Page 265 - SAMRC Annual Report 2023-24

FINANCIAL INFORMATION

ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE ANNUAL FINANCIAL STATEMENTS

(CONTINUED)

31 MARCH 31 MARCH
2024 2023
R R
4. Receivables from exchange transactions
(continued)

Trade and other receivables impaired
The amount of the provision was R489,484 as of 31 March 2024 (31 March 2023:
R626,312). All debtor balances are reviewed for impairment. Impairment
considerations include solvency of debtor and recoverability of amount owed.

Employee costs in advance are not considered for impairment as these amounts are
recovered/processed within 30 days.

Aged as follows:
More than 3 months past due 489,484 626,312

The carrying amount of trade debtors are denominated in the following currencies:
Rand 68,698,434 104,469,514
US Dollar 11,414,113 7,435,420
Pound sterling 470,330 –
80,582,877 111,904,934

Reconciliation of provision for impairment of trade and other receivables
Opening balance 626,312 394,366
Provision for impairment 489,484 626,312
Unused amounts reversed (626,312) (394,366)
489,484 626,312
5. Receivables from non-exchange transactions

Research grant debtors 9,055,438 5,517,069

At 31 March 2024 there were funder/grantor non-exchange debtors and accrued income (31 March 2023 there were
funder/grantor non-exchange debtors and accrued income).

SAMRC ANNUAL REPOR T 2023-24 263