29 |
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES |
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The categorisation of each class of financial asset and liability in terms of IAS 39 Financial Instruments: Recognition and Measurements is included below:
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|
|
Available- |
|
Liabilities at |
Total |
|
|
for-sale |
Loans and |
amortised |
carrying |
|
|
investments |
receivables |
cost |
value |
|
|
R’000 |
R’000 |
R’000 |
R’000 |
|
2015 |
|
|
|
|
|
Financial assets |
|
|
|
|
|
Investments |
281 780 |
|
|
281 780 |
|
Trade and other receivables |
|
410 325 |
|
410 325 |
|
Restricted cash |
|
450 000 |
|
450 000 |
|
Cash resources |
|
2 421 195 |
|
2 421 195 |
|
|
281 780 |
3 281 520 |
|
3 563 300 |
|
Financial liabilities |
|
|
|
|
|
Interest-bearing borrowings |
|
|
346 100 |
346 100 |
|
Trade and other payables |
|
|
304 408 |
304 408 |
|
Overdrafts |
|
|
960 866 |
960 866 |
|
|
|
|
1 611 374 |
1 611 374 |
|
|
|
|
|
|
|
|
Available- |
|
Liabilities at |
Total |
|
|
for-sale |
Loans and |
amortised |
carrying |
|
|
investments |
receivables |
cost |
value |
|
|
R’000 |
R’000 |
R’000 |
R’000 |
|
2014 |
|
|
|
|
|
Financial assets |
|
|
|
|
|
Investments |
424 601 |
|
|
424 601 |
|
Trade and other receivables |
|
383 923 |
|
383 923 |
|
Cash resources |
|
2 144 598 |
|
2 144 598 |
|
|
424 601 |
2 528 521 |
|
2 953 122 |
|
Financial liabilities |
|
|
|
|
|
Interest-bearing borrowings |
|
|
346 100 |
346 100 |
|
Trade and other payables |
|
|
447 104 |
447 104 |
|
Overdrafts |
|
|
538 588 |
538 588 |
|
|
|
|
1 331 792 |
1 331 792 |
|
Determination of fair values |
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Available-for-sale instruments 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. |
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Fair value hierarchy |
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The group uses the following hierarchy for determining and disclosing the fair value inputs of financial instruments:
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Level 1: quoted prices in an active market that are unadjusted for identical
assets or liabilities; |
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Level 2: valuation techniques using inputs, which are directly or indirectly
observable; and
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Level 3: valuations based on data that is not observable (not applicable to the group). |
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|
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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: |
|
|
|
|
|
|
2015 |
2014 |
|
|
R’000 |
R’000 |
|
Recurring fair value measurements |
|
|
|
Assets measured at fair value |
|
|
|
Available-for-sale investments |
233 972 |
377 988 |
|
Other investments* |
47 808 |
46 613 |
|
|
281 780 |
424 601 |
|
|
|
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