AFRICAN DAWN ANNUAL REPORT 2017 Notes to the Financial Statements Annual Financial Statements For the year ended 28 February 2017 continued Analysis of the statement of profit or loss and other comprehensive income (“SOCI”) No financial instruments are classified as held to maturity, available for sale or at fair value through profit or loss. The SOCI is analysed below: Group 2017 R’000 Loans and receivables 80 Liabilities at amortised cost Not a financial instrument Balance SOCI Interest income - normal and deemed 17,879 - 933 18,812 Interest income - on impaired financial assets 2,566 - - 2,566 Interest expense normal and deemed 585 2,403 842 3,830 Impairment 2,774 - - 2,774 Group 2016 R’000 Loans and receivables Liabilities at amortised cost Not a financial instrument Balance SOCI Interest income - normal and deemed 22,992 - 7 22,999 Interest income - on impaired financial assets 2,225 - - 2,225 Interest expense normal and deemed - 2,633 937 3,570 Impairment 1,906 - - 1,906 Company 2017 R’000 Loans and receivables Liabilities at amortised cost Not a financial instrument Balance SOCI Interest income - normal and deemed 116 - 905 1,020 Interest income - on impaired financial assets - - - - Interest expense normal and deemed 1,360 143 711 2,214 Impairment 377 - - 377 Company 2016 R’000 Loans and receivables Liabilities at amortised cost Not a financial instrument Balance SOCI Interest income - normal and deemed 753 92 - 844 Interest income - on impaired financial assets - - - - Interest expense normal and deemed 2,710 265 3,344 6,319 Impairment 17,058 - - 17,058 Credit risk Maximum exposure The amount that best represents the group’s maximum exposure to credit risk is as follows: • Granting of loans and receivables to customers and other parties - the maximum exposure to credit risk is the carrying amount of the related financial assets. (I.e. net of any impairment losses recognised in accordance with IAS 39). • Placing deposits with banks - the maximum exposure to credit risk is the carrying amount of the related financial assets. • Granting financial guarantees - the maximum exposure to credit risk is the maximum amount the group could have to pay if the guarantee is called on, which may be significantly greater than the amount recognised as a liability or contingent liability. The maximum exposure as a result of such contracts is disclosed in note 34.
AFRICAN DAWN 2017
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