•
The costs incurred for the transaction and the costs
to finalise the transaction can be reliably calculated.
When the outcome of the transaction involving
delivery can not be reliably calculated, the revenue is
recognised only in respect of the expenses recognised
that are recoverable.
Revenue is measured at the fair value of the
consideration received or receivable and represents
the receivables for goods and services in the ordinary
course of business provided, net of trade discounts and
quantity discounts and value added tax.
Interest is recognised in profit or loss using the effective
interest rate method. Dividends are recognised in profit
or loss when the entity’s right to receive payment is
established. Voluntary contributions, such as charges,
members fees, donations and grants for specific
projects are recognised when received. Rental
income received is recognised in the statement of
comprehensive income on a straight-line basis over the
lease term.
1.12 Borrowing costs
Borrowing costs that are directly attributable to the
acquisition, construction or production of a qualifying
asset are capitalised as part of the cost of that asset
until such time as the asset is ready for its intended use.
The amount of borrowing costs eligible for capitalisation
is determined as follows:
•
Actual borrowing costs on funds specifically
borrowed for the purpose of obtaining a qualifying
asset less any temporary investment of those
borrowings.
•
Weighted average of the borrowing costs
applicable to the entity on funds generally borrowed
for the purpose of obtaining a qualifying asset. The
borrowing costs capitalised do not exceed the total
borrowing costs incurred.
The capitalisation of borrowing costs commences
when:
•
expenditures for the asset have occurred;
•
borrowing costs have been incurred; and
•
activities that are necessary to prepare the asset for
its intended use or sale are in progress.
Capitalisation is suspended during extended periods in
which active development is interrupted.
Capitalisation ceases when substantially all the
activities necessary to prepare the qualifying asset for
its intended use or sale are complete.
All other borrowing costs are recognised as an expense
in the period in which they are incurred.
ander diverse bedryfsontvangstes. Wanneer die uitslag
van ‘n transaksie wat dienslewering behels, betroubaar
bereken kan word, word inkomste ten opsigte van die
transaksie erken met verwysing na die afhandelingsta-
dium van die transaksie op die balansstaatdatum. Die
uitslag van die transaksie kan betroubaar bereken word
wanneer al die volgende voorwaardes nagekom word:
•
Die inkomstebedrag betroubaar bereken kan word.
•
Die ekonomiese voordeel ten opsigte van die
transaksie na verwagting die entiteit sal toekom.
•
Die afhandelingstadium van die transaksie op die
balansstaatdatum betroubaar bereken kan word.
•
Die koste wat aangegaan is vir die transaksie en die
koste om die transaksie af te handel, betroubaar
bereken kan word.
Wanneer dieuitslagvandie transaksiewat dienslewering
behels, nie betroubaar bereken kan word nie, word
inkomste slegs erken ten opsigte van die erkende
uitgawes wat verhaalbaar is.
Inkomste word bereken teen die billike waarde van
die teenprestasie wat ontvang is of ontvangbaar
is en verteenwoordig die ontvangbare bedrae vir
goedere en dienste wat in die normale gang van
sake verskaf word, na aftrekking van handelskortings
en hoeveelheidskorting en belasting op toegevoegde
waarde.
Rente word in wins of verlies erken deur die effektiewe
rentekoersmetode te gebruik. Dividende word in wins en
verlies erken wanneer die entiteit se reg om die betaling
te ontvang, gevestig is. Vrywillige bydraes, byvoorbeeld
heffings; ledegeld, donasies en toekennings vir spesifieke
projekte word verantwoord wanneer dit ontvang word.
Huurinkomste verdien word erken in die staat van
omvattende inkomste op ‘n reguitlyn-grondslag oor die
termyn van die huurkontrak.
1.12 Leenkoste
Leenkoste wat regstreeks toeskryfbaar is aan die ver-
kryging, konstruksie of produksie van ‘n kwalifiserende
bate word as deel van die koste van daardie bate
gekapitaliseer totdat die bate gereed is vir die voorge-
nome gebruik daarvan. Die bedrag van die leenkoste
wat gekapitaliseer kan word, word soos volg bereken:
•
Werklike leenkoste op fondse wat spesifiek geleen
is met die doel om ‘n kwalifiserende bate te verkry,
minus enige tydelike belegging van dié lenings.
•
Die geweegde gemiddeld van die leenkoste wat
op die entiteit van toepassing is op fondse wat in
die algemeen geleen word met die doel om ‘n
kwalifiserende bate te verkry. Die gekapitaliseerde
leenkoste is nie meer as die totale leenkoste wat
aangegaan word nie.
Die kapitalisering van leenkoste neem ‘n aanvang
wanneer:
•
besteding vir die bate plaasgevind het;
•
leenkoste aangegaan is; en
1.13 Income tax
The income tax status of the Grain SA Group entities are
as follows:
In terms of the Income Tax Act, Grain SA is exempt from
income tax on its receipts, accruals and donations
received. NAMPO Geboue (Pty) Ltd is a taxpayer entity.
Current tax assets and liabilities
Current tax for current and prior periods is, to the extent
unpaid, recognised as a liability. If the amount already
paid in respect of current and prior periods exceeds the
amount due for those periods, the excess is recognised
as an asset.
Deferred tax assets and liabilities
A deferred tax liability is recognised for all taxable
temporary differences.
A deferred tax asset is recognised for all deductible
temporary differences and for the carry forward of
unused tax losses and unused tax credits. Deferred tax
assets and liabilities are measured at the tax rates that
are expected to apply to the period when the asset
is realised or the liability is settled, based on tax rates
(and tax laws) that have been enacted or substantively
enacted by the reporting date.
Tax expenses
Current tax and deferred taxes are charged or credited
directly to equity if the tax relates to items that are
credited or charged, in the same or different period,
directly to equity.
1.14 Consolidation policy
The consolidated annual financial statements include
the assets and liabilities of all entities and their results
for the period. The abovementioned are entities where
Grain SA has the power to govern or control the entity’s
financial and operating policies so as to obtain benefits
from its activities, and include:
- NAMPO Geboue (Pty) Ltd
Consolidation comprises the following:
- The consolidated annual financial statements
include the assets and liabilities of all entities and
their results for the period, from the date of effective
control.
- Intergroup balances such as loan accounts, debtors
and creditors are eliminated.
- Intergroup transactions are eliminated.
•
aktiwiteite wat nodig is om die bate vir die
voorgenome gebruik of verkoop daarvan voor te
berei, aan die gang is.
Kapitalisering word opgeskort vir lang tydperke
waartydens aktiewe ontwikkeling onderbreek is.
Kapitalisering eindig wanneer al die aktiwiteite wat
nodig is om die kwalifiserende bate vir die voorgenome
gebruik of verkoop daarvan, in wese afgehandel is.
Alle ander leenkoste word as ‘n uitgawe erken in die
tydperk waarin dit aangegaan word.
1.13 Inkomstebelasting
Graan SA Groep entiteite se belastingstatus is soos volg:
Graan SA is ingevolge die Inkomstebelastingwet vry
gestel van inkomstebelasting op ontvangstes, toeval-
lings en skenkings. NAMPO Geboue (Edms) Bpk is ‘n
belastingpligtige entiteit.
Lopendebelastingbates en -laste
Lopende belasting vir huidige en vorige tydperke word,
in soverre dit onbetaal is, as ‘n las erken. Indien die
bedrag wat reeds ten opsigte van huidige en vorige
tydperke erken is, meer is as die bedrag wat in die
tydperke betaalbaar is, word die surplus as ‘n bate
erken.
Uitgestelde belastingbates en -laste
‘n Uitgestelde belastinglas word vir alle belasbare
tydelike verskille erken.
‘n Uitgestelde belastingbate word vir alle aftrekbare
tydelike verskille erken en vir die vooruitbetaalde
of ongebruikte belastingverliese en ongebruikte
belastingkrediete. Uitgestelde belastingbates en
-laste word bereken teen die verwagte heersende
belastingkoers wanneer die bate gerealiseer word
of die aanspreeklikheid vereffen word, gegrond op
belastingkoerse (en belastingwette) wat teen die
verslagdoeningsdatum uitgevaardig is of in wese
uitgevaardig is.
Belastinguitgawes
Lopende belasting en uitgestelde belasting word
regstreeks teen ekwiteit gedebiteer of gekrediteer
indien die belasting betrekking het op items wat in
dieselfde of ‘n ander tydperk regstreeks teen ekwiteit
gekrediteer of gedebiteer word.
1.14 Konsolidasiebeleid
Die gekonsolideerde finansiële jaarstate sluit die bates
en laste van al die entiteite en hul resultate vir die
periode in. Bogenoemde is entiteite waaroor beheer
deur Graan SA oor die entiteite se bedryfs- en finansiële
beleid uitgeoefen kan word ten einde voordeel uit sy
aktiwiteite te trek, en sluit in:
- NAMPO Geboue (Edms) Bpk
Konsolidasie behels die volgende:
- Die gekonsolideerde finansiële jaarstate sluit die
bates en laste van al die entiteite en hul resultate vir
die periode, vandat beheer verkry is, in.
- Intergroepbalanse, soos onderlinge leningsreke
ninge, debiteure en krediteure word geëlimineer.
- Intergroeptransaksies word geëlimineer.
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
