Umsobomvu Youth Fund Annual Report 2006 - Nyda

notes to thefinancialstatementsfor the year ended31 March 2006GROUPCOMPANY2006 2005 2006 2005Rand Rand Rand Rand3 Surplus for the yearSurplus for the year is stated aftertaking the following into account:IncomeProfit from sale of investment 100 000 5 – 100 000 1 690 291Repayment of management fees – (434 133) – (434 133)ExpensesAuditors’ remuneration 1 837 440 1 146 840 1 819 440 1 146 840Audit fees 1 546 740 900 600 1 528 740 900 600Prior year under provision 290 700 246 240 290 700 246 240Depreciation 3 163 250 2 054 773 2 955 269 2 054 773Computer hardware 872 041 790 951 864 670 790 951Computer software 175 568 166 227 170 457 166 227Office equipment 434 387 308 362 434 387 308 362Furniture 592 104 414 836 589 950 414 836Leasehold improvements 796 011 269 675 769 799 269 675Jacking equipment 47 518 – – –Tools 27 767 – – –Motor vehicles 217 854 104 722 126 006 104 722Depreciation included aboveattributable to programmes (833 932) (541 703) (833 932) (541 703)2 329 318 1 513 070 2 121 337 1 513 070Amortisation of intangible assets 741 948 382 956 741 948 382 956Employee costs 46 274 387 31 520 353 44 418 130 31 520 353Umsobomvu Youth Fund 2006 Financial StatementsSalaries and allowances 44 361 767 30 291 337 42 505 510 30 291 337Provident fund 1 819 035 1 229 016 1 819 035 1 229 016Termination benefits 93 585 – 93 585 –Less: Attributable to programmes (32 416 172) (22 061 245) (32 416 172) (22 061 245)13 858 215 9 459 108 12 001 958 9 459 108Project-related operating expenses 6 7 297 211 – 7 297 211 –5 Accrual of profit on sale of 10% shareholding in Paperrolls 4 Africa (Pty) Ltd disposed of during the year under review.6 Direct, indirect costs and share of overhead costs written off against accumulated reserves as deferred grant income becomes fullycommitted to projects and investments.60