| |
| |
|
2025
Rm |
2024
Rm |
| |
52 |
– |
| Financial asset at fair value through profit and loss (FVTPL)* |
|
|
|
| Movements in the Financial assets held at fair value through profit and loss are detailed as below: |
|
|
|
| Acquisition value |
|
50 |
– |
| Fair value gains brought forward |
|
– |
|
| Fair value gains during the year |
|
2 |
– |
| |
|
52 |
– |
| * |
In the fourth quarter of FY2025, The Italtile and Ceramic Foundation Trust invested in financial assets classified at fair value through profit and loss for R50 million, in the form of a managed investment portfolio. This investment is classified as Level 2 in the fair value hierarchy. In accordance with IFRS 13, the fair value measurement of the investment is determined using the stated valuation technique, whereby the Company receives a statement from the fund manager reflecting the market value of the units held in the fund. The fund manager’s statement provides an observable input under Level 2 of the fair value hierarchy, ensuring transparency and reliability in the valuation process. |
The financial instruments held within the investment includes, South African equities, gilts and bonds, cash, local unit trusts, and asset swaps which are tradable instruments on the open market.
Classes and categories of financial assets and their fair values have been presented in the table below:
| |
|
Financial assets |
|
|
| |
|
FVTPL
measurement |
Fair value level |
|
| |
|
R’m |
1 |
2 |
3 |
| Managed investments |
|
52 |
– |
52 |
– |
The financial assets are held at the fair value and there have been no transfers between levels 1 and 2 for recurring fair value measurements during the year and there have been no level 3 measurements during FY2025.
|
