SENWES ANNUAL FINANCIAL STATEMENTS 2022
2021 - Reconciliation of movements on property , plant and equipment
Balance at the beginning of the year R ' m
Business combinations
1
R ' m
Purchases R ' m
Disposals 2
R ' m
Impairments R ' m
Depreciation R ' m
Balance at the end of the year
R ' m
GROUP - 2021 Land |
16 |
55 |
2 |
1 |
- |
- |
74 |
Silos |
31 |
313 |
7 |
4 |
( 2 ) |
- |
353 |
Buildings and improvements |
485 |
444 |
28 |
( 7 ) |
( 7 ) |
( 12 ) |
931 |
Plant and equipment |
628 |
146 |
133 |
( 3 ) |
( 4 ) |
( 93 ) |
807 |
Vehicles |
64 |
34 |
16 |
( 7 ) |
2 |
( 11 ) |
98 |
Heavy vehicles |
65 |
11 |
2 |
( 62 ) |
- |
( 6 ) |
10 |
Total |
1,289 |
1,003 |
188 |
( 74 ) |
( 11 ) |
( 122 ) |
2,273 |
1 Relates to the acquisition of Suidwes Holdings ( Pty ) Ltd , Hinterland Holdings ( Pty ) Ltd and Suidwes IT Solutions ( Pty ) Ltd . Refer to note 6.1 for more details
regarding the acquisitions .
COMPANY - 2021 Land |
6 |
( 1 ) |
- |
( 1 ) |
- |
- |
4 |
Silos |
31 |
1 |
6 |
- |
- |
- |
38 |
Buildings and improvements |
213 |
( 2 ) |
17 |
- |
- |
( 10 ) |
218 |
Plant and equipment |
481 |
2 |
91 |
( 2 ) |
- |
( 55 ) |
517 |
Vehicles |
26 |
( 1 ) |
20 |
( 1 ) |
- |
( 5 ) |
39 |
Total |
757 |
( 1 ) |
134 |
( 4 ) |
- |
( 70 ) |
816 |
2 The disposals at company level include the disposal of Senwes Limited ' s credit division to a separate legal entity , Agri Credit Solutions ( Pty ) Ltd , which resulted
in a common control transaction . The carrying value of the assets sold was R1 million .
3 . INVESTMENT PROPERTIES
GROUP 2022 R ' m
2021 R ' m
COMPANY 2022 R ' m
Cost |
2 |
13 |
1 |
1 |
Accumulated depreciation and impairments |
- |
- |
- |
- |
Total carrying value |
2 |
13 |
1 |
1 |
2022 - Reconciliation of movements on investment property
2021 R ' m
Balance at the beginning of the year R ' m
Business combinations
R ' m
Additions R ' m
Transfers 1
R ' m
Depreciation R ' m
Balance at the end of the year
R ' m
GROUP - 2022 |
|
|
|
|
|
|
Land and buildings |
13 |
- |
- |
( 11 ) |
- |
2 |
Total |
13 |
- |
- |
( 11 ) |
- |
2 |
1 NviroTek Laboratories ( Pty ) Ltd (" NviroTek ") currently leases a portion of property to external tenants . NviroTek now occupies the significant portion of the
building and subsequently transferred this asset to property , plant and equipment during November 2021 . Refer to note 2 .
COMPANY - 2022 |
|
|
|
|
|
|
Land and buildings |
1 |
- |
- |
- |
- |
1 |
Total |
1 |
- |
- |
- |
- |
1 |
2021 - Reconciliation of movements on investment property
Balance at the beginning Business of the year combinations 1 R ' m
R ' m
Additions R ' m
Transfers R ' m
Depreciation R ' m
Balance at the end of the year
R ' m
GROUP - 2021 |
|
|
|
|
|
|
Land and buildings |
1 |
12 |
- |
- |
- |
13 |
Total |
1 |
12 |
- |
- |
- |
13 |
1 Consists of investment property of R12 million which originated from the acquisition through business combination of Suidwes Holdings . Refer to note 6.1 for
more details regarding the acquisition .
COMPANY - 2021 |
|
|
|
|
|
|
Land and buildings |
- |
- |
1 |
- |
- |
1 |
Total |
- |
- |
1 |
- |
- |
1 |
3.1 . 3.2 .
A register of investment property is available for inspection at the registered office of the relevant company . The fair value of land and buildings is estimated at R7 million ( 2021 : R18 million ). The capitalisation method was used as the valuation method . Higher rates of return , occupation levels and lower expected market-related rental value will reduce fair value .
22
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