2 Discontinued Operations


In the prior year comparatives on 27 February 2013 the Group sold its Free From business for a total undiscounted value £21,257,000 and a pre-tax gain of £1,184,000 was recorded.


Te Free From business consisted of two subsidiaries, Livwell Limited (“Livwell”) and United Bakeries (Holdings) Limited (“UBH”) (the holding company of United Central Bakeries Limited (“UCB”)).


2013 £000


Results of the discontinued operation Revenue Expenses


Profit before tax


Gain recognised on disposal Profit before tax Tax on profit*


Profit for the year


Cash flows from (used in) discontinued operations Net cash from operating activities Net cash used in investing activities Net cash from financing activities


Net cash from (used in) discontinued operations


Effect of the disposals on individual assets and liabilities Intangibles


Property, plant and equipment Inventories


Trade receivables Other receivables Trade payables Other payables


Net identifiable assets and liabilities


Consideration: Cash consideration


Settlement of inter-company debt Disposal costs


Cash and cash equivalents at completion date Cashflow on disposal of operation Deferred consideration (discounted) Net consideration Profit on disposal


* Tax on profit relates to tax on discontinued operations. 19,749


(17,676) 2,073 1,184 3,257


(223) 3,034 884 (141)


(1,089) (346)


(8,431) (8,648) (984)


(4,345) (538)


4,378 (17) (18,585) 18,257


(401) (583) (201)


17,072 2,697


19,769 1,184


33


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