RAND WATER ANNUAL REPORT 2023

Consolidated Annual Financial Statements for the year ended 30 June 2023

Notes to the Consolidated Annual Financial Statements 19. Provisions (Continued)

Figures in Rand thousand

Group

Rand Water

2023

2022 Restated *

2021 Restated *

2023

2022 Restated *

2021 Restated *

Included in the the current liabilities are amounts which are claimed from Rand Water as a result of contractual obligations. Provisions arising from litigations against the Group amounting to R1.8 million (2022: R5.6 million; 2021: R153 million). At 30 June 2022, as a result of the circumstances confirmed as detailed in Note 39, the Entity had reclassified to other trade payables an amount of R145 million relating to the settlement agreement reached with the service provider for litigations claimed,and subsequently paid in the current year. Refer to Note 20. 20. Trade and other payables

Financial instruments: Trade payables

2 881 399 2 601 514 2 435 144 2 881 398 2 600 810 2 435 145 160 942 157 511 171 998 160 942 157 511 171 998 540 628 437 189 305 632 540 628 437 189 305 632 208 337 333 989 269 218 207 128 333 488 264 684

Accrued leave pay

Accrued bonus Other payables

Non‑financial instruments: VAT payable

117 - 3 791 423 3 537 279 3 183 281 3 790 096 3 536 074 3 177 459 7 076 1 289 - 7 076

Trade and other payables comprise amounts outstanding for trade and non‑trade purchases. Trade and other payables are carried at amortized cost and the carrying amount approximates fair value. These are settled 30 days from the date of statement with the exception of the Department of Water and Sanitation which is settled 60 days from the date of statement. The trade and other payables incorporate retention payments that are due as and when predetermined projects milestones have been met. Due to the nature of the condition attached to the projects, the timing thereof is not easily determinable and is therefore deemed to be current in nature.

Included in other payables for the year ended 30 June 2022, is an amount that was settled to a service provider in 2023 financial year for litigations claimed against the Entity as detailed in Note 19 of R145 million.

Accrued bonus has increased year on year mainly attributable to the normal agreed salary adjustments.

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