Profit from participating interests The Cooperative’s share in the results of participating interests is recognised where significant influence is exercised on commercial and financial policy.
Cash flow statement The cash flow statement has been prepared using the indirect method. In general, the cash flow statement reflects the movements in the consolidated balance sheet, with separate presentation under cash flow from investing activities in the case of the acquisition or sale of consolidated participating interests, of the acquired net asset value, less cash at bank in hand, and increased by any goodwill paid. Exchange rate movements are eliminated from balance sheet movements, as they do not represent cash flows. Partly for the above two reasons, the movements in the cash flow statement cannot always be directly derived from the movements in the related balance sheet items. Cash flows in foreign currency are translated at an average exchange rate. Exchange differences on cash are recognised separately in the cash flow statement. Profits tax and interest are stated under cash flow from operating activities. Dividends received are stated under cash flow from investing activities.
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