NOTES TO FINANCIAL STATEMENT
Cash and cash equivalents
| 2020 | 2019 | |
| AED | AED | |
| Cash on hand | 5,000 | 5,000 |
| Cash at banks – current accounts (i) | 3,763,352 | 14,135,786 |
| Cash at bank – call account (i) | 44,858,472 | 40,049,976 |
| Fixed deposits (ii) |
40,000,000 |
20,773,463 |
| Cash and bank balances | 88,626,824 | 74,964,225 |
| Less: fixed deposits with an original maturity of more than three months | 16,000,000 |
– |
| Cash and cash equivalents |
72,626,824 |
74,964,225 |
- Cash at banks includes current accounts and call account balances amounting to AED 7,974,917 as of 31 December 2020 held with two financial institutions which are related parties (call account balances are interest bearing) (31 December 2019: AED 22,150,642).
- Bank fixed deposits as at 31 December 2020 amounting to AED 40,000,000 (31 December 2019: AED 20,773,463) carry interest rate of 1.8% p.a. to 3.25% p.a. (31 December 2019: 3.5% p.a.).
