Jubilee Insurance 2010 Annual Report
Jubilee Insurance 2010 Annual Report
Jubilee Insurance 2010 Annual Report
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18<br />
JUBILEE HOLDINGS<br />
ANNUAL REPORT AND FINANCIAL STATEMENTS<br />
FOR THE YEAR ENDED 31 ST DECEMBER <strong>2010</strong><br />
Consolidated Statement of changes in Equity<br />
Share Capital<br />
Fair Value<br />
Reserves<br />
General<br />
Reserves<br />
Translation<br />
Reserves<br />
Contingency<br />
Reserves<br />
Retained<br />
Earnings<br />
Proposed<br />
Dividends Total<br />
Non-<br />
Controlling<br />
Interest<br />
Kshs ‘000 Kshs ‘000 Kshs ‘000 Kshs ‘000 Kshs ‘000 Kshs ‘000 Kshs ‘000 Kshs ‘000 Kshs ‘000<br />
Year ended 31 December 2009 Note<br />
At the start of the year 225,000 (531,507) 70,000 32,196 186,400 2,742,884 146,250 2,871,222 333,365<br />
Profit for the year - - - - - 824,980 - 824,980 88,691<br />
Other comprehensive income<br />
Transfer to retained earnings on reclassification 13 (a) - 177,212 - - - (177,212) - - -<br />
Change in fair value of financial assets through OCI 13 (a) - (106,873) - - - - - (106,873) (1,958)<br />
Net translation gain 13( c ) - - - (9,239) - - - (9,239) (14,841)<br />
Transfer to contingency reserves 13 (d) - - - - 45,825 (45,825) - - -<br />
Total comprehensive income for the year - 70,339 - (9,239) 45,825 601,943 - 708,868 71,892<br />
Dividends:<br />
Final for 2008 paid 14 - - - - - - (146,250) (146,250) -<br />
Interim for 2009 paid 14 - - - - - (45,000) - (45,000) -<br />
Final for 2009 proposed 14 - - - - - (157,500) 157,500 (0) -<br />
Total transactions with owners: - - - - - (202,500) 11,250 (191,250) -<br />
At end of year 225,000 (461,168) 70,000 22,957 232,225 3,142,327 157,500 3,388,841 405,257<br />
Year ended 31 December <strong>2010</strong><br />
At the start of the year 225,000 (461,168) 70,000 22,957 232,225 3,142,327 157,500 3,388,841 405,257<br />
Profit for the year - - - - - 1,755,761 - 1,755,761 83,363<br />
Other comprehensive income<br />
Transfer to retained earnings on reclassification 13 (a) - 9,715 - - - (9,715) - - -<br />
Change in fair value of financial assets through OCI 13 (a) - 213,838 - - - - - 213,838 7,120<br />
Transfer to retained earnings on disposal 13 (a) - (20,041) - - - 20,041 - - -<br />
Net translation loss 13( c ) - - - (37,899) - - - (37,899) (31,917)<br />
Transfer to contingency reserves 13 (d) - - - - 182,179 (182,179) - - -<br />
Total comprehensive income for the year - 203,512 - (37,899) 182,179 1,583,907 - 1,931,700 58,566<br />
Transactions with owners:<br />
Bonus shares issues 12 22,500 - - - - (22,500) - - -<br />
Dividends:<br />
Final for 2009 paid 14 - - - - - - (157,500) (157,500) -<br />
Interim for <strong>2010</strong> paid 14 - - - - - (49,500) - (49,500) -<br />
Final for <strong>2010</strong> proposed 14 - - - - - (222,750) 222,750 - -<br />
Total transactions with owners: 22,500 - - - - (294,750) 65,250 (207,000) -<br />
At end of year 247,500 (257,656) 70,000 (14,942) 414,404 4,431,484 222,750 5,113,541 463,823<br />
Dividends that remain unclaimed for more than six years are written back to retained earnings in accordance with the Company’s Articles of Association.<br />
The notes on pages 21 to 55 are an integral part of these consolidated financial statements<br />
JUBILEE HOLDINGS
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