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

22. Transfer to National Revenue Fund

Balance at beginning of the year

-

(245 400)

Transfers to the National Revenue Fund declared

(74 800)

-

(74 800)

(245 400)

March 2021 2019/20 surplus The CIPC submitted an application to the National Treasury to retain its surplus for the 2019/2020 financial year in terms of section 53(3) of the PFMA and section 6 of the National Treasury Instruction No. 6 of 2017/2018. Instruction by National Treasury to surrender funds Subsequent to year end, the CIPC transferred R74,8 million of its accumulated surplus to the National Treasury as per instruction received from it. The transfer was declared and payment was effected during the 2020/21 financial year. March 2020 The CIPC declared R245,4 million of its 2018/19 accumulated surplus to the National Treasury as per instruction received from it. Payment was effected during the 2019/20 financial year.

23. Cash generated from operations

Surplus

122 308

81 922

Adjustments for: Depreciation and amortisation Gain on disposal of assets

20 356

23 191

(114)

(34)

Impairment loss on property, plant and equipment

97 77

87 44

Bad debt written off

Movements in operating lease assets and accruals Movements in provisions - Employee costs

334

(2 630)

7 661

2 098

Derecognition of assets

58

151

Changes in working capital: Consumables on hand

86

10

Receivables from exchange transactions

153

(154)

Prepayments

(2 348) 11 144

(15 395) (11 797)

Payables from exchange transactions

Payables from customer deposits - Annual returns

5 724

7 540

165 536

85 033

27

COMPANIES AND INTELLECTUAL PROPERTY COMMISSION I Annual Report 2020/21

97