Notes to summarised consolidated statement of cash flows
for the year ended 28 February 2021
| US$’000 | Audited 2021 |
Audited Restated# 2020 |
|
| Cash and cash equivalents at the end of the year | |||
| Cash resources | 488 632 | 347 189 | |
| Bank overdrafts unconditionally repayable on demand | (9 860) | (14 885) | |
| Cash and cash equivalents (per the statement of cash flows) | 478 772 | 332 304 | |
| Bank overdrafts repayable on demand under certain conditions | (121 557) | (248 915) | |
| Net cash resources | 357 215 | 83 389 |
| # | The Group restated its statement for cash flows for FY20 to exclude certain bank over drafts from cash and cash equivalents. Bank overdrafts that are repayable on demand under certain circumstances, but not unconditionally repayable on demand have now been excluded from cash and cash equivalents and cash flows associated with these bank overdrafts are now shown as cash flows from financing activities. The restatement relates to banking arrangements that form an integral part of the Group’s cash management. |
The table below illustrates the effect of the restatement on the statement of cash flows for FY20 as follows:
| US$’000 | Before restatement |
After restatement# |
Total restatement |
||
| Statement of cash flows (extract) FY20 | |||||
| Net cash inflow from operating activities | 147 656 | 147 656 | – | ||
| Net cash flow from investing activities | (30 966) | (30 966) | – | ||
| Net cash outflow from financing activities | (76 781) | (108 854) | (32 073) | ||
| Overdrafts repayable on demand under certain conditions | – | (32 073) | (32 073) | ||
| Other financing activities | (76 781) | (76 781) | – | ||
| Net increase/(decrease) in cash and cash equivalents | 39 909 | 7 836 | (32 073) | ||
| Cash and cash equivalents at the beginning of the year | 40 381 | 333 738 | 293 357 | ||
| Translation differences on cash and cash equivalents | 3 099 | (9 270) | (12 369) | ||
| Cash and cash equivalents at the end of the year | 83 389 | 332 304 | 248 915 | ||
