Accra Brewery Limited Annual Report 2009 - SABMiller

34
Notes
Accra Brewery Limited
Financial Statements
for the year ended 31 March 2009
NOTES (continued)
(IN THE NOTES ALL AMOUNTS ARE SHOWN IN THOUSANDS OF GHANA CEDIS UNLESS OTHERWISE STATED)
24. Financial instruments and treasury risk management (continued)
Fair value 2009 Fair value 2008 Carrying amount Carrying amount
2009 2008
Financial assets
Trade and other receivables 6,823 5,656 6,823 5,656
Bank and cash 90 - 90 -
======= ======= ======= =======
Financial liabilities
Trade and other payables 15,789 4,628 15,789 4,628
Amounts due to related companies 21,888 5,757 21,888 5,757
Overdrafts 8,291 4,103 8,291 4,103
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Cash and cash equivalents, overdrafts and payables have fair values that approximate to their carrying amounts because of their short-term
nature.
Maturity analysis of financial liabilities
The table below analyses the financial liabilities into the relevant maturity grouping based on the remaining period at the balance sheet to the
contractual maturity date.
Less than 1 year 2009 2008
Trade and other payables 15,789 4,628
Amounts due to related companies 21,888 5,757
Overdrafts 8,291 4,103
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45,968 14,488
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Sensitivity Analysis
The company has used sensitivity analysis technique to measure the estimated impact to income statement from an instantaneous increase or
decrease of 2% in market interest rate and a 10% strengthening or weakening in Ghana cedi against major trading currencies.
The fair value of debt is affected by movements in interest rates. A hypothetical 2% increase in interest rates will result in a reduction of
Gh¢165,820 in profit before tax.
The values of trade and other payables denominated in foreign currency are subject to exchange rate movements. A hypothetical 10% upward
change in foreign exchange rate will result in reduction of Gh¢2.22679m in profit before tax.
ACCRA BREWERY LIMITED / ANNUAL REPORT 2009