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

16. Finance costs Finance leases Post‑retirement medical obligation

57,134 84,000

97,781 68,000

141,134

165,781

17. Auditors’ remuneration Fees

2,080,248

2,978,694

18. Cash used in operations Deficit Adjustments for: Depreciation and amortisation

(20,238,048)

(22,645,444)

8,478,827

5,054,758

Loss on sale of assets

2,215

54,727 97,781

Finance costs ‑ Finance leases

57,134

Debt impairment

2,338,439 (167,765) (183,000) (309,582)

3,409,193

Movements in operating lease assets and accruals

30,239 22,000

Movements in retirement benefit assets and liabilities

Movements in provisions

1,665,09

-

Payables from exchange transactions‑ prior period error

(390,942)

Changes in working capital: Inventories

(41,895)

(82,197)

Receivables from exchange transactions

(673,114)

(2,275,659) (4,048,819)

Statutory receivables

(3,824,749) (7,377,861)

Payables from exchange transactions

10,318,138

Administrative Fines Liability

1,366,268

187,987

20,573,131)

(8,603,143)

19. Commitments Operating leases ‑ as lessee (expense) Minimum lease payments due ‑ within one year

1,475,204

3,106,288 1,631,367

‑ in second to fifth year inclusive

-

1,475,204 4,737,655 Operating lease payments represent rentals payable by the MHSC for office buildings. Leases are negotiated for an average term of seven years. No contingent rent is payable.

92

“EVERY MINE WORKER RETURNING FROM WORK UNHARMED EVERYDAY”