Consolidated statement of cash flows

For the year ended 31 December 2023

Notes

2023

£’000

2022

£’000

Cash flows from operating activities

Purchases of investments

(126,660)

(243,979)

Sales of investments

232,000

212,320

Accrued interest repayments and other income

753

690

Expenses paid

(3,888)

(6,890)

Interest paid

(1,649)

–

Bank and other interest received

2,656

261

Net cash from (used in) operating activities

103,212

(37,598)

Cash flows from financing activities

Purchase of ordinary shares

18

-

(8,933)

Dividends paid

19

(7,939)

(7,988)

Proceeds from borrowings

21

96,541

–

Repayment of borrowings

21

(93,926)

–

Net cash from (used in) financing activities

(5,324)

(16,921)

Net increase (decrease) in cash and cash equivalents

97,888

(54,519)

Cash and cash equivalents at the beginning of the year

109,848

163,178

Effect of foreign exchange rate changes

(581)

1,189

Cash and cash equivalents at the end of the year

10

207,155

109,848

Supplemental disclosure of non-cash operating activities:
Purchases of investments

(211,607)

–

Disposal of investments

6

211,364

–

Notes 1-23 are an integral part of these Consolidated Financial Statements.