Page 177 - WCPP Annual Report 2021-22_Draft #7.6.2
P. 177

Annual Report for the 2021/22 Financial Year
                                                                Vote 2: Western Cape Provincial Parliament
                                              Part E: Financial Information for the year ended 31 March 2022



              Notes to the Annual Financial Statements

              Figures in Rand                                                       2022          2021

              12.   Heritage assets

                                                       2022                             2021
                                          Cost /    Accumulated Carrying value  Cost /  Accumulated Carrying value




                                        Valuation  impairment             Valuation  impairment
                                                      losses                          losses


              Paintings, sculptures and   4,732,002   (143,702)  4,588,300  4,732,002  (143,702)  4,588,300
              ornaments

                Reconciliation of heritage assets 2022

                                                    Opening    Additions  Disposals  Impairment   Total
                                                    balance                           losses
                                                                                    recognised


              Paintings, sculptures and ornaments    4,588,300         -          -          -    4,588,300


              Reconciliation of heritage assets 2021

                                                    Opening    Additions  Disposals  Impairment   Total
                                                    balance                           losses
                                                                                    recognised

              Paintings, sculptures and ornaments    4,732,002         -          -    (143,702)  4,588,300


              Pledged as security


              No heritage asset was pledged as security.

              13.   Payables from exchange transactions

              Accruals                                                              1,399,952     1,107,071
              Other payables                                                        1,261,266      133,863

                                                                                    2,661,218     1,240,934

              Other payables
              Creditors                                                               90,545        50,392
              Salary control account                                                       -          76,763
                S&T Daily Allowance                                                    9,286         6,708
              Members backpay                                                        573,340            -
              Income Tax: Members backpay                                            382,528            -

              Pension: Members backpay                                               205,567            -


                                                                                    1,261,266      133,863

              14.   Direct charge liability

              Direct chargedue to the Revenue Fund:

                Transfer from the statement of financial performance                 9,082,728     4,643,843

              Movement during the year

                Balance at the beginning of the year                                4,643,843     2,414,018
              Transfer from the statement of financial performance                   9,082,728     4,643,843

              Payment during the year                                              (4,643,843)   (2,414,018)

                                                                                    9,082,728     4,643,843






              Annual Report for 2021/22 Financial Year                                               Page 162
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