Senwes Annual Financial Statements 2022 | Page 69

SENWES ANNUAL FINANCIAL STATEMENTS 2022
32 . OTHER LOANS RECEIVABLE / PAYABLE
GROUP 2022 R ' m
2021 R ' m
COMPANY 2022 R ' m
Notes
Loans from related parties
Additional loans received from related parties
7.2.1
-
37
-
125
Total repayment of loans from related parties
( 32 )
( 98 )
( 239 )
-
Repayment of loans from related parties
7.2.1
( 32 )
-
( 239 )
-
Movement in loans from related parties due to business combination
6.1
-
( 98 )
-
-
Movement in loans from related parties
( 32 )
( 61 )
( 239 )
125
Loans to related and third parties Total loans advanced to related and third parties
-
( 17 )
-
( 1,397 )
Loans advanced to related and third parties
7.1.2
-
( 17 )
-
( 4,746 )
Impairment reversal of loans
-
-
-
7
Movement in loans advanced to related parties due to business combination
6.1
-
-
-
3,342
Total repayment of additional loans to related and third parties
19
140
257
234
Repayment of loans to related and third parties
7.1.2
17
513
257
251
Adjustments to movements already considered in note 27 and in business combinations
-
-
-
Impairments of loans
-
-
-
( 18 )
Movement in repayment of loans to related parties due to business combination
6.1
2
( 372 )
-
-
Forex
-
( 1 )
-
1
Movement in loans to related and third parties
19
123
257
( 1,163 )
33 . UNUTILISED FUNDING FACILITIES
An unutilised short-term facility of R1,2 billion ( 2021 : R1,3 billion ) is available for growth opportunities and unexpected events .
At year-end , Senwes had unpledged commodities and unencumbered assets of R112 million ( 2021 : R27 million ) and R5,0 billion ( 2021 : R4,7 billion ) respectively .
2021 R ' m
34 . CHANGE IN PRESENTATION OF OTHER OPERATING INCOME
During the year , the group adjusted its presentation of other operating income and other statement of comprehensive income line items . The change results in other operating income presented as a separate line on the face of the statement of comprehensive income , due to the significance thereof . Prior to this change in presentation , the group recognised other operating income in different line items on the face of the statement of comprehensive income as indicated below . Other statement of comprehensive income line items were also reviewed and adjusted in terms of appropriate presentation thereof .
The group believes this presentation is preferable as it aligns the nature of transactions and will aid financial analysis . This constitutes a reclassification of amounts to ensure improved presentation and comparability .
The impact of this voluntary change in presentation on the consolidated financial statements is limited to the statement of comprehensive income and the statement of cash flows . The impact on each line item of the consolidated financial statements is as follows :
GROUP 2022 R ' m
2021 R ' m
COMPANY 2022 R ' m
Statement of comprehensive income
( Decrease )/ increase in services rendered
( 37 )
5
23
56
( Decrease )/ increase in finance income
-
-
5
5
Decrease in income from sale of goods
( 84 )
( 117 )
( 88 )
( 105 )
Decrease in revenue
( 121 )
( 112 )
( 60 )
( 44 )
Increase in cost of sales
( 15 )
( 41 )
( 37 )
( 37 )
Decrease in gross profit
( 136 )
( 153 )
( 97 )
( 81 )
Increase in other operating income
128
126
63
36
( Increase )/ decrease in distribution , sales and administrative expenses
( 6 )
10
16
30
Decrease in operating profit
( 14 )
( 17 )
( 18 )
( 15 )
Increase in finance income
19
15
16
14
( Increase )/ decrease in finance cost
( 5 )
2
2
1
Net adjustment in profit before tax from operations
-
-
-
-
Statement of cash flows Decrease in cash from operating activities ( outflow )
( 14 )
( 17 )
( 18 )
( 15 )
Increase in finance income received ( inflow )
19
15
16
14
( Increase )/ decrease in finance costs paid ( outflow / inflow )
( 5 )
2
2
1
Net adjustment in net cash flows from operating activities
-
-
-
-
35 . STANDARDS ISSUED BUT NOT YET EFFECTIVE
At the reporting date , there are no standards issued but not yet effective which are deemed to have a material impact on the group in future periods .
2021 R ' m

Reimagine Agriculture

67