OMBUD COUNCIL ANNUAL REPORT 2024/25

PART F: FINANCIAL INFORMATION

Amounts in Rand

2025

2024

7. PAYABLES FROM EXCHANGE TRANSACTIONS

Trade payables

1,522,552

595,412

Accruals

1,179,287

30,760

Accrued Leave

582,636

111,354

3,284,475

737,526

8. PROVISIONS RECONCILIATION OF PROVISIONS – 2025

Opening balance

Additions

Disposals Depreciation

Total

Provision for bonus

715,000

807,614

(390,700)

(324,300)

807,614

The provision for bonus represents management’s estimate of the entity’s liability for performance bonuses for the 2024/25 financial year. The budgeted amount has been used as the performance process for all employees was not finalised by the reporting date.

9. FINANCE LEASE OBLIGATION MINIMUM LEASE PAYMENTS DUE – within one year

25,683

18,483

– in second to fifth year inclusive

10,701

26,185

36,384

44,668

less: future finance charges

(2,886)

(5,829)

Present value of minimum lease payments

33,498

38,839

PRESENT VALUE OF MINIMUM LEASE PAYMENTS DUE – within one year

22,957

14,694

– in second to fifth year inclusive

10,541

24,145

33,498

38,839

Non-current liabilities

10,541

24,145

Current liabilities

22,957

14,694

33,498

38,839

The entity entered into a finance lease agreement f or a shredder and a printer starting date 1 September 2023 to 31 August 2026. Interest rate used is 11.75%.

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OMBUD COUNCIL ANNUAL REPORT 2024/25