,439
56 Accord Housing Association