AFRICAN DAWN ANNUAL REPORT 2017 Notes to the Financial Statements Annual Financial Statements For the year ended 28 February 2017 continued 72 29. Auditors’ remuneration Group Group Company Company 2017 2016 2017 2016 R’000 R’000 R’000 R’000 Fees 1,313 1,721 693 1,660 1,313 1,721 693 1,660 30. Cash used in operations Loss before taxation (12,820) ( 6,944) (6,650) (4,247) Adjustments for: Depreciation 282 394 59 54 Profit/(Loss) on disposal of property, plant and equipment 5 (13) - (3) Investment income (84) (346) (1) (256) Finance costs 2,403 2,080 401 - Fair value of contingent consideration - (2,095) - (2,095) Fair value of contingent consideration - (2,000) - (2,000) Impairment adjustment group loans - - 377 - Deemed interest on group loans - - (98) - Impairment goodwill – Non cash 3,397 - - - Non-cash finance costs (penalties and interest on income tax) 842 938 454 415 Reduction in liability – Non cash (refer to note 21) (2,162) - - - Amortisation (refer to note 5) 1,683 1,670 - - Deemed interest expense (refer to note 26) 585 552 - 92 Operating lease movement (23) 5 (23) 5 Impairment of properties in possession 971 3,283 - - Bad Debt write off - - - - Changes in working capital: Properties in possession 1,422 1,439 - - Trade and other receivables 4,204 3,853 (7) 989 Trade and other payables 3,819 736 2,915 (723) Deferred income - (474) - - Other financial assets 312 412 - - 4,836 3,490 (2,573) (7,769)
AFRICAN DAWN 2017
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