KUWAIT ENERGY plc GROUP
CONSOLIDATED BALANCE SHEET
For the year ended 31 December 2013
F-30
2013
2012
Notes
USD 000’s
USD 000’s
ASSETS
Non-current assets
Intangible exploration and evaluation assets
16
195,452
182,968
Property, plant and equipment
17
356,591
480,738
Advance for acquisition of subsidiary
15
-
30,000
Other non-current assets
22
6,455
7,647
Deferred tax asset
12
-
8,404
558,498
709,757
Current assets
Inventories
18
24,149
19,865
Trade and other receivables
19
170,271
220,020
Cash and bank balances
20
131,563
48,384
Assets classified as held for sale
14
51,274
-
377,257
288,269
Total assets
935,755
998,026
EQUITY AND LIABILITIES
Equity
Share capital
21
507,832
500,857
Share premium
189,309
188,526
Merger reserve
(36,140)
(36,140)
Other reserves
-
(8,766)
Retained (deficit) / earnings
(151,008)
112,466
Total equity
509,993
756,943
Non-current liabilities
Long-term loans
22
88,867
60,000
Convertible loans
23
105,807
83,213
Long-term provisions
24
6,256
3,471
Deferred tax liability
12
-
24,053
200,930
170,737
Current liabilities
Trade and other payables
25
96,617
56,905
Current tax payable
25
9,386
8,926
Derivative financial instruments
26
162
484
Current portion of long-term loans
22
75,649
-
Current portion of convertible loans
23
6,744
4,031
Liabilities directly associated with assets classified as held for sale
14
36,274
-
224,832
70,346
Total liabilities
425,762
241,083
Total equity and liabilities
935,755
998,026
The Financial Statements were approved by the board of directors and authorised for issue on 06 May 2014. They were signed on its behalf by:
Manssour Aboukhamseen
Chairman & Managing Director
