1086. Other receivableNon-current other receivable consists of VAT recoverable as a result of expenditures incurred in Russia. The receivables will be recovered between 2 and 5 years following production and sales of oil, gas and condensate from YGE's Koshekhablskoye gas field.7. InvestmentsThe net book value of unlisted investments comprises: 2011 2010 $000 $000Cost At 1 January and 31 December 5,6175,617Accumulated impairment At 1 January and 31 December 5,6175,617Carrying amount At 31 December --Full provision was made against investments in 2007 which comprise an investment in a Ukrainian oil and gas company. At the end of 2007 there were no clear development plans relating to the investment and this continues to be the position at 31 December 2011. The investment reflects a 10% holding of the Company's ordinary share capital. 8. Inventories 2011 2010 $000 $000Warehouse stocks and materials 1,182 841Oil and gas stocks 2,487 1,5023,669 2,3439. Trade and other receivables 2011 2010 $000 $000Trade receivables 6,714 8,024Other receivables 4,745 8,035VAT receivable 7,314 6,849Prepayments 2,632 1,48821,40524,396As of 31 December 2011, there were no trade receivables which were impaired (2010: nil). At this date there were no trade receivables past due (2010: nil). Included within Other receivables is an amount of $3.4m (2010: $5.2m) relating to the Group's share of a receivable of HHE North Kft (HHN) that is unsecured, bears interest based on LIBOR plus a mark up and is expected to be repaid within 12 months of the reporting date. The Group's Russian subsidiary had total VAT receivable of $29.7m as of the reporting date of which $5.5m has been classified as a current receivable as recovery is expected within 12 months of the reporting date. The remaining receivable of $24.2m has been classified as non-current (see note 6).There is no difference between the carrying value of trade and other receivables and their fair value.Group financial statementsNotes to the financial statements continued
JKX Oil & Gas plc Annual Report 2011109At a glance01-17Board statements18-23Operational review24-36Financial review37-47CSR review48-61Directors' reports62-83Financial statements84-136The carrying amounts of the Group's trade and other receivables are denominated in the following currencies: 2011 2010 $000 $000US Dollar 5,418 4,427Sterling 575 758Euros 5,744 12,821Hungarian Forints 12 2,521Ukrainian Hryvnia 3,649 3,374Russian Roubles 6,007 49521,40524,39610. Cash and cash equivalents 2011 2010 $000 $000Cash 17,817 4,967Short term deposits 1,305 57,051Cash and cash equivalents 19,122 62,018Restricted cash 9,777 _Total 28,89962,018Short term deposits comprise amounts which are held on deposit, but are readily convertible to cash.Restricted cashRestricted cash comprises two elements:- pursuant to the pre-paid swap transaction (see note 12), the Group holds $9.5m (2010: $nil) in an account at Barclays Bank PLC, which is treated as restricted cash as this account is not under the exclusive control of the Group and the Group does not have immediate direct access to the funds;- $0.3m (31 December 2010: $0.5m) of the cash held in Hungary at K & H Bank Zrt was restricted as under the Hungarian Mining Act the Group is required to deposit cash to cover compensation for any mine damage and the costs of recultivation, including environmental damage of the waste management facilities.11. Trade and other payables 2011 2010 $000 $000Trade payables 18,329 19,684Other payables 8,541 12,455Other taxes and social security costs 1,246 968VAT payable 3,789 3,973Deferred consideration relating to the acquisition of Yuzhgazenergie LLC (note below) - 2,000 Accruals 12,604 19,25244,50958,332During the year $2.2m (2010: $3.0m) was paid to Mostotal as part of the deferred consideration for the acquisition of the Group's Russian subsidiary, Yuzhgazenergie LLC. At 31 December 2011 the remaining deferred consideration is nil (2010: $2.0m).Included within other payables is an amount of $4.0m (2010: $5.8m) relating to the Group's share of a payable of HHE North Kft (HHN) and Horizon Nyirseg Kft that is unsecured, bears interest based on LIBOR plus a mark up and is expected to be repaid within 12 months of the reporting date.