Egyptian Resorts Company “Egyptian Joint Stock ... - ERC Egypt

- 18 - Translated & OriginallyIssued in Arabic13- Sundry Creditors & Other Credit BalancesThe balance shown in the Consolidated balance sheet as at March 31, 2011 isrepresented in the following:31/3/2011 31/12/2010L.E L.ESundry creditors 18 956 109 23 208 603Contractors’ retention 3 758 192 3 923 441Suppliers and contractors 437 916 447 409Contractors-social insurance 2 153 886 2 135 259Accrued expenses 1 216 974 300 519Due to governmental authorities 9 297 178 8 194 437Maintenance deposits 1 919 497 1 118 063Deposits from others (shops) 125 750 125 750Dividends payable 393 499 393 499Unearned revenues-management resort 1 817 530 --Deferred revenues(*) 13 243 856 481 48953 320 387 40 328 469(*) Deferred revenue includes an amount of L.E 12 822 940 which represent 80% ofthe value sales contracts of units in sawary project, which will be recognized whenimplementing building structures and finishing works for the units based on contractsconcluded with clients.14- Due to the General Authority for Touristic DevelopmentThis item shown in the Consolidated balance sheet as at March 31, 2011 isrepresented as follows:14-1 Dues to the authority – due within one yearAccrued rent due to the authority for thethird phaseDues to the authority for the sale of theproject’s land31/3/2011 31/12/2010L.E.L.E.968 472 942 42914 035 561 22 828 82515 004 033 23 771 25414-2 Dues to the authority – Long TermThe classifications of the short and long term dues to the authority is according tothe customers’ payments of the installments of the lands sold, thus the amountsdue to the authority (long term) shown in the consolidated balance sheet as atMarch 31, 2011 are as follows:Due to General Authority for TouristicDevelopment – Long Term31/3/2011 31/12/2010L.E.L.E.588 044 1 098 109