AFRICAN DAWN ANNUAL REPORT 2017 Notes to the Financial Statements Annual Financial Statements For the year ended 28 February 2017 continued 81 Collateral The following collateral is held as security: 2017 2016 Group ‘000 Carry amount Security held Carrying amount Security held Trade receivables for which collateral is held 8,690 8,208 6,199 5,971 The company did not hold any collateral in 2017 or 2016. Amount of impairment for each class of financial asset: Group R’000 Amount of impairment 2017 Security held 2016 Trade and receivables (refer to note 11) 20,602 18,934 20,602 18,934 Company R’000 Amount of impairment 2017 Security held 2016 Loans to group companies (refer to note 10 for reconciliation) 49,717 49,340 49,717 49,340 Trade and other receivables - impairment reconciliation Group 2017 2016 R’000 R’000 Opening balance 18,934 66,489 Plus additional impairment provisions 4,442 1,906 Less actual write off (2,774) (49,055) Elite 2 debtors impairment/Nexus disposal - (406) 20,602 18,934 The company does not have a provision for impairment. Analysis of financial assets that are neither past due nor impaired: Group 2017 R’000 Current 30-60 days 60-90 days 90 + days Trade receivables 11,592 42 708 9,158 Group 2016 R’000 Current 30-60 days 60-90 days 90 + days Trade receivables 15,279 200 - -
AFRICAN DAWN 2017
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