Page 97

AFRICAN DAWN 2015 Annual Report

Notes to the Financial Statements continued Group Company 2015 R’000 2014 R’000 AFRICAN DAWN 95 ANNUAL REPORT 2015 25. Other income Profit on disposal of subsidiary (refer to note 38) 2015 R’000 2014 R’000 3,231 - - - Gain on present value adjustment of interest free borrowings (refer to note 17 and 28) 662 - 92 - Bad debts recovered on trade receivables 1,850 927 - 5 Sundry income 232 12 232 9 VAT recovery 77 20 - - Sundry income 49 - 38 - Penalty received on subsidiary sale cancellation (refer to note 15) 1,316 - 1,316 - 7,417 959 1,678 14 Operating lease charges Premises 3,828 3,458 - 448 Equipment 566 746 29 68 4,394 4,204 29 516 26. Operating loss Operating loss for the year is stated after accounting for the following: Loss on sale of property, plant and equipment 23 1 34 1 Profit on disposal of subsidiary 3,231 - - - Impairment to properties in possession 1,500 - - - Legal fees 935 656 407 48 Loss on call up of NHFC guarantee still due (refer to note 17) 1,750 - 1,750 - Loss on call up of NHFC guarantee paid during year (refer to note 17) 2,000 - 2,000 - Impairment on intangible assets 1,150 - - - Amortisation on intangible assets 1,758 211 - - Depreciation on property, plant and 424 392 49 46 equipment Employee costs 20,534 17,607 3,848 4,744 27. Investment income Interest revenue Cash and cash equivalents 735 80 700 7


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