CTFA Annual Report 2019

FIGURES IN R NOTES 2019 2018 Cash flows from operations Surplus for the year 1,351,256 1,186,838 Adjustments to reconcile surplus Finance income (556,175) (384,983) Adjustments for finance costs 14 - Decrease in trade receivables (15,229) (86) Increase in other operating receivables 94,591 (253,583) Adjustments for increase in trade accounts payable 14,174 - (Decrease) / increase in other operating payables 2,824 (52,188) Decrease in deferred income 188,867 (32,586) Depreciation and amortisation expense 62,472 40,709 Impairment losses and reversal of impairment losses recognised in surplus or deficit 10,047 - Provisions 54,758 (21,174) Fair value gains and losses (229,695) 196,489 Gains and losses on foreign exchange realised in surplus or deficit (55) 86 Losses on disposal of non-current assets - 14,433 Total adjustments to reconcile surplus (373,407) (492,883) Net cash flows from operations 977,849 693,955 Interest paid (14) - Interest received 551,424 366,168 Net cash flows from operating activities 1,529,259 1,060,123 Cash flows from / (used in) investing activities Proceeds from sales of property, plant and equipment - 6,807 Purchase of property, plant and equipment (8,280) (259,386) Proceeds from sales of investment property - (196,489) Purchase of other financial assets 4,884,997 18,014 Dividends received 4,751 18,815 Cash flows from / (used in) investing activities 4,881,468 (412,239) Cash flows from financing activities Proceeds from other financial liabilities 60,149 - Cash flows from financing activities 60,149 - Net increase in cash and cash equivalents 6,470,876 647,884 Cash and cash equivalents at beginning of the year 3,275,514 2,627,630 Cash and cash equivalents at end of the year 7 9,746,390 3,275,514 STATEMENT OF CASH FLOWS COSMETIC TOILETRY AND FRAGRANCE ASSOCIATION OF SOUTH AFRICA 33