Notes to the Consolidated Financial Statements for the year ended 31 December 2022 (continued)
25 Notes to consolidated statement of cash flows
2022 £’000
2021 £’000
(9,085)
(178)
Loss for the year before exceptional items
(969)
Exceptional items
(4,000) (4,178)
Loss for the financial year
(10,054)
Adjustments for: Tax on loss
323
971 997
1,014
Net interest expense
Operating loss
(8,717)
(2,210)
10,633
Amortisation of purchased goodwill Amortisation of intangible fixed assets Depreciation of tangible fixed assets Loss on disposal of tangible fixed assets
10,260
538
603
3,790
2,939
532
218
(256)
Government grants
(256)
36
Equity settled share based payment expense
34
Working capital movements: - (Increase)/decrease in stocks - (Increase)/decrease in debtors - Increase/(decrease) in payables Cash from operating operations
(58)
146
(10,185)
5,841
1,889
(5,151)
(1,798)
12,424
Cash flows in the year £’000
At 1 Jan 2022 £’000
At 31 Dec 2022 £’000
Acquisition £’000
Analysis of changes in net cash:
Cash at bank and in hand
40,770
-
(8,258)
32,512
26 Pension costs The Group operates one defined contribution pension scheme. The assets of the scheme are held separately from the company in an independently administered fund. The pension cost charges represent contributions payable by the Group to the fund and amounted to £2,174,000 (2021: £1,979,000).
There were £186,000 accrued pension contributions at 31 December 2022 (2021: £163,000).
27 Guarantees The Group is subject to a multilateral guarantee by other Group entities. The Group can draw on a fully committed £75m (2021: £75m) facility provided by HSBC which includes a supplier guarantee facility of £29m. An additional £3m supplier guarantee has been provided by another Group company, Whistl Group Holdings Limited. HSBC has a fixed and floating charge over the Group’s assets.
62
Whistl Annual Report 2022
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