AFRICAN DAWN ANNUAL REPORT 2019 Notes to the Financial Statements continued Annual Financial Statements For the year ended 28 February 2019 78 2018 Group R'000 Borowings non-current Borowings current Directors loans Total Opening balance 6,316 9,475 1,523 17,314 Cash movements (207) (7,294) (838) (8,339) Borrowings repaid (207) (2,951) (1,523) (4,681) Borrowings repaid discontinued - (6,164) - (6,164) Advances on existing - 1,801 685 2,486 Advances new current - 20 - 20 Non-cash movements (2,078) 2,078 - - Transfer of borrowings to current (2,078) 2,078 - - Closing balance 4,031 4,259 685 8,975 2018 Company R'000 Loans from group companies Directors loans Total Opening balance 6,927 1,523 8,450 Cash movements (1,140) (838) (1,978) Borrowings repaid current (1,140) (1,523) (2,663) Advances on existing current - 685 685 Non-cash movements (3,441) - (3,441) Transfer to loan to group companies 244 - 244 Loan written off (3,685) - (3,685) Closing balance 2,346 685 3,031 30. Tax paid Group Group Company Company 2019 2018 2019 2018 R’000 R’000 R’000 R’000 Balance at beginning of the year (5,705) (16,280) (3,312) (8,673) Current tax for the year recognised in profit or loss discontinued - (181) - - Current tax recognized for prior year profit or loss continued - - - - Current tax recognized for prior year profit or loss continued (10) 4 - - Adjustment in respect of penalties and interest raised 53 (15) - - SARS liability settlement reduction reversal penalties and interest - 7,757 - 4,319 Balance at end of the year - 5,705 - 3,312 (5,662) (3,010) (3,312) (1,042)
AFDAWN AR FINAL 2019
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