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AFRICAN DAWN ANNUAL REPORT 2020

Notes to the Financial Statements continued
Annual Financial Statements For the year ended 29 February 2020

24. Cash used in operations

Group Company

2020 2019 2020 2019
R'000 R'000 R'000 R'000
Loss before taxation (10,345) (9,383) (9,922) (3,923)
Adjustments for:
Depreciation 727 59 10 21
Investment income (4) (4) - (1)
Finance costs 1,201 1,505 126 580
Loss on sale of subsidiary - refer to note 9 - 181 - -
Non-cash Impairment adjustment Group loans - - - 4,446 (693)
refer to note 7
Non-cash Impairment of investments - - 1,555 -
Non-cash Put option exercised setoff - - 330 -
Non-cash amortisation (refer to note 4) 114 165 - -
Non-cash deemed interest expense - (152) - -
Non-cash operating lease movement - (60) - -
Non-cash movement in deferred income 196 - - -
Non-cash impairment of debtors loss allowance 1,052 1,249 - -
Non-cash settlement of debtors 721 1,157 - -
Changes in working capital:
Trade and other receivables IFRS 9 prior year adjustment - 1,130 - -
Trade and other receivables 912 2,452 1 960
Trade and other payables 566 141 680 305
(4,860) (1,560) (2,774) (2,751)

Cashflow from financing activities

Borowings Borowings Directors
2020 Group R'000 non-current current loans Leases Total
Opening balance 431 6,774 2,820 - 10,025
Cash movements 4,600 (1,685) 703 (670) 2,948
Borrowings repaid - (3,311) (505) (670) (4,486)
Advances on existing - 646 1,208 - 1,854
Advances new current 4,600 980 - - 5,580
Total cash movements
Non-cash movements (431) 72 (2,897) 2,579 (677)
Transfer of borrowings to current (431) 431 - - -
Implimentation of IFRS16 - - - 2,354 2,354
finance costs - 38 49 225 312
Put option execcised* - (397) (2,946) - (3,343)
Closing balance 4,600 5,161 626 1,909 12,296

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