116
| 2026 | 2025 | |
| Notes | £000 | £000 |
| Cash flows from operating activities | ||
| Net expenditure after interest | (300,391) | (242,826) |
| Adjustments for: | ||
| Depreciation and assets written off | 2,615 | 3,168 |
| Increase in investment provision and write-off | 9,948 | 2,982 |
| Property revaluation (gain) / deficit | (3,650) | (1,289) |
| Intangible assets revaluation deficit | 138 | - |
| Investment revaluation deficit | 108,030 | 40,190 |
| Interest receivable | 2 | (13,472) |
| Interest on lease liabilities | 20 | 81 |
| Interest on lease receivables | 13 | (5) |
| Dividends receivable | 2 | (92) |
| Retirement benefit scheme net charges | (36) | 5,592 |
| Surplus on disposal of property, plant and equipment | 2 | (1,190) |
| Surplus on disposal of investments and equity accounted investees | 2 | (3,256) |
| (201,280) | (205,749) | |
| Decrease in trade and other receivables | (184) | 5,960 |
| Decrease in lease receivables | 156 | 156 |
| Decrease in trade payables | (6,320) | (8,480) |
| (Decrease) / Increase in provision for future liabilities | (2,044) | (68) |
| Decrease in lease liabilities | (1,409) | (1,396) |
| (211,081) | (209,577) | |
| Income tax expense | (1,411) | (1,179) |
| Net cash outflow from operating activities | (212,492) | (210,756) |
| Cash flows from investing activities | ||
| Proceeds of disposal of property, plant and equipment | 2,538 | 1,629 |
| Proceeds of disposal of financial assets and equity accounted investees | 15,946 | 19,035 |
| Repayment of other investments | 9,258 | 11,039 |
| Interest received | 6,122 | 7,111 |
| Dividends received | 92 | 421 |
| Purchase of property, plant and equipment | (128) | (1,636) |
| Purchase of financial assets | (51,301) | (43,146) |
| Net cash outflow from investing activities | (17,473) | (5,547) |