146 / 248
NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS
CONTINUED
For the year ended 31 May 2015
144
BLUE LABEL INTEGRATED ANNUAL REPORT 2015
2014
R’000
7.
LOANS RECEIVABLE
Interest-free loans
41 041
25 710
Interest-bearing loans receivable
33 261
20 641
74 302
46 351
Less:
Amounts included in current portion of loans receivable
(44 569)
(27 850)
29 733
18 501
All loans receivable are unsecured. Interest-bearing loans bear
interest at a range of between prime and prime plus 2%.
Interest-free loans amounting to R32.1 million and interest-
bearing loans amounting to R1.3 million are repayable within
five years.
The loans receivable are neither past due nor impaired with
a low risk of default. Of this amount, R19 million (2014:
R24 million) relates to loans receivable from related parties,
which are interest free. Refer to note 29.
8.
STARTER PACK ASSETS
Balance at the beginning of the year
3 317
3 688
Additions
5 951
1 513
Impairments*
(1 419)
(1 520)
Disposals*
(1 462)
(364)
At the end of the year
6 387
3 317
Less:
Amounts included in current portion of starter pack assets
(1 938)
(1 010)
4 449
2 307
* These impairments and disposals are charged to the statement of comprehensive income and are included in changes
in inventories of finished goods. The impairments represent the value of starter packs that management considers the
probability of activation to be low. The disposals represent starter packs that have been activated during the year.
2015
R’000