CIPC Annual Report V1

Companies and Intellectual Property Commission Annual Financial Statements for the year ended 31 March 2021 Notes to the Annual Financial Statements

2021

2020

R '000

R '000

3.

Receivables from exchange transactions

Trade receivables Staff receivables

493 639

433 846

Patent Corporation Treaty (PCT) receivables

64

32

Other receivables

430

486

Provision for doubtful debts

(100)

(41)

1 526

1 756

4.

Prepayments

Prepaid expenses: Insurance

4

5

Renewal of software licence

24 355

21 676

Subscriptions Rental expense

85 63

261

-

Software maintenance agreement

299

516

24 806

22 458

Reconciliation of prepayments

March 2021

Less than one year

Longer than one year

Total

Prepayments

16 757

8 049

24 806

March 2020

Less than one year

Longer than one year

Total

Prepayments

13 208

9 250

22 458

5.

Cash and cash equivalents

Cash and cash equivalents consist of:

Bank balances

10 185 32 990 618 959

33 752

Collection accounts

916

Call account-Corporation for Public Deposits (CPD)

560 828

662 134

595 496

Call account: Interest was earned at an average rate of 3.8% (2020: 6.8%) during the financial year.

20

COMPANIES AND INTELLECTUAL PROPERTY COMMISSION I Annual Report 2020/21

90