Umsobomvu Youth Fund Annual Report 2006 - Nyda

notes to thefinancialstatementsfor the year ended31 March 2006COMPANYEffect of Effect ofSA error in transitionGAAP estimates to IFRS IFRSRand Rand Rand Rand2 Implementation of IFRS (continued)2.1 Reconciliation of reserves at 1 April 2004 (Date of transition to IFRS)Balance sheetAssetsNon-current assets 41 881 989 1 561 374 2 423 618 45 866 981Property, plant and equipment 4 612 740 1 073 716 – 5 686 456Intangible assets 267 028 487 658 – 754 686Loan debtors 10 233 806 – – 10 233 806Investment in joint ventures 6 568 415 – – 6 568 415Investment in associates 20 200 000 – 2 423 618 22 623 618Current assets 968 989 457 – – 968 989 457Short-term portion of loan debtors 3 590 765 – – 3 590 765Trade and other receivables 3 646 551 – – 3 646 551Bank balance and cash 12 771 858 – – 12 771 858Cash on call 948 980 283 – – 948 980 283Total assets 1 010 871 446 1 561 374 2 423 618 1 014 856 438Reserves and liabilitiesAccumulated reserves 322 405 507 1 299 022 2 2 423 618 326 128 147Non-current liabilities 671 627 326 262 352 2 – 671 889 678Committed funds 294 212 498 – – 294 212 498Uncommitted funds – restricted 52 715 579 – – 52 715 579Uncommitted funds – unrestricted 324 699 249 262 352 – 324 961 601Deferred grant income 671 627 326 262 352 – 671 889 678Umsobomvu Youth Fund 2006 Financial StatementsCurrent liabilities 16 838 613 – – 16 838 613Accounts payable and accruals 11 803 809 – – 11 803 809Provisions 3 920 659 – – 3 920 659Deferred income 1 114 145 – – 1 114 145Total equity and liabilities 1 010 871 446 1 561 374 2 423 618 1 014 856 4382 This adjustment relates to previously recognised depreciation, as well as deferred grant income recognised on depreciation relating toproject costs.54