Statement of cash flows

Note

2015

2014

Operating activities

Rental receipts

38,533

38,134

Service charge receipts

1,809

1,761

Operating payments

(12,909)

(10,582)

Service charge payments

(1,668)

(1,702)

VAT received (paid)

2,995

(2,837)

Interest received

1

5

Cash flows from operating activities

28,761

24,779

Investment activities

Proceeds from sales of investment property

13,520

-

Payments of investment property

(8,475)

(45,199)

Payments of investment property under construction

(61,045)

(22,214)

Net cash inflow on disposal of participation

-

525

Cash flows from investment activities

(56,000)

(66,888)

Finance activities

Proceeds from the issue of share capital

65,000

81,000

Dividends paid

(29,137)

(27,647)

Cash flows from finance activities

35,863

53,353

Net increase in cash and cash equivalents

8,624

11,244

Cash and cash equivalents at beginning of year

19,002

7,758

Cash and cash equivalents at end of year

15

27,626

19,002