Limpopo Gambling Board Annual Report

LIMPOPO GAMBLING BOARD Annual Financial Statements for the year ended 31 March 2022 Notes to the Annual Financial Statements

2022

2021

9. Receivables from exchange transactions Trade debtors

39 132 160 091 199 223

11 000 243 049 254 049

Prepaid expenses and deposit

Trade and other receivables past due but not impaired Trade and other receivables which are less than 3 months past due are not considered to be impaired. The ageing of amounts past due but not impaired is as follows: 1 month past due 39 131

11 000

2 months past due

-

321

10. Receivables from non-exchange transactions Sundry debtors

69 812

-

Fines and penalties receivable Levies not received at year end

- - -

80 000 145 471

Staff debtors

321

Consumer debtors - Rates

5 040

5 040

74 852

230 832

Non-current assets

5 040 69 812 74 852

5 040

Current assets

225 792 230 832

Statutory receivables included in receivables from non-exchange transactions above are as follows: Levies -

145 471 80 000 225 471 150 832

Fines

- -

Financial asset receivables included in receivables from non-exchange transactions above

74 852

Total receivables from non-exchange transactions

74 852

150 832

Receivables from non- exchange Levies amounting to R 0 (R 145 470) are for the last week of March and had not been received at year end. The entity raised a statutory receivable for these levies as per GRAP 108. Levies arise as a result of the Limpopo Gambling Act and Limpopo Gambling Regulations. The regulations stipulate a rate to be applied on an operators profit to get the levy figure. No interest is charged on late levies. These are paid to the entity by the operators on a weekly basis and transferred to the shareholder at the end of each month. The levies were assessed for impairment as at 31 March 2021 and none of the levy amounts outstanding were deemed irrecoverable. No Levies were deemed a receivabe at the end of March 2022.

40

150