STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2019
NOTE 2019 2018 $ $
Cash flows from operating activities Receipts from members and customers
50,946,990
52,082,340
Other receipts
–
135,040
Payments to employees
(21,119,604)
(20,719,566)
Payments to suppliers
(22,969,889)
(25,022,497)
Income taxes paid
–
(1,253,487)
Interest received
15,371
51,926
Finance costs paid
(3,719,093)
(3,597,716)
Net cash provided by operating activities
23 3,153,775 1,676,040
Cash flows from investing activities Purchase of plant, equipment & software
(2,447,474)
(4,793,854)
Development of property
(307,833)
–
Proceeds from sale of property, plant & equipment
11,818
11,034,253
Net cash (used in) / provided by investing activities (2,743,489) 6,240,399
Cash flows from financing activities Proceeds from borrowings
482,305
2,000,000
(Repayment) of borrowings
–
(10,000,000)
Payments for the principal portion of lease liabilities
(1,024,638)
–
Net cash (used in) financing activities (542,333) (8,000,000) Net (decrease) in cash and cash equivalents (132,047) Cash and cash equivalents at the beginning of the year
2,053,494
(83,561) 2,137,055
Cash and cash equivalents at the end of the year 6 1,921,447 2,053,494 The accompanying notes form part of these financial statements.
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