Financial Statements
Consolidated Cash Flow Statement
for the year ended 31 March 2006| Note | 2006 £m |
2005 £m |
||
|---|---|---|---|---|
| Cash generated from operations | 19 | 455 | 464 | |
| Interest paid | (392) | (351) | ||
| Interest received | 13 | 10 | ||
| UK Corporation tax paid | (10) | (10) | ||
| Foreign tax paid | (3) | (3) | ||
| Dividends received | – funds and joint ventures | 25 | 16 | |
| – other investments | 16 | |||
| Net cash inflow from operating activities | 104 | 126 | ||
| Cash flows from investing activities | ||||
| Purchase of investment properties and development expenditure | (402) | (509) | ||
| Foreign tax paid on property sales | (8) | (1) | ||
| Sale of investment properties | 1,889 | 81 | ||
| Sale of investments | 4 | |||
| Purchase of investments | (3) | (98) | ||
| Investment in and loans to funds and joint ventures | (21) | (23) | ||
| Capital distributions received from funds and joint ventures | 277 | |||
| Amounts repaid by funds and joint ventures | 69 | 55 | ||
| Purchase of subsidiary companies (net of cash acquired) | (815) | (36) | ||
| Net cash inflow (outflow) from investing activities | 986 | (527) | ||
| Cash flows from financing activities | ||||
| Issue of ordinary shares | 4 | 1 | ||
| Purchase of ESOP shares | (10) | (11) | ||
| Dividends paid | (84) | (77) | ||
| Issue of BL Superstores Finance PLC securitised debt | 753 | |||
| Redemption of BLSSP (Funding) PLC securitised debt | (705) | |||
| Issue of Broadgate Estate securitised debt | 2,081 | |||
| Redemption of Broadgate Funding PLC securitised debt | (1,439) | |||
| Redemption of 135 Bishopsgate Financing Ltd securitised debt | (138) | |||
| Repayment of debt acquired with subsidiary companies | (398) | (649) | ||
| (Decrease) increase in bank and other borrowings | (669) | 614 | ||
| Net cash (outflow) inflow from financing activities | (1,109) | 382 | ||
| Net decrease in cash and cash equivalents | (19) | (19) | ||
| Cash and cash equivalents at 1 April 2005 | 147 | 166 | ||
| Cash and cash equivalents at 31 March 2006 | 128 | 147 | ||
| Cash and cash equivalents consists of: | ||||
| Cash and short-term deposits | 133 | 151 | ||
| Overdrafts | (5) | (4) | ||
| 128 | 147 | |||
