Notes To The Financial Statements 30 June 2015 8.2 DANIDA – JUDICIAL SERVICE COMMISSION SPECIFIC PROJECT BALANCE The Legal Resources Foundation (LRF ) entered into a tripartite agreement with The Royal Danish Embassy (RDEO) and Judicial Service Commission (JSC). The agreement was entered into for the contract period starting 1 July 2012 to 2016. Legal Resources Foundation was appointed as fund manager for the JSC project which is funded by RDEO. In prior years the funds held in trust by Legal Resources Foundation for this project ( the DANIDA – JSC project ) were erroneously recognised as part of cash and cash equivalents of Legal Resources Foundation with a corresponding liability under trade and other payables. This treatment was revised resulting in the DANIDA balance being held off balance sheet. The impact of this treatment on components of the statement of financial position is as follows: IMPACT ON BALANCE SHEET COMPONENTS Other payables Balance before restatement DANIDA-JSC specific fund balance 2014 US$ 2013 US$ 3 564 634 394 516 (3 369 618) (175 629) Restated balance Cash and cash equivalents Balance before restatements DANIDA-JSC specific fund balance 195 016 218 887 3 565 820 553 461 (3 369 618) (175 629) Restated balance 196 202 377 832 As at year end the balances held by Legal Resources Foundation on behalf of Judicial Service Commission and Royal Danish Embassy were as follows: Cash held in trust 2015 US$ 3 647 229 2014 US$ 2013 US$ 3 369 618 175 620 Legal Resources Foundation Annual Report 2015 55