Statement of cashflows

Initiative Africa Foundation
KENYA LIMITED, P.O. BOX 1251-01000, THIKA

STATEMENT OF CASHFLOWS FOR THE YEAR END 31ST DECEMBER 2013

Profit before tax

Adjustments For:

TaxExpenses

517,662

Depreciation

286,826

Operating Profit before working capital changes

656,168

Operating activities

Increase/Decrease in payables

Increase/Decrease in receivables

1,218,952
1,033,137

Cash inflow from operating activities

841,983

Investing Activities

Purchase of Assets

Cash outflow from operating activities

(103,380)

FinancingActivities:

Increase (Decrease) in Dircetors AccountsIncrease (Decrease) in Shares

761,544

Cash inflow from operating activities

761,544

Net outflow in cash and cash equivalents

At the start of the year
Movement during the year

1,500,147
885,895
1,500,147

At the end of the year

2,386,042