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BLUE LABEL
INTEGRATED ANNUAL REPORT 2017
Notes
to the Group annual financial statements
continued
For the year ended 31 May 2017
3.
Financial instruments and financial risks
continued
Maturity of financial liabilities
The table below analyses the Group’s non-derivative financial liabilities into relevant maturity groupings based on the
remaining period at the statement of financial position date to the contractual maturity date.
The amounts disclosed in the table are the contractual undiscounted cash flows.
Payable in:
Less than
one month
or on
demand
R’000
More than
one month
but not
exceeding
one year
R’000
More than
one year
but not
exceeding
two years
R’000
More than
two years
but not
exceeding
five years
R’000
More than
five years
R’000
2017
Interest-bearing borrowings
—
—
—
—
—
Non-interest-bearing borrowings
6 676
11 350
—
—
—
Trade and other payables*
2 280 680
1 223 630
3 911
—
—
Contingent consideration
2 588
26 303
4 900
—
—
Total
2 289 944 1 261 283
8 811
—
—
2016
Non-interest-bearing borrowings
16 087
—
—
—
—
Trade and other payables*
1 801 482
729 843
28 327
—
—
Contingent consideration
— 56 033
33 895
—
—
Total
1 817 569
785 876
62 222
—
—
* Trade and other payables exclude non-financial instruments, being VAT and certain amounts included within accruals and sundry
creditors.
3.1 Financial assets
3.1.1 Loans receivable
Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in
an active market. These assets are included in current assets, except for maturities greater than 12 months after the
statement of financial position date, which are classified as non-current assets.
2017
R’000
2016
R’000
Interest-free loans
121 609
53 189
Interest-bearing loans receivable
103 471
50 938
225 080
104 127
Less:
Amounts included in current portion of loans receivable
(188 229)
(98 217)
36 851
5 910
All loans receivable are unsecured and repayable within five years. Interest-bearing loans bear interest at a range of
between 7.5% and prime plus 2%.
The loans receivable are neither past due nor impaired with a low risk of default. Of this amount, R26 million
(2016: R47 million) relates to loans receivable from related parties, of which R26 million (2016: R21 million) is interest
free (refer to note 8).