Non-current liabilities Current liabilities
2010 R’000
2009 R’000
46,170 84,036 130,206
43,269 89,237 132,506
Legal claims relate to contingent liabilities that may or may not be incurred by an entity depending on the outcome of a future event such as a court case. The description, nature and extent of the contingent liabilities provided for are outlined Case Description JF Bushkamp Cathedral Peak Road Maintenance
Legal representative Austen Smith Attorneys Ngcobo Poyo Attorneys
Extent of Liability Likelihood (R’000) 6,800 3,400 probable 600 600 probable 7,400 4,000
The organization has a broadform liability cover of R80 million which incorporates product liability. The total JF Bushkamp claim is R6.8 million. Once the case is finalised, a claim will be concluded with the insurers. The Cathedral Peak Road Maintenance has been incorporated into the organisations annual budget for road maintenance. The current legal claims provision is considered adequate considering the claim settlement expected from our insurers.
12. Trust funds and external projects Special projects incorporate internal projects funded through donations to the organization. The organization allocates a portion of the admission revenue to the community levy fund. The communities then propose projects for implementation by the organization. The emergency fund relates to funds set aside for rescue operations. Each of these funds are kept in separate bank accounts included in cash and cash equivalents. Special Projects Community Levy Emergency Services Chairman’s Trust Fund
Community Levy Reconciliation Opening balance Funds received during the year Interest accrued Community expenses incurred
16,956 19,638 2,510 1,186 40,290
22,204 19,275 2,510 1,186 45,175
19,275 3,216 1,016 -3,869 19,638
18,776 2,398 1,719 -3,618 19,275
11,806 17,225 13,782 42,813
32,642 21,733 14,549 68,924
13. Trade and other payables from exchange transactions Trade payables Deposits received Other payables- Projects
78
Celebrating 50 years of Wilderness