Page 254 - Capricorn IAR 2020
P. 254

  GLOSSARY OF TERMS ANNUAL FINANCIAL GLOSSARY OF TERMS STATEMENTS
NOTES TO THE CONSOLIDATED AND SEPARATE ANNUAL FINANCIAL STATEMENTS (continued)
    for the year ended 30 June 2020
37. STATEMENT OF CASH FLOWS DISCLOSURE INFORMATION (continued)
37.4 Income taxes paid
Amounts receivable/(payable) as at 1 July Current tax charged to profit or loss
Taxes not yet received
Amounts (receivable)/payable as at 30 June
Income taxes paid during the year
37.5 Acquisition of subsidiaries
Cash portion
Cash consideration paid
Net cash outflow on acquisition of subsidiary
38. CONTINGENT ASSETS, LIABILITIES AND COMMITMENTS
38.1 Capital commitments
Authorised but not contracted for:
Property and equipment
Intangible assets
Contracted for but not yet incurred:
For completion of residential units – Ondangwa phase 3
Group
Company
    2020 N$’000
2020 N$’000
    107,497
62,341 (428,648)
– (107,497)
2,717
 (352,850)
986
(3,703)
–
 –
 (108,147)
    (353,500)
(473,804)
–
      –
–
(7,415)
    –
–
(7,415)
    2019 N$’000
2019 N$’000
1,558 – 1,159
(2,717) –
– –
            Group
 2020 N$’000
    101,156
 126,457
  –
  227,613
    209,717
  1,345,544
   2,757,157
                Capital commitments for Ondangwa phase 3 relate to the development of residential units by Namib Bou (Pty) Ltd.
Funds to meet these commitments will be provided from Group resources.
38.2 Letters of credit
38.3 Liabilities under guarantees
Guarantees mainly consist of endorsements and performance guarantees.
38.4 Loan commitments
38.5 Operating lease commitments
Office premises
– Not later than 1 year
– Later than 1 year but not later than 5 years – Later than 5 years
2019 N$’000
81,670 110,975
1,743 194,388
230,143 1,280,854
1,699,163
91,545 111,362 642
203,549
          252
Notice periods on operating lease contracts vary between 1 to 6 months (2019: 1 to 6 months), operating lease contracts are not fixed and escalation clauses range between 6% and 10% (2019: 6% and 10%).
The Group has various operating lease agreements, of which the majority contain renewal options. The lease terms do not contain restrictions on the Group’s activities concerning further leasing, distribution of dividends or obtaining additional funding.






















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