BANKSETA ANNUAL REPORT 2023

ANNUAL FINANCIAL STATEMENTS NOTES TO THE ANNUAL FINANCIAL STATEMENTS for the year ended 31 March 2023

20. FINANCIAL INSTRUMENTS (continued)

20.3 Fair values The SETA’s financial instruments consist mainly of cash and cash equivalents, receivables from exchange and non-exchange transactions and payables from exchange and non-exchange transactions. No financial instruments were carried at an amount in excess of its fair value. The following methods and assumptions are used to determine the fair value of each class of financial instrument:

20.4 Ageing of financial assets and liabilities

The ageing of receivables from exchange transactions 2022/23

2021/22

Gross R’000

Impairment R’000

Gross R’000

Impairment R’000

Not past due

8 406

- - - -

1 313

- - - - - -

Past due 0 - 30 days Past due 31 - 120 days Past due 120 - 365 days

- - -

-

8

- -

More than one year Total receivables

8

(8) (8)

8 414

1 321

The ageing of cash and cash equivalents:

2022/23

2021/22

Gross R’000

Impairment R’000

Gross R’000

Impairment R’000

Not past due

1 126 578

- - - - -

1 212 576

- - - - -

Past due 0 - 30 days Past due 31 - 120 days Past due 120 - 365 days More than one year Total cash and cash equivalents

- - - -

- - - -

1 126 578

-

1 212 576

-

184

PART F: FINANCIAL INFORMATION | BANKSETA ANNUAL REPORT 2022/23