14
NOTES
7. 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 assets or liabilities and categorised
by level according to the significance of inputs used in making the
fair value measurements.
Carrying
amount
Total
R’m Quoted
prices in
active
markets for
identical
instruments
Level 1
R’m 762 730 27 5
Total assets 481 450 27 4
Total liabilities 215 215 - -
1 519 1 489 26 4
609 609 - -
31 October 2018:
Total assets
Total liabilities
30 April 2018:
31 October 2017:
Total assets
Total liabilities
404
404
Significant
other
Significant
observable
unobser
inputs vable inputs
Level 2
Level 3
R’m
R’m
-
-
Accounts receivable, loans receivable and loans payable at amortised cost approximate the
fair value.
During the period under review there were no changes in levels or
new items added.
8. EVENTS AFTER THE REPORTING PERIOD
Hinterland SA (Pty) Ltd (“Hinterland”) is in the process of integrating
its operations with Prodist (Pty) Ltd (“Prodist”). The effective date of
the integration is 1 December 2018. The integration constitutes a
common control transaction and the net assets are transferred to
Prodist at their carrying value.
Except for the above, the directors are not aware of any other ma-
terial events which occurred after the reporting period and up to
the date of this report.
9. CHANGES IN ACCOUNTING POLICIES
Since the last reported annual financial statements for the year en
ded 30 April 2018, the group’s accounting policies changed to
adopt IFRS 9, Financial Instruments and IFRS 15, Revenue from
Contracts with Customers. The requirements of these new stan
dards were evaluated and are not expected to have a material finan-
cial impact on the financial statements of the group. However, these
standards have additional disclosure requirements.
senwes interim results 31 october 2018