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 con
sideration 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 bor
rowed for the purpose of obtaining a qualifying
asset less any temporary investment of those
borrowings.
►
Weighted average of the borrowing costs appli
cable 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 acti
vities 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.
betroubaar bereken word wanneer al die volgende
voorwaardes nagekom word:
►
die inkomstebedrag kan betroubaar bereken word;
►
die ekonomiese voordeel ten opsigte van die
transaksie sal na verwagting die entiteit toekom;
►
die afhandelingstadium van die transaksie op die
balansstaatdatum betroubaar bereken kan word; en
►
die koste wat aangegaan is vir die transaksie en die
koste om die transaksie af te handel, betroubaar
bereken kan word.
Wanneer die uitslag van die transaksie wat diens
lewering 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 handels
kortings 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 reguitlyngrondslag oor
die termyn van die huurkontrak.
1.12 Leenkoste
Leenkoste wat regstreeks toeskryfbaar is aan die
verkryging, konstruksie of produksie van ‘n kwalifise
rende bate word as deel van die koste van daardie
bate gekapitaliseer totdat die bate gereed is vir die
voorgenome 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
► aktiwiteite wat nodig is om die bate vir die
voorgenome gebruik of verkoop daarvan voor te
berei, aan die gang is.
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
1.13 Income tax
The income tax status of the Grain SA Group entities is
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 SA9 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.
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 belastingplig-
tige 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.
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. Die 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 leningsrekeninge,
debiteure en krediteure word geëlimineer.
► Intergroeptransaksies word geëlimineer.
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
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