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AFRICAN DAWN 2018 Annual Report

AFRICAN DAWN ANNUAL REPORT 2018 Notes to the Financial Statements continued Annual Financial Statements For the year ended 28 February 2018 Analysis of the statement of profit or loss and other comprehensive income (“SOCI”) 84 The SOCI is analysed below: Group 2018 R’000 Loans and receivables Liabilities at amortised cost Not a financial instrument Balance SOCI Interest income - normal and deemed 12,450 - - 12,450 Interest income - on impaired financial assets 271 - - 271 Interest expense normal and deemed reversed/(raised) 433 (1,114) - (681) Impairment (8,645) - - (8,645) Group 2017 R’000 Loans and receivables Liabilities at amortised cost Not a financial instrument Balance SOCI Interest income - normal and deemed 15,835 - - 15,835 Interest income - on impaired financial assets 40 - - 40 Interest expense normal and deemed reversed/(raised) (585) (1,718) (842) (3,145) Impairment (4,442) - - (4,442) Company 2018 R’000 Loans and receivables Liabilities at amortised cost Not a financial instrument Balance SOCI Interest income - normal and deemed - - - - Interest income - on impaired financial assets - - - - Interest expense normal reversed/(raised) - (63) - (63) Impairment (7,110) - - (7110) Company 2017 R’000 Loans and receivables Liabilities at amortised cost Not a financial instrument Balance SOCI Interest income - normal and deemed 117 - - 117 Interest income - on impaired financial assets - - - - Interest expense normal reversed/(raised) - (143) (711) (854) Impairment (1,736) - - (1,736) 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 41.


AFRICAN DAWN 2018 Annual Report
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