Test Drive | Page 16

Federation of East African Freight Forwarders Associations (FEAFFA) STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2014 2014 2013 2014 2013 Notes US$ US$ K Sh K Sh 3 16,192 21,988 1,466,984 1,897,784 ===== ===== ======== ======== ASSETS Non-current assets Computers & equipment Current assets Deferred expense 4 - 5,059 - 436,642 Accounts receivable 5 25,020 23,653 2,266,831 2,041,490 Cash and bank balance 6 52,194 54,848 4,728,784 4,733,931 --------- --------- ------------- ------------- 77,214 83,560 6,995,615 7,212,064 --------- --------- ------------- ------------- 93,406 105,548 8,462,599 9,109,848 ===== ====== ======== ======== Total assets MEMBERS FUNDS AND LIABILITIES Capital fund and reserves Revenue reserve 7 19,972 24,220 1,809,460 2,090,417 Capital fund 8 16,192 21,988 1,466,984 1,897,784 --------- --------- ------------- ------------- 36,164 46,208 3,276,444 3,988,201 --------- --------- ------------- ------------- Current liabilities Accounts payable 9 51,514 59,340 4,667,191 5,121,647 Gratuity payable 10 5,728 - 518,964 - --------- --------- ------------- ------------- 57,242 59,340 5,186,155 5,121,647 --------- ----------- ------------- ------------- 93,406 105,548 8,462,599 9,109,848 ===== ====== ======== ======== Total funds and liabilities 16 ANNUAL REPORT 2014