2008 Finansiële Jaar - overbergagri

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OVERBERG AGRI BEPERK EN SY FILIALE Aantekeninge tot die finansiële jaarstate (vervolg) VIR DIE JAAR GEËINDIG 29 FEBRUARIE 2008 16 HANDELS- EN ANDER DEBITEURE - GROEP 2008 2007 (vervolg) R’000 R’000 Beweging in die voorsienings vir waardedalings van handelsdebiteure en huurkoopdebiteure is soos volg: OVERBERG AGRI LIMITED AND ITS SUBSIDIARIES Notes to the annual financial statements (continued) FOR THE YEAR ENDED 28 FEBRUARY 2007 16 TRADE AND OTHER RECEIVABLES - GROUP (continued) Movements in the provisions for impairment of trade debtors and hire-purchase debtors are as follows: Saldo 01 Maart 19,548 18,688 Balance 01 March • Besigheidsamevoeging (aantekening 42) 200 - • Voorsiening vir waardedaling van handelsdebiteure en huurkoopdebiteure 11,560 14,219 • Handelsdebiteure en huurkoopdebiteure afgeskryf gedurende die jaar as oninbaar (21) (331) • Onbenutte bedrae teruggeskryf (11,559) (13,028) Saldo 29 Februarie 2008 19,729 19,548 Die maksimum blootstelling aan kredietrisiko op die verslaggewingsdatum is die billike waarde van elke klas debiteur hierbo genoem. Alle huurkoopdebiteure is ontvangbaar binne 5 jaar vanaf die balansstaatdatum. Die effektiewe rentekoers van die huurkoopdebiteure is gekoppel aan prima rentekoers plus of minus 'n persentasie, gegrond op die debiteur se risikoprofiel. Die vervaldatums van huurkope is soos volg: • Business combinations (note 42) • Provision for impairment of trade debtors and hirepurchase receivables • Trade receivables and hire-purchase debtors written off as irrecoverable during the year • Unutilised amounts written back Balance 29 February 2008 The maximum exposure to credit risk on the reporting date is the fair value of each class of receivables referred to above. All hire-purchase receivables are receivable within 5 years of the balance sheet date. The effective interest rate of the hire-purchase receivables is linked to the Land Bank rate plus a percentage point, based on the receivables’ risk profile. The dates of maturity ofhire-purchases are as follows: Op 29 Februarie 2008 Finansier- Paaieingskoste mente At 29 February 2008 Kapitaal Capital Financing Instalments costs R’000 R’000 R’000 Binne een jaar 19,290 6,868 26,159 Within one year Tussen 1 en 2 jaar 13,792 4,816 18,607 Between 1 and 2 years Tussen 2 en 3 jaar 11,972 2,955 14,926 Between 2 and 3 years Tussen 3 en 4 jaar 8,793 1,436 10,229 Between 3 and 4 years Tussen 4 en 5 jaar 5,458 512 5,970 Between 4 and 5 years 59,304 16,587 75,892 Op 28 Februarie 2007 On 28 February 2007 Binne een jaar 18,734 4,634 23,368 Within one year Tussen 1 en 2 jaar 14,397 3,361 17,758 Between 1 and 2 years Tussen 2 en 3 jaar 9,869 1,824 11,693 Between 2 and 3 years Tussen 3 en 4 jaar 5,309 726 6,035 Between 3 and 4 years Tussen 4 en 5 jaar 1,749 151 1,900 Between 4 and 5 years 50,059 10,696 60,755 2008 2007 % % Die effektiewe rentekoers op die debiteure is soos volg: • Teen swewende rentekoerse: 14,66% 12,84% Handelsdebiteure ten bedrae van R260,870,839 dien as kollateraal ten gunste van die Landbank. Die Landbank verskaf 'n produksielening met 'n oortrokke fasiliteit en dra rente soos bepaal van tyd tot tyd deur die Landbank (tans 12,5% [2007: 10,0%]). Indien The effective interestrate on the debtors is as follows: • At floating interest rates: Trade receivables to the value of R260,870,839 serve as collateral in favour of the Land Bank. The Land Bank provides a production loan with an overdraft facility bearing interest as determined by the Land Bank from time to time (currently 76
OVERBERG AGRI BEPERK EN SY FILIALE Aantekeninge tot die finansiële jaarstate (vervolg) VIR DIE JAAR GEËINDIG 29 FEBRUARIE 2008 16 HANDELS- EN ANDER DEBITEURE - GROEP (vervolg) die Maatskappy nie by die terme van die produksielenings bly nie, het die Landbank die reg om kontantvloei van die handelsdebiteure te vorder en/of ander sekuriteite (verwys aantekening 22) op te roep om die uitstaande bedrag te delg. Indien die terme van die produksielening nagekom word gaan die Maatskappy voort om die handelsdebiteure te vorder en nuwe handelsdebiteure skuld as kollateraal aan te bied. In terme van die kredietbeleid moet persone versekering uitneem om die skuld te delg in die geval van dood. Die versekeringspolisse is gesedeer aan die Maatskappy. Die versekeringspolisse is ook aan die Landbank sedeer as sekuriteit vir die lenings (verwys aantekening 22). OVERBERG AGRI LIMITED AND ITS SUBSIDIARIES Notes to the annual financial statements (continued) FOR THE YEAR ENDED 29 FEBRUARY 2008 16 TRADE AND OTHER RECEIVABLES - GROUP (continued) 12,5% [2007: 10,0%]). If the Company does not keep to the terms of the production loans, the Land Bank has the right to collect cash flow from the trade receivables and/or call up other securities (refer note 22) to settle the outstanding amount. If the terms of the production loan are honoured, the Company will continue to collect the trade receivables and offer new trade receivables debt as collateral. In terms of the credit policy persons have to take out insurance to settle the debt in the event of death. The insurance policies have been ceded to the Company. The insurance policies have also been ceded to the Land Bank as security for the loans (refer note 22). Daar is ook ’n sessie op handelsbedibeure van R12,231,596 ten gunste van die ABSA banklening. Die banklenings dra rente soos van tyd tot tyd bepaal en tans is die rentekoers prima min 1% (aantekening 22). 2008 2007 R’000 R’000 17 KONTANT EN KONTANTEKWIVALENTE 17 CASH AND CASH EQUIVALENTS Bankrekeninge 77,846 3,145 Bank accounts Kontant voorhande - 588 Cash on hand Aanvraag-deposito's 54 4,705 Call deposits Ander deposito's 671 378 Other deposits 78,571 8,816 There is also a cession on trade receivables of R12,231,596 in favour of the ABSA bank loan. The bank loans bear interest as determined from time to time and currently the interest rate is prime less 1% (note 22). 2008 2007 % % Die effektiewe rentekoers op banksaldo's en korttermyn The effective interest rate on bank balances and short-term bankdeposito's is soos volg: bank deposits is as follows: - Teen swewende rentekoerse: - At floating interest rates: - Banksaldo's 0,00%-5,00% 0,05%-2,40% - Bank balances - Korttermyn bankdeposito's 0,00%-11,20% 1,50%-8,25% - Short-term bank deposits 2008 2007 18 HUIDIGE BELASTINGBATE R’000 R’000 18 CURRENT TAXATION ASSET Inkomstebelasting 3,655 10,323 18 HUIDIGE BELASTING AANSPREEKLIKHEID Inkomstebelasting 1 293 554 19 AANDELEKAPITAAL - GROEP Gemagtig 10,000,000 gewone aandele van 15 sent elk (2007: 10,000,000) gewone aandele van 15 sent elk 1,500 1,500 Uitgereik 8 388 583 gewone aandele van 15 sent elk (2007: 8,388,583) gewone aandele van 15 sent elk 1,258 1,258 Income tax 18 CURRENT TAXATION OBLIGATION Income tax 19 SHARE CAPITAL - GROUP Authorised 10,000,000 ordinary shares of 15 cents each (2007: 10,000,000) ordinary shares of 15 cents each Issued 8,388,583 ordinary shares of 15 cents each (2007: 8,388,583) ordinary shares of 15 cents each 77
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2008 Finansiële Jaar - overbergagri

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