4 . ACQUISITION AND DISPOSAL OF PROPERTY , PLANT AND EQUIPMENT During the six months ended 31 October 2022 , the group acquired property , plant and equipment to the value of R138 million . Property , plant and equipment with a book value of R29 million were disposed of during the same period .
5 . CAPITAL COMMITMENTS Commitments already contracted amount to R61 million and will be financed from operating activities . Commitments of R6 million have already been approved by the board but not contracted as yet .
6 . FAIR VALUE OF INSTRUMENTS The following table summarises fair value measurements recognised in the statement of financial position or disclosed in the group ’ s interim financial results by class of asset or liability and categorised by level according to the significance of inputs used in making the measurements :
Carrying amount Total 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
31 October 2022 ( Unaudited ): |
|
|
|
|
Total assets |
3 620 |
3 592 |
24 |
4 |
Total liabilities |
( 3 674 ) |
( 3 674 ) |
- |
- |
30 April 2022 ( Audited ): |
|
|
|
|
Total assets |
845 |
770 |
71 |
4 |
Total liabilities |
( 152 ) |
( 152 ) |
- |
- |
31 October 2021 ( Unaudited ): |
|
|
|
|
Total assets |
468 |
442 |
23 |
3 |
Total liabilities |
( 280 ) |
( 280 ) |
- |
- |
Accounts receivable , loans receivable , loans payable , lease liabilities and deferred government grants at amortised cost approximate the fair value .
During the period there was a significant increase in commodity financing as well as grain commodities measured at fair value as a result of increased on-balance sheet financing .
7 . EVENTS AFTER THE REPORTING PERIOD The directors are not aware of any material event which occurred after the reporting period and up to the date of this report .
8 . CHANGES IN ACCOUNTING STANDARDS Since the last reported financial statements , namely the annual financial statements for the year ended 30 April 2022 , no significant new standards were evaluated and implemented in the financial statements of the group .
20 Reimagine Agriculture