CS/8008

RORET FARMERS CO-OPERATIVE SOCIETY LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER, 2023
Notes to the financial statements
Note. 2(a): Coffee Activity 2023 2022
Income KSHS KSHS
Sales of Coffee 25,298,958.18 22,242,507.23
TOTAL 25,298,958.18 22,242,507.23
2023 2022
Expenses KSHS KSHS
Milling Charges (1,637,599.19) (492,008.84)
Marketing Charges (699,348.68) (119,094.76)
Transport charges (625,680.46) (430,253.30)
Auction Charges (16,462.91) -
Wages casual labour (808,681.00) (683,585.00)
Wages,salaries to permanent staff (139,656.00) (65,076.00)
Fuel,oil,water,electricity (36,400.00) (53,700.00)
Processing materials (385,242.96) (437,548.18)
Other charges (10,000.00) (4,550.00)
Repair and maintainace (175,000.00) (421,330.61)
Printing and stationery (38,790.00) -
NSSF (92,680.00) -
Fertilizers - (20,900.00)
Warehouse charges - (9,637.45)
Travelling and Subsistence (118,755.00) (29,400.00)
Licenses - (2,200.00)
Total Expenses (4,784,296.20) (2,769,284.14)
Amount Realised 20,514,661.98 19,473,223.09
Less: Payments to producers (19,400,000.00) (18,132,576.00)
Balance to surplus/Deficit a/c 1,114,661.98 1,340,647.09

Note 2(b):Mbuni Activity 2023 2022

Income KSHS KSHS
Sale of Mbuni 4,653,712.42 2,889,993.00
TOTAL 4,653,712.42 2,889,993.00
Expenses
Milling Charges - (41,820.75)
Marketing Charges - (10,123.05)
Transport charges - (36,571.53)
Wages casual labour - (58,104.73)
Wages,salaries to permanent staff - (5,531.46)
Fuel,oil,water,electricity - (4,564.50)
Processing materials - (37,191.60)
Other charges - (386.75)
Repair and maintainace - (35,813.10)
NSSF - (425.30)
Licence - (1,000.00)
Printing and stationery - -
Total Expenses - (231,532.77)
Amount Realised 4,653,712.42 2,658,460.23
Less: Payments to producers (4,188,340.00) (2,600,994.00)
Balance to Surplus /Deficit a/c 465,372.42 57,466.23

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CS/8008
RORET FARMERS CO-OPERATIVE SOCIETY LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER, 2023
Notes to the financial statements
Note. 3: Nursery activity 2023 2022
Income KSHS KSHS
Seedling activity 140,000.00 87,283.00
TOTAL 140,000.00 87,283.00
2023 2022
Expenses(Nursery Activity) KSHS KSHS
Purchase of Coffee Seeds (15,000.00) (30,000.00)
Processing materials(bags and containers) - (2,100.00)
Repair and maintainance (8,000.00) -
Casual Labour (35,800.00) (1,000.00)
Transport - (2,000.00)
Total Expenses (58,800.00) (35,100.00)

Balance to surplus/Deficit a/c 81,200.00 52,183.00

Note.4: Other income 2018 2022

KSHS KSHS
Sundry income 75,248.00 17,082.00
Dividends 89,747.65 40,602.40
Entrance Fees 19,250.00 -
Rental Income 13,000.00
Total 197,245.65 57,684.40

Note.5: Staff expenses 2023 2022

KSHS KSHS
Salaries (389,180.00) (332,750.00)
Travelling and subs (92,583.85) (128,058.00)
NSSF (35,000.00) (35,000.00)
Other Staff Expenses (33,400.00) (24,000.00)
Education Staff (48,500.00) -
Total expenses (598,663.85) (519,808.00)

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CS/8008
RORET FARMERS CO-OPERATIVE SOCIETY LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER, 2023
Notes to the financial statements
Note.6:Committee expenses 2023 2022
KSHS KSHS
Comm.sitting allowance (177,200.00) (262,700.00)
Other committee allownces (51,000.00) (200,000.00)
Committee travelling and subs (278,714.65) (186,000.00)
Education supervisory (24,000.00) (35,000.00)
Supervisory travelling allowances (40,311.50) (16,420.00)
Supervisory sitting allowances (49,000.00) (68,100.00)
Total expenses (620,226.15) (768,220.00)

2023 2022
Note.7:Members expenses KSHS KSHS
Education (228,000.00) (143,800.00)
Total expenses (228,000.00) (143,800.00)

2023 2022
Note.8:Financial expenses KSHS KSHS
Bank charges (49,882.98) (71,981.89)
Honoraria (160,000.00) -
Depreciation (240,063.26) (291,446.92)
County co-operative fee (6,000.00) (6,000.00)
Audit fee (3,000.00) (3,000.00)
Supervisory fee (300.00) (300.00)
Recoverable fee (200.00) (200.00)
Bank interest (205,603.30) (125,263.00)
Total expenses (665,049.54) (498,191.81)

2023 2022
Note.9:Administrative expenses KSHS KSHS
Printing & Stationery (64,523.00) (61,820.00)
Casual labour (205,138.00) (117,054.00)
Transport (68,749.90) (2,000.00)
Repair & maintenence (19,000.00) (71,710.00)
Sundry Expenses (10,000.00) (1,400.00)
Entertainment (28,100.00) (15,000.00)
Postage & telephone (13,700.00) (45,900.00)
Legal fees (46,830.00) (45,900.00)
NEMA (38,200.00) (38,000.00)
NHIF (47,100.00) -
NTSA - (2,000.00)
KRA (5,000.00) (5,000.00)
Book Keeping (35,000.00) (35,000.00)
Public Relation and Advertising (2,000.00) (10,000.00)
Fuel ,Oil and Electricity (5,000.00) (6,000.00)
Security (1,000.00) (1,000.00)
Total Expenses (589,340.90) (457,784.00)

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CS/8008
RORET FARMERS CO-OPERATIVE SOCIETY LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER, 2023
Notes to the financial statements 2023 2022
Note. 10: Investment Property KSHS KSHS
Share in Bureti Sacco 4,500.00 4,500.00
Share in KESCOGA 10,000.00 10,000.00
Shares in Kenya farmers bankers 52,000.00 52,000.00
Shares in Kipsigis F.C.S LTD 17,500.00 17,500.00
Shares in Kipkelion mills A 405,000.00 405,000.00
Shares in Kipkelion mills B 793,225.00 793,225.00
Shares in Kenya farmersCo-op Union 10,000.00 10,000.00
TOTAL 1,292,225.00 1,292,225.00

2023 2022
Note.11: Debtors Members(Advance) KSHS KSHS
Bal b/f 179,113.55 114,982.73
Granted during the year 158,000.50 1,550,731.76
Repayments (179,113.55) (1,486,600.94)
TOTAL 158,000.50 179,113.55
2023 2022
Note.12: Debtors Non Members(Advance) KSHS KSHS
Tebesonik Fcs 886,620.00 -
SMS - -
TOTAL 886,620.00 -
Note.13: Staff advances 2023 2022
KSHS KSHS
At the start of the year 46,600.00 31,600.00
Granted During the Year - 15,000.00
Repayment during the year (10,485.00) -
TOTAL 36,115.00 46,600.00

Note.14: Cash and cash equivalents 2023 2022

KSHS KSHS
Cash in Bank Coop Bank S/A ac. 838.77 81,524.71
Cash in Bank Co-op Bank 209,385.50 -
Cash in hand (276,301.37) -
Patnas Sacco 1,642,629.03 745,460.69
TOTAL 1,576,551.93 826,985.40

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CS/8008
RORET FARMERS CO-OPERATIVE SOCIETY LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER, 2023
Notes to the financial statements

Note.15: Payment due to members 2023 2022

KSHS KSHS
At the start of the year 3,665,495.12 2,397,599.58
Dues during the year 6,554,683.14 2,966,527.17
Payments during the year (3,665,495.12) (1,698,631.63)
TOTAL 6,554,683.14 3,665,495.12

Note. 16: Sundry Creditors 2023 2022

KSHS KSHS
NSSF (293,373.00) 35,577.00
Roret tinsmith 587,000.00 587,000.00
Patnas Sacco 2,122,446.38 2,122,446.38
Robert Rono 50,000.00 100,000.00
NHIF 5,000.00 -
KODF - 1,322,106.47
TOTAL 2,471,073.38 4,167,129.85

Note. 17:Arrears and Accruals 2023 2022

KSHS KSHS
At the Start of the year 416,838.95 698,967.95
Dues during the year 105,433.00 416,838.95
payment during the year (416,838.95) (698,967.95)
TOTAL 105,433.00 416,838.95
Note. 18: Audit fees 2023 2022
KSHS KSHS
County co-operative fee 6,000.00 6,000.00
Audit fee 3,000.00 3,000.00
supervision fee 300.00 300.00
Recoverable expenses 200.00 200.00
TOTAL 9,500.00 9,500.00

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CS/8008
RORET FARMERS CO-OPERATIVE SOCIETY LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER, 2023
Notes to the financial statements
Note. 19:Loan and advances to members 2023 2022
KSHS KSHS
At the Beginning of the year 277,512.87 277,512.87
Additions During the Year - -
Repayment During the Year - -
TOTAL 277,512.87 277,512.87

Note.20: Short term loan- Coop bank 2023 2022

KSHS KSHS
At the Beginning of the year 2,000,000.00 2,836,240.45
Additions During the Year 1,300,000.00 -
Repayment During the year - (836,240.45)
TOTAL 3,300,000.00 2,000,000.00
Note.21: Savings 2023 2022
KSHS KSHS
At the Beginning of the year 1,211.00 1,211.00
Additions During the Year - -
Repayment During the year - -
TOTAL 1,211.00 1,211.00

Note.22 :Share capital 2023 2022

KSHS KSHS
Balance b/f 1,355,337.00 1,355,337.00
Contributions 34,000.00 -
TOTAL 1,389,337.00 1,355,337.00
2023 2022
Note.23 :Reserves KSHS KSHS
Statutory reserve 343,095.42 343,095.42
Revenue reserve (8,412,247.58) (7,569,447.19)
General reserve 2,175,000.00 2,175,000.00
TOTAL (5,894,152.16) (5,051,351.77)

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