It is considered that the carrying value less impairment
of trade receivables and trade payables equal their fair
value. The fair value of financial liabilities for disclosure
purposes is estimated by discounting the future
contractual cash flows at the current market interest
rate that is available to the entity for similar financial
instruments.
1.2 Provisions
Provisions are made by management on the basis of
available information.
1.3 Property, plant and equipment
The cost of an item of property, plant and equipment is
recognised as an asset when:
•
it is probable that future economic benefits
associated with the item will flow to the entity; and
•
the cost of the item can be measured reliably.
Property, plant and equipment is initially measured at
cost.
Costs include costs incurred initially to acquire or
construct an item of property, plant and equipment
and costs incurred subsequently to add to, replace part
of, or service it. If a replacement cost is recognised in
the carrying amount of an item of property, plant and
equipment, the carrying amount of the replaced part
is derecognised. All other repairs and maintenance are
charged to the statement of comprehensive income
during the financial period in which they are incurred.
The initial estimate of the costs of dismantling and
removing the item and restoring the site on which it is
located is also included in the cost of property, plant
and equipment.
Property, plant and equipment is carried at cost less
accumulated depreciation and any impairment losses.
The depreciation rate of items of property, plant and
equipment have been assessed as follows:
Item
Average
depreciation rate
Land and buildings
0% - 10%
Plant and machinery
20%
Furniture and fixtures
20%
Motor vehicles
20%
Office equipment
20%
Computer equipment
20%
Restaurant equipment
20%
Catering and other
equipment
20%
Computer software
33%
The residual value, useful life and depreciation method
of each asset is reviewed, and adjusted if appropriate,
at the end of each reporting period. If the expectations
differ from previous estimates, the change is accounted
for as a change in accounting estimate.
word bereken deur gekwoteerde vooruitwisselkoerse
op die verslagdoeningsdatum te gebruik.
Daar word geag dat die drawaarde minus waarde
dalingsvoorsiening van debiteure en handelskrediteure
bykans hul billike waarde is. Die billike waarde van finan-
siële aanspreeklikhede vir openbaarmakingsdoeleindes
word beraam deur die toekomstige kontraktuele kon-
tantvloei te verdiskonteer teen die huidige markren-
tekoers wat vir soortgelyke finansiële instrumente aan
die entiteit beskikbaar is.
1.2 Voorsienings
Voorsienings is op grond van die beskikbare inligting
deur bestuur gedoen.
1.3 Eiendom, aanleg en toerusting
Die koste van eiendom, aanleg en toerusting word as ‘n
bate erken wanneer:
•
dit waarskynlik is dat toekomstige ekonomiese
voordeel verbonde aan die items die entiteit sal
toekom; en
•
die koste van die item betroubaar bepaal kan word.
Eiendom, aanleg en toerusting word aanvanklik teen
kosprys erken.
Koste sluit in koste wat aanvanklik aangegaan is om ‘n
item van eiendom, aanleg en toerusting te verkry of op
te rig en koste wat daarna aangegaan is om aan te
bou, ‘n deel daarvan te vervang of dit te diens. Indien ‘n
vervangingskoste indiedrabedragvan ‘n itemeiendom,
aanleg en toerusting erken word, word die drabedrag
van die vervangingskoste omgeswaai. Alle ander
herstel en instandhoudingskostes word in die staat van
omvattende inkomste erken gedurende die finansiële
periode waarin die uitgawe aangegaan is.
Die aanvanklike raming van die koste om die items af te
breek en te verwyder en die perseel waarop dit geleë
is te herstel, word ook by die koste van masjinerie en
toerusting ingesluit.
Eiendom, aanleg en toerusting word teen kosprys
minus opgehoopte depresiasie en enige waarde
dalingsverliese gedra.
Die depresiasiekoers van eiendom, aanleg en toerusting
is soos volg:
Item
Gemiddelde
depresiasiekoers
Grond en geboue
0% - 10%
Aanleg en masjinerie
20%
Meubels en vaste
toebehore
20%
Motorvoertuie
20%
Kantoortoerusting
20%
Rekenaartoerusting
20%
Restauranttoerusting
20%
Spysenierings- en ander
toerusting
20%
Rekenaarsagteware
33%
Each part of an item of property, plant and equipment
with a cost that is significant in relation to the total cost
of the item is depreciated separately.
The depreciation charge for each period is recognised
in profit or loss unless it is included in the carrying amount
of another asset.
The gain or loss arising from derecognition of an item
of property, plant and equipment is included in profit
or loss when the item is derecognised. The gain or
loss arising from derecognition of an item of property,
plant and equipment is determined as the difference
between the net disposal proceeds, if any, and the
carrying amount of the item. An asset’s carrying amount
is written down immediately to its recoverable amount if
the asset’s carrying amount is greater than its estimated
recoverable amount.
1.4 Investments in subsidiaries
In the entity’s separate financial statements, investments
in subsidiaries are carried at fair value, with changes in
fair value recognised in profit and loss.
1.5 Financial instruments
Trade receivables
Trade receivables are measured at initial recognition
at fair value, and are subsequently measured at
amortised cost using the effective interest rate method.
Appropriate allowances for estimated irrecoverable
amounts are recognised in profit or loss when there is
objective evidence that the asset is impaired. Significant
financial difficulties of the debtor, probability that the
debtor will enter bankruptcy or financial reorganisation,
and default or delinquency in payments are considered
indicators that the trade receivable is impaired. The
allowance recognised is measured as the difference
between the asset’s carrying amount and the present
value of estimated future cash flows discounted at the
effective interest rate computed at initial recognition.
The carrying amount of the asset is reduced through
the use of an allowance account, and the amount of
the loss is recognised in profit or loss within operating
expenses. When a trade receivable is uncollectable,
it is written off against the allowance account for
trade receivables. Subsequent recoveries of amounts
previously written off are recognised in other income.
Trade receivables are classified as financial assets that
are debt instruments measured at amortised cost.
Trade payables
Trade payables are initially measured at fair value, and
are subsequently measured at amortised cost, using the
effective interest rate method.
Trade payables are classified as financial liabilities
measured at amortised cost.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and
demand deposits, and other short-term highly liquid
investments that are readily convertible to a known
amount of cash and are subject to an insignificant risk
of changes in value. These are initially and subsequently
recorded at fair value.
Die reswaarde, nutsduur en depresiasiemetode van
elke bate word aan die einde van elke verslagdoe
ningstydperk nagesien. Indiendieverwagtingvan vorige
ramings verskil, word die verandering as ‘n verande
ring in rekeningkundige raming in berekening gebring.
Elke deel van ‘n item van eiendom, aanleg met ‘n koste
wat in verhouding tot die totale koste van die item
beduidend is, word afsonderlik gedepresieer.
Die depresiasiekoste vir elke tydperk word in wins of
verlies erken tensy dit by die drabedrag van ‘n ander
bate ingesluit is.
Die wins of verlies voortspruitend uit die verkoop van ‘n
item van eiendom, aanleg en toerusting word by wins
of verlies ingesluit wanneer die item verkoop word. Die
wins of verlies voortspruitend uit die verkoop van ‘n item
van eiendom, aanleg en toerusting word bereken as die
verskil tussen die netto opbrengs ontvang, indien enige,
en die drabedrag van die item. ’n Bate se drabedrag
word dadelik afgeskryf tot en met sy verhaalbare
bedrag wanneer die bate se drabedrag groter is as die
beraamde verhaalbare bedrag.
1.4 Beleggings in filiale
In die entiteit se afsonderlike finansiële jaarstate word
beleggings in filiale gedra teen billike waarde, en
veranderings in billike waarde word in wins en verlies
erken.
1.5 Finansiële instrumente
Handelsdebiteure
Handelsdebiteure word met aanvanklike erkenning
teen billike waarde en daarna teen die geamortiseerde
koste bereken deur die effektiewe rentekoersmetode
te gebruik. Toepaslike voorsiening vir beraamde
onverhaalbare bedrae word in wins of verlies erken
wanneer daar objektiewe bewys is dat die bate
oninbaar is. Beduidende finansiële probleme van
die debiteur, die waarskynlikheid dat die debiteur
bankrot verklaar sal word of finansiële herorganisasie
sal ondergaan en wanbetaling of agterstalligheid
van betalings, word as aanduiders beskou dat die
handelsdebiteure aan waardedaling onderhewig
is. Die erkende voorsienings word bereken as die
verskil tussen die bate se drabedrag en die huidige
waarde van die beraamde toekomstige kontantvloei,
verdiskonteer teen die effektiewe rentekoersmetode
met aanvanklike erkenning.
Die drabedrag van die bate word verminder deur die
gebruik van ‘n voorsieningsrekening en die bedrag van
die verlies word in die wins of verlies in bedryfskoste
erken. Wanneer ‘n handelsdebiteur oninvorderbaar
is, word dit afgeskryf teen die voorsieningsrekening vir
handelsdebiteure. Bedrae wat voorheen afgeskryf is en
daarna ingevorder word, word in ander inkomste erken.
Handelsdebiteure word as finansiële bates, wat ‘n
skuldinstrument is, geklassifiseer en gemeet teen
geamortiseerde koste.
Handelskrediteure
Handelskrediteure word aanvanklik teen billike waarde
en daarna teen geamortiseerde koste bereken deur
die effektiewe rentekoersmetode te gebruik.
for the year ended 30 September 2014
Aantekeninge tot die
gekonsolideerde finansiële state
vir die jaar geëindig 30 September 2014
>>
>>
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Financial statements
Finansiële state
