17 . |
TRADE AND OTHER PAYABLES |
||||
GROUP |
COMPANY |
||||
2021 R ' m |
2020 R ' m |
2021 R ' m |
2020 R ' m |
||
Trade payables |
1 409 |
613 |
1 |
- |
|
Members ' funds |
11 |
12 |
- |
- |
|
Audit fees |
7 |
1 |
- |
- |
|
PAYE |
10 |
8 |
- |
- |
|
Other amounts payable |
366 |
126 |
- |
- |
|
Leave and thirteenth cheque accrual |
53 |
33 |
- |
- |
|
Total trade and other payables |
1 856 |
793 |
1 |
- |
18.2 |
Deferred tax asset /( liability ) |
||||
GROUP |
COMPANY |
||||
2021 R ' m |
2020 R ' m |
2021 R ' m |
2020 R ' m |
||
The main temporary differences : Property , plant and equipment |
( 466 ) |
( 319 ) |
- |
- |
|
Inventory provisions |
25 |
6 |
- |
- |
|
Trade and other receivables |
9 |
23 |
- |
- |
|
Other provisions |
59 |
34 |
- |
- |
|
AgriRewards |
( 60 ) |
( 33 ) |
- |
- |
|
Share incentive |
( 3 ) |
( 1 ) |
- |
- |
|
Right-of-use asset and lease liability adjustment *** |
- |
- |
- |
- |
|
Operational losses carried forward * |
96 |
17 |
- |
- |
|
CGT losses carried forward |
37 |
13 |
- |
2 |
|
Investment in subsidiaries ** |
( 35 ) |
- |
- |
- |
|
Investment in joint ventures ** |
13 |
( 29 ) |
( 134 ) |
( 111 ) |
|
Deferred tax ( liability )/ asset |
( 325 ) |
( 289 ) |
( 134 ) |
( 109 ) |
|
* The operational losses carried forward relate mainly to Agri Credit Solutions ( previously Suidwes Landbou ) and Africum Ltd . The deferred tax asset will be | |||||
recognised according to the probability of the asset utilised through future profits . No time limit on utilisations exists for recognition . Agri Credit Solutions | |||||
and Africum Ltd realised losses for the 2021 financial period . However , the forecast and budget of these companies reflect a profit for the foreseeable future . | |||||
The situation will be monitored and if profits don ' t realise as expected in the following years , the asset will be reconsidered . | |||||
** Hinterland was accounted for as a Joint Venture prior to 1 October 2020 , but was reclassified as an investment in subsidiary after the Afgri exit . The | |||||
investment in subsidiaries relates to the Hinterland acquisition and Suidwes acquisition . | |||||
*** Amount is less than R0,5 million . The group accounts for deferred tax on a gross basis relating to the right-of-use asset and liability . |