Notes to The Consolidated Financial Statement
AL MAZAYA HOLDING COMPANY K.S.C.P. AND ITS SUBSIDIARIES
31 December 2014
Notes to The Consolidated Financial Statement
AL MAZAYA HOLDING COMPANY K.S.C.P. AND ITS SUBSIDIARIES
31 December 2014
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14. ACCOUNTS RECEIVABLE AND OTHER DEBIT BALANCES
2014
KD
3,425,019
2,548,894
22,915
1,761,850
3,062,215
10,820,893
)972,494(
9,848,399
Trade receivables
Advance payments
Advance for investments
Due from related parties (note 25)
Other receivables
Provision for doubtful debts (note 30.1.3)
2013
KD
4,907,813
334,525
22,915
717,282
553,006
6,535,541
(972,494)
5,563,047
45
2014
9,608,895
20,964,398
1,195,875
31,769,168
-
66,124,196
857,859
66,982,055
9,608,895
87,088,594
2,053,734
98,751,223
Land
Properties under development
Developed properties
Unsold
KD
Sold
KD
Total
KD
2013
8,369,901
19,408,346
6,103,786
33,882,033
-
49,790,055
2,713,849
52,503,904
8,369,901
69,198,401
8,817,635
86,385,937
Land
Properties under development
Developed properties
Unsold
KD
Sold
KD
Total
KD
Properties held for trading mainly comprise the following;
72
15. CASH AND CASH EQUIVALENTS
Restricted bank balances represent escrow accounts restricted for receiving and making payments for specific construction
activity and these may not be available for use within 90 days.
16. SHARE CAPITAL, SHARE PREMIUM, ANNUAL GENERAL ASSEMBLY AND BONUS SHARES
a) Share capital;
b) Share premium;
Share premium represents the cash received in excess of the par value of the share issued. This is not available for
distribution.
c) Dividend and annual general meeting;
The board of directors have proposed a cash dividends of 6% for the year ended 31 December 2014 which is subject to
approval at the annual general meeting.
At the annual general meeting and extraordinary general meeting of the shareholders held on 19 March 2014, 6% bonus
shares (2012: Nil) for the financial year ended 31 December 2013 was approved. The Parent Company has obtained
regulatory approval for the issuance of bonus shares and accordingly notified the Kuwait stock exchange to adjust the
authorised and fully paid up share capital to comprise of 688,278,956 number of shares of 100 fils each.
d) Board of directors remuneration
The board of directors’ have proposed directors’ remuneration for the year ended 31 December 2014 amounting KD
120,000 and is subject to approval by annual general assembly.
The proposed board of director’s remuneration amounting to KD 85,000 for the year ended 31 December 2013 was
approved by the annual general assembly held on 19 March 2014.
2014
KD
16,239,794
77,886
16,317,680
-
16,317,680
(10,146,696)
6,170,984
Cash in hand and at banks
Cash in portfolios
Bank overdrafts
Restricted bank balances
2013
KD
17,516,278
)70,438(
17,445,840
)2,987,627(
14,458,213
)6,146,856(
8,311,357
Authorised, issued and fully paid
68,827,896
64,931,977
Shares of KD 0.100 each
2014
KD
2013
KD
73
