Page 92 - Safaricom Foundation Annual Report 2020-2021

10 Other financial assets
Other financial financial assets
assets
are comprised of treasury bills held by the the the the Foundation The movement fin in fin in other financial financial assets
assets
during the the the the year was as as as as as shown below:
2021
Shs
187 826 693
19 227 399
(212 700 000)
5 5 645 908
-
-
At start of year Purchases
Proceeds from disposals Gain on maturity Accrued interest
At end of year 11 Related party transactions
2020 Shs
54 537 089 364 377 177 (242 100 000)
8 315 491 2 696 936
187 826 693
The Foundation was founded by Safaricom PLC It is related to other companies through common control In accordance with the the Trust Deed Safaricom PLC bears all expenses of the Foundation The following transactions
were carried out with related parties:
i) Expenses paid by Safaricom PLC Expenses paid by Safaricom PLC on on behalf of the Foundation* 70 758 161 96 061 529
In 2020 accruals of Kshs Kshs 4 203 369 booked in the the prior year were reversed Net expense for the the period was Kshs Kshs 91 858 160 (Note 5)
ii) Donations received
574 565 725
19 590 375
594 156 100 Safaricom PLC 606 061 529
Vodafone Foundation 21
100 816
627 162 345
There are no subsequent events that that have occurred after the the reporting period that that require adjustments or or disclosures in in fin the the financial statements for the year ended 31 March 2021
89 Safaricom Foundation Annual Report