16. FINANCE INCOME
  Accounting policy
  Finance income is recognised using the effective interest method. When a loan or receivable is impaired, BLT reduces the carrying amount to its recoverable amount, being the estimated future cash flow discounted at the original effective interest rate of the instrument and continues unwinding the discount as finance income. Finance income on impaired loans and receivables is recognised using the original effective interest rate.
 
    2024
R’000
  2023
R’000
Interest received        
Bank   138   432
South African Revenue Service   2  
Deposits*   1 682  
Total finance income   1 822   432
 
* Interest earned on funds deposited with Lombard Insurance Company Limited which has been fully refunded.