2.4 Working Capital 3.0 Management letter 140. Botswana Investment and Trade Centre  2.0 Accounts 2.1 Audit Opinion 2.2 Financial Results The working capital position of the University as at 31 March 2018  showed total current assets of P37.98 million and total current  liabilities of P138.36 million, resulting in a net current liabilities  position of P100.39 million.  The current liabilities included provision for gratuities and leave  pay of P60.27 million and deferred income of P12.07 million.  The auditors had issued a management letter and the matters  raised dealt with accounting procedures and internal controls  which were only of interest to management, hence did not  warrant mention in this report.  The financial statements of the Botswana Investment and Trade Centre  for the financial year ended 31 March 2018 were audited by Messrs  PricewaterhouseCoopers, Certified Auditors, who were appointed by  the Board. In the opinion of the auditors:  The consolidated financial statements presented fairly, in all  material respects, the consolidated financial position of the  Botswana Investment and Trade Centre and its subsidiary for the  year ended 31 March 2018, and of its consolidated financial  performance and its consolidated cash flows for the year then  ended, in accordance with International Financial Reporting  Standards.  In the year under review, the Centre recorded a profit of P15.79  million, compared to a deficit of P20.78 million recorded in the  previous year. The improvement in performance was mainly  attributable to a gain in fair value adjustment in investment  property of P4.24 million, compared to a loss of P29.31 million in  the previous period.  137 