Page 290 - 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
35. Commitments

Authorised commitments
Already contracted for but not provided for
– Property, plant and equipment – buildings 3,598,589 914,018
– Property, plant and equipment – vehicles and containers 999,124 –
– Property, plant and equipment – furniture and office equipment 220,641 683,117
– Property, plant and equipment – computer equipment 144,139 10,363,324
– Property, plant and equipment – laboratory equipment 6,261,616 1,644,736
– Intangible assets 374,850 1,082,981
– Goods and services 10,661,713 16,032,000
– Research grants – 1,775,072
– Operating leases 2,506,835 5,339,916
24,767,507 37,835,164

Already contracted for but not provided for 24,767,507 37,835,164

This committed expenditure relates to property, plant and equipment; intangible assets;
goods and services and research grants and will be financed by retained surpluses, existing
cash resources and funds internally generated.

The 2022/2023 property, plant and equipment figures were restated to disclose each class
of property, plant and equipment.

Operating leases – as lessee (expense
Minimum lease payments due
– within one year 2,506,835 3,217,831
– in second to fifth year inclusive – 2,122,085
2,506,835 5,339,916

Operating lease payments represent rentals payable by the entity for certain of its office properties.
Leases are negotiated for an average term of three years. No contingent rent is payable.

Operating leases – as lessor (income)
Minimum lease payments due
– within one year 5,263,103 3,437,695
– in second to fifth year inclusive 12,011,076 3,892,283
– later than five years 561,010 1,360,969
17,835,189 8,690,947

Certain of the entity’s buildings generate rental income. Lease agreements have terms from 12 months to 9 years and
eight months.

288 SAMRC ANNUAL REPOR T 2023-24