Download TPS, East Africa 2008 Annual Report - Serena Hotels

Consolidated Balance Sheet
For the period ended 31 December 2008
Notes 2008 2007
Shs'000 Shs'000
Equity
Share capital 12 105,865 105,865
Share premium 12 1,906,676 1,906,676
Revaluation reserve 13 678,816 698,001
Translation reserve (171,905) (146,315)
Retained earnings 1,099,142 981,853
Proposed dividends 11 132,331 132,331
Total equity 3,750,925 3,678,411
Non-current liabilities
Borrowings 14 1,052,754 1,079,358
Deferred income tax liability 15 590,947 573,590
Provisions for liabilities and charges 16 95,013 121,701
Total non-current liabilities 1,738,714 1,774,649
Total equity and non-current liabilities 5,489,639 5,453,060
Non-current assets
Property, plant and equipment 18 4,015,288 4,103,430
Prepaid operating lease rentals 19 12,573 12,733
Intangible assets 20 1,077,869 1,077,869
Investment in associates 22 29,917 30,314
Available-for-sale financial asset 17 55,051 31,418
Deferred income tax asset 15 66,378 128,549
5,257,076 5,384,313
Current assets
Inventories 243,533 203,329
Receivables and prepayments 23 874,121 1,032,379
Cash and cash equivalents 24 132,266 160,998
1,249,920 1,396,706
Current liabilities
Payables and accrued expenses 25 779,684 891,670
Current income tax 953 42,396
Borrowings 14 236,720 393,893
1,017,357 1,327,959
Net current assets 232,563 68,747
5,489,639 5,453,060
The financial statements on pages 25 to 59 were approved for issue by the board of directors on 30th March 2009 and signed
on its behalf by:
Francis Okomo-Okello Mahmud Jan Mohamed
Chairman Managing Director
30 March, 2009 30 March, 2009
26 TPS EASTERN AFRICA LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2008