Edinburgh Investment Trust Half Yearly Report - Flipbook - Page 22
20 / FINANCIAL REVIEW / THE EDINBURGH INVESTMENT TRUST PLC
CONDENSED CASH FLOW STATEMENT
Six Months to 30 September
2023
£’000
2022
£’000
39,490
(134,776)
Cash flow from operating activities
Net return before finance costs and taxation
Tax on overseas income - note 4
(144)
(376)
(89,511)
(141,998)
Adjustments for:
Purchase of investments
Sale of investments
119,464
113,079
(Gains)/losses on investments held at fair value
(21,802)
159,708
Decrease in debtors
7,529
(Decrease)/increase in creditors
(1,255)
359
Net cash inflow/(outflow) from operating activities
53,771
(1,285)
2,719
Cash flow from financing activities
Interest and commitment fees paid on bank facility
(3)
Interest paid on unsecured senior loan notes/debenture stocks
(1,494)
(14)
(3,874)
Issue of unsecured senior loan notes
–
100,000
Redemption of debenture loan stock
–
(100,000)
Shares bought back and held in treasury
(32,243)
(12,017)
Dividends paid - note 5
(22,086)
(21,859)
Net cash outflow from financing activities
(55,826)
(37,764)
Net decrease in cash and cash equivalents
(2,055)
(39,049)
Cash and cash equivalents at start of the period
22,362
68,728
Cash and cash equivalents at the end of the period
20,307
29,679
Reconciliation of cash and cash equivalents to the Balance Sheet is as follows:
Cash held at custodian
Goldman Sachs Liquidity Reserve International Fund
Cash and cash equivalents
1,131
2,324
19,176
27,355
20,307
29,679
27,237
30,342
7
–
Non-cash
movement
£’000
At
30 September
2023
£’000
Cash flow from operating activities includes:
Dividends received
Interest received
At 1 April
2023 Cash flows
£’000
£’000
Reconciliation of net debt:
Cash and cash equivalents
Unsecured Senior Loan Notes
Total
22,362
(120,000)
(97,638)
(2,055)
–
(2,055)
–
20,307
–
(120,000)
–
(99,693)