Financial Statements
Statement of Cash Flows
| Year ended 31 July 2023 | Note | 2023
|
2022 LKR |
| Cash flows from/(used in) operating activities | |||
| Surplus/(deficit) before tax | (665,760,387) | 912,490,870 | |
| Adjustments for | |||
| Depreciation of property, plant and equipment | 3.2 | 92,880,583 | 73,591,863 |
| Amortisation of Intangible assets | 5 | – | 264,894 |
| Amortisation of leasehold rights | 4 | 634,941 | 634,941 |
| Profit/(loss) on disposal of fixed assets | 16 | (128,240) | (1,937,587) |
| Income from investments | 15 | (100,244,319) | (47,569,837) |
| Provision for post employment benefit plan | 9 | 203,173,632 | 136,555,288 |
| Operating profits before working capital changes | (469,443,790) | 1,074,030,432 | |
| Changes in working capital | |||
| Decreased/(increased) in receivables and prepayments | 289,056,441 | (282,123,872) | |
| (Decreased)/increased other payables | 134,905,112 | (5,440,863) | |
| Cash generated from operating activities | (45,482,237) | 786,465,697 | |
| Post employment benefit plan paid | 9.1 | (167,490,388) | (187,503,109) |
| Interest received | 15 | 100,244,319 | 47,569,837 |
| Income tax paid | 17.4 | (5,328,653) | – |
| ESC written-off | 17.4 | – | 17,571,323 |
| Net cash generated from operating activities | (118,056,959) | 664,103,748 | |
| Cash flows from/(used in) investing activities | |||
| Acquisition of building, property, plant and equipment | 3.1 | (257,770,420) | (61,206,689) |
| Addition of assets under construction | 3.1 | (7,389,371) | (808,713) |
| Proceeds from disposal of property, plant and equipment | 128,241 | 3,170,747 | |
| Investments acquired | (934,581,466) | (497,877,032) | |
| Investments redeemed/disposed | 410,605,691 | 442,594,461 | |
| Net cash from/(used in) investing activities | (789,007,325) | (114,127,226) | |
| Cash flows from financing activities | |||
| Net receipts on school projects | (2,490,537) | (1,286,500) | |
| Net cash from in financing activities | (2,490,537) | (1,286,500) | |
| Increase/(decrease) in cash and cash equivalents | (909,554,821) | 548,690,022 | |
| Cash and cash equivalents at the beginning of the year | 8 | 1,118,829,633 | 570,139,611 |
| Cash and cash equivalents at the end of the year | 8 | 209,274,812 | 1,118,829,633 |
The Accounting Policies and Notes 1 to 20 form an integral part of the Financial Statements.