Page 319 - SAMRC AnnualReport 2025-26

F I NAN C IAL I N F O R MA T I O N

ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
NOTES TO THE ANNUAL FINANCIAL STATEMENTS
(CONTINUED)

4. Receivables from exchange transactions(continued)

Credit quality of trade and other receivables
The credit quality of trade and other receivables that are neither past nor due nor impaired can be assessed by
reference to historical information about the specific debtor.
None of the financial assets that are fully performing have been renegotiated in the last year.

Trade and other receivables impaired
The amount of the provision was RNil as of 31 March 2026 (31 March 2025: R3,340,265). All debtor balances are
reviewed for expected credit losses (ECL) and a loss allowance. The ECL considerations include solvency of
debtor; recoverability of amount owed and economic debtor considerations. The 2025 comparative is presented
on the previous GRAP 104 basis and has not been restated. The entity has adopted GRAP 104 (Revised) using
the modified retrospective approach effective 1 April 2025. Employee costs in advance are not considered for
impairment as these amounts are recovered/processed within 30 days.
Age as follows:
31 MARCH 31 MARCH
2026 2025
R R
Less than one month (re-issue of invoice) – 457,804
1 month but less than 2 months past due – 1,638,229
2 months but less than 3 months past due – 250,738
More than 3 months past due – 993,494

The carrying amount of trade and other receivables are denominated in the
following currencies:
Rand 41,629,161 63,184,709
US Dollar 6,220,365 8,965,382
Other – 1,129,219
Pound sterling 1,119,230 883,474
48,968,756 74,162,784

Reconciliation of provision for impairment of trade and other receivables
Opening balance 3,340,265 489,484
Recognised on transition to GRAP 104 (Revised) amount includes VAT (3,340,265) –
Provision for impairment – previous GRAP 104 basis – 3,340,265
Unused amounts reversed – (489,484)
– 3,340,265

The creation and release of provision for impaired receivables have been included in operating expenses in
surplus or deficit (note 27). Amounts charged to the allowance account are generally written off when there is no
expectation of recovering additional cash.

Financial instrument disclosure
Additional information on the financial instrument components of this note, as required by GRAP 104, is provided
in note 46 Financial Instruments – Risk Management and Other Disclosures.

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