NOTES ( CONTINUED )
4 . FAIR VALUE OF INSTRUMENTS The following table summarises fair value measurements recognised in the statement of financial position or disclosed in the group ’ s financial statements by class of asset or liability and categorised by level according to the significance of inputs used in the measurements :
|
QUOTED |
|
|
|
PRICES IN |
|
|
CARRYING AMOUNT |
ACTIVE MARKETS FOR
IDENTICAL INSTRUMENTS
|
SIGNIFICANT OTHER
OBSERVABLE INPUTS
|
SIGNIFICANT UNOBSERVABLE
INPUTS
|
TOTAL R ’ m |
LEVEL 1 R ’ m |
LEVEL 2 R ’ m |
LEVEL 3 R ’ m |
31 October 2020 : Total assets 658 627 29 - Total liabilities 1 012 1 012 - -
30 April 2020 : Total assets 286 148 136 2 Total liabilities 113 113 - -
31 October 2019 : Total assets 747 716 29 2 Total liabilities 451 451 - -
Accounts receivable , loans receivable , loans payable , lease liabilities and deferred government grants at amortised cost approximate the fair value .
During the period there were no changes in levels or new items added .
5 . EVENTS AFTER THE REPORTING PERIOD
Group restructuring : Based on the recent acquisition of Suidwes and Hinterland , restructuring within the Senwes Group is required to unlock synergies between these companies . Significant changes after the reporting period are reflected below :
Senwes Credit ( division of Senwes ): The Senwes Credit division was transferred to Suidwes Landbou ( Pty ) (“ Suidwes Landbou ”) Ltd on 1 December 2020 . The future prospect of the company is to facilitate the credit divisions of both Senwes and Suidwes . The name of the company was changed to Agri Capital Solutions ( Pty ) Ltd .
Wholesale , retail and fuel divisions : Wholesale , retail and fuel divisions form part of Hinterland SA , Agrinet ( Pty ) Ltd (“ Agrinet ”) and Suidwes Landbou . The retail divisions housed in Hinterland SA and Suidwes Agriculture will be transferred to Hinterland Holdings , which will house the retail business of the combined group . The fuels division of Suidwes Agriculture will be transferred to Hinterland Fuels , which will be known as the fuels entity of the group . Agrinet is a wholesale business , held as a subsidiary in the Suidwes Africum Group . Agrinet ’ s main business is the warehousing and distribution of irrigation products , general merchandise and industrial products . The restructuring of Agrinet will transfer the operations into Hinterland SA after the retail division has been transferred back to Hinterland Holdings .
Mechanisation companies : Senwes Equipment ( Pty ) Ltd (“ Senwes Equipment ”) and Agrifriend Equipment ( Pty ) Ltd (“ Agrifriend Equipment ”) specialise in the sale of whole goods and equipment . The Senwes Equipment operations will be transferred into Agrifriend Equipment in order to consolidate the two mechanisation businesses .
8 AGRIBEL HOLDINGS INTERIM RESULTS 31 OCTOBER 2020