MHSC ANNUAL REPORT 2020

MINE HEALTH AND SAFETY COUNCIL ▪ ANNUAL REPORT 2019/20

Mine Health and Safety Council for the year ended March 31, 2020 Notes to the Financial Statements

2020 R

2019 R

Statutory receivables past due but not impaired Other receivables from non‑exchange transactions which are less than 3 months past due are not considered to be impaired. At March 31, 2020, R 2,845,941 (2019: R 32,844) were past due but not impaired. The ageing of amounts past due but not impaired is as follows: Statutory receivables impaired As of March 31, 2020, other receivables from non‑exchange transactions of R 14,825,803 (2019: R 10,985,281) were impaired and provided for. Provision for impairment covered mines who are uncontactable , under Business Rescue and Liquidated Mines over two years old. The amount of the provision was R 11,901,614 as of March 31, 2020 (2019: R 9,563,175). The ageing of these loans is as follows: 1 month past due 2,845,94 32,844

Opening balance

(9,563,175) (2,338,439) (11,901,614)

(6,153,981) (3,409,194)

Provision for impairment

(9,563,175)

10. Cash and cash equivalents Cash and cash equivalents consist of:

Petty cash

2,000

2,000

Bank balances

5,209,631 10,275,306

Short‑term deposits

31,367,062 52,872,146

Seed funding and building‑ Call deposit

92,000,000 92,000,000 128,578,693 155,149,452

Credit quality of cash at bank and short term deposits, excluding cash on 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 external credit ratings: The Seedfunding and Building funds are not available for economic use. They are ring‑fenced for Seedfunding projects and the purchase of a building.

Credit rating Baa3

128,576,693 155,147,452

89

“EVERY MINE WORKER RETURNING FROM WORK UNHARMED EVERYDAY”