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YEAR IN REVIEW 2015 WORLD RUGBY 10320142013Notes Stg£ Stg£ASSETSNon-current assetsProperty, plant and equipment121,089,212 123,361Intangible assets1377,002 77,002Deferred expenditure147,132,170 3,040,134Available for sale financial assets1596,741,775 94,237,993105,040,15997,478,490Current assetsTrade and other receivables1621,792,200 6,435,170Cash and cash equivalents1723,042,114 37,972,299Restricted cash18781,067 -45,615,38144,407,469Total assets 150,655,540141,885,959EQUITYCapital and reserves Retained earnings2111,508,561 77,287,502LIABILITIESNon-current liabilitiesDeferred revenue19- 56,182,328Current liabilitiesTrade and other payables2012,533,258 8,416,129Deferred revenue19126,613,721-Total liabilities139,146,97964,598,457Total equity and liabilities 150,655,540141,885,95920142013Notes Stg£ Stg£Cash flows from operating activitiesCash generated from operations2219,543,6879,031,388Income tax paid(45,855)(37,329)Grant payments(34,795,383)(17,454,866)Net cash used in operating activities(15,297,551)(8,460,807)Cash flows from investing activitiesPurchases of property, plant and equipment(1,121,673)(67,795)Purchase of available for sale financial assets(25,312,836)(39,187,320)Proceeds on disposal of available for sale financial assets26,065,73934,991,660Interest received1,741,9832,074,439Net cash (utilised by)/generated from investing activities1,373,213(2,189,016)Cash flows from financing activitiesIncrease in restricted cash(781,067) Decrease in deposits- 5,323,233Net cash generated from financing activities(781,067) 5,323,233Net increase in cash and cash equivalents (14,705,405)(5,326,590)Exchange loss on cash and cash equivalents(224,780) (295,610)Cash and cash equivalents at beginning of the year37,972,29943,594,499Cash and cash equivalents at end of the year23,042,11437,972,299CONSOLIDATED CASH FLOW STATEMENTYear Ended 31 December, 2014CONSOLIDATED BALANCE SHEETAs at 31 December, 2014FINANCIAL STATEMENTS | FINANCIAL REPORT