 |
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| |
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| NOTES TO THE GROUP FINANCIAL STATEMENTS CONTINUED |
| for the year ended 31 March |
| |
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|
2006 |
2005 |
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|
US$m |
US$m |
|
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| 27 |
ACCOUNTS PAYABLE |
|
|
|
|
Trade payables |
3,0 |
4,2 |
|
|
Employee costs and benefits |
8,6 |
4,1 |
|
|
Pre-paid fees |
– |
0,6 |
|
|
Executive share trust participants’ loan accounts |
2,9 |
4,6 |
|
|
Reclassified as short-term liabilities |
– |
(1,9) |
|
|
Other |
0,9 |
3,5 |
|
| |
Total accounts payable |
15,4 |
15,1 |
|
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|
|
|
|
| 28 |
PROVISIONS |
|
|
|
|
Leave pay |
0,4 |
0,3 |
|
|
Private equity rights |
0,8 |
1,0 |
|
|
Legal fees |
– |
1,0 |
|
|
Commission expenses |
2,1 |
– |
|
|
Other |
3,7 |
1,2 |
|
| |
Total provisions |
7,0 |
3,5 |
|
|
| |
| |
|
Leave pay US$m |
Private Equity rights US$m |
Legal fees US$m |
Commission expenses US$m |
Other* US$m |
2006 Total US$m |
2005 Total US$m |
|
|
|
|
|
|
|
|
|
|
Movement of provisions
The movements for the year in the group’s provisions were as follows: |
|
|
|
|
|
|
|
|
Balance at beginning of year |
0,3 |
1,0 |
1,0 |
– |
1,2 |
3,5 |
4,2 |
|
Provisions utilised during the year |
– |
(0,2) |
(0,7) |
– |
(0,6) |
(1,5) |
(1,5) |
|
Charge to income for the year |
0,1 |
– |
(0,3) |
2,1 |
3,1 |
5,0 |
0,8 |
|
– current year |
0,1 |
– |
– |
2,1 |
3,1 |
5,3 |
1,3 |
|
– amounts released to income statement |
– |
– |
(0,3) |
– |
– |
(0,3) |
(0,5) |
|
|
|
| |
Balance at end of year |
0,4 |
0,8 |
– |
2,1 |
3,7 |
7,0 |
3,5 |
|
* Other provisions include Brait IV fund-raising and foreign withholding tax provisions in Bayport.
All provisions are anticipated to realise within the next 12 months. |
|
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| 29 |
CURRENT BORROWINGS |
|
|
|
|
|
|
Loans from associates |
|
|
|
2,3 |
1,7 |
|
Current portion of non-current secured liabilities (refer note 26) |
1,0 |
2,3 |
|
Shareholder loan |
|
|
|
|
0,3 |
– |
|
This loan is US dollar denominated, bears interest at 20% per annum with no fixed repayment terms. |
|
|
|
Other current borrowings |
|
|
|
15,3 |
1,9 |
|
Other current borrowings include short-term loans which are matched by an equivalent asset reflected under ’Other current investments’ in note 17. Both the asset and the liability are expected to be realised within 12 months. |
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Total current borrowings |
|
|
|
18,9 |
5,9 |
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| 30 |
LIABILITIES DIRECTLY ASSOCIATED
WITH NON-CURRENT ASSETS HELD FOR SALE |
|
|
|
Secured liabilities |
|
|
|
|
– |
13,2 |
| |
The loan was directly associated with the group’s Johannesburg property and buildings, including fittings, situated at 9 Fricker Road, Illovo. The loan was settled with the sale of the property. |
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