Page 124

AFRICAN DAWN 2015 Annual Report

Notes to the Financial Statements continued 44. Risk management (continued) AFRICAN DAWN 122 ANNUAL REPORT 2015 Liquidity risk Group 2015 R’000 Not later than 1 month 1 month to 3 months 3 to 12 months 1 year to 3 years More than 3 years Borrowings 169 2,130 10,648 16,944 2,875 Finance lease liabilities 30 91 75 - Loans from directors 61 182 487 4,582 - Trade and other payables 2,785 353 285 3,558 - 3,015 2,695 11,511 25,159 2,875 Group 2014 R’000 Not later than 1 month 1 month to 3 months 3 to 12 months 1 year to 3 years More than 3 years Borrowings 165 2,065 9,088 24,966 6,020 Finance lease liabilities - 30 91 197 - Trade and other payables 2,962 328 - 3,712 - 3,127 2,423 9,179 28,875 6,020 Company 2015 R’000 Not later than 1 month 1 month to 3 months 3 to 12 months 1 year to 3 years More than 3 years Borrowings - - 1,750 - - Loans from group companies - - 6,932 - - Loans from directors 61 182 487 4,582 - Trade and other payables 774 - 3,559 - - 835 182 12,728 4,582 - Company 2014 R’000 Not later than 1 month 1 month to 3 months 3 to 12 months 1 year to 3 years More than 3 years Borrowings - 79 1,829 - - Loans from group companies - - 6,943 - - Trade and other payables 1,793 - 3,712 - - 1,793 79 12,484 - - Interest rate risk The sensitivity analyses below has been determined based on the exposure to interest rates for non-derivative instruments at the statement of financial position date. For floating rate liabilities, the analysis is prepared assuming the amount of liability outstanding at the statement of financial position date was outstanding for the whole year. A 100 basis points increase or decrease is used when reporting interest rate risk internally to key management personnel and represents management’s assessment of the reasonably possible change in interest rates. If interest rates had been 100 basis points higher or lower and all other variables were held constant, the Group’s loss for the period would change by R50 070 (2014: R85 887) (company: Rnil (2014: R17 000). The Group and company’s sensitivity to interest rates has decreased during the current period mainly due to the restructuring in variable rate debt instruments (refer to note 17). A 100 basis points increase would increase revenue on unsecured lending by an estimated R273 522 (2014: R372 773). A 100 basis points increase would increase finance costs on borrowings linked to prime by an estimated R223 452 (2014: R286 886) (refer to note 17).


AFRICAN DAWN 2015 Annual Report
To see the actual publication please follow the link above