7.2.5 |
Other financial liabilities |
||
GROUP | |||
2021 R ' m |
2020 R ' m |
||
Non-current liabilities
AgriRewards 1
|
66 |
35 |
|
Total other financial liabilities |
66 |
35 |
GROUP | ||
Financial year awarded |
Present value of award ( R ' m )
|
Payment date |
2017 |
4 |
30 April 2033 |
2018 |
11 |
30 April 2034 |
2019 |
6 |
30 April 2035 |
2020 |
19 |
30 April 2036 |
2021 |
26 |
30 April 2037 |
66 |
7.3 |
Contract liabilities |
||
GROUP | |||
2021 R ' m |
2020 R ' m |
||
Storage of grain |
10 |
4 |
|
Handling of grain |
20 |
5 |
|
Total |
30 |
9 |
Contract liabilities include advances received to deliver storage and handling of grain . All the contract liabilities are short-term in nature . These liabilities will | |||
subsequently realise to grain storage income and grain handling income , respectively under services rendered . The typical timing of payment corresponds | |||
with the delivery of grain and differs from the performance obligation of delivering storage and handling of grain . The contract liability increase from the | |||
prior year is therefore due to early deliveries of grain compared to the prior year . The revenue recognised in profit or loss that was included in the opening | |||
balance of the contract liability amounts to R9 million ( 2020 : R39 million ). | |||
7.4 |
Deferred government grants |
||
KLK Landbou Ltd | |||
Government grants have been received for the purchase of certain items of plant and equipment . There are no unfulfilled conditions or contingencies | |||
attached to these grants . Deferred government grants are recognised according to the useful life of the assets to which they relate . | |||
GROUP | |||
2021 R ' m |
2020 R ' m |
||
Balance at the beginning of the year |
11 |
- |
|
Recognition due to business combination * |
- |
11 |
|
Received during the year |
7 |
2 |
|
Realised in profit or loss |
( 3 ) |
( 2 ) |
|
Total |
15 |
11 |
|
* The recognition of deferred government grants relates to the acquisition of KLK Landbou Ltd . Refer to 6.2 for further details relating to the acquisition . |