CTFA Annual Report 2019

NOTES TO THE FINANCIAL STATEMENTS FIGURES IN R 2019 2018 6. Trade and other receivables 6.1 Accounting policies Trade receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for impairment of trade receivables is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables. Trade and other receivables are classified as debt instruments and loan commitments at amortised cost. 6.2 Trade and other receivables comprise Trade receivables 16,792 - Trade receivables impairment (11,555) - Trade receivables - net 5,237 - Prepaid expenses 7,953 - Deposits 153,492 153,492 Value added tax 40,102 142,646 Total receivables 206,784 296,138 6.3 Items included in trade and other receivables not classified as financial instruments Prepaid expenses 7,953 - Value added tax 40,102 142,646 Total non-financial instruments included in trade and other receivables 48,055 142,646 Total trade and other receivables excluding non-financial assets included in trade and other receivables 158,729 153,492 Total trade and other receivables 206,784 296,138 7. Cash and cash equivalents 7.1 Cash and cash equivalents comprise: Cash Cash on hand - 561 Bank Balances 9,750,153 3,278,522 Total cash 9,750,153 3,279,083 Bank overdrafts (3,763) (3,569) Net cash and cash equivalents 9,746,390 3,275,514 COSMETIC TOILETRY AND FRAGRANCE ASSOCIATION OF SOUTH AFRICA 38