Annual Financial Statements for the year ended 30 June 2021 0 - Book - Page 107
Trade and other receivables are recognised initially at transaction price and subsequently stated at amortised cost using the
effective interest rate method, less impairment losses. A simplified expected credit loss model is applied for recognition and
measurement of impairments in trade receivables, where expected lifetime credit losses are recognised from initial recognition,
with changes in loss allowances recognised in profit and loss. The group did not use a provisional matrix. Trade and other
receivables are written off where there is no reasonable expectation of recovering amounts due. The trade receivables do not
contain a significant financing component.
for the year ended 30 June
2021
Rm
2020
Rm
17 197
960
4 323
157
13 535
3 516
3 837
276
155
2
88
188
22 637
9 074
4 785
174
21 164
7 188
7 086
319
36 670
35 757
SASOL LIMITED GROUP
CONSOLIDATED FINANCIAL STATEMENTS
Accounting policies:
Trade payables
Capital project related payables*
Accrued expenses
Related party payables
third parties
equity accounted investments
Trade payables
Other payables**
Duties payable to revenue authorities
Value added tax
*
Decrease as a result of reduced activity on the LCCP project as units reach beneficial operation.
** Other payables include employee-related payables.
NOTES TO THE FINANCIAL STATEMENTS
27 Trade and other payables
Accounting policies:
2021
Rm
2020
Rm
2019
Rm
(Increase)/decrease in inventories
(Increase)/decrease in trade receivables
Increase/(decrease) in trade payables
(4 872)
(7 198)
4 916
3 397
6 431
(3 990)
(829)
37
3 202
(Increase)/decrease in working capital
(7 154)
5 838
2 410
OTHER
28 (Increase)/decrease in working capital
SASOL LIMITED COMPANY
Trade and other payables are initially recognised at fair value and subsequently stated at amortised cost. Capital project related
payables are excluded from working capital, as the nature and risks of these payables are not considered to be aligned to
operational trade payables.
105
Sasol Annual Financial Statements 2021