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BASOTHO ENTERPRISES DEVELOPMENT CORPORATION BALANCE SHEET AS AT 31 MARCH 2004 |
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| Notes | MARCH 2004 | MARCH 2003 | |
| CAPITAL EMPLOYED | M | M | |
| EQUITY CAPITAL: | |||
| Share capital | 3 | 1,000,000 | 1,000,000 |
| Capital Grant | 4 | 19,982,399 | 11,513,636 |
| Accumulated Surplus | 3,673,634 | 4,487,152 | |
| Total net equity capital | 24,656,033 | 17,000,788 | |
| Total capital employed | 24,656,033 | 17,000,788 | |
| EMPLOYMENT OF CAPITAL | |||
| FIXED ASSETS | 6 | 26,423,786 | 17,043,710 |
| CURRENT ASSETS | |||
| Stocks | 7 | 323,649 | 394,852 |
| Debtors | 8 | 1,496,493 | 2,735,450 |
| Cash & bank balances | 3,082,947 | 1,918,186 | |
| Total current assets | 4,903,089 | 5,048,488 | |
| CURRENT LIABILITIES | |||
| Creditors & Accruals | 9 | 3,240,842 | 3,161,410 |
| Current Portion of Long Term Loans | 5 | 1,930,000 | 1,930,000 |
| Taxation | 1,500,000 | 0 | |
| Total current liabilities | 6,670,842 | 5,091,410 | |
| NET CURRENT ASSETS \ (LIABILITIES) | -1,767,753 | -42,922 | |
| Total employment of capital | 24,656,033 | 17,000,788 | |