Annual Reports Keepmoat Homes Annual Report 2018 | Page 46

8 – Disposal of Subsidiary
Notes to the consolidated financial statements
Keepmoat . com 46

8 – Disposal of Subsidiary

On 30 April 2017 , the Group disposed of its Regeneration business . Details of the assets and liabilities disposed of and a calculation of the gain on disposal is set out below :
2018 £’ 000
Consideration received
Cash and cash equivalents
313,124
Inter-company balances written off
29,700
Legal fees associated with the disposal
( 3,132 )
Total consideration received
339,692
Analysis of assets and liabilities over which control was lost Current assets Trade receivables 155,944
Non-current assets
Property plant and equipment
497
Goodwill and other intangible assets
121,703
Trade receivables
6,887
Current liabilities Trade and other payables ( 180,771 ) Provisions for liabilities ( 349 )
Non-current liabilities
Trade and other payables
( 2,929 )
Retirement benefit liability
( 2,011 )
Provisions for liabilities
( 800 )
Total net assets disposed of
98,171
Gain on disposal
241,533
The gain on disposal is included in the profit for the year from discontinued operations ( note 7 ).
Net cash inflow on disposal of a subsidiary
2018
£’ 000 Consideration received in cash and cash equivalents 313,124 Less : cash and cash equivalent balances disposed of -
313,124