Financial statements

Consolidated statement
of cash flows

For the year ended 31 December	Notes	2024 AED	2023 AED
Operating activities
Profit for the year before tax		491,681,389	586,407,899
Adjustments for:
Depreciation on property and equipment	5	1,730,007	3,271,862
Depreciation on right of use asset	7	2,542,969	211,364
Amortisation of intangible assets	6	31,499,278	30,732,894
Income from financial assets carried at fair value through profit or loss	16	–	(122,795,687)
Interest expense on lease liability	7	382,143	38,055
Provision for employees’ end of service benefits	12	4,871,160	4,286,824
Gain on disposal of property and equipment		–	(6,538)
Interest income		(12,725,625)	(8,698,380)
		519,981,321	493,448,293
Working capital changes:
Amounts due from related parties		353,154	(289,966)
Trade and other receivables		(178,379,108)	(19,505,309)
Trade and other payables		(5,197,336)	6,444,006
Cash generated from operating activities		336,758,031	480,097,024
Employees’ end of service benefits paid	12	(1,985,848)	(2,582,414)
Net cash flows from operating activities		334,772,183	477,514,610
Investing activities
Purchase of property and equipment	5	(1,998,949)	(1,162,776)
Purchase of financial assets carried at fair value through profit or loss		–	(61,464,112)
Proceeds from disposal of financial assets carried at fair value through profit or loss		–	418,270,957
Dividend income from financial assets at fair value through profit or loss		–	20,414,682
Receipt of amounts due from related parties		109,402,334	280,856,346
Proceeds from disposal of property and equipment		–	6,538
Interest income received		12,927,921	5,386,924
Purchase of intangible assets	6	(114,290,814)	(31,739,268)
Net cash flows from investing activities		6,040,492	630,569,291
Financing activities
Repayment of lease liability	7	(2,699,232)	(258,931)
Dividends paid	24	(203,588,000)	(1,017,489,192)
Net cash flows used in financing activities		(206,287,232)	(1,017,748,123)
Net increase in cash and cash equivalents		134,525,443	90,335,778
Cash and cash equivalents at the beginning of the year		261,773,715	171,437,937
Cash and cash equivalents at the end of the year	9	396,299,158	261,773,715
Significant non-cash transactions
Issuance of share capital	10	70,000,000	–
Addition to intangible assets		9,239,236	4,106,432
Dividend paid through a related party	24	–	614,606,186

The attached notes 1 to 24 form part of these consolidated financial statements.

My Report

Financial statements

Financial statements

Consolidated statement of cash flows

Consolidated statement
of cash flows