6.3.1 |
JD Implemente ( Pty ) Ltd |
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Senwes has a 50 % interest in JD Implemente ( Pty ) Ltd (“ JDI ”). JDI is accounted for as a subsidiary due to the fact that Senwes appoints the | |||
chairman of the board and where the shareholders disagree , the chairman has the casting vote . JDI ’ s core business is the sale of mechanisation | |||
goods , spare parts and rendering of workshop services in the Eastern and Western Cape . The financial year-end is the same as Senwes ' financial | |||
year-end . The registered office of the company is in Swellendam , South Africa . | |||
The following is the summarised financial information : | |||
2021 R ' m
|
2020 R ' m
|
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Financial position Non-current assets |
33 |
35 |
|
Current assets excl bank and cash |
88 |
68 |
|
Cash and cash equivalents |
13 |
1 |
|
Trade payables |
( 66 ) |
( 43 ) |
|
Current financial liabilities , excluding trade payables |
( 4 ) |
( 4 ) |
|
Non-current liabilities |
( 17 ) |
( 21 ) |
|
Equity attributable to subsidiary |
47 |
36 |
|
Attributable to : Equity holders of the parent |
24 |
18 |
|
Non-controlling interest |
23 |
18 |
|
Financial results Revenue |
318 |
207 |
|
Cost of sales |
( 267 ) |
( 169 ) |
|
Other income |
4 |
2 |
|
Depreciation and amortisation |
( 1 ) |
( 2 ) |
|
Expenses |
( 37 ) |
( 38 ) |
|
Finance cost |
( 2 ) |
( 4 ) |
|
Profit /( loss ) before tax |
15 |
( 4 ) |
|
Taxation |
( 4 ) |
1 |
|
Profit /( loss ) after tax |
11 |
( 3 ) |
|
Non-controlling interest share in profit or loss |
6 |
( 2 ) |
|
Dividends paid to non-controlling shareholders |
- |
- |
Summarised cash flows are as follows : Generated from /( Utilised by ) operating activities |
16 |
( 8 ) |
Used in investing activities |
( 1 ) |
( 2 ) |
Used in financing activities |
( 3 ) |
( 3 ) |
Net increase /( decrease ) in cash flows |
12 |
( 13 ) |