CTFA Annual Report 2021

FIGURES IN R NOTES 2021 2020 Cash flows from operations Surplus for the year 1,044,029 1,212,810 Adjustments to reconcile surplus Finance income (416,399) (461,374) Adjustments for (Increase) / decrease in trade receivables 2,383 (33,474) Adjustments for (Increase) / decrease in other operating receivables (17,562) (22,856) Adjustments for Increase / (decrease) in trade accounts payables (3,724) (8,348)) Adjustments for Increase / (decrease) in other operating payables 21,859 (17,186) Adjustments for Increase / (decrease) in deferred income (222,708) 70,827 Depreciation expense 78,719 77,471 Impairment losses and reversal of impairment losses recognised in surplus or deficit - 33,246 Movement in provisions 79,731 56,690 Profit on disposal of non-current assets (96) - Total adjustments to reconcile surplus (477,797) (305,004) Net cash flows from operations 566,232 907,806 Interest received 416,399 461,375 Net cash flows from operating activities 982,631 1,369,181 Cash flows used in investing activities Proceeds from sales of property, plant and equipment 13,904 - Purchase of property, plant and equipment (50,447) (63,550) Cash flows from / (used in) investing activities (36,543) (63,550) Cash flows from financing activities Movement in other financial liabilities (3,246) 40,535 Cash flows from financing activities (3,246) 40,535 Net increase in cash and cash equivalents 942,842 1,346,165 Cash and cash equivalents at beginning of the year 11,092,555 9,746,390 Cash and cash equivalents at end of the year 6 12,035,397 11,092,555 STATEMENT OF CASH FLOWS COSMETIC TOILETRY AND FRAGRANCE ASSOCIATION OF SOUTH AFRICA 28