Page 52 - QFCRA Annual Report 2014

tement of
Cash Flows

FOR THE YEAR ENDED 31 DECEMBER 2014

Note 2014 In USD’000
(37,001) 2013
Cash flows from operating activities
(31,479)
Excess of expenses over income for the year

Adjustments for: 5 243 234
6 219 181
Amortisation of intangible assets 7.1
Depreciation of furniture and equipment 83 12
Impairment of doubtful debts 3 (4)
Loss / (gain) on sale of furniture and equipment (610)
Interest on deposits (385) (31,666)
Operating loss before working capital changes (36,838)
84
Changes in working capital (43) (256)
542 (31,838)
Accounts receivable and prepayments (36,338)
Accounts payable and accruals 417 846
(35,921) (30,992)
Interest received on deposits
Net cash used in operating activities (1,015) (755)
(121) (456)
Cash flows from investing activities 5 -
6 6
Acquisition of intangible assets (1,137) (1,205)
Acquisition of furniture and equipment
Proceeds from sale of furniture and equipment 24,366 34,778
Net cash used in investing activities 11 (474)

Cash flows from financing activities 2 24,377 34,304

Appropriations from the Government (12,681) 2,107
38,274 36,167
Appropriations from the Government received in advance 25,593 38,274
Net cash generated from financing activities

Increase in cash and cash equivalents 8
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year

The accompanying notes 1 to 15 form an integral part of these financial statements.

52 ANNUAL REPORT 2014