Page 83 - 86395_CCB - 2024 Annual Report (web)

83

Statement of Cash Flows
For year ended 31 December 2024

£’000 Note 2024 2023

Cash flows from operating activities
Profit after tax 27,663 31,290

Adjustments for:

Subordinated debt liability interest and fee accrual 196 147
Depreciation and amortisation 1,077 944

(Decrease)/Increase in allowance for Impairment losses (1,654) 5,849

Taxation charge 8,157 9,620
Other non‑cash items 243 (112)

35,682 47,738
Net increase in other assets/liabilities

Net (increase) in loans and advances to customers 15 (119,661) (51,418)
Net increase in customers’ accounts 22 116,329 51,968

Net (decrease) in central bank facilities 23 (10,000) (13,000)

Net (increase) in derivatives 21 (475) (358)
Net increase in other liabilities and provisions 25, 26 399 520

Net decrease in other assets and prepayments 20 1,083 46

Income tax paid (9,815) (9,154)
(21,140) (21,396)

Net cash generated from operating activities 13,542 26,342
Cash flows from investing activities

Proceeds from debt securities sales/maturity 17 6,609 20,000

Acquisition of debt securities 17 (24,437) (35,774)
Acquisition of property, plant & equipment and intangible assets 18,19 (1,159) (700)

Net cash used in investing activities (18,987) (16,474)
Cash flows from financing activities

Issue of subordinated debt liability 24 – 4,604

Convertible loan note interest paid 27 (2,459) (2,191)
Net cash (used in)/generated from investing activities (2,459) 2,413

Net (decrease)/increase in cash and cash equivalents 13 (7,904) 12,282
Cash and cash equivalents at 1 January 13 312,893 300,611

Cash and cash equivalents at 31 December 304,989 312,893

Cash and cash equivalents comprise of:
• Cash and balances at central banks (including any accrued interest).
• Loans and advances to banks (including any accrued interest) all of which have a maturity of less than 3 months.