6.3 FINANCIAL INFORMATION OF SUBSIDIARIES
Only subsidiaries with significant non-controlling interest will be disclosed. The following is the financial information of
subsidiaries with significant non-controlling interest. A full list of subsidiaries is available for inspection at the registered
office of the company.
6.3.1 JD Implemente (Pty) Ltd
Senwes has a 50% interest in JD Implemente (Pty) Ltd (“JDI”). JDI is accounted for as a subsidiary due to the fact that
Senwes appoints the chairman of the board and where the shareholders disagree, the chairman has the casting
vote. JDI’s core business is the sale of mechanisation goods, spare parts and the rendering of workshop services in
the Eastern and Western Cape. The financial year-end is the same as Senwes’ financial year-end. The registered
office of the company is in Swellendam, South Africa.
The following is the summarised financial information:
2020 2019
R’m
R'm
Financial position
Non-current assets 35 33
Current assets excl bank and cash 68 103
Cash and cash equivalents 1 14
Trade payables
(43) (82)
Current financial liabilities, excluding trade payables (4) ( 5)
Non-current liabilities (21) (24)
Equity 36 39
Attributable to:
Equity holders of the parent 18 19
Non-controlling interest 18 20
Financial results
Revenue 207 328
Cost of sales
(169) (278)
Other income 2 1
Depreciation and amortisation (2) (2)
Expenses
Finance costs
(38) (39)
(4) (7)
(Loss)/profit before tax (4) 3
Tax 1 (1)
(Loss)/profit after tax (3) 2
Non-controlling interest share in profit or loss (2) 1
Dividends paid to non-controlling shareholders - -
Summarised cash flows are as follows:
(Used in)/generated from operating activities (8) 16
Used in investing activities (2) (2)
Used in financing activities (3) (3)
Net (decrease)/increase in cash flows (13) 11
27
SENWESBEL ANNUAL FINANCIAL STATEMENTS 2020 Senwesbel Limited Reg no: 1996/017629/06