The following information has been extracted from the accounts of Anwar Logistics for the financial year ended 31 December Year 4:

1. Changes in Non-Current Assets
Vehicles Equipment Property
Acquisitions & Dispositions: 0 0 0 0
Sales -150 80 130 Purchases 400 220 560
Depreciation provisions
On Sales – 45 – 85 Written off to Income Statement – 80 – 120
Revaluation of Assets Value Growth 145
2. Non-Current Asset Sales Receipts
Property Value £000 Equipment 20 Vehicles 35
3. The following was revealed after a review of the Statement of Financial Position for the previous two years:
December 31 of Year 3 and Year 4

Debentures were issued on July 1st of year four. Year 4 Current Assets and Liabilities Tax and Debentures £000 £000 Corporation Tax Owing 49 41 Debenture Interest Due 16 8 5% Debentures* 180 220 * Note Inventory 55 43 Trade Receivables 24 31 Trade Payables 27 18 Total: £000 £000

4. Anwar Logistics experienced the following share issue in Year 4:
200,000 Ordinary Shares Have Been Issued.
Shares have a 50p par value and an 80p issue price.
5. For the fiscal year that concluded on December 31, Year 4, the Income Statement and Statement of Retained Earnings revealed the following:
Debenture Interest of £000?
Corporation Tax 45 Ordinary Dividends Paid 90 Opening Retained Earnings 200 Closing Retained Earnings 515
(a) Create, in accordance with IAS 7, a Statement of Cash Flows for Anwar Logistics for the fiscal year that ended on December 31, Year 4, using the Worksheet offered and the information above.
(a) Describe two situations in which a business entity is exempt from producing a Statement of Cash Flows.