SACAA Annual Report 2022_23

PART F I Annual Financial Statements Annual Financial Statements for the year ended 31 March 2023

Notes to the Annual Financial Statements

2023

2022

19. Debt impairment Increase/(decrease) in debt impairment provision

5 137 439 2 737 106

(25 128 470) 38 913 033

Bad debts written off* Bad debts recovered

(142 509)

-

7 732 036 13 784 563 *Included in bad debts written off in the prior year are amounts for Mango Airlines of R17 417 136 (in business rescue), Comair of R8 912 837 (in business rescue), South African Airways of R5 710 978 (previously in business rescue), SA Express of R5 007 334 (in provisional liquidation) and other debtors. 20. Taxation No provision for taxation has been made, as the SACAA is exempted in terms of section 10 (1) (CA) (i) of the Income Tax Act, 1962 (Act No. 58 of 1962)

21. Auditors’ remuneration Fees

2 760 241

3 049 882

Reimbursive expenses

22 324

15 197

2 782 565

3 065 079

22. Cash generated from operations Surplus

89 234 959

111 927 610

Adjustments for: Depreciation and amortisation (Gain)/loss on disposal of assets

9 070 058 (412 076) 7 874 545

11 556 581

312 887

Debt impairment and bad debts written off Movements in operating lease liability

13 784 563

516 610

(82 986)

Movements in provisions

52 796 877

22 490 696

Changes in working capital: Consumable stores

(79 096)

418 090

Statutory receivables

(1 183 907) (7 874 545) (4 158 260) (7 845 795) 137 939 370

(12 349 033) (13 784 563) (6 771 950) 20 006 564 147 508 459

Movement in debt impairment and bad debts written off

Receivables from exchange transactions

Trade and other payables

210 I Annual Report 2022/23 I Annual Financial Statements