TotalEnergies Marketing Kenya : Summary of Audited Financial Statements for the Year Ended 31st December 2023

STATEMENT OF FINANCIAL POSITION

	AS AT		31 Dec 2023	31 Dec 2022
		KShs'000	KShs'000
ASSETS
NON-CURRENT ASSETS
Property, plant and equipment	12,193,328	11,732,456
Right-of-use assets	1,305,390	1,501,274
Goodwill	416,679	416,679
Intangible assets	307,045	297,103
Government securities held at fair value through other comprehensive income (FVOCI)	7,743,929	-
Deferred tax assets	612,209	405,543
Total non-current assets	22,578,580	14,353,055
CURRENT ASSETS
Inventories	13,057,279	11,890,143
Trade and other receivables	29,424,340	26,059,025
Amounts due from related companies	2,377,052	1,120,612
Cash and bank balances	7,878,221	19,595,935
Total current assets	52,736,892	58,665,715
																			-	24,364
TOTAL ASSETS	75,315,472	73,043,134
EQUITY AND LIABILITIES
EQUITY
Share capital	9,974,771	9,974,771
Share premium	1,967,520	1,967,520
Fair value reserve	(203,649)	-
Retained earnings	20,486,381	18,288,158
Total equity	32,225,023	30,230,449
NON-CURRENT LIABILITIES
Trade and other payables	798,434	824,398
Lease liability	700,729	721,945
Provisions	304,656	299,975

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED	31 Dec 2023	31 Dec 2022
KShs'000	KShs'000
CASH FLOWS FROM OPERATING ACTIVITIES
Cash generated from/ (used in) operations	3,231,317	(296,182)
Tax paid	(1,790,680)	(1,293,468)
Net cash generated from/ (used in) operating activities	1,440,637	(1,589,650)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment	(2,204,427)	(1,916,458)
Purchase of intangible assets	(54,942)	(106,568)
Purchase of leasehold land	-	(20,006)
Interest received on government securities at FVOCI	513,979	-
Interest received on bank deposits	890,932	567,259
Proceeds on disposal of intangible assets, property, plant and equipment	10,588	15,381
Net cash used in investing activities	(843,870)	(1,460,392)
CASH FLOWS FROM FINANCING ACTIVITIES
Interest payments on borrowings	(2,249,975)	(839,801)
Lease liability payments - principal	(217,653)	(162,623)
Lease liability payments - interest	(72,376)	(81,407)
Dividends paid	(819,769)	(824,659)
	(3,359,773)	(1,908,490)
Net decrease in cash and cash equivalents	(2,763,006)	(4,958,532)
Effect of exchange rate changes on cash and cash equivalents	22,078	(115,797)
Cash and cash equivalents as at 1 January	5,026,127	10,100,456
Cash and cash equivalents as at 31 December	2,285,199	5,026,127