Umsobomvu Youth Fund Annual Report 2006 - Nyda

notes to thefinancialstatementsfor the year ended31 March 2006GROUP AND COMPANYOffice VendingBuildings 7 Vehicles 8 equipment machinesRand Rand Rand Rand3 Surplus for the year (continued)Future minimum rentals undernon-cancellable operating leases2006Within one year 3 896 443 259 063 395 292 17 280After one year, but not more thanfive years 8 812 940 414 505 494 115 11 5202005Within one year 3 514 941 – 395 292 –After one year, but not more thanfive years 10 738 347 – 494 115 –7 The significant lease agreement period ranges from 3 to 5 years with option to renew and escalation clause in respect of building only.8 The lease of vehicles relates to a sale and lease-back with Nedbank Ltd trading as Nedlease for a period of 36 months.GROUPCOMPANY2006 2005 2006 2005Rand Rand Rand RandInterest income 52 133 678 68 971 739 52 574 535 69 783 319Interest income 52 023 854 68 229 887 52 018 602 69 041 467Interest income from impaired investments 109 824 741 852 555 933 741 852Income from subsidiary – – 576 579 –Interest income – – 446 109 –Administration fees – – 130 470 –Umsobomvu Youth Fund 2006 Financial Statements4 TaxationCompanyNo provision has been made for taxation as the Fund is exempt from Income Tax in terms of Section 7Aof the Demutualisation Levy Act, 50 of 1998.62