AFRICAN DAWN ANNUAL REPORT 2017 Notes to the Financial Statements Annual Financial Statements For the year ended 28 February 2017 continued 2017 2016 2017 2016 R’000 R’000 R’000 R’000 Current assets - - 25,216 26,723 Current liabilities - - (6,927) (6,929) 62 - - 18,289 19,794 Loans to group companies impaired As of 28 February 2017, loans to group companies of R76,293 million (2016: R 77,521 million) were impaired and provided for. The amount of the impairment was R49,717 million as of 28 February 2017 (2016: R 49,340 million). 11. Trade and other receivables Trade receivables 50,672 53,865 - - Impairment allowance (20,602) (18,934) - - Deemed interest on trade debtor (585) - - - Deposits 267 293 31 31 VAT - 145 - - Other receivables 1,441 612 83 76 31,193 35,981 114 107 Refer to note 35 for a detailed analysis of the trade receivables. Certain trade receivables are used as security on related borrowings from the National Housing Finance Corporation (“NHFCE”). Refer to note 15. 12. Current tax receivable/(payable) Current tax receivable - - - - Current tax payable (16,280) (15,054) (8,673) (8,220) (16,280) (15,054) (8,673) (8,220) The current relationship with SARS is constructive and conducive to an amicable outcome. A liability has been recognised in full for all interest and penalties that are payable to SARS. Refer to note 27 which includes R0,842 million (2016: R0,938 million) relating to the interest and penalties.
AFRICAN DAWN 2017
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