Page 137 - TKZN Annual Report 2023/2024

KWAZULU-NATAL TOURISM AUTHORITY
Trading as Tourism KwaZulu-Natal
Annual Financial Statements for the year ended 31 March 2024
Notes to the Annual Financial Statements
23. Directors Remuneration (continued) Non-executive
2024
Members’ fees
Other fees Total
Figures in Rand Thousand
Mr. S.L. Madlala 630 Mr. T. Mzileni 348 Prof. T. Nzama 282 Mr. P. Ngcobo 330 Mr. D. Ramuedzisi 54 Ms. M. Madlala 365 Mr. R. Button 281 Mr. S. Kalinjani 380 Dr. K. Naidoo 304 Prof. T. Nzimakwe 296 Mr. M. Ngcobo 52 Ms. D. Hoorzuk 30
- Mr. D. Ramuedzisi and Mr. M. Ngcobo are independent members of the Audit and Risk Committee.
- 630 2 350 8 290 2 332 - 54 - 365 - 281
10 390 2 306 2 298
- 52 - 30
3 352
26
3 378
2023
Mr. S.L. Madlala Mr. T. Mzileni Prof. T. Nzama Mr. P. Ngcobo
Mr. D. Ramuedzisi Ms. M. Madlala Mr. R. Button
Mr. S. Kalinjani Dr. K. Naidoo Prof. T. Nzimakwe Mr. M. Ngcobo
24. Change in estimate
Property, plant and equipment
Members’ fees Other fees Total
614 - 614 343 8 351 282 4 286 327 10 337
56 - 56 381 - 381 272 - 272 325 3 328 280 - 280 285 - 285
56 - 56
3 221
25
3 246
In terms of GRAP 17, the useful lives of all assets were reviewed. The remaining useful life expectation of certain items of property, plant and equipment differed from previous estimates resulting in a change in accounting estimate.The effect of the revision has decreased the depreciation charge by, R154 552 (2023 : R98 780). The future impact of the change in estimate will result in the same amount being charged as depreciation.
TOURISM KWAZULU-NATAL ANNUAL REPORT 2023/2024 135