- Negril Development Limited Ndl Is A Publicly Listed Company The Following Financial Statements Of The Company Are Avai 1 (292.4 KiB) Viewed 16 times
- Negril Development Limited Ndl Is A Publicly Listed Company The Following Financial Statements Of The Company Are Avai 2 (271.68 KiB) Viewed 16 times
- Negril Development Limited Ndl Is A Publicly Listed Company The Following Financial Statements Of The Company Are Avai 3 (421.02 KiB) Viewed 16 times
31 March 2017 Statement of Financial Position as 31 March 2018 at: $ 000 $ 000 $ 000 S 000 Assets Non-current assets (note 1) Property, Plant and Equipment Investment Property 2880 420 3300 1860 400 2260 810 Current assets Inventory Trade receivables Income tax asset Bank 1210 480 0 540 50 10 0 1700 5000 1400 3660 1000 600 Equity and liabilities Equity shares of $0.20 each Share premium Revaluation reserve Retain earnings 600 150 1440 50 1310 2190 3190 1360 1960 Non-current liabilities 6% loan notes (note i) Deferred tax 0 400 SO 30. 430 1410 1050 Current Liabilities Trade payables Bank overdraft Warranty provision(note iv) Current tax payable 0 200 100 150 0 1270 5000 3660
e following supporting information is available: (1) An item of plant with a carrying amount of $240,000 was sold at a loss of $90,000 during the year. Depreciation of $280,000 was charged (to cost of sales) for property, plant and equipment in the year ended 31 March 2018. NDL uses the fair value model in IAS 40 Investment Property. There were no purchases or sales of investment property during the year. (ii) The 6% loan notes were redeemed early incurring a penalty payment of $20,000 which has been charged as an administrative expense in the income statement. (iii) There was an issue of shares for cash on 1 October 2018. There were no bonus issues of shares during the year. (iv) NDL gives a 12-month warranty on some of the products it sells. The amounts shown in current liabilities as warranty provision are an accurate assessment, based on past experience, of the amount of claims likely to be made in respect of warranties outstanding at each year end. Warranty costs are included in cost of sales. (v) A dividend of 3 cents per share was paid on 1 January 2018 Required: (a) Prepare a statement of cash flows for Negril Development Limited(NDL) for the year to 31 March 2018 in accordance with IAS 7 Statement of cash flows. (16 marks) (b) Comment on the cash flow management of NDL as revealed by the statement of cash flows and the information provided by the above financial statements. Note: ratio analysis is not required, and will not be awarded any marks (10 marks)