Page 47 - GROUP 3 NAKED HOTEL LIMITED ANNUAL REPORT
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21. Cash and Cash Equivalents
Cash and cash equivalents are carried in the Balance Sheet at cost. For the purposes of the Cash
Flow Statement, cash and cash equivalents comprise cash on hand, deposits held at call with
banks, other short term highly liquid investments with original maturities of three months or less,
and bank overdrafts.
2016 2015
$'000 $'000
Cash in hand and at bank 53,594 80,817
Fixed deposits (Maturity- 30 days) 20,000
73,594 80,817
22. General Reserves
2016 2015
$'000 $'000
At beginning of the year 20,000 15,000
Transfer from Income Statement 5,000 5,000
At end of the year 25,000 20,000
23. Long term Loan
2016 2015
$‘000 $‘000
Long term loan 75,000 100,000
Less current portion 25,000 25,000
50,000 75,000
The interest rate on the loan is 20% per annum.
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