Page 85 - KZN Film A Report

Notes to the Financial Statements (continued)
3. Receivables from exchange transactions
Customer Control Account Debtors with credit balances Provision for doubtful debts Sundry Debtors
Non-current assets Current assets
Customer control account
602,605 1,524 - 218,017
368,847 - (286,000) 268,452 351,299
KWAZULU-NATAL FILM COMMISSION
(Registration number M3/15/32 (834/15)) Annual Financial Statements for the year ended 31 March 2021
Figures in Rand
2021
2020
822,146
-- 822,146 351,299
822,146 351,299
- Hire of production equipment and office space for R17,389.50. from tenants who occupy the KZN Cluster. - MICT SETA funding Learnership programme receivable of R586,740.
Sundry debtors
- The amount of R23 050 relates to a supplier that had overcharged the entity as a result of moving from EFT payments to debit order and duplicating one month's fee, recovery process has been initiated in the prior financial year and has not been finalised. - The amount of R194,967.32 relates to interest earned on the investment bank balance for the period uder review.
4. Receivables from non-exchange transactions
Pay-As-You-Earn (PAYE) 331 45,519
The amount of R331 relates to employee tax deduction which has been reconciled as at 31 March 2021, where a credit is due to the organisation.
5. Cash and cash equivalents
Cash and cash equivalents consist of:
Cash on hand Bank balances Call account
6. Prepayments
2,297 481,088 66,091,007
1,125 1,585,760 48,261,663
66,574,392 49,848,548
Prepayments 321,257 621,344
Subscription and services 3,143
Rentals 302,029
IT costs 16,085
Board Q1 retainer fees - 84,266
The prepayments relate to:
- IT costs relates to server maintenance and other IT related subscriptions and R302,029 for rentals of month of April 2021
199 302,029 234,850
321,257 621,344
KZN FILM COMMISSION ANNUAL REPORT 2020/2021
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