Download Annual Report 2006 - Foskor

INCOME NOTES TO STATEMENTTHE FINANCIAL STATEMENTSfor the year ended 31 March 2006COMPANYGROUP12 months 9 months 12 months 9 monthsended ended ended endedMarch March March MarchR’000 2006 2005 2006 20059 AVAILABLE FOR SALE INVESTMENTSListed sharesInvestment in Godavari Fertilizers &Chemicals Ltd (India) 18,328 13,871 18,328 13,871Other – – – 115Assest held for environmental rehabilitation(refer to Note 25) 41,233 26,947 41,233 26,94759,561 40,818 59,561 40,93310 NON-CURRENT RECEIVABLESFinance lease – Gross investment – 599,455 – –Unearned finance income – (284,614) – –– 314,841 – –Loans to employees in accordance withhousing and other loan schemes – – 647 2,670Total non-current receivables – 314,841 647 2,670Current portion (Note 12) – (8,484) (647) (1,604)Long-term portion of non-current receivables – 306,357 – 1,066Future repayments of employee loansNot later than one year – – 647 1,604Later than one year and not later than five years – – – 1,066Later than five years – – – –– – 647 2,670The employee loans are classified as originatedby the entity and are carried at amortised cost.These loans bear interest at rates that varybetween prime and 1% above prime.Finance lease receivablesGross receivables from finance leaseNot later than one year – 33,303 – –Later than one year and not later than five years – 166,515 – –Later than five years – 396,856 – –– 596,674 – –Unearned future finance income on finance lease – (310,456) – –Non–current receivables – 286,218 – –Net investment in finance leaseNot later than one year – 6,385 – –Later than one year and not later than five years – 42,788 – –Later than five years – 237,045 – –– 286,218 – –The finance lease was between Foskor (Proprietary) Limited and its wholly owned subsidiary, Richards Bay Sulphuric Acid(Proprietary) Limited.40