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NotestotheConsolidatedFinancialStatements

(continued)

RCS GROUP CONSOLIDATED FINANCIAL STATEMENTS

2015

34

for the period ended 31 December 2015

31 December 2015

31 March 2015

R’000

R’000

11.

Deferred Taxation

Deferred tax asset

172 629

91 019

172 629

91 019

Reconciliation of deferred tax asset:

At beginning of the period

91 019

15 137

Income statement expense:

- Provisions

15 338

16 509

- Assessed loss

10

(109)

- Capital allowances

750

71

- Allowance for impaired card and loan receivables

58 366

61 271

- Provision for recoveries

3 880

(8 735)

- Unrealised gain

(996)

(105)

Other comprehensive income

- Cash flow hedges

4 262

6 980

Balance at end of period

172 629

91 019

The balance at the end of period comprises temporary differences relating to:

- Provisions

66 445

51 107

- Assessed loss

10

- Capital allowances

1 013

263

- Allowance for impaired card and loan receivables

141 137

82 771

- Provision for recoveries

(34 529)

(38 409)

- Unrealised gains

(1 447)

(451)

- Cash flow hedges transferred to profit or loss

(4 262)

172 629

91 019

12.

Related Parties

31 December 2015

31 March 2015

Ultimate shareholder

BNP Paribas Société Anonyme

100%

100%

Amounts owing from group company

Redwood Third Party Processing Proprietary Limited

81

81

Amounts owing from group company was unsecured, interest free and payable within 30 days of the invoice.

R’000

R’000