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SUN INTERNATIONAL ANNUAL REPORT ’10
176
NOTES TO THE GROUP FINANCIAL STATEMENTS CONTINUED
for the year ended 30 June
26. ACCOUNTS PAYABLE AND ACCRUALS
Financial instruments
Trade payables 172 210
Accrued expenses 638 480
Interest payable 8 11
Capital creditors 41 37
Current portion
Interest rate swaps – cash flow hedges 28 47
Interest rate cross currency swaps – cash flow hedges 3 44
Forward exchange contract 3 9
Other payables 9 21
2010
Rm
2009
Rm
902 859
Non financial instruments
VAT 52 39
Employee related accruals 207 215
The fair value of all non derivative financial instruments approximate their carrying value.
1 161 1 113
27. PROVISIONS
Balance at beginning of year:
Lease commitments and property closure costs 6 12
Progressive jackpots 43 40
Restructure costs – 2
Ster Century guarantee 4 4
Life Esidimeni pension liability – 18
53 76
Created during the year:
Lease commitments and property closure costs 1 1
Net progressive jackpots – 3
Ster Century guarantee 1 –
Life Esidimeni pension liability – 9
2 13
Utilised during the year:
Lease commitments and property closure costs – (7)
Net progressive jackpots (5) –
Restructure costs – (2)
Life Esidimeni pension liability – (27)
(5) (36)
Balance at end of year:
Lease commitments and property closure costs 7 6
Progressive jackpots 38 43
Ster Century guarantee 5 4
50 53