Minerva Equity Limited - 31 March 2019 Final 19.08.2019 - Flipbook - Page 63
Minerva Equity Limited (formerly DMWSL 881 Limited)
Notes to the financial statements
for the period ended 31 March 2019 (continued)
25 Note to the cash flow statement
Reconciliation of operating profit to net cash inflow from operating activities:
Period
ended
31 March
2019
£m
Note
(19.5)
Loss for the period
0.9
Tax on loss
Net interest expense
31.2
Operating profit
12.6
Profit on disposal of fixed assets
(0.3)
7
Depreciation
7,13
4.2
Amortisation
7,12
27.8
Decrease in working capital including
pensions
41.5
Net cash inflow from operating activities
85.8
Analysis of changes in net debt
At 27 March
2018
Cash flows
Acquired
At 31 March
2019
£m
£m
£m
£m
Cash at bank
-
29.2
27.1
56.3
Finance leases
-
0.3
(20.6)
(20.3)
Senior loan
-
(23.4)
(301.6)
(325.0)
RCF
-
(8.0)
(22.0)
(30.0)
Shareholder loan notes
-
(89.4)
(90.8)
(180.2)
Total
-
(91.3)
(407.9)
(499.2)
Interest of £13.1 million on the shareholder loan notes is included within accruals.
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