Annual Financial Statements for the year ended 30 June 2021 0 - Book - Page 149
3
2021
Rm
2020
Rm
Deferred tax asset
Reconciliation
Balance at beginning of year
Current year charge per the income statement
16
Balance at end of year
372
(166)
359
13
206
372
SASOL LIMITED GROUP
CONSOLIDATED FINANCIAL STATEMENTS
Note
2021
Rm
2020
Rm
304
62
498
–
Less: Expected credit loss¹
366
(1)
498
(1)
Prepaid expenses²
365
–
497
365
365
862
Note
4
Other receivables and prepaid expenses
Related party receivables – intercompany receivables
Other receivables
22
1 Refer to note 23 for details on expected credit loss calculation.
2 Prepaid expenses in the prior year relate mainly to standby underwriters fees, legal fees and other cost incurred in relation to a potential rights issue
as announced on 17 March 2020.
NOTES TO THE FINANCIAL STATEMENTS
A deferred tax asset has been recognised to the extent that it is probable that the entity will generate future taxable income against
which this temporary difference can be utilised and consists mainly of movements in financial liabilities.
Fair value of other receivables
5
2021
Rm
2020
Rm
Cash
Cash – deposit with Group Treasury
7
1 363
1
5 755
Cash – Per the statement of cash flows
Less: Expected credit loss*
1 370
(1)
5 756
(3)
1 369
5 753
2021
Rm
2020
Rm
1 466
(44)
(161)
(527)
1 387
60
263
(382)
734
(273)
1 328
(456)
461
872
116 718
200 193
Cash and cash equivalents
* Refer to note 23 for details on expected credit loss calculation.
SASOL LIMITED COMPANY
The carrying amount approximates fair value due to the short period to maturity of these receivables.
Fair value of cash
The carrying amount of cash approximates fair value.
Long-term financial liabilities
Non-derivative instruments
Financial guarantees recognised
Expected credit loss adjustment
Translation difference
Less: amortisation of financial guarantees
Less: short-term portion of financial guarantees
Arising on long-term financial instruments
Guarantees – maximum exposure
147
Sasol Annual Financial Statements 2021
OTHER
6