NVFH 2020 Integrated Annual Report

NVest Financial Holdings Limited and its subsidiaries | (Registration number 2008/015990/06)
Annual Financial Statements for the year ended 29 February 2020
Notes to the Annual Financial Statements [continued]
Group
Company
Figures in Rand Notes 2020 2019 2020 2019
12. Deferred tax [continued]
Reconciliation of deferred tax (liability) / asset
At beginning of year (13,827,580) (13,818,549) 181,194 201,909
(Originating) reversing temporary difference relating to
Property, plant and equipment (72,241) (546,180) (47) (5,770)
Revaluation of investment property 4,517,781 496,549 - -
Prepaid expenses (92,318) 17,297 - 24,494
Operating lease asset 687,132 (18,751) - -
Revaluation of investments - 8,951 - -
Income received in advance 251,573 (566,420) - -
Provision of payroll accruals (100,565) 73,523 (20,496) (39,439)
Deductible temporary difference movement on leases 105,642 - 1,865,786 -
Assessed loss (110,953) 18,484 - -
Deferred income 169,025 467,137 - -
Doubtful debts 9,171 40,379 - -
(8,463,333) (13,827,580) 2,026,437 181,194
13. Loan to associate
Nations NFB Proprietary Limited 47,391 84,772 - -
The loan is unsecured, interest free and has no definite
date of repayment.
14. Trade and other receivables
Financial instruments:
Trade receivables 14,535,389 8,745,924 - -
Expected credit loss allowance (294,938) (192,282) - -
Trade receivables at amortised cost 14,240,451 8,553,642 - -
Deposits 550,850 563,234 - -
Sundry debtors 380,773 11,780,045 14,017 11,333
Non-financial instruments:
Value Added Tax 3,911,108 - - -
Loans advanced to employees 257,420 441,618 138,845 229,775
Prepaid expenses 1,327,808 980,754 72,679 102,950
Accrued income 279,257 231,029 139,056 135,738
Total trade and other receivables 20,947,667 22,550,322 364,597 479,796
NVest Financial Holdings Limited | INTEGRATED ANNUAL REPORT 2020 105