FINANCIAL REPORT
21 . Note to the Statement of Cash Flows
( a ) Reconciliation of ( Deficit )/ Surplus for the year to Net Cash Flows From Operating Activities
2020 2019 $ $
Surplus for the period 7,648,698 931,615 Depreciation and Amortisation of non-current assets 5,332,793 4,260,824 Interest received ( 255,283 ) ( 736,787 ) Finance costs 35,906 480,477 Government capital funding ( 186,554 ) ( 472,548 ) Decrease /( Increase ) in trade receivables and other assets 324,538 ( 1,049,210 ) ( Decrease ) in trade payables and other liabilities 5,759,750 4,888,194 Increase in provisions 2,202,590 1,076,787 Gain on disposal of fixed assets ( 7,793 ) - Net cash generated from operating activities 20,854,645 9,379,352
( b ) Reconciliation of Cash and Cash Equivalents
For the purposes of the Statement of Cash Flows , cash and cash equivalents include cash at bank and on hand . Cash and cash equivalents at the end of the financial year as shown in the Statement of Cash Flows is reconciled to the related items in the balance sheet as follows :
Cash and cash equivalents 58,150,159 51,188,845 The cash balances include maturing term deposits with a term of 3 months or less .
22 . Term deposits
Term deposits with a term of more than 3 months 5,500,000 -
Term deposits comprise term deposit investments held with various banks . The maturity periods on these investments from the date of purchase range between 3 to 10 months . Term deposits for 2019 were shown as NIL due to them all having a maturity period of less than 3 months from date of purchase until 31 December 2019 .
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