HSRC Integrated Annual Report 2018/2019

122 / HSRC INTEGRATED ANNUAL REPORT 2018/19 PART E: ANNUAL FINANCIAL STATEMENTS 2019 March 2018 March R’000 R’000 20 Finance Cost Fair valuation cost of receivables and payables (1 252) (1 500) (1 252) (1 500) 21 Depreciation and Amortisation Depreciation on property, plant and equipment (13 905) (12 482) Amortisation on intangible assets (472) (563) (14 377) (13 045) 22 Reconciliation of Net Cash Flows from Operating Activities to Deficit for the Year Deficit for the year (552) (820) Adjustment for: Depreciation and amortisation 14 377 13 045 Bad debts provision movement 3 329 796 Net Loss on disposal of property, plant and equipment 622 696 Net foreign exchange loss (355) 820 Inventory written off 801 1 186 Other adjustments (839) 10 Items disclosed separately Receipts of sales of assets 72 (461) Operating surplus before working capital changes 17 455 15 272 Increase in VAT payable 5 866 - Decrease in inventories 93 1 150 (Increase)/Decrease in other receivables (4 730) 4 368 Decrease in VAT receivable 382 5 399 Decrease in post-retirement medical benefit (390) (397) Increase in trade receivables (12 008) (5 896) Increase in pre-payments (85) (142) Decrease in income received in advance (3 766) (17 435) Increase/(Decrease) in trade and other payables 6 557 (12 956) Movement in provisions (5 578) (219) Movement in lease accruals (2) 129 Movement in lease commitments (373) 276 Cash utilised by opperations 3 421 (10 451) NOTES TO THE ANNUAL FINANCIAL STATEMENTS for the year ended 31 March 2019 (Continued)