Page 178 - Adopt-a-School Foundation 2016-2017 Annual Report

ADOPT-A-SCHOOL FOUNDATION NPC
NOTES TO THE ANNUAL FINANCIAL STATEMENTS
for the year ended 30 June 2017

Figures in Rands 2017 2016
R R
4. trade and other Receivables

Trade receivables 2 727 363 706 950
VAT Receivable 197 177 2 332 986
Staff loans 46 819 -
Other receivables 2 747 -
2 974 106 3 039 936
Fair value of trade and other receivables
The carrying value of trade and other receivables approximate their fair value.

The ageing of trade receivables is as follows 2017 2016
Fully performing: 0 - 30 days - -
Greater than 30 Days 2 727 363 706 950

Trade and other receivables impaired
Trade and other receivables greater than 30 days are not considered to be impaired as there is no history of default.
As of 30 June 2017, trade and other receivables of R nil (2016: R nil) were impaired and provided for.

Currencies
The carrying amount of trade and other receivables are denominated in the following currencies: Rands

5. cash and cash equivalents

Cash at bank and in hand 4 722 305 1 617 530
Deposits at call 23 861 371 34 814 679
28 583 676 36 432 209

The above figures reconcile to the amount of cash shown in the statement of cash flows at the end of the financial year as follows:
Balance as per above 28 583 676 36 432 209
Bank overdrafts - -
28 583 676 36 432 209
Term deposits are presented as cash equivalents if they have a maturity of three months or less from the date of acquisition. See note 1.11 for the
Foundation other accounting policies on cash and cash equivalents

Credit quality of bank balances:
The credit quality of cash at bank and short term deposits, excluding cash on hand that are neither past due nor impaired can be assessed by reference to
external credit ratings:

Credit rating (from Fitch Ratings Inc.) 2017 2016
BBB+ 28 583 676 36 432 209

176