Page 20 - CAO Annual Report 2023-24

CENTRAL APPLICATIONS OFFICE
CENTRAL APPLICATIONS OFFICE NPC (RF) REGISTRATION NUMBER: 2007/002819/08
NOTES TO THE ANNUAL FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024 (Continued)
7. OPERATING PROFIT
2024 2023 RR
Operating surplus for the year is arrived at after crediting: -
Profit on disposal of asset
6 156 -
Operating surplus for the year is arrived at after debiting: -
Audit fees
81 600 75 900
Depreciation and amortisation
14 536 880 11 891 109
Employee costs
19 703 369 17 885 159
8. INTEREST RECEIVED
Interest received from banking Institutions
3 745 373 1 920 696
9. TAXATION
No taxation has been provided as the CAO has obtained exemption under section 10(1)(cN) and 18A of the Income Tax Act.
10. RELATED PARTY INFORMATION
10.1. Identity of Related Parties
The following Directors are related parties to the Company:
Dr. G Chetty
Mr. GB van der Ross
Dr. JS Chalufu
Mr. S Naidoo
Mr. D Wilkinson
Mr. BS Banda
Mr. ZP Gumede
Dr. NPJ Nombela-Mseleku
Prof. RS Robinson
Mr. Z Gqamane
18 ANNUAL REPORT 2023/2024