194 / 220
/
192
BLUE LABEL
INTEGRATED ANNUAL REPORT 2017
2017
R’000
2016
R’000
12. Trade and other payables
Trade payables
258
681
Accruals
24 306
8 552
Employee benefits
28 174
30 436
Sundry creditors
418
4 008
Contingent consideration (refer to note 2)
27 388
68 232
VAT
1 000
708
Payables to related parties (refer to note 22)
393
56
81 937
112 673
Less:
Amounts included in current portion of trade and other payables
(79 575)
(90 999)
2 362
21 674
13. Loans from subsidiaries
The Prepaid Company Proprietary Limited
1 443 625
1 135 399
Ventury Group Proprietary Limited
48 000
48 000
1 491 625
1 183 399
Refer to note 22 for terms of these loans.
14. Revenue
Revenue recognition
Revenue comprises management fees and dividends received from Group companies in the ordinary course of the
Group’s activities.
2017
R’000
2016
R’000
Management fees
110 904
109 500
Dividends
14 453
9 821
125 357
119 321
Refer to note 22.
15. Employee compensation and benefit expense
Salaries and wages
51 247
48 701
Bonuses
26 625
29 399
Equity compensation benefit
9 242
8 241
Other
1 312
227
88 426
86 568
The average number of employees for the year is 32 (2016: 32).
Notes
to the Company annual financial statements
continued
For the year ended 31 May 2017