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143
HSRC Annual Report 2016/17
Note(s)
2017
Less than 12 months
2016
Current
R’000
30 days and
above
R’000
Total
R’000
Current
R’000
30 days and
above
R’000
Total
R’000
Trade and other receivables
2
36,887
6,840
43,727
27,737
2,651
30,388
36,887
6,840
43,727
27,737
2,651
30,388
Percentage analysis
84%
16%
100%
91%
9%
100%
30.4 Liquidity risk
The HSRC manages liquidity risk through proper management of working capital, capital expenditure and actual versus forecast cash flows and its cash management policy. Adequate reserves and liquid
resources are also maintained. Budgets are prepared annually and analysed monthly against performance to ensure liquidity risks are monitored.
30.5 Market risk
The HSRC has limited exposure to market risk.
30.6 Fair values
The HSRC’s financial instruments consist mainly of cash and cash equivalents, payables and receivables. No financial instrument was carried at an amount in excess of its fair value and fair values could
be reliably measured for all financial instruments. The following methods and assumptions are used to determine the fair value of each class of financial instruments:
33.6.1 Cash and cash equivalents
The carrying amount of cash and cash equivalents and held-to-maturity financial assets approximates fair value due to the relatively short- to medium-term maturity of these financial assets.
33.6.2 Other receivables from exchange transactions
The carrying amount of other receivables from exchange transactions approximates fair value due to the relatively short-term maturity of these financial assets.