notes to the financial statements for the year ... - Investing In Africa
notes to the financial statements for the year ... - Investing In Africa
notes to the financial statements for the year ... - Investing In Africa
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NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30 JUNE 2009 (continued)13. TAXES(a) Tax recoverable2009 2008KShs’000KShs’000At beginning of <strong>year</strong> 101,591 (194,543)Charge <strong>for</strong> <strong>the</strong> <strong>year</strong> (note 13(b)) (2,418) (304,487)Over-provision in <strong>the</strong> previous <strong>year</strong> (29,143) -Paid in <strong>the</strong> <strong>year</strong> 9,675 600,621At end of <strong>year</strong> 79,705 101,591(b) <strong>In</strong>come tax expenseCurrent tax based on <strong>the</strong> adjusted profi t<strong>for</strong> <strong>the</strong> <strong>year</strong> at 30% 2,418 304,809Prior <strong>year</strong> over provision - (322)Total current tax charge (note 13(a)) 2,418 304,487Deferred tax charge (note 18) 45,206 (125,250)47,624 179,237(c ) Reconciliation of expected tax based on accounting profi t <strong>to</strong> <strong>the</strong> tax charge2009 2008KShs’000KShs’000Accounting profi t be<strong>for</strong>e tax 1,881,678 715,889Tax at <strong>the</strong> applicable rate of 30% 564,503 214,767Tax effect of expenses not deductible <strong>for</strong> tax purposes (298,283) 7,571Tax effect of non taxable income - (43,101)Tax loss carried <strong>for</strong>ward <strong>for</strong> deferred tax change(note 18) (214,249) -Prior <strong>year</strong> over provision (4,347) -47,624 179,237East <strong>Africa</strong>n Portland Cement Co. Ltd Annual Report and Financial Statements FY 2008/20095314. BANK BALANCES AND CASHBank balances 286,471 490,445Cash in hand 41 225286,512 490,670
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