31. NOTES TO THE CASH FLOW STATEMENT
Reconciliation of operating surplus to net cash inflow from operating activities
2018
2017
£’000
£’000
Surplus for the year
10,775
8,770
Adjustments for non-cash items:
Depreciation of tangible fixed assets
9,519
8,942
Amortisation of intangible assets
1,857
1,529
Decrease/ (Increase) in trade debtors and other debtors
544
(999)
Increase in trade and other creditors
2,175
116
Disposal of other fixed assets
15
23
Adjustment re component accounting disposal
150
280
Adjustments for investing or financing activities:
Disposal of tangible fixed assets
(962)
(1,011)
Amortisation of finance costs
(411)
188
Government grants utilised in the year
(2,527)
(2,532)
Interest payable
16,535
15,537
Interest received
(21)
(23)
Net cash generated from operating activities
37,649
30,820
32. FINANCIAL ASSETS AND LIABILITIES
2018 2017
£’000
£’000
Financial assets that are debt instruments measured at amortised cost
Other debtors
13,540
14,491
Financial liabilities measured at amortised cost
Bank overdraft
1,202
1,368
Loans
426,017
410,165
Trade and other creditors
23,810
16,134
451,029
427,667
33. POST BALANCE SHEET EVENTS
Since the Balance Sheet date the following Post Balance Sheet Events have occurred:
On 21 June 2018 Accord entered into a £100m Private Placement arrangement. The facility will be split over three tranches. The
initial tranche of £50m was completed in June 2018. Two subsequent tranches of £25m each will be drawn down at a later date.
In June 2018 Accord acquired properties from two other Housing Associations for a combined total amount of £14.1m. These
properties were acquired with existing tenancies and are all currently let at social or affordable rent.
68
Accord Housing Association