Senwesbel Consolidated Financial Statements | Page 71

FAIR VALUE AS AT 30 APRIL 2019 CARRYING AMOUNT QUOTED PRICES IN ACTIVE MARKETS FOR IDENTICAL INSTRUMENTS OTHER SIGNIFICANT OBSERVABLE INPUTS SIGNIFICANT UNOBSER- VABLE INPUTS TOTAL LEVEL 1 LEVEL 2 LEVEL 3 Recurring measurements NOTES R’m R’m R’m R’m Assets Grain commodities 10 155 155 - - Inventory held to satisfy firm sales 12 234 - 234 - Investment in financial assets at fair value through other comprehensive income Investment in RealFin Collective Investment Scheme 7.1.1 5 - - 5 8.2 28 - 28 - Safex futures 20.1 52 52 - - Investment in Senwes (company) 6.1 1 052 1 052 - - Total assets 1 526 1 259 262 5 Liabilities Commodity finance 7.2.2 121 121 - - Forward purchase contracts 20.2 28 28 - - Safex futures 20.2 2 2 - - Total liabilities 151 151 - - Techniques used to determine fair value measurements categorised in level 1: All items categorised in level 1 are revalued by applying the market value as determined by Safex (South African Futures Exchange). However, the investment in Senwes Limited is revalued based on the traded share prices as indicated on ZARX. Techniques used to determine fair value measurements categorised in level 2: RealFin Collective Investment Scheme’s inputs can indirectly be observed through the cash balances and financial position of the fund. Techniques used to determine fair value measurements categorised in level 3: Suidwes Holdings investment The shares of Suidwes Holdings are still traded on the OTC market, but not actively. During the current financial year the investment has been fully impaired due to recoverability concerns. The investment is therefore valued at Rnil in the financial statements. Also refer to note 7.1.1. Investments held by Thobo Trust Shares held by Thobo Trust in Hinterland Fuels (Pty) Ltd and Oos-Transvaal Kalkverskaffers (Pty) Ltd. These companies are both private companies and discounted cash flow calculations were used to determine the fair values. Senwesbel Limited Reg no: 1996/017629/06 SENWESBEL ANNUAL FINANCIAL STATEMENTS 2020 70