Download the National Breweries Zambia 2009 Annual ... - SABMiller

Financial Statements
for the year ended 31st March 2009 (cont.)
20 Bank overdraft
The company has an overdraft facility up to a limit of K 8 billion. The facility is renewable quarterly and is subject
to review on 30 June 2009. The bank facility is unsecured.
The carrying amount of the bank overdraft approximates to the fair value.
21 Contingent liabilities
(i) Guarantees
At 31 March 2009 the Company had given excise bond guarantees amounting to K 4,500 million (2008:
K 4,500 million) to the Zambia Revenue Authority. The directors do not that any anticipate that any
significant loss will arise from these contingent liabilities.
(ii) Legal proceedings
The Company is the subject of a number of legal claims relating primarily to employment issues. In the director’s
opinion, after taking appropriate legal advice, the outcome of these claims will not give raise to any significant
loss.
22 Commitments
Capital commitments
Capital expenditure contracted for at the balance sheet date but not recognised in the financial statements is as
follows:
2009 2008
Property, plant and equipment 2 378 1 684
Operating lease commitments
2009 2008
Not later than 1 year 1 095 900
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