CTFA Annual Report 2022

FIGURES IN R NOTES 2022 2021 NOTES TO THE FINANCIAL STATEMENTS 9. Trade and other payables Trade and other payables comprise Trade creditors 102,904 2,101 COIDA accrual 2,775 7,991 Other accruals 59,304 32,564 Total trade and other payables 164,983 42,656 10. Operating lease liabilities 10.1 Accounting policies Lease payments under an operating lease are recognised as an expense on a straight-line basis over the lease term unless another systematic basis is more representative of the pattern of the benefit obtained. 10.2 Operating lease liabilities comprise Operating lease payable 58,640 97,438 58,640 97,438 10.3 Future minimum lease payments Not later than one year 58,640 38,798 Later than one year and not later than five years - 58,640 58,640 97,438 11. Deferred income 11.1 Accounting policies Deferred income are recognised at their fair value in profit or loss where there is a reasonable assurance that the deferred income will be received and the association has complied with all attached conditions. Deferred income received where the association has yet to comply with all attached conditions are recognised as a liability and released to income when all attached conditions have been complied with. Deferred incomes received is included in profit or loss. 11.2 Deferred income comprise Annual memberships fees received in advance - 169,025 ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 18