ACFI 2011/12.indd - Gauteng Provincial Treasury

GAUTENG PROVINCE PUBLIC ENTITIESNotes to the Combined Financial Statementsas at 31 March 2011Assets classified as held for sale and discontinued operations cont.Blue Catalyst Matching Fund TrustBlue Catalyst Matching Fund Trust (BCMFT) is a special purpose entity whose benefi ciary is Blue Catalyst Investments. The BCMFTowns 100% interest in Genesis Fitness (Proprietary) Limited. BCMFT was dissolved on the 11 February 2011.For the effect on the Statement of Position please refer to the Blue IQ Group Statements for the period ending 31 March 2012.NON-CURRENT ASSETS HELD FOR SALE - GAUTENG GAMBLING BOARDAs disclosed in the Gauteng Gambling Board fi nancial statements assets held for sale consists of land and buildings purchasedon 31 March 1999. The offi ce building is held under Title Deed number T86131. The property is situated at portion 4 of Erf 44Verwoerdburgstad Registration Division JR Province of Gauteng and measures 2,210 square meters in extent. The property wasrevalued by an independent valuator on 31 December 2009 at R 14,100,000. The revalued amount on 31 December 2009 was used asthe carrying amount .For the effect on the Statement of Position please refer to the Gauteng Gambling Board Statements for the period ending 31 March2012.NON-CURRENT ASSETS HELD FOR SALE - G-FLEETIn G-Fleet Vehicles held for sale comprise of vehicles transferred from property plant and equipment as refl ected in PPE. The transferredassets consist of vehicle that are uneconomical to maintain and those that were involved in accidents. Management have committed toselling these assets through an auction to be held in the new fi nancial year13. Loans and borrowingsNon-current liabilitiesOtherTotal2011/2012Notes R’000148,026148,0262010/2011R’000143,173143,173Current liabilitiesBank overdraftOtherTotalTotal borrowings4,579200,959205,538353,56410,395289,039299,434442,607Combined Financial Information Annual Report 2011/12 | Gauteng Provincial Government73