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

The ageing of amounts past due but no loss allowances recognised is as follows: Less than 30 days -

21,692

Between 31 and 60 days and above

-

-

Fair value trade and other receivables The fair values of trade and other receivables approximate its carrying value due to its short-term nature. 7. Cash and cash equivalents Bank balances 161 381

189 438

Short-term deposits

67 046 235 67 207 616

61 412 993 61 602 431

Credit quality of cash at bank and short-term deposits, excluding cash in hand The credit quality of cash at bank and short-term deposits, excluding cash on hand that are neither past due nor impaired can be assessed by reference to historical information about counterpart default rates. None of the financial institutions with which bank balances are held defaulted in prior periods and as a result a credit rating of high are ascribed to the financial institutions. The company’s maximum exposure to credit risk as a result of the bank balances held is limited to the carrying value of these balances as detailed above. However, to mitigate the risk of loss, the company only transacts with highly reputable financial institutions. 8. Deferred income Current liabilities - Opening balance 25 721 473 23 073 585 - Receipts for operational expenditure 15 531 000 16 357 000 - Transferred to grant income (9 423 583) (13 709 112) - Transferred to non-current deferred income (14 571 890) - Grants received not utilised 17 257 000 25 721 473

Non current liabilities - Opening balance

144 886 037

141 587 833

- Receipts for capital expenditure - Transferred to grant income - Investment income capitalised

-

-

(1 457 078) 2 984 541 14 571 890

(1 232 777) 4 530 980

- Transferred from current liabilities for operational expenditure Grants related to assets and operational expenditure

-

160 985 389

144 886 037

For more information on deferred income and grant income, refer note 20. 9. Trade and other payables Trade payables

481 249 513 425 994 674

87 097 423 237 510 333

Accruals

CENTURION AEROSPACE VILLAGE NPC I ANNUAL REPORT I 2020/21

82