11.5 Continued
There were write-offs of R2 million for trade and other receivables during the year (2019: no material write-offs). These amounts
were written off subject to enforcement activity.
The impairment allowance on trade and other receivables is R104 million (2019: R97 million), the details of which are as follows:
GROUP
2020
R’m
2019
R’m
Specific impairment (19) (9)
Balance at the beginning of the year (9) (11)
Increase in allowance during the year (9) (1)
Transfer between portfolio and specific impairment (1) 3
Portfolio impairment (85) (88)
Balance at the beginning of the year (88) (83)
Transfer between portfolio and specific impairment 1 (3)
Decrease/(increase) in allowance during the year 2 (2)
Total allowance for impairment (104) (97)
11.6 Trade and other receivables can be summarised as follows:
GROUP
2020 2019
DEBT IN
DEBT IN
CURRENT
ARREARS
TOTAL
CURRENT
ARREARS
TOTAL
R’m
R’m
R’m
R’m
R’m
R’m
Trade receivables 2 659 80 2 739 2 269 63 2 332
Production accounts 2 358 46 2 404 2 080 40 2 120
Current accounts 301 34 335 189 23 212
Current portion of loans and other
receivables
330 68 398 268 106 374
Grain debtors 183 - 183 166 - 166
Sundry receivables 519 - 519 106 - 106
Less: allowance for impairment (32) (72) (104) (44) (53) ( 97)
Total trade and other receivables 3 659 76 3 735 2 765 116 2 881
11.6.1 Current receivables are accounts within current credit terms.
11.6.2 Debt in arrears are accounts outside current credit terms.
11.6.3 The allowance relating to debt in arrears is a specific provision based on debtors handed over to the legal department.
11.7 As security for Senwes’ short-term facilities with Absa Bank (including the facility towards Tradevantage), all rights and interests in
producer debtors and their underlying securities have been ceded and pledged to Absa Bank. The value of security ceded amounts to
R3,7 billion (2019: R2,1 billion) as at year-end.
11.8 The carrying value read with the portfolio allowance, approximates the fair value of trade and other receivables.
Senwesbel Limited Reg no: 1996/017629/06 SENWESBEL ANNUAL FINANCIAL STATEMENTS 2020 48