26 • <strong>FSD</strong> KENYA <strong>2009</strong> ANNUAL REPORT BALANCE SHEET AS AT 31 ST DECEMBER <strong>2009</strong> <strong>2009</strong> 2008 ASSETS Non-current assets Property and equipment 2,777,308 2,230,000 Intangible asset work in progress 2,057,878 1,088,193 Loan advance 153,600,000 153,600,000 Total non-current assets 158,435,186 156,918,193 Current assets Grants receivable Receivables 545,164 874,371 Contract advances 1,288,314 4,198,736 Bank and cash balances 356,203,448 365,829,000 Total current assets 358,036,926 370,902,107 Total assets 516,472,112 527,820,300 RESERvES AND LIABILITIES Reserves: Accumulated fund 234,510,231 151,725,623 Non-current liabilities Deferred income 410,000 820,000 Current liabilities Unexpended projects fund 192,403,990 260,056,034 Deferred income 410,000 410,000 Accruals 40,802,354 70,395,678 Tax liability 47,935,537 44,412,965 Total current liabilities 281,551,881 375,274,677 Total reserves and liabilities 516,472,112 527,820,300
Towards a new financial frontier <strong>FSD</strong> <strong>Kenya</strong> Financial Sector Deepening