Page 73 - DWF Annual Report 2017

Notes to the Financial Statements

Year ended 30 April 2017 (continued)

17. FINANCIAL COMMITMENTS
Total future minimum lease payments under non-cancellable operating leases are as follows:

2017 2016
Land and 2017 Land and 2016
buildings Other buildings Other
£’000 £’000 £’000 £’000
Group
Leases which expire:
Within one year 10,636 543 10,834 1,015
In the second to fifth years inclusive 40,927 - 34,576 -
After five years 28,665 - 36,721 -

80,228 543 82,131 1,015

18. NET CASH INFLOW FROM OPERATING ACTIVITIES

Reconciliation of operating profit to cash generated by operations: 2017 2016
£’000 £’000
Operating profit 43,555 45,576
Depreciation 5,713 6,054
Amortisation of goodwill and other intangibles 440 266
Negative goodwill recognised (882) -
Operating cash flow before movement in working capital 48,826 51,896

(Increase)/decrease in debtors (10,137) 445
Increase in creditors and liabilities 1,476 446
Cash generated by operation 40,165 52,787
Corporation tax paid (520) (935)
Net cash flow from operating activities 39,645 51,852

During the year the Group entered into no finance lease arrangements (2016: £1,057,000).

19. CONTROLLING PARTY AND RELATED PARTY TRANSACTIONS

In the opinion of the Members there is no controlling party as defined by FRS 102 Section 33.

DWF LLP has relied upon the exemption given in FRS 102 section 33 not disclose transactions between itself and its 100% subsidiary
undertakings or other entities wholly included within the consolidation.
The Group considers Strategic Board Members as the key management personnel. The total remuneration for key management personnel
for the year total £3,500,000 (2016: £3,438,000).

73