| |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONTINUED |
| for the year ended 30 June 2007 |
| |
All monetary amounts are expressed
in millions of Rands |
|
2007 |
Restated
2006 |
| 19. |
DEFERRED TAXATION (continued) |
|
|
|
| 19.3 |
Unused taxation losses |
|
|
|
| |
At the balance sheet date, the Group had unused taxation losses of R72 million
(2006: R236 million) available for offset against future profits. A deferred taxation
asset has been recognised in respect of R52 million (2006: R225 million) of such
losses. No deferred taxation asset has been recognised in respect of the remaining
R20 million (2006: R11 million) due to the unpredictability of future profit streams. |
|
|
| 20. |
TRADE AND OTHER PAYABLES |
|
|
|
|
Trade payables |
|
946,6 |
886,2 |
|
Accruals and other payables |
|
2 477,4 |
2 204,8 |
|
Payroll accruals |
|
339,3 |
278,7 |
|
Operating lease payables recognised on a straight-line basis |
|
2,4 |
21,6 |
| |
|
|
3 765,7 |
3 391,3 |
| |
The directors consider that the carrying amount of the trade and other payables approximate their fair value. |
|
|
| 21. |
SUB-CONTRACTOR LIABILITIES |
|
|
|
| |
Contracts in progress and contract receivables include claims against clients in
respect of sub-contractor liabilities. These liabilities are only settled when payment
has been received from clients. |
1 315,9 |
803,5 |
| 22. |
PROVISIONS FOR OBLIGATIONS |
Payroll |
Warranty |
Total |
|
Balance at 30 June 2005 |
86,0 |
1,1 |
87,1 |
|
Amounts utilised |
(82,2) |
(1,0) |
(83,2) |
|
Amounts reversed unused |
(3,8) |
(0,1) |
(3,9) |
|
Amounts raised |
136,9 |
0,4 |
137,3 |
|
Acquisition of businesses |
52,7 |
– |
52,7 |
| |
Exchange rate adjustment |
0,9 |
– |
0,9 |
|
Balance at 30 June 2006 |
190,5 |
0,4 |
190,9 |
|
Amounts utilised |
(82,9) |
(0,4) |
(83,3) |
|
Amounts reversed unused |
(6,5) |
– |
(6,5) |
|
Amounts raised |
147,1 |
1,0 |
148,1 |
|
Acquisition of businesses |
1,5 |
– |
1,5 |
| |
Disposal of business |
(5,9) |
– |
(5,9) |
|
Balance at 30 June 2007 |
243,8 |
1,0 |
244,8 |
| |
Less: Short-term portion of long-term provision (note 18) |
|
|
17,1 |
| |
|
|
|
261,9 |
| |
The payroll provisions relate to staff bonus and severance pay obligations. |
|
| |
| |
|
|
