2012 TPSEA Annual Report - Serena Hotels

Notes to the Financial Statements (continued)
22 Investment in associates (continued)
The key financial data as at year end of Mountain Lodges Limited (the associate whose principal business is to provide
lodge facilities for tourists and incorporated in Kenya), Tourism Promotion Services (Rwanda) Limited incorporated
in Rwanda and TPS (D) Limited incorporated in Kenya is as follows:
% interest Assets Liabilities Revenues Profit
held Shs’000 Shs’000 Shs’000 Shs’000
2011
Mountain Lodges Limited 29.90 161,483 48,864 100,494 14,231
Tourism Promotion Services
(Rwanda) Limited 1 20.15 2,412,448 982,093 1,270,957 16,766
TPS (D) Limited 2 20.00 2,175,781 1,933,304 194,948 66,830
4,749,712 2,964,262 1,566,399 97,828
2010
Mountain Lodges Limited 29.90 146,067 43,000 80,072 3,639
Tourism Promotion Services
(Rwanda) Limited - - - - -
TPS (D) Limited - - - - -
146,067 43,000 80,072 3,639
1
Only 6 month results of Tourism Promotion Services (Rwanda) Limited from July to December 2011 have been
included in the Group income statement.
2
Only 2 month results of TPS (D) Limited for November and December 2011 have been included in the Group
income statement.
23 Receivables and prepayments Group Company
2011 2010 2011 2010
Shs’000 Shs’000 Shs’000 Shs’000
Trade receivables – third parties 908,639 792,641 - -
Less: provision for impairment of receivables (64,367) (50,239) - -
Trade receivables – other related companies (Note 28) 1,981 1,682 - -
Net trade receivables 846,253 744,084 - -
Prepayments 115,181 38,556 - -
Advances to related companies (Note 28) 177,576 99,001 174,838 72,403
Other receivables 497,217 105,318 390,463 7,001
1,636,227 986,959 565,301 79,404
TPS EASTERN AFRICA LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS 2011 77