HSRC Integrated Annual Report 2018/2019

HSRC INTEGRATED ANNUAL REPORT 2018/19 / 103 NOTES TO THE ANNUAL FINANCIAL STATEMENTS for the year ended 31 March 2019 (Continued) 2019 March 2018 March R’000 R’000 2.4 Reconciliation of the Impairment Allowance Balance at beginning of the year (1 639) (875) Movement for the year (3 329) (796) Bad debts written off 255 32 Balance at 31 March (4 713) (1 639) 2.5 Trade and Other Receivables Past Payment Due Date Trade and other receivables which are less than three months past the due payment date are not considered to be impaired as at 31 March 2019, R12 390 000 (2018: R9 380 000). The ageing of amounts past due date but not impaired are as follows: 30 days past due 3 055 7 437 60 days past due 3 717 622 90 days past due 5 618 1 321 12 390 9 380 2.6 Trade and Other Receivables Impaired As at 31 March 2019, trade and other receivables of R4 713 000 (2018: R1 639 000) were impaired and provided for. The ageing of these receivables is as follows: Over 180 days 4 713 1 639 4 713 1 639 The fair value of trade receivables approximates their carrying amounts. 3 Inventories Finished goods** 4 699 4 804 Publications 4 699 4 744 Cafeteria - 60 Work in progress* 152 140 4 851 4 944 Cost of goods sold AISA Publications and HSRC Press 1 408 1 919 Cafeteria*** 1 422 4 376 2 830 6 295 * Work in progress consists of books in production. ** Publications to the value of R0.8 million were written off and expensed in the statement of financial performance. ** Publications to the value of R0.6 million were written down in the statement of financial performance due to cost that exceeded the net realisable value. *** The Cafeteria closed on 31 August 2018. Sales prior to closure of the Cafeteria included internal sales to other HSRC departments.