for the year ended 30 September

Notes to the annual financial statements

 
30.   Transfer of businesses  
  2011  
  Transfer of PABX business  
  With effect from 1 October 2010, the net assets and business of the PABX business were transferred from the Pansolutions division of Reunert to Nashua Communications (Pty) Limited at its net book value of R23,6 million.  

  Net assets transferred   PABX  
Rm  
Company  
Rm  
  Inventory   (7,7)  (7,7) 
  Accounts receivable   (14,3)  (14,3) 
  Payables and provisions   3,6   3,6  
  Property, plant and equipment and intangible assets   (0,3)  (0,3) 
  Goodwill   (4,9)  (4,9) 
  Transfer value   (23,6)  (23,6) 
        
  2010

Transfer of cellphone repair centre

With effect from 1 January 2010, the net assets and business of the cellphone repair centre were transferred from the Fuchs division of Reunert Limited to the Reutech Solutions division of Reutech Limited at its net book value of R5,2 million.

Transfer of airconditioning business

With effect from 1 November 2009, the net assets and business of the Panasonic airconditioning business were transferred from the Pansolutions division of Reunert Limited to the Reutech Solutions division of Reutech Limited at its net book value of R12,8 million.  

  Net assets transferred   A  
Cellphone  
repair centre  
Rm  
B  
Air-  
conditioning  
business  
Rm  
(A and B) 
Company  
Rm  
  Property, plant and equipment and intangible assets   (1,7)  –   (1,7) 
  Inventory   (1,5)  (13,2)  (14,7) 
  Accounts receivable   (2,7)  (4,2)  (6,9) 
  Payables and provisions   0,7   4,6   5,3  
  Transfer value   (5,2)  (12,8)  (18,0) 
  No disposals were made by the group in 2011 or 2010