Consolidated statement of cash flows

FINANCIAL STATEMENTS

Consolidated statement of cash flows

FOR THE YEAR ENDED 31 MARCH 2021

Cash flows from operating activities: Net cash used in operating activities

Cash flows from investing activities:

Dividends, interest and rents from investments Proceeds from the sale of investments Purchase of tangible fixed assets Purchase of investments Repayments of programme-related loans

Net cash used in investment activities

Cash flows from financing activities

Cash inflows from new borrowing Capital repayment of borrowing New finance leases Capital element of finance lease repayments

Net cash provided by financing activities Change in cash and cash equivalents in the reporting period

Cash and cash equivalents at the beginning of the reporting period

Cash and cash equivalents at the end of the reporting period

2021 2020 Note £’000 £’000

22 (8,927) (5,799)

4,486 5,077 26,958 29,737 (12,597) (6,428) (20,852) (28,894) 39 17 (1,966) (491)

30,000 – (10,000) – 2,580 – (574) (293) 22,006 (293) 11,113 (6,583)

37,149 43,732 48,262 37,149

Analysis of changes in net debt

Cash and cash equivalents Finance leases Borrowing

Total funds

Total funds

brought forward Other carried forward as at 1 April 2020 Cash flows movements at 31 March 2021 £’000 £’000 £’000 £’000

37,149 11,113 – 48,262

(1,374)

574 (2,580) (3,380) (10,000) (20,000) – (30,000) 25,775 (8,313) (2,580) 14,882