2011 Annual Report and Accounts - Investing In Africa

Notes to the Financial Statements (continued)
23 Receivables and prepayments (continued)
Movements on the provision for impairment of trade receivables are as follows:
Group
Company
2011 2010 2011 2010
Shs’000 Shs’000 Shs’000 Shs’000
At start of year 50,239 62,193 - -
Provision in the year 30,378 (2,575) - -
Receivables written off during the
year as uncollectible (16,250) (9,379) - -
At end of year 64,367 50,239 - -
In the estimate of the Directors, the carrying amounts of the receivables and prepayments approximate to their
fair value. The carrying amounts of the Group’s receivables and prepayments are denominated in the following
currencies:
Group
Company
2011 2010 2011 2010
Shs’000 Shs’000 Shs’000 Shs’000
US Dollar 483,567 422,969 - -
Euro 2,092 2,361 - -
Sterling Pound 9,977 7,105 - -
Kenya Shillings 1,005,573 506,181 565,301 79,404
Tanzania Shillings 135,018 48,343 - -
1,636,227 986,959 565,301 79,404
24 Cash and cash equivalents
Group
Company
2011 2010 2011 2010
Shs’000 Shs’000 Shs’000 Shs’000
Cash at bank and in hand 257,835 257,595 1,853 183,458
Short term bank deposits 145,279 791,652 - 540,082
403,114 1,049,247 1,853 723,540
The weighted average effective interest rate on short-term bank deposits at the year-end was
19.0 % (2010: 8.2 %). These deposits have an average maturity of 90 days.
For the purposes of the cash flow statement, cash and cash equivalents comprise the following:
Group
2011 2010
Shs’000 Shs’000
Cash and bank balances as above 257,835 257,595
Bank overdrafts (Note 14) (63,070) (58,251)
194,765 199,344
78 TPS EASTERN AFRICA LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS 2011