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 cashflows 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.
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.
word bereken deur gekwoteerde vooruitwisselkoerse op
die verslagdoeningsdatum te gebruik.
Daar word geag dat die drawaarde minus waarde-
dalingsvoorsiening van debiteure en handels kredi-
teure bykans hul billike waarde is. Die billike waarde
van finansiële aanspreeklikhede vir openbaarma-
kingdoeleindes word beraam deur die toekomstige
kontraktuele kontantvloei te verdiskonteer teen die
huidige markrentekoers wat vir soortgelyke finansiële
instrumente aan die entiteit beskikbaar is.
1.2 Voorsienings
Voorsienings is gemaak en die bestuur het op grond
van die beskikbare inligting ‘n raming 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 in die drabedrag van ‘n
item eiendom, 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%
Die reswaarde, nutsduur en depresiasiemetode
vanelke bate word aan die einde van elke
Notes to the summary consoli-
dated financial statements
for the year ended 30 september 2015
Aantekeninge tot die opgesomde
gekonsolideerde finansiële state
vir die jaar geËindig 30 september 2015
FINANCIAL STATEMENTS
FINANSIËLE STATE
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 cashflows 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.
verslagdoeningstydperk nagesien. Indien die
verwagting van vorige ramings verskil, word die
verandering as ‘n verandering 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 ver
anderings 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 on
verhaalbare bedrae word in wins of verlies erken wan
neer 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.
Handelskrediteure word as finansiële laste geklassifiseer
en gemeet teen geamortiseerde koste.
Notes to the summary consoli-
dated financial statements
for the year ended 30 september 2015
Aantekeninge tot die opgesomde
gekonsolideerde finansiële state
vir die jaar geËindig 30 september 2015
84
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