AFRICAN DAWN ANNUAL REPORT 2017 Notes to the Financial Statements Annual Financial Statements For the year ended 28 February 2017 continued 85 c. Rentals of properties in possession This segment consists of a residential complex with 76 units (a mix of 2 and 3 bedrooms), that are rented out on annual leases to individuals. d. Other Other consists of the holding company together with other smaller entities not dealt with in other segments. Segment information has been restated to comply with the segments identified above. All the segments operate only in South Africa, largely in the Gauteng and Western Cape provinces therefore no geographical information is provided. Similarly all non-current assets are in South Africa. 2017 Group Investment advisory and investment management R’000 Micro finance R’000 Rentals of properties in possession R’000 Other R’000 Total R’000 Revenue 10,712 21,361 4,753 165 36,991 Cost of sales 366 - - - 366 Other income 35 788 484 80 1,387 Investment income 23 29 30 1 84 Finance costs - 1,434 685 1,126 3,245 Operating expenses 12,581 21,163 4,934 6,202 44,880 Impairment trade and other receivables 261 1,344 (68) 130 1,667 Bad debts actually written off - 2,641 133 - 2,774 Impairment of goodwill 450 - - 2,947 3,397 Deemed interest - - - 585 585 Impairment to property in possession - - 971 - 971 Depreciation and amortisation 53 527 4 1,380 1,964 Reduction of liability to Nexus liquidator - 2,162 - - 2,162 Profit/(loss) before taxation (2,176) 1,402 (352) (11,694) (12,820) Taxation (455) - 193 (370) (632) Other comprehensive income - - - - - Total comprehensive (1,721) 1,402 (545) (11,324) (12,188) Segment total assets 1,766 23,665 16,902 16,452 58,785 Segment total liabilities 1,581 11,692 8,334 26,865 48,472 Intangible assets acquired 30 274 - - 304 Goodwill - - - 4,679 4,679 Property, plant and equipment acquired - 44 - - 44
AFRICAN DAWN 2017
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