Page 101

AFRICAN DAWN 2015 Annual Report

Notes to the Financial Statements continued Group Company 2015 R’000 2014 R’000 AFRICAN DAWN 99 ANNUAL REPORT 2015 34. Cash used in operations 2015 R’000 2014 R’000 Loss before taxation ( 31,977) (21,423) (39,552) (3,831) Adjustments for: Depreciation 424 392 49 46 Loss on disposal of property, plant and 23 1 34 1 equipment Loss on sale of non-current assets held for sale - 311 - - Movement in operating lease liability (151) (21) (151) Gain on present value adjustments on interest free borrowings (661) - (92) - Equity accounted income Elite Two 2,259 (1,472) - - Investment income (735) (80) (700) (7) Finance costs 3,115 3,838 265 185 Fair value of contingent consideration 2,000 - 2,000 - Impairment adjustment group loans - - 16,203 (2,842) Impairment of investment in subsidiary - - 2,710 - Non-cash finance costs (penalties and 5,518 25 1,077 - interest on income tax) Impairment of Candlestick Park Investment in Subsidiary - - 5,279 - Amortisation (refer to note 5) 1,758 211 - - Deemed interest expense (refer to note 28) 110 - - - Profit on disposal of Nexus (3,231) - - - (Refer to note 38) Interest raised and paid on borrowings - - 37 - Impairment of properties in possession 1,500 - - - Bad debt write off - - 1,000 - Non-cash portion of NHFC guarantee 1,750 - 1,750 - Impairment of intangible asset 1,150 - - - Changes in working capital: Properties in possession 280 405 - - Trade and other receivables 14,798 17,359 55 546 Trade and other payables (1,514) (55) 974 737 Deferred income 474 - - - Other financial assets 830 (616) - - (2,280) (1,125) (9,062) (5,167)


AFRICAN DAWN 2015 Annual Report
To see the actual publication please follow the link above