EAPCC_Annual_Report_.. - Investing In Africa
EAPCC_Annual_Report_.. - Investing In Africa
EAPCC_Annual_Report_.. - Investing In Africa
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
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 />
28. FARM NET LOSS 2011 2010<br />
KShs’000 KShs’000<br />
Farm gross income - 39<br />
Farm expenditure:<br />
Farm salaries and wages - (6,909)<br />
Farm general expenses - (722)<br />
Farm depreciation - (164)<br />
Impairment of equipment - (1,145)<br />
Veterinary expenses and animal feeds - (131)<br />
Farm petrol and diesel - (265)<br />
Farm maintenance and repairs - (24)<br />
Total farm expenditure - (9,360)<br />
Net loss - (9,321)<br />
The company discontinued farming activities in 2010.<br />
29. SELLING AND DISTRIBUTION EXPENSES<br />
Cement transport 341,985 320,106<br />
Advertising and sales commissions 126,459 162,207<br />
Fuel and repairs 25,565 21,802<br />
Customs and other export levies 93,253 55,481<br />
Depot rent 15,618 12,421<br />
Public relations costs 4,947 2,140<br />
Credit losses expense 71,902 12,651<br />
679,729 586,808<br />
30. ADMINISTRATION AND ESTABLISHMENT EXPENSES<br />
Staff costs 731,171 885,456<br />
Depreciation 86,149 42,775<br />
Amortisation of intangible assets 1,369 1,778<br />
Amortisation of prepaid operating leases 290 210<br />
Office supplies 41,148 33,722<br />
Travelling expenses 48,748 77,484<br />
Hired services 20,848 28,319<br />
Telephone and postage 13,984 17,154<br />
Company functions 13,684 32,272<br />
Board expenses 17,515 13,377<br />
Printing and stationery 7,338 9,432<br />
Motor vehicle expenses 7,610 7,952<br />
Computer expenses 28,433 17,482<br />
Electricity 9,108 10,733<br />
Office general expenses 23,450 16,359<br />
1,050,845 1,194,505<br />
EAST AFRICAN PORTLAND CEMENT COMPANY LIMITED<br />
ANNUAL REPORT AND FINANCIAL STATEMENTS 2010/2011 69