CAV Annual Report 2021

CENTURION AEROSPACE VILLAGE NPC Registration Number: 2000/006996/08 ANNUAL FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2021

NOTES TO THE ANNUAL FINANCIAL STATEMENTS

2021

2020

R

R

4. Intangible assets

2021

2020

Cost

Accumulated amortisation

Carrying value

Cost

Accumulated amortisation

Carrying value

Computer software

56 915 56 915

(56 915) (56 915)

- -

56 915 56 915

(54 062) (54 062)

2 853 2 853

Total

Reconciliation of intangible assets – 2021

Opening Balance

Additions

Disposals

Amortisation

Total

Computer software

2 853 2 853

- -

- -

(2 853) (2 853)

- -

Reconciliation of intangible assets - 2020

Opening Balance

Additions

Disposals

Amortisation

Total

Computer software

24 102 24 102

- -

- -

(21 249) (21 249)

2 853 2 853

5. Long-Term Deposits Aerosud Holdings Pty Ltd

81 000 510 000

-

City of Tshwane deposits

510 000

Lombard insurance

1 588 943 2 179 943

1 588 943

2 098 943 Four bulk service agreements were signed with City of Tshwane for the below mentioned services for the proposed Pierre van Ryneveld X33 Township: a) Electrical Services; b) Water Services; c) Sewer/ sanitation Services; and d) Streets/roads and Stormwater Services. The agreements stipulate the pre-proclamation requirements under which the above services were to be supplied to the proposed township, including the following: • Bulk contributions towards the cost of External Services; and • Provision of Performance or Maintenance guarantees. In line with the above requirements, performance and maintenance guarantees were sourced from Lombard Insurance and submitted to the City of Tshwane Metropolitan Municipality.

CENTURION AEROSPACE VILLAGE NPC I ANNUAL REPORT I 2020/21

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