MENU Notes to the financial statementsfor the year ended 30 June 2015

  1. Accounting policies
  2. Definitions
  3. Revenue
  4. Cost of sales
  5. Trading profit
  6. Share-based payments
  7. Finance revenue
  8. Finance cost
  9. Taxation
  10. Earnings per share
  11. Headline earnings per share
  12. Dividends paid in the current year
  13. Property, plant and equipment
  14. Investment properties
  15. Investments
  16. Long-term financial assets
  17. Goodwill
  18. Deferred taxation
  19. Inventories
  20. Trade and other receivables
  21. Cash and cash equivalents
  22. Stated capital
  23. Non-distributable reserve
  24. Interest-bearing loans and borrowings
  25. Trade and other payables
  26. Provisions
  27. Reconciliation of profit before taxation to cash generated from operations
  28. Taxation paid
  29. Dividends paid
  30. Commitments and contingencies
  31. Employee benefits
  32. Financial risk management objectives and policies
  33. Related-party transactions
  34. Segment report (restated)
  35. Subsequent events
  36. Discontinued operations
  37. Loss of control in subsidiary
  38. Group entities
      Land and  
buildings  
Rm’s  		 Plant and  
machinery  
Rm’s  		 Vehicles  
Rm’s  		 Computer  
equipment  
Rm’s  		 Furniture  
and fittings  
Rm’s  		 Total  
Rm’s  
13. Property, plant and equipment                
  2015                
  Owned and leased                
  Beginning of year                
  – assets at cost     1 282   51   25   48   266   1 672  
  – accumulated depreciation     (96)  (38)  (12)  (36)  (194)  (376) 
  – net book value     1 186   13   13   12   72   1 296  
  Current year movements                
  – additions     158   8   10   8   35   219  
  – disposals     (45)  #   (2)  (1)  #   (48) 
  – depreciation     (17)  (6)  (6)  (9)  (32)  (70) 
  – translation     (5)  #     #   #   (5) 
  – impairment reversal     1   —   —   —   —   1  
  – transfers to investment property     (97)          (97) 
  Balance at end of year     1 181   15   15   10   75   1 296  
  Made up as follows:                
  – assets at cost     1 256   58   31   53   272   1 670  
  – accumulated depreciation and impairments     (75)  (43)  (16)  (43)  (197)  (374) 
  Net book value     1 181   15   15   10   75   1 296  
  # Less than R1 million.                 
 

An immaterial impairment reversal of R1 million has been recorded on the property in Australia.

As the Group’s property in Australia is now leased to third parties, it has been reclassified from property, plant and equipment to investment property. The carrying value of this property is determined using the cost model per IAS 40 – Investment Property, and was R97 million at 30 June 2015.

During the reporting period, the Group realigned the useful lives and residual values of certain buildings with the resulting impact thereof being immaterial.

A register of the Group’s land and buildings is available for inspection at the Company’s registered office.

      Land and  
buildings  
Rm’s  		 Plant and  
machinery  
Rm’s  		 Vehicles  
Rm’s  		 Computer  
equipment  
Rm’s  		 Furniture  
and fittings  
Rm’s  		 Total  
Rm’s  
  2014                
  Owned and leased                
  Beginning of year                
  – assets at cost     1 203   43   22   45   225   1 538  
  – accumulated depreciation     (53)  (33)  (9)  (30)  (167)  (292) 
  – discontinued operations (note 36)      4   1     3   8  
  – net book value     1 150   14   14   15   61   1 254  
  Current year movements                
  – additions     96   10   7   7   46   166  
  – disposals     (34)  (1)  (1)  #   (1)  (37) 
  – depreciation     (16)  (6)  (6)  (9)  (31)  (68) 
  – translation     10   1   #   #   #   11  
  – impairment     (20)  (5)  (1)  (1)  (3)  (30) 
  Balance at end of year     1 186   13   13   12   72   1 296  
  Made up as follows:                
  – assets at cost     1 282   51   25   48   266   1 672  
  – accumulated depreciation and impairments     (96)  (38)  (12)  (36)  (194)  (376) 
  Net book value     1 186   13   13   12   72   1 296  
  # Less than R1 million.
 

R20 million impairment has been recorded on property in Australia. A further R10 million impairment was recorded on discontinued operations’ assets prior to their disposal in 2014.