Page 266 - SAMRC Annual Report 2023-24

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
5. Receivables from non-exchange transactions
(continued)

Receivables from non-exchange transactions
past due but not impaired
Research grant receivables from non-exchange transactions which are less than one
month past due are not considered to be impaired. At 31 March 2024: R Nil
(31 March 2023: RNil) were past due but not impaired.

Receivables from non-exchange transactions impaired
The amount of the provision was RNil as at 31 March 2024 (31 March 2023: R Nil), the
amounts owing are considered fully recoverable.

The carrying amount of other receivables from non-exchange transactions are
denominated in the following currencies:
Rand 9,055,438 2,008,529
Pound sterling – 3,508,540
9,055,438 5,517,069

6. VAT receivable

VAT 25,439,861 16,208,647

7. Prepayments

Prepayments – other relate to expenditure paid in advance for subscriptions; membership fees; annual computer licenses;
computer software updates and maintenance; computer warranties; insurance; conference registrations and equipment
maintenance.

Subsistence and travel advances 274,614 361,605
Prepayments – other 15,096,316 10,657,934
15,370,930 11,019,539
The increase in prepayments – other is mainly as a result of an increase in computer software updates and maintenance;
computer warranties and equipment maintenance contracts paid during the period under review.

264 SAMRC ANNUAL REPOR T 2023-24