Annual Report and Audited Financial Statements 2011 - The Kenya ...

Notes to the Financial Statements
for the year ended 31 Dec 2011 - Continued
NOTES: (CONTINUED)
11. Trade and other receivables (continued)
Individually impaired receivables mainly relate to customers, who are in unexpectedly difficult economic
situations. These have been fully provided for as stated above.
The other classes within trade and other receivables do not contain impaired assets.
The maximum exposure to credit risk at the reporting date is the fair value of each class of receivable mentioned
above. The institute does not hold any collateral as security.
12. Cash and cash equivalents
2011 2010
Shs
Shs
Cash at bank and in hand 11,478,794 48,788,734
For the purposes of cash flow statement,
cash and cash equivalents comprise the following:
Cash and bank balances 11,478,794 48,788,734
Bank overdraft (Note 15) (63,294,674) (60,716,589)
(51,815,880) (11,927,855)
The carrying amounts of the institute's cash and cash equivalents are all denominated in Kenya Shilling.
The institute's cash and bank balances are held with a major Kenyan financial institution and, insofar as the
directors are able to measure any credit risk to these assets, it is deemed to be limited.
13 Trade and other payables
2011 2010
Shs
Shs
Trade payables 51,496,797 28,997,281
Other payables and accruals 76,095,528 55,143,207
127,592,325 84,140,488
In the opinion of the council the carrying amount of trade and other payables approximate to their fair value.
The carrying amounts of the institute's trade and other payables are all denominated in Kenya Shilling.
The maturity analysis of the institute's trade and other payables is as follows:
Year ended 31 December 2011
1 to 3 month 4 to 12 months Total
Shs Shs Shs
Trade payables - 51,496,797 51,496,797
Other payables and accruals 76,095,528 - 76,095,528
76,095,528 51,496,797 127,592,325
Annual Report and Audited Financial Statements 2011 41