Page 92 - Learn Africa 2021 Annual Report

Learn Africa Plc
Notes to the Financial Statements (cont’d)

For the year ended 31 March 2021

* Other payables represent deposit made on account by customers yet to be identified,
payable to the contractor handling the construction of investment properties and
payable to staff.
** Sundry creditors represent provision for audit fee, legal and professional fees and
payable to contractor of investment property.

Reconciliation of changes in trade and other payables included in the statement of cash
flow
31-Mar-21 31-Mar-20
$’000 $’000
Movement in trade and other payables (535,619) (636,046)
Movement in unclaimed dividend (3,374) 25,582
Changes in trade and other payables per statement
of cash flow (538,993) (610,464)
Terms and conditions of the above financial liabilities:
Trade payables are non-interest bearing and are normally settled on 60 days terms.
Other payables are non-interest bearing and have an average term of 1 month.

The maturity analysis of trade and other payables are as follows:

31 March 2021 1-60 61-120 > 120 Total
days days days
$’000 $’000 $’000 $’000
Trade payables 299,900 - - 299,900
Other payables 182,003 - - 182,003

31 March 2020
Trade payables 678,836 - - 678,836
Other payables 169,411 - - 169,411

* Other payables maturity analysis consists of sundry creditors, litigation and other
payables disclosed above.

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