GPW_AR_2013_Final_v10.pdf

9.TRADE AND OTHER RECEIVABLES

2013

2012

R ‘000

R ‘000

Trade receivables Other receivables

404,770

161,294

3,824

2,973

408,594

164,267

Incapacity leave of R 102 thousand (2012: R 32 thousand) is included in other receivables.

The GPW considers that the carrying amount of trade and other receivables approximates to their fair value. Concentrations of credit risk with respect to trade receivables are limited due to the majority of receivables being owed by government departments. Management believes that no additional credit risk beyond amounts provided for collection losses is inherent in the group’s trade receivables. Trade and other receivables impaired As at 31 March 2013 trade and other receivables in the amount of R 24,977 thousand was considered to be impaired and an increase in the provision for doubtful debts of R 6,487 thousand was passed in the current ½ nancial year.

Reconciliation of provision for impairment of trade and other receivables

2013

2012

R ‘000

R ‘000

Opening balance

18,490

25,302 (5,423) (1,389) 18,490

Provision adjustment

6,487

Less: utilised

-

24,977

The creation and release of provision for impaired receivables have been included in other income in the statement of comprehensive income (note 3). Amounts charged to the allowance account are generally written off when there is no expectation of recovering additional cash.

10. CASH AND CASH EQUIVALENTS

Cash and cash equivalents consist of:

2013

2012

R ‘000

R ‘000

Cash on hand Bank balances

444

39

74,450 953,437

15,676 942,743 958,458

Paymaster General

1,028,331

53

GPW ANNUAL REPORT 2012 | 2013