140945 Limpopo Gambling Board AR DRAFT 7

LIMPOPO GAMBLING BOARD Annual Financial Statements for the year ended 31 March 2022 Notes to the Annual Financial Statements

2022

2021

29. Prior-year adjustments (continued) March 2021

Re classification

Restated

Correction of error

Note As previously reported

Receivables from non exchange

145 792

80 000

-

225 792

Funds to surrender Fines and penalties

(11 482 256)

(970 132) (80 000)

- (12 452 388)

-

-

(80 000)

Non current operating lease liability

(5 014 420) (2 917 194) (4 057 649) (23 325 727)

-

5 014 420

-

Staff accrual

1 197 832

-

(1 719 362) (9 072 069)

Current operating lease liability

-

(5 014 420)

227 700

- (23 098 027)

Statement of financial performance March 2021

Note As previously reported

Restated

Correction of error

Employee costs Operating expenses

38 861 315 19 155 482 2 126 036 150 053 523 210 196 356

(236 370) 38 624 945 227 700 19 383 182 38 106 150 091 629 (8 670) 210 187 686 (38 106) 2 087 930

Total revenue from exchange transactions Total revenue from non exchange transaction

30. Risk management Liquidity risk

Liquidity risk is the risk that the organisation would not have sufficient funds available or may encounter difficulties in raising funds to meet its future commitments. This risk is regarded as low considering the entity’s current funding structure and management of available cash resources. The table below provides detail of the entity's remaining contractual marurity for its financial liabilities: At 31 March 2022 Less than 1 year Between 1 and 2 years Between 2 and 5 years Over 5 years Operating lease 15 538 916 - - - Staff accrual 3 068 900 - - - Trade and other payables 675 520 - - - Long service awards 31 844 269 288 - - At 31 March 2021 Less than 1 year Between 1 and 2 years Between 2 and 5 years Over 5 years Operating lease 15 538 916 15 538 916 - - Trade and other payables 886 860 - - - Staff accrual 2 917 194 - - - Long service awards 27 500 250 168 - -

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