EAPCC_Annual_Report_.. - Investing In Africa
EAPCC_Annual_Report_.. - Investing In Africa
EAPCC_Annual_Report_.. - Investing In Africa
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EAST AFRICAN PORTLAND CEMENT COMPANY LIMITED<br />
ANNUAL REPORT AND FINANCIAL STATEMENTS<br />
2010/2011<br />
NOTES TO THE FINANCIAL STATEMENTS (continued)<br />
FOR THE YEAR ENDED 30 JUNE 2011<br />
4. PROPERTY, PLANT AND EQUIPMENT (continued)<br />
If the revalued property, plant and equipment were carried in the financial statements at historical cost,<br />
the balances at year-end would have been as follows:<br />
2011 2010<br />
KShs’000<br />
KShs’000<br />
Cost 10,313,224 10,313,224<br />
Accumulated depreciation (4,993,435) (4,604,534)<br />
Net book value 5,319,789 5,708,690<br />
(c) Finance leases<br />
Additions during the year include motor vehicles of KShs 165,344,807 (2010 – KShs 35 million) under<br />
finance leases. Leased assets are pledged as security for the related finance lease liabilities.<br />
5. CAPITAL WORK-IN-PROGRESS 2011 2010<br />
KShs’000<br />
KShs’000<br />
COST<br />
At the beginning of the year 915,477 475,330<br />
Additions 545,394 440,147<br />
1,460,871 915,477<br />
Transfers to property plant and equipment (note 4) (1,243,418) -<br />
Balance at 30 June 217,453 915,477<br />
Capital work-in-progress relates to amounts incurred on installation of a coal grinding and dosing facility, implementation<br />
of Enterprise Resource Planning (ERP), construction of buildings, installation of network infrastructure and plant and<br />
machinery. The installation of coal grinding and dosing facility was completed during the year and the amount incurred<br />
transferred to plant and machinery in property, plant and equipment.<br />
EAST AFRICAN PORTLAND CEMENT COMPANY LIMITED<br />
ANNUAL REPORT AND FINANCIAL STATEMENTS 2010/2011 57
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