BALANCE SHEET - 31 March 1993
|
|
Notes |
1993 |
1992 |
|
FUNDS EMPLOYED |
|
|
|
|
LOAN CAPITAL |
|
|
|
|
Government |
2 |
110 977 |
68 007 |
|
REDEEMABLE LOANS |
|
|
|
|
Building Societies |
3 |
23 |
72 |
|
FINANCE PROVIDED FROM OTHER SOURCES |
|
|
|
|
Capital Reserve |
4 |
57 442 |
54 525 |
|
TRADING SURPLUS |
|
35 646 |
1 672 |
|
TOTAL FUNDS EMPLOYED |
|
204 088 |
124 276 |
|
EMPLOYMENT OF FUNDS |
|
|
|
|
FIXED ASSETS |
5 |
159 742 |
92 786 |
|
CURRENT ASSETS |
|
|
|
|
Stocks and Stores |
6 |
600 217 |
203 049 |
|
Debtors |
7 |
161 219 |
130 044 |
|
Cash on hand |
|
- |
48 |
|
Bank balance |
|
11 484 |
10 096 |
|
Total current assets |
|
772 920 |
343 237 |
|
CURRENT LIABILITIES |
|
|
|
|
Short-term advances |
|
873 020 |
317 850 |
|
Creditors |
8 |
372 662 |
207 492 |
|
Total current liabilities |
|
1 245 682 |
52 5342 |
|
Net current liabilities |
|
(472 762) |
(182 105) |
|
GOVERNMENT |
|
|
|
|
Trading deficit |
|
517 108 |
171 500 |
|
Maize meal subsidy |
|
- |
42 095 |
|
TOTAL EMPLOYMENT OF FUNDS |
|
204 088 |
124 276 |
MAIZE TRADING ACCOUNT- for the year ended 31 March, 1993
|
1992 |
|
1993 |
||
|
000's |
000's |
000's |
000's |
|
|
|
|
SALES |
|
|
|
92 291 |
230 |
Export realisation |
1 |
464 |
|
(405) |
|
Cost of transport |
|
|
|
(3 431) |
|
Other export costs |
|
(186) |
|
88 455 |
|
|
|
278 |
|
440 962 |
1 049 |
Local realisations |
1 654 |
1 499 830 |
|
529 417 |
1 279 |
Total sales. |
1 655 |
1 500 108 |
|
|
|
COST OF SALES |
|
|
|
170 664 |
644 |
Stock at 31/3/92 |
65 |
27 608 |
|
|
|
Purchases after out-turn adjustments |
|
|
|
176 647 |
617 |
- local |
12 |
7 515 |
|
83 808 |
83 |
- imports |
1 845 |
2 245 113 |
|
431 119 |
1 344 |
|
1 922 |
2 280 236 |
|
27 608 |
65 |
Stock at 31/3/93 |
267 |
235 588 |
|
403 511 |
1 279 |
Total cost of sales |
1 655 |
2 044 648 |
|
125 906 |
|
GROSS SURPLUS/(DEFICIT) |
|
(544 540) |
|
|
|
FINANCE CHARGES |
|
|
|
18 751 |
|
Short term loan interest |
|
40 562 |
|
107 155 |
|
SURPLUS/(DEFICIT) AFTER FINANCE CHARGES |
|
(585 502) |
|
|
|
BOARD COSTS |
|
|
|
238 |
|
Collection |
|
|
|
35 090 |
|
Handling |
|
94 366 |
|
39 305 |
|
Internal transport |
|
50 408 |
|
7 535 |
|
Storage and capital loan interest |
|
2 265 |
|
18 796 |
|
Administration |
|
33 263 |
|
100 964 |
|
Total board costs |
|
180 302 |
|
6 187 |
|
NET SURPLUS/(DEFICIT) |
|
(765 804) |
BALANCE SHEET- 31 March, 1993
|
|
Notes |
1993 |
1992 |
|
$000's |
$000's |
||
|
FUNDS EMPLOYED |
|
|
|
|
LOAN CAPITAL |
|
|
|
|
Government |
2 |
110 977 |
68 007 |
|
REDEEMABLE LOANS |
|
|
|
|
Building Societies |
3 |
23 |
72 |
|
FINANCE PROVIDED FROM OTHER SOURCES |
|
|
|
|
Capital Reserve |
4 |
57 442 |
54 525 |
|
TRADING SURPLUS |
|
35 646 |
1 672 |
|
TOTAL FUNDS EMPLOYED |
|
204 088 |
124 276 |
|
EMPLOYMENT OF FUNDS |
|
|
|
|
FIXED ASSETS |
5 |
159 742 |
92 786 |
|
CURRENT ASSETS |
|
|
|
|
Stocks and Stores |
6 |
600 217 |
203 049 |
|
Debtors |
7 |
161 219 |
130 044 |
|
Cash on hand |
|
- |
48 |
|
Bank balance |
|
11 484 |
10 096 |
|
Total current assets |
|
772 920 |
343237 |
|
CURRENT LIABILITIES |
|
|
|
|
Short-term advances |
|
873 020 |
317 850 |
|
Creditors |
8 |
372 662 |
207 492 |
|
Total current liabilities |
|
1 245 682 |
525 342 |
|
Net current liabilities |
|
(472 762) |
(182 105) |
|
GOVERNMENT |
|
|
|
|
Trading deficit |
|
517 108 |
171 500 |
|
Maize meal subsidy" |
|
- |
42 095 |
|
TOTAL EMPLOYMENT OF FUNDS |
|
204 088 |
124 276 |
MAIZE TRADING ACCOUNT - for the year ended 31 March. 1993
|
1992 |
|
1993 |
||
|
000's |
000's |
000's |
000's |
|
|
|
|
SALES |
|
|
|
92291 |
230 |
Export realisation |
1 |
464 |
|
(405) |
|
Coat of transport |
|
|
|
(3431) |
|
Other export costs |
|
(186) |
|
88 455 |
|
|
|
278 |
|
440 962 |
1 049 |
Local realisations |
1 654 |
1 499 830 |
|
529 417 |
1 279 |
Total sales |
1 655 |
1 500 108 |
|
|
|
COST OF SALES |
|
|
|
170 664 |
644 |
Stock at 31/3/92 |
65 |
27 608 |
|
|
|
Purchases after out-turn adjustments |
|
|
|
176 647 |
617 |
- local |
12 |
7 515 |
|
83 808 |
83 |
- imports |
1 845 |
2 245 113 |
|
431 119 |
1 344 |
|
1 922 |
2 280 236 |
|
27 608 |
65 |
Stock at 31/3/93 |
267 |
235 588 |
|
403 511 |
1 279 |
Total cost of sales |
1 655 |
2 044 648 |
|
125 906 |
|
GROSS SURPLUS/(DEFICIT) |
|
(544 540) |
|
|
|
FINANCE CHARGES |
|
|
|
18751 |
|
Short term loan interest |
|
40 562 |
|
107 155 |
|
SURPLUS/(DEFICIT) AFTER FINANCE CHARGES |
|
(585 502) |
|
|
|
BOARD COSTS |
|
|
|
233 |
|
Collection |
|
- |
|
35 090 |
|
Handling |
|
94 366 |
|
39 305 |
|
Internal transport |
|
50 408 |
|
7 535 |
|
Storage and capital loan interest |
|
2 265 |
|
18 796 |
|
Administration |
|
33 263 |
|
100 964 |
|
Total board costs |
|
180 302 |
|
6 187 |
|
NET SURPLUS/(DEFICIT) |
|
(765 804) |
WHEAT TRADING ACCOUNT - For the year ended 31 March, 1993
|
1992 |
|
1993 |
||
|
000's |
000's |
000's |
000's |
|
|
|
|
SALES |
|
|
|
137 |
1 |
Export realisations |
- |
- |
|
216 661 |
349 |
Local realisations |
344 |
397 674 |
|
216 798 |
350 |
Total sales |
344 |
397 674 |
|
|
|
COST OF SALES |
|
|
|
131 721 |
258 |
Stock; at 31/3/92 |
178 |
102 515 |
|
- |
10 |
Prior year adjustment |
|
|
|
|
|
Purchases after out-turn adjustments |
|
|
|
137 798 |
260 |
- local |
58 |
57 142 |
|
575 |
- |
- imports |
201 |
262 090 |
|
270 094 |
528 |
|
437 |
421 747 |
|
102 515 |
178 |
Stock at 31/3/93 |
93 |
122 462 |
|
167 579 |
350 |
Total cost of sales |
344 |
299 285 |
|
49 219 |
|
GROSS SURPLUS |
|
98 389 |
|
|
|
FINANCE CHARGES |
|
|
|
15 440 |
|
Short term loan interest |
|
28 039 |
|
33 779 |
|
SURPLUS AFTER FINANCE CHARGES |
|
70 350 |
|
|
|
BOARD COSTS |
|
|
|
9 800 |
|
Handling |
|
15 543 |
|
11 891 |
|
Internal transport |
|
10 647 |
|
3 843 |
|
Storage and capital loan interest |
|
1 854 |
|
5 591 |
|
Administration |
|
5 545 |
|
31 125 |
|
Total board costs |
|
33 589 |
|
2 654 |
|
NET SURPLUS |
|
36 761 |
RAPOKO TRADING ACCOUNT - for the year coded 31 March, 1993
|
1992 |
|
1993 |
||
|
000's |
000's |
000's |
000's |
|
|
|
|
SALES |
|
|
|
1 610 |
7 |
Export realisation |
- |
|
|
(486) |
|
Cost of transport |
- |
- |
|
1 124 |
|
|
|
|
|
136 |
1 |
Local realisations |
- |
41 |
|
1 260 |
8 |
Total sales |
- |
41 |
|
|
|
COST OF SALES |
|
|
|
1 403 |
10 |
Stock at 31/3/92 |
- |
1 |
|
|
(2) |
Prior year adjustment |
|
|
|
|
|
Purchases after out-turn adjustments |
|
|
|
84 |
- |
- local |
- |
- |
|
1 487 |
8 |
|
- |
1 |
|
1 |
- |
Stock at 31/3/93 |
- |
- |
|
1 486 |
8 |
Total cost of sales |
- |
1 |
|
(226) |
|
GROSS (DEFICIT/SURPLUS) |
|
40 |
|
|
|
FINANCE CHARGES |
|
|
|
118 |
|
Short term loan interest |
|
- |
|
(344) |
|
SURPLUS AFTER FINANCE CHARGES |
|
40 |
|
|
|
BOARD COSTS |
|
|
|
97 |
|
Handling |
|
1 |
|
9 |
|
Internal transport |
|
6 |
|
102 |
|
Storage and capital loan interest |
|
1 |
|
61 |
|
Administration |
|
- |
|
269 |
|
Total board costs |
|
8 |
|
(613) |
|
NET (DEFICIT/SURPLUS) |
|
32 |
WHEAT TRADING ACCOUNT - for the year ended 31 March, 1993
|
1992 |
|
1993 |
||
|
000's |
000's |
000's |
000's |
|
|
|
|
SALES |
|
|
|
137 |
1 |
Export realisations |
- |
- |
|
216 661 |
349 |
Local realisations |
344 |
397 674 |
|
216 798 |
350 |
Total sales |
344 |
397 674 |
|
|
|
COST OF SALES |
|
|
|
131 721 |
258 |
Stock at 31/3/92 |
178 |
102 515 |
|
|
10 |
Prior year adjustment |
|
|
|
|
|
Purchases after out-turn adjustments |
|
|
|
137 798 |
260 |
- local |
58 |
57 142 |
|
575 |
|
- imports |
201 |
262 090 |
|
270 094 |
528 |
|
437 |
421 747 |
|
102 515 |
178 |
Stock at 31/3/93 |
93 |
122 462 |
|
167 579 |
350 |
Total cost of sales |
344 |
299 285 |
|
49 219 |
|
GROSS SURPLUS |
|
98 389 |
|
|
|
FINANCE CHARGES |
|
|
|
15 440 |
|
Short term loan interest |
|
28 039 |
|
33 779 |
|
SURPLUS AFTER FINANCE CHARGES |
|
70 350 |
|
|
|
BOARD COSTS |
|
|
|
9 800 |
|
Handling |
|
15 543 |
|
11 891 |
|
Internal transport |
|
10 647 |
|
3 843 |
|
Storage and capital loan interest |
|
1 854 |
|
5 591 |
|
Administration |
|
5 545 |
|
31 125 |
|
Total board costs |
|
33 589 |
|
2 654 |
|
NET SURPLUS |
|
36 761 |
RAPOKO TRADING ACCOUNT - for the year ended 31 March, 1993
|
1992 |
|
1993 |
||
|
000's |
000's |
000's |
000's |
|
|
|
|
SALES |
|
|
|
1 610 |
7 |
Export realisation |
- |
|
|
(486) |
|
Cost of transport |
- |
- |
|
1 124 |
|
|
|
|
|
136 |
1 |
Local realisations |
- |
41 |
|
1 260 |
8 |
Total sales |
- |
41 |
|
|
|
COST OF SALES |
|
|
|
1 403 |
10 |
Stock at 31/3/92 |
- |
1 |
|
|
(2) |
Prior year adjustment |
|
|
|
|
|
Purchases after out-turn adjustments |
|
|
|
84 |
- |
- local |
- |
- |
|
1 487 |
8 |
|
- |
1 |
|
1 |
- |
Stock at 31/3/93 |
- |
- |
|
1 486 |
8 |
Total cost of sales |
- |
1 |
|
(226) |
|
GROSS (DEFICIT/SURPLUS) |
|
40 |
|
|
|
FINANCE CHARGES |
|
|
|
118 |
|
Short term loan interest |
|
- |
|
(344) |
|
SURPLUS AFTER FINANCE CHARGES |
|
40 |
|
|
|
BOARD COSTS |
|
|
|
97 |
|
Handling |
|
1 |
|
9 |
|
Internal transport |
|
6 |
|
102 |
|
Storage and capital loan interest |
|
1 |
|
61 |
|
Administration |
|
- |
|
269 |
|
Total board costs |
|
8 |
|
(613) |
|
NET (DEFICIT/SURPLUS) |
|
32 |
SOYABEAN TRADING ACCOUNT - for the year ended 31 March 1993
|
1992 |
|
1993 |
||
|
000's |
000's |
000's |
000's |
|
|
|
|
SALES |
|
|
|
75 751 |
112 |
Local realisations |
90 |
137 209 |
|
75 751 |
112 |
Total sales |
90 |
137 209 |
|
|
|
COST OF SALES |
|
|
|
781 |
2 |
Stock at 31/3/92 |
1 |
651 |
|
|
|
Purchases after out-turn adjustments |
|
|
|
63 244 |
111 |
- local |
43 |
40 458 |
|
- |
- |
- imports |
159 |
234 830 |
|
64 025 |
113 |
|
203 |
275 939 |
|
651 |
1 |
Stock at 31/3/93 |
113 |
170 626 |
|
63 374 |
112 |
Total cost of sales |
90 |
105 313 |
|
12 377 |
|
GROSS SURPLUS |
|
31 896 |
|
|
|
FINANCE CHANGES |
|
|
|
4 610 |
|
Short term loan interest |
|
29 289 |
|
7 767 |
|
SURPLUS AFTER FINANCE CHARGES |
|
2 607 |
|
|
|
BOARD COSTS |
|
|
|
47 |
|
Collection |
|
- |
|
3 460 |
|
Handling |
|
7 428 |
|
2 502 |
|
Internal transport |
|
3 805 |
|
1 058 |
|
Storage and capital loan interest |
|
1 374 |
|
2 011 |
|
Administration |
|
2 664 |
|
9 078 |
|
Total board costs |
|
15 271 |
|
(1 311) |
|
NET DEFICIT |
|
(12 664) |
COFFEE TRADING ACCOUNT - for the year ended 31 March, 1993
|
1992 |
|
1993 |
||
|
000's |
000's |
000's |
000's |
|
|
|
|
SALES |
|
|
|
83 182 |
12 |
Export realisation |
7 |
44 599 |
|
(1 540) |
|
Cost of transport |
|
(989) |
|
(144) |
|
Other export costs |
|
(302) |
|
81 498 |
|
|
|
43 308 |
|
1 537 |
1 |
Local realisations |
- |
1 415 |
|
83 035 |
13 |
Total sales |
7 |
44 723 |
|
|
|
COST OF SALES |
|
|
|
26 677 |
7 |
Stock at 31/3/92 |
6 |
35 355 |
|
|
|
Purchases after out-turn adjustments |
|
|
|
89 281 |
12 |
- local |
5 |
18 364 |
|
115 958 |
19 |
|
11 |
53 719 |
|
35 355 |
6 |
Stock at 31/3/93 |
4 |
12 005 |
|
80 603 |
13 |
Total cost of sales |
7 |
41 714 |
|
2 432 |
|
GROSS SURPLUS |
|
3 009 |
|
|
|
FINANCE CHARGES |
|
|
|
6 174 |
|
Short term loan interest |
|
6 283 |
|
(3 742) |
|
DEFICIT AFTER FINANCE CHARGES |
|
(3 274) |
|
|
|
BOARD COSTS |
|
|
|
4359 |
|
Handling |
|
3 474 |
|
575 |
|
Internal transport |
|
280 |
|
99 |
|
Storage and capital loan interest |
|
179 |
|
1 070 |
|
Administration |
|
190 |
|
6 103 |
|
Total board costs |
|
4 123 |
|
(9 845) |
|
NET DEFICIT |
|
(7 397) |
SOYABEAN TRADING ACCOUNT - for the year ended 31 March, 1993
|
1992 |
|
1993 |
||
|
000's |
000's |
000's |
000's |
|
|
|
|
SALES |
|
|
|
75 751 |
112 |
Local realisations |
90 |
137 209 |
|
75 751 |
112 |
Total sales |
90 |
137 209 |
|
|
|
COST OF SALES |
|
|
|
781 |
2 |
Stock at 31/3/92 |
1 |
651 |
|
|
|
Purchases after out-turn adjustments |
|
|
|
63 244 |
111 |
-local |
43 |
40 458 |
|
- |
- |
-imports |
159 |
234 830 |
|
64 025 |
113 |
|
203 |
275 939 |
|
651 |
1 |
Stock at 31/3/93 |
113 |
170 626 |
|
63 374 |
112 |
Total cost of sales |
90 |
105 313 |
|
12 377 |
|
GROSS SURPLUS |
|
31 896 |
|
|
|
FINANCE CHANGES |
|
|
|
4 610 |
|
Short term loan interest |
|
29 289 |
|
7 767 |
|
SURPLUS AFTER FINANCE CHARGES |
|
2 607 |
|
|
|
BOARD COSTS |
|
|
|
47 |
|
Collection |
|
- |
|
3 460 |
|
Handling |
|
7 428 |
|
2 502 |
|
Internal transport |
|
3 805 |
|
1 058 |
|
Storage and capital loan interest |
|
1 374 |
|
2 011 |
|
Administration |
|
2 664 |
|
9 078 |
|
Total board costs |
|
15 271 |
|
(1 311) |
|
NET DEFICIT |
|
(12 664) |
COFFEE TRADING ACCOUNT - for the year ended 31 March, 1993
|
1992 |
|
1993 |
||
|
000's |
000's |
000's |
000's |
|
|
|
|
SALES |
|
|
|
83 182 |
12 |
Export realisation |
7 |
44 599 |
|
(1 540) |
|
Cost of transport |
|
(989) |
|
(144) |
|
Other export costs |
|
(302) |
|
81 498 |
|
|
|
43 308 |
|
1 537 |
1 |
Local realisations |
- |
1 415 |
|
83 035 |
13 |
Total sales |
7 |
44 723 |
|
|
|
COST OF SALES |
|
|
|
26 677 |
7 |
Stock at 31/3/92 |
6 |
35 355 |
|
|
|
Purchases after out-turn adjustments |
|
|
|
89 281 |
12 |
- local |
5 |
18 364 |
|
115 958 |
19 |
|
11 |
53 719 |
|
35 355 |
6 |
Stock at 31/3/93 |
4 |
12 005 |
|
80 603 |
13 |
Total cost of sales |
7 |
41 714 |
|
2 432 |
|
GROSS SURPLUS |
|
3 009 |
|
|
|
FINANCE CHARGES |
|
|
|
6 174 |
|
Short term loan interest |
|
6 283 |
|
(3 742) |
|
DEFICIT AFTER FINANCE CHARGES |
|
(3 274) |
|
|
|
BOARD COSTS |
|
|
|
4359 |
|
Handling |
|
3 474 |
|
575 |
|
Internal transport |
|
280 |
|
99 |
|
Storage and capital loan interest |
|
179 |
|
1 070 |
|
Administration |
|
190 |
|
6 103 |
|
Total board costs |
|
4 123 |
|
(9 845) |
|
NET DEFICIT |
|
(7 397) |
STATEMENT OF SOURCE AND APPLICATION OF FUNDS - for the year ended 31 March 1993
|
|
1993 |
1992 |
|
|
$000's |
$000's |
||
|
SOURCE OF FUNDS |
|
|
|
|
Government loans |
42 970 |
11 125 |
|
|
Donor aid - silo projects |
533 |
2 501 |
|
|
|
- other |
2 176 |
1 202 |
|
Trading deficit recovered from Government |
213 595 |
79 900 |
|
|
Proceeds on disposal of fixed assets |
208 |
125 |
|
|
Total source of funds |
259 482 |
94 853 |
|
|
APPLICATION OF FUNDS |
|
|
|
|
Deficit on trading (including subsidies) |
472 968 |
38 325 |
|
|
Interest on accumulated deficits |
- |
24 791 |
|
|
Adjustment for items not involving the movement of funds: |
|
|
|
|
|
- Depreciation |
(7 751) |
(6 909) |
|
Net deficit from operations |
465 210 |
56 207 |
|
|
Exchange losses |
10 165 |
64 247 |
|
|
Repayment of redeemable loans |
|
|
|
|
|
- Building Societies |
49 |
29 |
|
Purchase of fixed assets |
74 714 |
13 238 |
|
|
Total application of funds |
550 138 |
133 721 |
|
|
(DECREASE)/IN CREASE in working capital |
(290 656) |
(38 868) |
|
|
Represented by: |
|
|
|
|
|
Increase/(Decrease) in stocks and stores |
397 168 |
(185 207) |
|
|
(Increase)/Decrease in short term borrowings |
(555 169) |
182 850 |
|
|
Increase in creditors |
(165 170) |
(55 889) |
|
|
Increase m debtors, cash, and bank balances |
32 515 |
19 378 |
|
|
(290 556) |
(38 868) |
|
NOTES TO THE FINANCIAL STATEMENTS - for the year ended 31 March, 1993
|
|
1993 |
1992 |
|
|
$000's |
$000's |
||
|
6. STOCKS AND STORES |
|
|
|
|
Grain |
559 016 |
168 669 |
|
|
Stores - new sacks |
20 916 |
14 595 |
|
|
|
- used sacks |
5 612 |
9 578 |
|
|
- tarpaulins and dunnage |
2 849 |
1 295 |
|
|
- other |
11 824 |
8 912 |
|
|
600 217 |
203 049 |
|
|
7. DEBTORS |
|
|
|
|
Trade |
138 183 |
86 568 |
|
|
Coffee Producers' Trading Deficit |
12 713 |
6 255 |
|
|
Coffee Producers |
- |
127 |
|
|
Other |
10 323 |
37 094 |
|
|
|
161 219 |
130 044 |
|
|
8. CREDITORS |
|
|
|
|
Trade |
327 162 |
21 193 |
|
|
A.M.A. Foreign Exchange Losses |
13 253 |
149 719 |
|
|
Other |
32 247 |
36 580 |
|
|
|
372 662 |
207 492 |
|
STATEMENT OF SOURCE AND APPLICATION OF FUNDS -for the year ended 31 March 1993
|
|
1993 |
1992 |
|
|
$000's |
$000's |
||
|
SOURCE OF FUNDS |
|
|
|
|
Government loans |
42 970 |
11 125 |
|
|
Donor aid - silo projects |
533 |
2 501 |
|
|
|
- other |
2 176 |
1 202 |
|
Trading deficit recovered from Government |
213 595 |
79 900 |
|
|
Proceeds on disposal of fixed assets |
208 |
125 |
|
|
Total source of funds |
259 482 |
94 853 |
|
|
APPLICATION OF FUNDS |
|
|
|
|
Deficit on trading (including subsidies) |
472 968 |
38 325 |
|
|
Interest on accumulated deficits |
- |
24 791 |
|
|
Adjustment for items not involving the movement of funds: |
|
|
|
|
|
- Depreciation |
(7 751) |
(6 909) |
|
Net deficit from operations |
465 210 |
56 207 |
|
|
Exchange losses |
10 165 |
64 247 |
|
|
Repayment of redeemable loans |
|
|
|
|
|
- Building Societies |
49 |
29 |
|
Purchase of fixed assets |
74 714 |
13 238 |
|
|
Total application of funds |
550 138 |
133 721 |
|
|
(DECREASE)/IN CREASE in working capital |
(290 656) |
(38 868) |
|
|
Represented by: |
|
|
|
|
|
Increase/(Decrease) in stocks and stores |
397 168 |
(185 207) |
|
|
(Increase)/Decrease in short term borrowings |
(555 169) |
182 850 |
|
|
Increase in creditors |
(165 170) |
(55 889) |
|
|
Increase m debtors, cash, and bank balances |
32 515 |
19 378 |
|
|
(290 656) |
(38 868) |
|
NOTES TO THE FINANCIAL STATEMENTS - for the year ended 31 March, 1993
|
|
1993 |
1992 |
|
|
$000's |
$000's |
||
|
6. STOCKS AND STORES |
|
|
|
|
Grain |
559 016 |
168 669 |
|
|
Stores - new sacks |
20 916 |
14 595 |
|
|
|
- used sacks |
5 612 |
9 578 |
|
|
- tarpaulins and dunnage |
2 849 |
1 295 |
|
|
- other |
11 824 |
8 912 |
|
|
600 217 |
203 049 |
|
|
7. DEBTORS |
|
|
|
|
Trade |
138 183 |
86 568 |
|
|
Coffee Producers' Trading Deficit |
12 713 |
6 255 |
|
|
Coffee Producers |
- |
127 |
|
|
Other |
10 323 |
37 094 |
|
|
|
161 219 |
130 044 |
|
|
8. CREDITORS |
|
|
|
|
Trade |
327 162 |
21 193 |
|
|
A.M.A. Foreign Exchange Losses |
13 253 |
149 719 |
|
|
Other |
32 247 |
36 580 |
|
|
|
372 662 |
207 492 |
|
NOTES TO THE FINANCIAL STATEMENTS - for the year ended 31 March, 1993
|
|
YELLOW MAIZE |
WHEAT |
COFFEE |
OTHER |
TOTAL |
|
GRAIN STOCKS (000's TONNES) |
|
|
|
|
|
|
1993 |
|
|
|
|
|
|
PHYSICAL STOCKS |
270 |
94 |
5 |
137 |
505 |
|
PROVISION FOR FUTURE LOSSES |
(3) |
(1) |
- |
(1) |
(5) |
|
STOCK PER TRADING ACCOUNT |
267 |
93 |
4 |
136 |
500 |
|
1992 |
|
|
|
|
|
|
PHYSICAL STOCK |
66 |
180 |
6 |
4 |
256 |
|
PROVISION FOR FUTURE LOSSES |
(1) |
(2) |
- |
- |
(3) |
|
|
65 |
178 |
6 |
4 |
253 |
|
STOCK OUT-TURN GAINS/(LOSSES) (000's TONNES) |
|
|
|
|
|
|
1993 |
- |
- |
- |
- |
- |
|
1992 |
5 |
- |
- |
(6) |
(1) |
CAPITAL BUDGET EXPENDITURE - for the year ended 31 March, 1993
|
|
Approved Budget |
Actual Expenditure |
Balance Carried Forward |
|
$ |
$ |
$ |
|
|
PART I: WORK IN PROGRESS |
|
|
|
|
1. Shipment |
10 350 000 |
10 067 000 |
282 317 |
|
2. Bulk Grain Depot |
15 000 000 |
40 658 372 |
(25 658 372) |
|
3. Bulk Grain Depot |
12 600 000 |
11 937 740 |
662 260 |
|
4. Sham |
3 750 000 |
2 459 067 |
1 290 933 |
|
5. Middle Sabi |
3 400 000 |
1 893 742 |
1 506 258 |
|
6. Bag Depot |
1 000 000 |
3 923 |
996 077 |
|
7. Additional Depot Facilities |
1 134 000 |
231 383 |
902 617 |
|
8. Laboratory |
650 000 |
- |
650 000 |
|
9. Depot Improvements |
972 000 |
907 000 |
65 000 |
|
10. Staff Housing |
500 000 |
482 000 |
18 000 |
|
11. Plant Machinery and Minor Works |
80 000 |
74 000 |
6 000 |
|
12. MIS and Training |
199 000 |
133 607 |
65 393 |
|
13. Motor Vehicles |
2 500 000 |
2 438 741 |
61 259 |
|
TOTAL PART I |
52 135 000 |
71 287 258 |
(19 152 258) |
|
PART II: NEW WORKS |
|
|
|
|
1. Muma |
50 000 |
- |
50 000 |
|
2. Sara |
50 000 |
- |
50 000 |
|
3. Depot Improvements |
1 500 000 |
1 174 802 |
325 198 |
|
4. Plant and Machinery |
1 250 000 |
1 240 792 |
9 208 |
|
5. Staff Housing |
2 000 000 |
142517 |
1 857 483 |
|
6. Decentralisation |
2 000 000 |
1 025 365 |
974 635 |
|
TOTAL PART II |
6 850 000 |
3 583 476 |
3 266 524 |
|
TOTAL PART I AND II |
58 985 000 |
74 870 734 |
(15 885 734) |
STATEMENT OF REVENUE EXPENSES - for the year ended 31 March, 1993
|
|
Actual Expenditure to |
|
|
31.3.93 |
1992 |
|
|
$ |
$ |
|
|
1. PURCHASES |
|
|
|
Local Controlled products |
133 931 855 |
511 207 256 |
|
Imports Rice |
35 259 421 |
- |
|
Wheat |
262 090 371 |
- |
|
Groundnuts |
- |
|
|
Sorghum |
17 659 435 |
- |
|
E. Beans |
- |
- |
|
Soyabeans |
234 829 590 |
- |
|
Maize |
2 245 113 260 |
- |
|
TOTAL IMPORTS |
2 794 952 077 |
95 297 301 |
|
TOTAL PURCHASES - PRODUCTS |
2 928 883 932 |
606 504 557 |
|
2. HANDLING |
|
|
|
Salaries |
24 706 069 |
43 854 891 |
|
Wages |
27 155 335 |
- |
|
Fumigation expenses |
1 085 252 |
1 579 792 |
|
Establishment and other expenses |
1 744 251 |
1 638 377 |
|
Travelling expenses |
897 663 |
834 761 |
|
Transport, staff, laboratory and equipment |
3 312 428 |
1 910 051 |
|
Plant working expenses |
12 047 379 |
7 697 848 |
|
Handling by agents |
4 622 727 |
6 186 |
|
Depreciation |
4 455 706 |
4 132 249 |
|
Pockets |
- |
269 587 |
|
Sack handling |
43 234 477 |
(1 458 479) |
|
LESS: SUNDRY REVENUE |
(339 936) |
(675 932) |
|
TOTAL |
122 921 351 |
59 789 331 |
|
STORAGE AND CAPITAL LOAN INTEREST |
|
|
|
Storage accommodation and material |
2 498 727 |
4 128 976 |
|
Insurances |
364 341 |
969 504 |
|
Sacks & Twine |
(224 386) |
929 402 |
|
Depreciation |
1 212 578 |
1 194 942 |
|
Capital loan interest |
6 069 141 |
6 188 003 |
|
Plant working expenses |
344 926 |
- |
|
LESS: SUNDRY REVENUE |
(4 139 864) |
- |
|
TOTAL |
6 125 464 |
13 410 827 |
|
TOTAL STORAGE AND HANDLING |
129 046 815 |
73 200 158 |
STATEMENT OF REVENUE EXPENSES - for the year ended 31 March, 1993
|
|
Actual Expenditure to |
|
|
|
31.3.93 |
1992 |
||
|
$ |
$ |
||
|
3. TRANSPORT AND SHIPPING COSTS |
|
|
|
|
Maize |
Inter Transport |
50 407 530 |
39 250 729 |
|
|
Import Transport |
- |
- |
|
|
Ext. Transport |
- |
- |
|
|
Export Costs |
186 364 |
3 835 309 |
|
Coffee |
Inter Transport |
279 852 |
574 535 |
|
|
Ext. Transport |
989 265 |
- |
|
|
Export Costs |
302 149 |
1 684 811 |
|
Sorghum |
Inter Transport |
3 927 913 |
26 276 |
|
|
Ext. Transport |
- |
- |
|
|
Ext. Transport |
- |
- |
|
|
Export Costs |
- |
1 342 540 |
|
Groundnuts |
Inter Transport |
24 400 |
859 259 |
|
|
Import Transport |
- |
- |
|
|
Export Costs |
- |
133 496 |
|
Soyabeans |
Inter Transport |
3 804 879 |
2 501 596 |
|
|
Import Transport |
- |
- |
|
|
Ext. Transport |
- |
- |
|
E. Beans |
Inter Transport |
- |
- |
|
Mhunga |
Inter Transport |
- |
12 181 |
|
Wheat |
Inter Transport |
10 647 207 |
11 891 037 |
|
|
Import Transport |
- |
- |
|
Sunflower |
Inter Transport |
912 921 |
4 438 724 |
|
Rapoko |
Inter Transport |
5 615 |
8 522 |
|
|
Import Transport |
- |
- |
|
|
Export Costs |
- |
485 782 |
|
Rice |
Inter Transport |
216 311 |
80 917 |
|
|
Import Transport |
- |
- |
|
Provision for Demurrage |
- |
- |
|
|
TOTAL TRANSPORT AND SHIPPING COSTS |
71 704 407 |
67 125 714 |
|
|
TOTAL INTERNAL TRANSPORT |
70 226 629 |
59 643 776 |
|
|
TOTAL EXTERNAL TRANSPORT |
989 265 |
- |
|
|
TOTAL EXPORT COSTS |
488 513 |
7 481 938 |
|
|
TOTAL TRANSPORT COSTS |
71 704 407 |
67 125 714 |
|
STATEMENT OF REVENUE EXPENSES - for the year ended 31 March, 1993
|
|
Actual Expenditure to |
|
|
|
31.3.93 |
1992 |
||
|
$ |
$ |
||
|
4. ADMINISTRATION AND INTEREST |
|
|
|
|
Contribution to A.M.A. |
511 717 |
558 125 |
|
|
Salaries |
13 285 047 |
10 573 457 |
|
|
Wages |
6 422 759 |
5 373 353 |
|
|
Printing and stationery |
1 024 323 |
647 734 |
|
|
Postage and telephones |
754 039 |
608 231 |
|
|
Audit fee |
367 104 |
252 088 |
|
|
Data processing charges |
1 320 188 |
1 301 135 |
|
|
Rents payable |
2 428 676 |
1 821 622 |
|
|
Other administration expenses |
112 835 055 |
6 889 501 |
|
|
Travelling expenses |
2 063 497 |
1 378 265 |
|
|
Advertising and promotion |
172 702 |
- |
|
|
Staff training |
353 171 |
- |
|
|
Handling and investment costs |
54 664 |
13 502 |
|
|
Public relations |
635 790 |
- |
|
|
Depreciation |
306 895 |
256 209 |
|
|
Less: Sundry revenue |
(98 425) |
(75 5S2) |
|
|
|
: Stop order fees |
(31 388) |
(173 765) |
|
Add: Interest on short-term borrowings and bank charges |
112 812 198 |
73 468 090 |
|
|
Less: Interest charged to trading reserve fund |
- |
(24 791 000) |
|
|
TOTAL ADMINISTRATION AND INTEREST |
155 218013 |
78 105 965 |
|
|
A.M.A. EXCHANGE LOSS |
11 081 345 |
87 449 365 |
|
|
TOTAL EXPENDITURE |
3 295 934 512 |
912 385 759 |
|
|
5. SUMMARY |
|
|
|
|
PURCHASES |
2 928 883 932 |
606 504 557 |
|
|
HANDLING AND STORAGE |
129 046 815 |
73 200 153 |
|
|
INTERNAL TRANSPORT |
70 226 629 |
59 643 773 |
|
|
ADMINISTRATION AND INTEREST |
155 218 013 |
78 105 965 |
|
|
|
354 492 457 |
210 949 899 |
|
|
EXPORT COSTS AND TRANSPORT |
1 477 778 |
7 481 938 |
|
|
UNUSUAL FOREIGN EXCHANGE LOSS |
11 081 345 |
87 449 365 |
|
|
|
367 050 580 |
305 881 202 |
|
|
|
3 295 934 512 |
912 385 759 |
|
This is one of series of four texts on marketing and agribusiness prepared by an FAO project for use in universities and colleges teaching agricultural marketing, agribusiness studies. This text, Basic finance for marketers, introduces the basic principles and techniques of finance and accounting to enable marketers to be aware of the financial implications of decision-making. This knowledge will assist them in the evaluation of current and alternative marketing activities. The text contains worked and unworked examples, exercises and a glossary of the key terms used.
