Directors' Report and Financial Statements 31 March ... - Precision Air
Directors' Report and Financial Statements 31 March ... - Precision Air
Directors' Report and Financial Statements 31 March ... - Precision Air
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
PRECISION AIR SERVICES PLC<br />
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)<br />
FOR THE YEAR ENDED <strong>31</strong> MARCH 2012<br />
Gr<strong>and</strong> total Interest Bearing loans <strong>and</strong> borrowings 181,513,675 185,694,712 181,308,774 184,476,961<br />
Non-Current Interest bearing loans <strong>and</strong> borrowings 148,707,735 155,136,749 148,707,735 155,136,748<br />
Current Interest bearing loans <strong>and</strong><br />
borrowings 32,805,940 30,557,963 32,601,039 29,340,213<br />
181,513,675 185,694,712 181,308,774 184,476,961<br />
The movement in secured term loans is as follows:<br />
At the beginning of the year 176,976,208 99,945,646 175,758,457 99,945,646<br />
Additional loans received 7,454,941 86,983,330 7,454,941 84,855,849<br />
Translation loss through cashflow hedging reserve 10,095,867 14,543,635 10,095,867 14,543,635<br />
Repaid in the year (23,179,103) (24,496,403) (22,166,253) (23,586,672)<br />
At the end of the year 171,347,913 176,976,208 171,143,012 175,758,457<br />
As at year end, the overdraft facilities were fully utilised.<br />
As at year end, the following term loan facility was undrawn:<br />
* Kenya Commercial Bank (Hangar loan-USD 5,794,973) 1,903,069 4,757,198 1,903,069 4,757,198<br />
** Stanbic Bank (Short term enhanced loan-US$ 1,300,000) 378,420 209,375 378,420 209,375<br />
** Stanbic Bank (Short term revolving loan -US$ 700,000) 210,977 152,832 210,977 152,832<br />
DIRECTORS’ REPORT AND FINANCIAL STATEMENTS <strong>31</strong> MARCH 2012<br />
55
Change language