lOMoARcPSD|50713028
STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED 31 OCTOBER 20X7 $'000 Profit from operations 18,730 Finance cost (730) Profit before tax 18,000 Taxation (5,400) Profit for the year 12,600
STATEMENTS OF FINANCIAL POSITION AS AT 31 OCTOBER 20X7 20X6 $'000 $'000 $'000 $'000
Non-current assets 34,882 27,774 Current assets Inventory 3,560 10,635 Trade receivables 6,405 4,842 Cash 559 1,603 10,524 17,080 Total assets 45,406 44,854
Equity and liabilities Equity Ordinary share capital 20,000 18,000 Share premium account 4,365 3,496 Retained earnings 8,630 7,556 32,995 29,052 Non-current liabilities 9% loan notes 6,000 Current 10,300 liabilities Bank overdraft 2,330 429 Trade payables 1,841 1,213 Interest payable 220 200 Taxation 2,020 3,660 6,411 5,502
Total equity and liabilities 54,806 44,854 Additional information (a)
During the year dividends paid were $3,527 (b)
Summary schedule of changes to non-current assets during 20X7. Accumulated Carryin Cost depreciation value $'000 $'000 $'000 Balance b/f 33,218 5,444 27,774 Additions 15,129 15,130 Disposals (2,664) (990) (1,674) Depreciation 6,347 (4,658) Balance c/f 45,683 10,801 34,882
(c) The total proceeds from the disposal of non-current assets were $2,586,000. (d).
Included in trade receivables at 31 March 20X7 is an amount of £600,000 in respect
of a sales of an item of property, plant and equipment in the year that has not yet been paid for. Required
Prepare a statement of cash flows for Geofost for the year ended 31 October 20X7 in accordance with IAS 7