Financial Statements 2018 financial statement- joomag | Page 69

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