Page 71 - annualreport2020

AFRICAN DAWN ANNUAL REPORT 2020

Notes to the Financial Statements continued
Annual Financial Statements For the year ended 29 February 2020

Borowings Loans from group Directors
2020 Company R'000 non-current companies loans Total
Opening balance 409 (9,169) 2,820 (5,940)
Cash movements 288 1,007 703 1,998
Borrowings repaid current (12) 1,162 (505) 645
Group loans advanced - (155) - (155)
Advances on existing current 300 - 1,208 1,508
Non-cash movements (359) 8,119 (2,897) 4,863
Put option exercised* (397) 3,673 (2,946) 330
Finance costs 38 - 49 87
Movement in impairment - 4,446 - 4,446
Closing balance 338 (43) 626 921

* Refer to note 14 for details on the option was exercised by the directors.

Borowings Borowings Directors
2019 Group R'000 non-current current loans Total
Opening balance 4,031 4,259 685 8,975
Cash movements - (787) 2,135 1,348
Borrowings repaid - (4,628) (967) (5,595)
Advances on existing - 3,841 3,102 6,943
Advances new current - - - -
Non-cash movements (3,600) 3,302 - (298)
Transfer of borrowings to current (3,600) 3,600 - -
Disposal of subsidiary - (298) - (298)
Closing balance 431 6,774 2,820 10,025

Borowings Loans to group Directors
2019 Company R'000 non-current companies loans Total
Opening balance - (9,276) 685 (8,591)
Cash movements 606 (329) 2,135 2,412
Borrowings repaid current (945) (2,346) (967) (4,258)
Group loans advanced - (398) - (398)
Advances on existing current 1,551 2,415 3,102 7,068
Non-cash movements (197) 437 - 240
Offset of directors loans (197) - - (197)
IFRS 9 adjustment - 1,130 - 1,130
Movement in impairment - (693) - (693)
Closing balance 409 (9,168) 2,820 (5,939)

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