ACFI 2011/12.indd - Gauteng Provincial Treasury

More documents

Recommendations

Info

GAUTENG PROVINCE PUBLIC ENTITIESNotes to the Combined Financial Statementsas at 31 March 20119. Deferred tax2011/2012Notes R’0002010/2011R’000Deferred tax assetDeferred tax liabilityDeferred tax liabilities (net)-27,08427,084(1,325)35,59334,268Movement in deferred income tax assets and liabilities during the year:Balance at 1 AprilCharged/(credited) to the statement of fi nancial performanceCharged directly to net assetsOtherBalance at 31 March34,268(4,806)(2,742)36427,08425,5362,0826,650-34,26810. InventoriesFinished goodsConsumableTotal104 13021104 151147 33214147 34611. Cash and cash equivalentsBank balances and cash on handCall depositsTotal2,881,625122,4323,004,0572,072,960195,1852,268,145Cash and cash equivalents in the statement of cash flowsCash and cash equivalentsBank overdrafts3,004,057(4,579)2,999,4782,268,145(10,395)2,257,750Combined Financial Information Annual Report 2011/12 | Gauteng Provincial Government71
GAUTENG PROVINCE PUBLIC ENTITIESNotes to the Combined Financial Statementsas at 31 March 201112. Assets classified as held for sale and discontinued operations2011/2012Notes R’0002010/2011R’000Assets of a disposal group classifi ed as held for saleProperty, plant and equipmentTotal37,77737,77735,78835,788Liabilities of a disposal group classifi ed as held for saleTrade and other payablesTotal5,1095,1094,5994,599Analysis of the result of discontinued operations, and the result recognised on theremeasurement of assets or disposal group, is as follows:RevenueExpensesSurplus/(defi cit) before tax of discontinued operationsTaxationSurplus/(defi cit) after tax of discontinued operationsPre-tax gain/(loss) recognised on the remeasurement of assets of a disposal groupTaxationAfter tax gain/(loss) on the remeasurement of assets of a disposal groupSurplus/(defi cit) for the year from discontinued operations7,210(15,442)(8,232)-(8,232)---(8,232)7,206(11,201)(3,995)-(3,995)---(3,995)DISCONTINUED OPERATIONS - BLUE IQ INVESTMENT HOLDINGS (PTY) LTDGauteng Motorsport Company (Proprietary) LimitedBlue IQ is a shareholder of Gauteng Motorsport (Pty) Ltd (“GMSC’). The “GMSC” was mandated to deliver on the Department ofEconomic Development (“DED”) obligations in respect of the international motorsport event rights that the DED had acquired andto manage the marketing and operations of all such events. However, as a result of the review process undertaken by the Gautengprovincial government of all agency programmes, the DED took the decision to exit the motorsport programme and the related hostingrights agreements resulting in the company being placed into voluntary liquidation by Blue IQ, as the shareholder, on 7 December 2009.Greater Newtown Development Company (Proprietary) LimitedThe entity’s shareholders are Blue IQ Investment Holdings (Proprietary) Limited (77%) and City of Johannesburg Municipality (23%)(“COJ). Johannesburg Development Agency (“JDA”) is a wholly owned subsidiary of COJ. In October 2008 COJ assigned theirshareholding of 23% in Newtown to JDA. The shareholders have agreed to winding down of operations and liquidation of the entity asa result of the governing agreement of No.1 Central Place the net assets of the entity will be transferred to COJ upon liquidation. BlueCatalyst Investment (Proprietary) Limited. The entity is wholly owned by Blue IQ Investment Holdings (Proprietary) Limited. The Boardof Blue IQ resolved to wind down the operations and liquidate the entity as a result of the review process undertaken by the Gautengprovincial government of all agency programmes. The company was placed in voluntary liquidation in February 2011 and liquidator hasnot been appointed by the Master of the Court.Genesis Fitness (Proprietary) LimitedBlue IQ is 100% shareholder of Genesis Fitness (Proprietary) limited (“GF”). To date the Blue IQ has invested in excess of R29 million inBlue Catalyst associated entities (including the R5 million inter-bank guarantee).Subsequent to 2009/10 year end audit, management initiated a process of resolving the Genesis Fitness (GF) external audit fi ndings bysetting up a sub-committee to outline actions, steps and processes to close the fi ndings. To that end, a fi le comprising all steps taken byBlue IQ to address GF fi nancial management and audit fi ndings was prepared.72 Gauteng Provincial Government | Combined Financial Information Annual Report 2011/12
Page 3 and 4:
AcronymsAFSCAFSGRAPGDFGPGPFMANTGPTC
Page 5 and 6:
Statement of the MEC for Financefor
Page 7 and 8:
Report of the Head of Departmentfor
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
SECTION B:GAUTENG PROVINCIAL DEPART
Page 21 and 22: Report of the Auditor-General : Dep
Page 23 and 24: GAUTENG PROVINCIAL DEPARTMENTSCombi
Page 25 and 26: GAUTENG PROVINCIAL DEPARTMENTSCombi
Page 27 and 28: GAUTENG PROVINCIAL DEPARTMENTSState
Page 29 and 30: GAUTENG PROVINCE PUBLIC DEPARTMENTS
Page 31 and 32: GAUTENG PROVINCIAL DEPARTMENTSNotes
Page 41 and 42: GAUTENG PROVINCIAL DEPARTMENTSDiscl
Page 53 and 54: Report of the Auditor - General : P
Page 55 and 56: GAUTENG PROVINCIAL PUBLIC ENTITIESC
Page 57 and 58: GAUTENG PROVINCIAL PUBLIC ENTITIESC
Page 59 and 60: GAUTENG PROVINCIAL ENTITIESStatemen
Page 61 and 62: GAUTENG PROVINCE PUBLIC ENTITIESSta
Page 63 and 64: GAUTENG PROVINCE PUBLIC ENTITIESSta
Page 65 and 66: GAUTENG PROVINCE PUBLIC ENTITIESNot
Page 71: GAUTENG PROVINCE PUBLIC ENTITIESNot
Page 89 and 90: GAUTENG PROVINCE PUBLIC ENTITIESOth
Page 91 and 92: Detailing Audit Outcomes for Depart
Page 93 and 94: Categorised Entities According to D
show all

ACFI 2011/12.indd - Gauteng Provincial Treasury

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?