Senwes Annual Financial Statements 2022 | Page 60

SENWES ANNUAL FINANCIAL STATEMENTS 2022
Total R ' m
GROUP Financial liabilities - 2021
Due within Due within 1 year 1-5 years
R ' m R ' m
Due after 5 years
R ' m
Other financial liabilities *
327
-
-
327
JD Implemente ( Pty ) Ltd loans
3
-
1
2
KLK Landbou Ltd loans
18
6
12
-
Agrinet ( Pty ) Ltd loans
93
14
79
-
Lease liabilities **
62
20
42
-
Interest-bearing loans ( short-term portion )
3,714
3,714
-
-
Interest on interest-bearing loans ( short-term portion )
120
120
-
-
Hinterland Holdings ( Pty ) Ltd loan
197
197
-
-
Bank overdrafts ***
638
638
-
-
Trade and other payables and contract liabilities ****
1,885
1,885
-
-
Derivative financial instruments , tax payable , incentive bonuses , provisions and other
loans payable *****
371
371
-
-
Total liabilities , including interest payable
7,428
6,965
134
329
* Company : R304 million . ** Company : R2 million . *** Company : R515 million . **** Company : R641 million . ***** Company : R451 million .
24.1.4 Capital maintenance guidelines
Capital includes equity attributable to the equity holders of the parent . The group maintains its own capital ratio within the following guidelines :
GROUP 2022
Own capital ratio
2021 Own capital ratio
Capital maintenance Total assets
11,111
10,450
Equity
3,740
3,313
Liabilities
7,371
7,137
Total equity and liabilities
11,111
10,450
Calculated rate (%)
34 %
32 %
Set target band (%)
35 % -45%
35 % -45%
The own capital ratio of 34 % is lower than the internal set target of 35 % - 45 %. This is mainly due to high inventory and debtor levels at year-end .
GROUP
2022 R ' m
2021 R ' m
Earnings before interest , tax , depreciation and amortisation ( EBITDA )
1,098
971
Finance costs
101
100
Calculated interest cover ( times )
10.9
9.7
Set target ( times )
> 2,5
> 2,5
The interest cover exceeds the minimum set target of 2,5 .
24.2 Fair value
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 making the measurements .
Carrying amount as at 30 April 2022
R ' m
Quoted prices in active markets for identical instruments
Level 1 R ' m
Significant other observable inputs Level 2
R ' m
Significant unobservable inputs Level 3
R ' m
Recurring measurements
Notes
Assets
Grain commodities
10
175
175
-
-
Inventory held to satisfy firm sales
12
47
-
47
-
Investment in financial assets at fair value through other comprehensive income
7.1.1
4
-
-
4
Investment in RealFin Collective Investment Scheme
8
24
-
24
-
Forward purchase contracts
20.1
594
594
-
-
Foreign exchange contracts
20.1
1
1
-
-
Total assets
845
770
71
4
Liabilities Commodity finance
7.2.2
93
93
-
-
Forward purchase contracts
20.2
24
24
-
-
Foreign exchange contracts
20.2
9
9
-
-
Safex futures
20.2
26
26
-
-
Total liabilities
152
152
-
-
Accounts receivable , loans receivable and loans payable at amortised cost approximate their fair value .
Fair value as at 30 April 2022
58

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