EAPCC_Annual_Report_.. - Investing In Africa
EAPCC_Annual_Report_.. - Investing In Africa
EAPCC_Annual_Report_.. - Investing In Africa
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2010/2011<br />
EAST AFRICAN PORTLAND CEMENT COMPANY LIMITED<br />
ANNUAL REPORT AND FINANCIAL STATEMENTS<br />
STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2011<br />
Note 2011 2010<br />
ASSETS KShs’000 KShs’000<br />
NON CURRENT ASSETS<br />
Property, plant and equipment 4 7,657,923 6,645,271<br />
Capital work- in- progress 5 217,453 915,477<br />
<strong>In</strong>tangible assets 6 1,233 1,044<br />
Prepaid operating leases 7 11,681 11,744<br />
<strong>In</strong>vestment properties 8 1,495,000 1,495,000<br />
Loan swap asset 9 916,925 -<br />
Restricted deposits 10 58,586 57,349<br />
10,358,801 9,125,885<br />
CURRENT ASSETS<br />
<strong>In</strong>ventories 11 1,551,254 1,189,533<br />
Trade and other receivables 12 964,503 671,977<br />
Amount due from related party 13 5,703 5,769<br />
Tax recoverable 14 (a) 86,236 92,622<br />
Short term deposits 10 348,143 688,585<br />
Bank balances and cash 15 216,231 263,194<br />
3,172,070 2,911,680<br />
TOTAL ASSETS 13,530,871 12,037,565<br />
EQUITY AND LIABILITIES<br />
CAPITAL AND RESERVES<br />
Share capital 16(a) 450,000 450,000<br />
Share premium 16(b) 648,000 648,000<br />
Asset revaluation reserve 16(c) 1,240,771 1,261,760<br />
Retained earnings 3,923,685 3,341,441<br />
TOTAL EQUITY 6,262,456 5,701,201<br />
NON CURRENT LIABILITIES<br />
Staff gratuity 18 517,528 437,459<br />
Deferred tax liability 19 312,060 999,720<br />
Long - term loan 20 3,279,403 3,040,555<br />
Loan swap liability 9 929,580 -<br />
Obligations under finance leases 21 129,665 21,980<br />
5,168,236 4,499,714<br />
CURRENT LIABILITIES<br />
Current portion of long - term loan 20 407,522 361,632<br />
Obligations under finance leases 21 61,462 13,100<br />
Bank overdraft 22 1,695 -<br />
Trade and other payables 23 1,629,500 1,461,918<br />
2,100,179 1,836,650<br />
TOTAL EQUITY AND LIABILITIES 13,530,871 12,037,565<br />
The financial statements were approved by the Board of Directors on 27 October 2011 and signed on its behalf by:-<br />
Mark Ole Karbolo<br />
} Chairman<br />
Kephar L. Tande<br />
} Managing Director<br />
The Notes set out on pages 36 to 86 form an integral part of these financial statements.<br />
32<br />
EAST AFRICAN PORTLAND CEMENT COMPANY LIMITED<br />
ANNUAL REPORT AND FINANCIAL STATEMENTS 2010/2011
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