The categorisation of each class of financial asset and liability in terms of IFRS 9: Financial Instruments (2018: IAS 39: Financial
Instruments: Recognition and Measurement) is included below:
| |
|
In terms of IFRS 9 |
|
| |
|
Financial
assets
measured
at fair value
through
other
comprehensive
income
R’000 |
Financial
assets
measured
at fair value
through profit
or loss
R’000 |
Financial
assets at
amortised
cost
R’000 |
Financial
liabilities
at
amortised
cost
R’000 |
Total
carrying
value
R’000 |
|
| 2019 |
|
|
|
|
|
|
|
| Financial assets |
|
|
|
|
|
|
|
| Financial assets measured at fair value through other comprehensive income |
|
317 795 |
|
— |
|
317 795 |
|
| Financial assets measured at fair value through profit and loss |
|
— |
3 354 |
— |
|
3 354 |
|
| Long-term loan |
|
— |
— |
9 320 |
|
9 320 |
|
| Trade and other receivables |
|
— |
— |
1 677 280 |
|
1 677 280 |
|
| Cash resources |
|
— |
— |
10 395 268 |
|
10 395 268 |
|
| |
|
317 795 |
3 354 |
12 081 868 |
|
12 403 017 |
|
| Financial liabilities |
|
|
|
|
|
|
|
| Trade and other payables |
|
|
|
|
2 087 945 |
2 087 945 |
|
| Taxation |
|
|
|
|
14 907 |
14 907 |
|
| Overdrafts |
|
|
|
|
1 391 564 |
1 391 564 |
|
| |
|
|
|
|
3 494 416 |
3 494 416 |
|
The classification of financial assets and liabilities is included below:
| |
|
In terms of IAS 39 |
|
| |
|
Available-
for-
sale
investments
R’000 |
Loans and
receivables
R’000 |
Liabilities at
amortised
cost
R’000 |
Total
carrying
value
R’000 |
|
| 2018 |
|
|
|
|
|
|
| Financial assets |
|
|
|
|
|
|
| Listed and unlisted investments |
|
269 571 |
— |
|
269 571 |
|
| Long-term loan |
|
— |
6 000 |
|
6 000 |
|
| Trade and other receivables |
|
— |
1 222 327 |
|
1 222 327 |
|
| Cash resources |
|
— |
8 449 797 |
|
8 449 797 |
|
| |
|
269 571 |
9 678 124 |
|
9 947 695 |
|
| Financial liabilities |
|
|
|
|
|
|
| Trade and other payables |
|
|
|
2 039 587 |
2 039 587 |
|
| Taxation |
|
|
|
24 059 |
24 059 |
|
| Overdrafts |
|
|
|
584 472 |
584 472 |
|
| |
|
|
|
2 648 118 |
2 648 118 |
|
Determination of fair values
Listed investments disclosed as financial assets measured at fair value through other comprehensive income and unlisted
investments disclosed as financial assets measured at fair value through profit or loss (2018: Listed and unlisted investments) are
valued using quoted market prices. The values of other investments and forward exchange contracts are determined using directly
observable inputs. The carrying amounts of all other financial assets and liabilities approximate their fair values.
Fair value hierarchy
The group uses the following hierarchy for determining and disclosing the fair value inputs of financial instruments:
Level 1: quoted prices in an active market that are unadjusted for identical assets or liabilities;
Level 2: valuation techniques using inputs, which are directly or indirectly observable; and
Level 3: valuations based on data that is not observable.
The values of all other instruments recognised, but not subsequently measured at fair value, approximate fair value. The following
assets, all measured at level 1, were required to be recorded at fair value as follows:
| |
|
2019
R’000 |
|
|
|
2018
R’000 |
|
| Financial assets measured at fair value through other comprehensive income
(2018: Available-for-sale listed investments) |
|
317 795 |
|
|
|
262 003 |
|
| Financial assets measured at fair value through profit or loss
(2018: Available-for-sale unlisted investments) |
|
3 354 |
|
|
|
7 568 |
|
| |
|
321 149 |
|
|
|
269 571 |
|
|