MENU Notes to the financial statementsfor the year ended 30 June 2015

  1. Accounting policies
  2. Definitions
  3. Revenue
  4. Cost of sales
  5. Trading profit
  6. Share-based payments
  7. Finance revenue
  8. Finance cost
  9. Taxation
  10. Earnings per share
  11. Headline earnings per share
  12. Dividends paid in the current year
  13. Property, plant and equipment
  14. Investment properties
  15. Investments
  16. Long-term financial assets
  17. Goodwill
  18. Deferred taxation
  19. Inventories
  20. Trade and other receivables
  21. Cash and cash equivalents
  22. Stated capital
  23. Non-distributable reserve
  24. Interest-bearing loans and borrowings
  25. Trade and other payables
  26. Provisions
  27. Reconciliation of profit before taxation to cash generated from operations
  28. Taxation paid
  29. Dividends paid
  30. Commitments and contingencies
  31. Employee benefits
  32. Financial risk management objectives and policies
  33. Related-party transactions
  34. Segment report (restated)
  35. Subsequent events
  36. Discontinued operations
  37. Loss of control in subsidiary
  38. Group entities
Company         Group  
2015  
Rm’s  		     2014  
Rm’s  		       2015  
Rm’s  		     2014  
Rm’s  
        20. Trade and other receivables            
          Trade receivables – net of impairment     123       102  
          Prepayments     20       6  
          Sundry debtors*     59       61  
580       555     Amounts owing by subsidiary            
580       555         202       169  
*Includes deposits and rebates receivable.  

For terms and conditions relating to Group related-party receivables, refer to note 33.  

Trade receivables are non-interest-bearing and are generally on 30-day terms.  

The fair value approximates the carrying value due to the short-term nature of these balances.  

The amounts owing by subsidiary represent amounts owing by Italtile Ceramics Proprietary Limited. These amounts are unsecured, carry no interest and are payable on demand. Outstanding balances are settled from time to time based on the cash flow requirements of the various entities. 

As at 30 June 2015, trade receivables at nominal value of R9 million (2014: R9 million) were impaired and fully provided for. Movements in the provision for impairment of trade receivables were as follows:

    Total  
Rm’s  
At 1 July 2013     5  
Utilised during the year     #  
Raised during the year     4  
At 30 June 2014     9  
Utilised during the year     (1) 
Raised during the year     1  
At 30 June 2015     9  
#Less than R1 million.      
As at 30 June 2015, the ageing analysis of trade receivables is as follows:
        Past due, not impaired    
    Total  
Rm’s  		 Current (not  
impaired) 
Rm’s  		 30 – 60  
days  
Rm’s  		 60 – 90  
days  
Rm’s  		 > 90 days  
Rm’s  		 Past due,  
impaired  
2015     132   112   1   6   4   9  
2014     111   97   2   1   2   9