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for the year ended 30 June
NOTES TO THE GROUP FINANCIAL STATEMENTS continued
19. INVENTORY
Merchandise 17 14
Consumables and hotel stocks 44 33
2010
Rm
2009
Rm
61 47
20. ACCOUNTS RECEIVABLE
Financial instruments
Trade receivables 189 171
Less impairment (25) (19)
Net trade receivables 164 152
Other receivables 189 139
Current portion of derivative financial instruments 3 –
356 291
Non financial instruments
Prepayments 113 70
VAT 70 116
The fair value of accounts receivable approximates their carrying value.
539 477
The group has recognised an additional provision of R6 million (2009: R9 million) for the impairment of its trade receivables during the year
ended 30 June 2010. The group has not utilised the provision for impaired receivables during the year ended 30 June 2010 (2009: Rnil). The
creation of the provision for impaired receivables has been included in other operational costs in the statement of comprehensive income.
Other receivables are expected to be fully recoverable. The trade receivables which are fully performing relate to customers that have a good
track record with the company in terms of recoverability.
The aging of trade receivables at the reporting date was:
Gross
Rm
2010 2009
Impairment
Rm
Gross
Rm
Impairment
Rm
Fully performing 81 – 103 –
Past due by 1 to 30 days 45 (5) 27 –
Past due by 31 to 60 days 21 (1) 11 (1)
Past due by 61 to 90 days 10 (2) 5 (1)
Past due by more than 90 days 32 (17) 25 (17)
189 (25) 171 (19)
169